Paper Title
Financial Performance Evaluation of ICT Firms in Thailand using Entropy Weight TOPSIS

Abstract
According to the Thailand 4.0 initiative, 5G technology is seen as a key influence for driving digital economy. IDC's annual IT services survey in 2018 suggested that 63% of Thai enterprises are planning for more spending in technology in order to keep up with more complex IT environment. IDC forecasts project-oriented market spending will record a CAGR of 7.3% to reach 53.7 billion baht in 2022. Consequently, firms in ICT sectors are expected to be of great benefit from this initiative, and hence this could also be taken as an investment opportunity. Firm performance evaluation provides a useful information for an investor when making their investment decisions. This paper aims to deploy a multi-criteria decision-making technique such as entropy weight TOPSIS, to obtain financial performance scores for listed firms in Stock Exchange of Thailand, and to investigate whether it provides more information to an investor than considering each individual financial ratio separately. Panel Data of eighteen listed firm in ICT sector is collected from Thompson Reuters for three-year time period between 2016 and 2018 and 8 financial ratios, including liquidity, profitability, leverage, operating and market value ratios are taken as criteria in evaluating firm performance. Rank orders from both approaches are then compared and firm performance are analyzed in order to provide useful information for firms and investors. Keywords - Entropy Weight TOPSIS, ICT Sector, Financial Performance, Thailand