The Relationship between Debt Structure and accounting conservatism of the Listed Companies in the Stock Exchange of Thailand

This study examines the debt structure and the relationship between accounting conservatism and the debt structure of listed companies on the Stock Exchange of Thailand from 2017 to 2020. The results show that the main sources of debt financing are loans from financial institutions, bond issuance, trade payables, and leases. Key factors in debt financing include tax benefits, profitability, asset structure, access to capital, financing purposes, interest rates, contract terms, collateral, debt seniority, and government support. The study also finds a positive relationship between accounting conservatism and debt structure, indicating that companies use conservatism to reduce bankruptcy risk, lower financial costs, and make prudent decisions under uncertainty.

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Publication Details

Journal
WSEAS TRANSACTIONS ON BUSINESS AND ECONOMICS
Published
2026-10-26
DOI
https://doi.org/10.37394/23207.2026.23.146
Primary Topic
Corporate Finance and Governance
Type
article
Field-Weighted Citation Impact
0.00
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article

The Relationship between Debt Structure and accounting conservatism of the Listed Companies in the Stock Exchange of Thailand

Nopporn Paetrat
WSEAS TRANSACTIONS ON BUSINESS AND ECONOMICS
Corporate Finance and Governance
article

The Relationship between Debt Structure and accounting conservatism of the Listed Companies in the Stock Exchange of Thailand

Nopporn Paetrat
article en

Abstract

This study examines the debt structure and the relationship between accounting conservatism and the debt structure of listed companies on the Stock Exchange of Thailand from 2017 to 2020. The results show that the main sources of debt financing are loans from financial institutions, bond issuance, trade payables, and leases. Key factors in debt financing include tax benefits, profitability, asset structure, access to capital, financing purposes, interest rates, contract terms, collateral, debt seniority, and government support. The study also finds a positive relationship between accounting conservatism and debt structure, indicating that companies use conservatism to reduce bankruptcy risk, lower financial costs, and make prudent decisions under uncertainty.

WSEAS TRANSACTIONS ON BUSINESS AND ECONOMICSVol. 23
Suan Dusit University (TH)
Openalex Percentile: Top 4%
Corporate Finance and Governance
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