Pakamat Butsalee, Titaporn Sincharoonsak
The objective of this research was to study the influence of intellectual capital efficiency affecting corporate governance, competitive advantages, and performance of the companies listed on the Stock Exchange of Thailand. The data was collected from the Annual Data Statement (Form 56-1), annual report, and financial statements of 409 companies listed on the Stock Exchange of Thailand in 5 years (2015-2019). The analysis was on the structural equation model using Multiple Indicators and Multiple Causes Model to study the influence of intellectual capital efficiency affecting corporate governance, competitive advantages, and performance. The research results revealed that the intellectual capital efficiency had direct influence on corporate governance at the statistically significant level of 0.05. The intellectual capital efficiency had direct influence on competitive advantage at the statistically significant level of 0.01. Meanwhile, the intellectual capital efficiency had direct influence on the performance at the statistically significant level of 0.01.