Fund Characteristics Immunity To Covid-19 Pandemic: Evidence From Thailand,
2022
Faculty of Commerce and Accountancy
Fund Characteristics Immunity To Covid-19 Pandemic: Evidence From Thailand, Primporn Thanomsakul
Chulalongkorn University Theses and Dissertations (Chula ETD)
This research investigates the relationship between COVID-19 growth rates and the performance of Thai equity funds during the pandemic. Focusing on weeks with substantial increases in COVID-19 cases, we hypothesize that negative returns primarily originate from these weeks. We acknowledge the pandemic's impact as a black swan event, instilling fear and uncertainty, and its demonstrated negative effect on fund returns. Moreover, our research aims to identify the fund characteristics that have provided resilience and immunity to the negative effects of the crisis. Using a panel data regression with a fixed effect model, we analyze various fund characteristics and their impact …
Impact Of Environmental Policy Announcements On Investment Performance Of Equity Mutual Funds,
2022
Faculty of Commerce and Accountancy
Impact Of Environmental Policy Announcements On Investment Performance Of Equity Mutual Funds, Kaung Htet
Chulalongkorn University Theses and Dissertations (Chula ETD)
Previous research has shown that stock prices will also respond to environmental policy announcements because of the impact on firms' value. As equity mutual funds are primarily invested in stocks, this study aims to examine whether these announcements also impact the investment performance of equity mutual firms. Some studies also prove that it is still debatable whether green mutual funds or polluting mutual funds perform better in terms of investment returns. Based on this, this study will also further extend to analyze investment performance between green and polluting equity mutual funds under stringent and loosened environmental policy announcements. This study …
Is Greener Really Better? Stock Market Reaction To Green Bond Announcements, Evidence From Europe,
2022
Faculty of Commerce and Accountancy
Is Greener Really Better? Stock Market Reaction To Green Bond Announcements, Evidence From Europe, Niya Somkerd
Chulalongkorn University Theses and Dissertations (Chula ETD)
Employing an event-study approach, we examine how the stock market responded to the offering of green bonds by non-financial companies listed on the European stock market from January 2013 to September 2022. We observed a drop, on average about 0.28%, in the company stock prices on the day they announced these offerings and the day after. Moreover, we found that investors react in the same manner for green bond announcements as for conventional bond announcements. We also studied if the Gavriilidis (2021)'s climate policy uncertainty index has any relationship with the market reactions. Our findings suggest that the index is …
Risk Shifting In Mutual Funds: Evidence In Thailand,
2022
Faculty of Commerce and Accountancy
Risk Shifting In Mutual Funds: Evidence In Thailand, Suphitcha Ekjariyakorn
Chulalongkorn University Theses and Dissertations (Chula ETD)
The paper aims to examine whether risk-shifting behavior exists in Thai equity mutual funds or not. The empirical analysis studies the period from 2005 to 2022. It is investigated that risk-shifting behavior exists in Thailand by having compensation and employment incentive influences fund managers’ decision on risk shifting. Firstly, this study uses the states of the market which are positive and negative market returns as the proxy of compensation and employment incentive, respectively. The finding is illustrated that mid-year losers take more risk of the portfolio in the latter half of the year in both positive and negative market return …
The Effect Of Capital Ratio On Risk, Efficiency And Profitability Of Insurance Companies: Evidence From Singapore And Thailand,
2022
Faculty of Commerce and Accountancy
The Effect Of Capital Ratio On Risk, Efficiency And Profitability Of Insurance Companies: Evidence From Singapore And Thailand, Supanuch Limvisitsakul
Chulalongkorn University Theses and Dissertations (Chula ETD)
This research study examines the importance of capital ratios in assessing the financial health of insurance companies in the context of Singapore and Thailand. The primary objective is to investigate the extent to which capital ratios provide informative insights into the risk, efficiency, and profitability of insurance companies. The study covers both life and non-life insurance companies during the period from 2017 to 2021. The findings show that higher capital ratios correspond to lower liquidity risk, improved efficiency, and increased profitability. These results emphasize the importance of maintaining adequate capital reserves to ensure financial stability and enhance operational performance in …
The Effect Of Democracy On The Mutual Fund Recovery, Evidence From Emerging Countries,
2022
Faculty of Commerce and Accountancy
The Effect Of Democracy On The Mutual Fund Recovery, Evidence From Emerging Countries, Supisara Songdecha
Chulalongkorn University Theses and Dissertations (Chula ETD)
This research examines how democracy affects mutual fund performance and recovery in emerging countries: Brazil, Chile, China, India, Mexico, South Africa, and Thailand. Data from 2010 to 2021 is analyzed, focusing on domestic equity mutual funds. Democracy levels are measured using the V-Dem dataset. Performance is evaluated using risk-adjusted returns, while recovery duration measures how long it takes for funds to return to pre-crisis levels. The findings show that in Chile, characterized as a strong democracy, demonstrates improved performance with higher levels of democracy. In contrast, Brazil, South Africa, India, and Mexico exhibit higher returns with lower levels of democracy. …
The Impact Of Perceived Corruption Levels In Public Sector On Stock Market Development,
2022
Faculty of Commerce and Accountancy
The Impact Of Perceived Corruption Levels In Public Sector On Stock Market Development, Chotiwat Kumhang
Chulalongkorn University Theses and Dissertations (Chula ETD)
Most of the empirical studies that analyze the impact of corruption on the economy suggest that corruption is a serious obstacle against economic growth. However, it is ambiguous whether corruption has negative effect on the financial sector, especially stock market development. Thus, the first objective of this paper is to reexamine the relationship between corruption and stock market development. Furthermore, several previous literatures argue that democracy potentially mitigates the negative effect of corruption on economic growth. By this argument, the second goal of this paper is to investigate whether democracy has influence on mitigating the negative impact of corruption from …
The Moderating Effect Of Stock Price On The Relationship Between Earnings Quality And Dividend Payments : A Study Of Thai Listed Companies,
2022
Faculty of Commerce and Accountancy
The Moderating Effect Of Stock Price On The Relationship Between Earnings Quality And Dividend Payments : A Study Of Thai Listed Companies, Jirayu Boonyuen
Chulalongkorn University Theses and Dissertations (Chula ETD)
This research paper has the objective to investigate and examine the basic relationship on the dividend policy and the earnings quality of companies in Thai stock market, by covering all the industries. The proxies for the earning qualities include a total of four proxies which are earnings persistence, accruals quality, earnings informativeness, and timely loss recognition. Moreover, this research paper also further examines the incentive of dividend policy of companies under Thai stock market by applying the dividend signaling Theory and the information content of dividends hypothesis. The incentive of dividend policy can be viewed as the signal sending by …
The Relationship Of Intangible Capital And Esg Score On Capital Structure: Evidence From Thailand,
2022
Faculty of Commerce and Accountancy
The Relationship Of Intangible Capital And Esg Score On Capital Structure: Evidence From Thailand, Chalita Rammavas
Chulalongkorn University Theses and Dissertations (Chula ETD)
This study examines whether intangible capital influences capital structure which influent to cost of debt. Moreover, this study also analyzes more whether adding the effect of and ESG performance as risk reduction together with intangible capital affect to capital structure by using financial leverage and WACC cost of debt as the dependent variable and using intangible capital and ESG performance as independent variable. The empirical results of this study show intangible capital and financial leverage are not relevant under these equations. Moreover, they also have no relationship between intangible capital and cost of debt, and there is a 10% chance …
Trade Credit With Firms' Life Cycle: Evidence From Stock Exchange Of Thailand (Set),
2022
Faculty of Commerce and Accountancy
Trade Credit With Firms' Life Cycle: Evidence From Stock Exchange Of Thailand (Set), Chaiwat Sae-Low
Chulalongkorn University Theses and Dissertations (Chula ETD)
This study examines how firms’ life cycle affects Trade credit including the recession period by using evidence from Stock Exchange Thailand (SET). The study has been performed during 2000 – 2020 with 253 listed firms. Regarding results, it suggested that the firm life cycle has a significant impact on AR and AP days, except for AP’s growth. During the recession period, AP days for the introduction and mature stage have no positive impact. The empirical also finds there are no significant levels for the introduction and mature stage of AR and AP days, which have a high level of market …
Resilience In The Face Of Adversity: An Analysis Of The Refugee Entrepreneurial Population And Their Resources In The Mid-Atlantic Region Of The United States.,
2022
Hollins University
Resilience In The Face Of Adversity: An Analysis Of The Refugee Entrepreneurial Population And Their Resources In The Mid-Atlantic Region Of The United States., Zahin Mahbuba
Undergraduate Honors Theses
This study presents an overview and analysis of refugee entrepreneurship in the United States' Mid-Atlantic region for refugee entrepreneurship by interviewing three refugee entrepreneurs and two professional individuals who actively work with refugee entrepreneurs. It introduces the refugee population and climate in the United States, and examines the connections between forced migration and entrepreneurship in the present literature along with factors that affect access and viability of entrepreneurship due to economic and social barriers, cultural and familial influences and financial hurdles. Through the interviews and examination of existing literature, three different traits distinguished refugee entrepreneurs in the region, according to …
The Impact Of Government Response To Covid-19 On Stock Return Predictability,
2022
Faculty of Commerce and Accountancy
The Impact Of Government Response To Covid-19 On Stock Return Predictability, Disayadej Dangdej
Chulalongkorn University Theses and Dissertations (Chula ETD)
Recession is known to cause an increase in stock return predictability. The COVID-19 pandemics had not only resulted in sickness and loss of life but also plunged global economy into recession prompting governments to come up with measures to combat the disease. This paper first confirms that return predictability increased due the spread of COVID-19 using data from 41 countries on variations of popular predictors. Furthermore, it shows that government responses to COVID-19 alleviated the pandemic, the recession and reduced the return predictability with varying impact for different government measures. However, cases and deaths from COVID-19 which should have intensified …
Mathematical Modeling For A Multiproduct Manufacturing System Featuring Postponement, External Suppliers, Overtime, And Scrap,
2022
Chaoyang University of Technology
Mathematical Modeling For A Multiproduct Manufacturing System Featuring Postponement, External Suppliers, Overtime, And Scrap, Yuan Shyi P. Chiu, Jian Hua Lian, Victoria Chiu, Yunsen Wang, Hsiao Chun Wu
Department of Accounting and Finance Faculty Scholarship and Creative Works
Manufacturing firms operating in today’s competitive global markets must continuously find the appropriate manufacturing scheme and strategies to effectively meet customer needs for various types of quality of merchandise under the constraints of short order lead-time and limited in-house capacity. Inspired by the offering of a decision-making model to aid smooth manufacturers’ operations, this study builds an analytical model to expose the influence of the outsourcing of common parts, postponement policies, overtime options, and random scrapped items on the optimal replenishment decision and various crucial system performance indices of the multiproduct problem. A two-stage fabrication scheme is presented to handle …
Minimization Of Multiproduct Fabrication Cost Featuring Rework, Commonality, External Provider, And Postponement,
2022
Chaoyang University of Technology
Minimization Of Multiproduct Fabrication Cost Featuring Rework, Commonality, External Provider, And Postponement, Peng Cheng Sung, Chia Ming Lai, Yunsen Wang, Yuan Shyi P. Chiu
Department of Accounting and Finance Faculty Scholarship and Creative Works
This study presents a multiproduct fabrication cost-minimization model featuring external providers, commonality, rework, and postponement in the supply chain environment. Customers’ requirements simultaneously emphasize quality, variety, and fast response time in current markets. To satisfy customer needs, most manufacturers in various industries (e.g., clothing, household goods, automotive, etc.) plan their multiproduct fabrication by incorporating a postponement strategy, rework process, and an outsourcing option. Motivated by the viewpoints above, this study offers a decision support system to address customers’ external expectations while optimizing internal operating expenses and machine utilization. We propose a single-machine, two-stage delayed differentiation system under a rotation cycle …
Crime And The Effects It Has On Business Development,
2022
University of New Hampshire, Durham
Crime And The Effects It Has On Business Development, Alexis Pimental
Honors Theses and Capstones
This reading highlights the topic of crime through exploring what crime is as well as the different types of crimes in our everyday lives. Specifically, this research paper wants to highlight the crimes that may affect businesses, as well as the relationships between crime and business development. By using facts and statistics, we will dive into the relationship between the two and see why certain businesses may find success while other businesses struggle. We will also be looking at different pieces of literature, reviewing them, and drawing conclusions from the literature being discussed. The literature review as well as assessments …
De-Fi Protocol Token Valuation By Projecting Token Flows And Estimating An Appropriate Risk Premium,
2022
University of New Hampshire, Durham
De-Fi Protocol Token Valuation By Projecting Token Flows And Estimating An Appropriate Risk Premium, Anders C. Brucker
Honors Theses and Capstones
No abstract provided.
Modeling The Impact Of Adding Cryptocurrency In A Portfolio,
2022
University of New Hampshire
Modeling The Impact Of Adding Cryptocurrency In A Portfolio, Ashley Pineault
Honors Theses and Capstones
This study examines the backgrounds of Bitcoin and Ethereum. How they came about, where they differ from one another in functions, and what investors believe will be a better cryptocurrency stock as an investment to include in an optimized portfolio. It will also study the impact of adding two leading cryptocurrencies, Bitcoin and Ethereum, into a hypothetical, optimal investment portfolio. Data collection includes the adjusted closing price of 30 diversified stocks from 2016 to 2021. Those adjusted closing prices are the beginning of determining the optimal portfolio for three separate portfolios. One has the Ethereum cryptocurrencies, the other has Bitcoin …
Should Cryptocurrency And Nft’S Be Used As Collateral?,
2022
University of New Hampshire, Durham
Should Cryptocurrency And Nft’S Be Used As Collateral?, John M. Helmanis
Honors Theses and Capstones
Nothing has captured the attention of modern finance quite like cryptocurrencies and non-fungible tokens (NFT), whether it’s the massive skyrocketing price or the next day's sudden drop wiping out millions of dollars seemingly overnight. This paper seeks to understand cryptocurrencies and NFT's position in modern finance in terms of collateral. Specifically, the question that will be answered is should cryptocurrencies and NFTs be used as collateral? This question has relevance because widespread use as collateral would signify validation as an asset class that holds value. Some cryptocurrency brokers are making loans backed by cryptocurrency, but currently, no major banks are …
Small Business Strategies To Implement Product Diversification Effectively,
2022
Walden University
Small Business Strategies To Implement Product Diversification Effectively, Madeleine Solange Nouteya-Jackson
Walden Dissertations and Doctoral Studies
Business leaders who lack an understanding of the proper strategies to successfully implement product diversification risk decreasing competitive advantage, causing loss of economy constancy and organizational profitability. Grounded in Porter’s five forces of competitive advantage, the purpose of this qualitative multiple case study was to explore strategies small business leaders used to effectively diversify their products to achieve and sustain a competitive advantage. Participants included three retail business leaders who employed fewer than 15 employees and have successfully used product diversification strategies to sustain and maintain a competitive advantage in the District of Columbia, Maryland, and Virginia areas. Data were …
Netflix Strategic Business Analysis,
2022
University of Montana
Netflix Strategic Business Analysis, Kegan L. Morris
Undergraduate Theses, Professional Papers, and Capstone Artifacts
An external analysis done to identify opportunities and threats Netflix faces.
