Paper Title
A Study on The Relationship Between Environmental, Social, and Governance Factors and the Firm Value of Companies Listed in the Stock Exchange of Thailand

Abstract
This study examines the relationship between sustainable stocks (SET ESG Ratings) and the firm value (Tobin's Q) of companies listed on the Stock Exchange of Thailand (SET) identified as sustainable stocks from 2019 to 2023 with completed financial data. The research utilizes secondary data from financial statements spanning five years (2019–2023). The primary variable is the designation as a sustainable stock, and the secondary variable is the firm's value, as measured by Tobin's Q. The analysis uses multiple regression equations through statistical software. The results reveal a significant connection between sustainable stocks and firm value for SET-listed companies at a 90% confidence level. The relationship is inversely proportional, as reflected by a negative coefficient. Keywords - Environment Social and Governance, ESG, The Stock Exchange of Thailand, SET, SET ESG Ratings