Author(s): Muttanachai Suttipun
From the mixed results of previous related literatures, the study’s objective mainly aimed to test the possible relationship between Key Audit Matters (KAM) reporting and common share price of listed companies from the alternative capital market in Thailand namely the Market of Alternative Investment (MAI). Using 127 out of 160 MAI firms, 381 corporate annual reports during 2016 to 2018 were used as the samples. KAM reporting and corporate characteristics were collected from annual reports, while the MAI’s website namely SETSMART was used to collect corporate common share price of the samples. Descriptive analysis, correlation matrix and panel data analysis were used to analyze the data. As the results, the study found a significantly negative relationship between KAM reporting and common share price. Moreover, industry type and profitability had positively correlated with common share price. Main contribution of this study was that KAM reporting can provide accurate information value of communication compared with the traditional audit reporting to corporate investors for decision making as well as reducing information asymmetry.