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Full-Text Articles in Social and Behavioral Sciences
Robowealth: Boosting Financial Inclusion In Thailand, Chiraphol N. Chiyachantana, David K. Ding, Pattarawan Mai Prasarnphanich, Chi Wei Chan
Robowealth: Boosting Financial Inclusion In Thailand, Chiraphol N. Chiyachantana, David K. Ding, Pattarawan Mai Prasarnphanich, Chi Wei Chan
Asian Management Insights
Advanced fintech lowers barriers to investing.
Steering Steadily In The Post-Pandemic World, Chartsiri Sophopanich, Chin Tiong Tan
Steering Steadily In The Post-Pandemic World, Chartsiri Sophopanich, Chin Tiong Tan
Asian Management Insights
Chartsiri Sophonpanich, President of Bangkok Bank, speaks with Tan Chin Tiong about the future of banking in Thailand and the region as the world slowly emerges from the COVID-19 pandemic.
Capitalism With Chinese Characteristics: An Ethnographic Study Of Transnational Chinese Corporate Culture In Southeast Asia, David A. Dayton
Capitalism With Chinese Characteristics: An Ethnographic Study Of Transnational Chinese Corporate Culture In Southeast Asia, David A. Dayton
FIU Electronic Theses and Dissertations
Starting in 2001, China’s Going Out policy has encouraged Multinational Corporations (MNCs) and expats from the People’s Republic of China (PRC) to participate in the global economy at an unprecedented rate. Tens of thousands of Chinese businesses and millions of expats now span the globe. Despite the addition of this large, recent, and influential population to global capitalism there is little academic work on PRC corporate cultures or expats outside of China. Even in Thailand, home to the largest Chinese community outside of China/Taiwan, there is almost no corporate culture anthropology and no systemic study of recent Chinese business behaviors. …
Becoming Citizens: Policy Feedback And The Transformation Of The Thai Rice Farmer, Jacob Ricks, Thanapan Laiprakobsub
Becoming Citizens: Policy Feedback And The Transformation Of The Thai Rice Farmer, Jacob Ricks, Thanapan Laiprakobsub
Research Collection School of Social Sciences
Over the past twenty years, Thailand’s rice farmers have become one of the country’s most important and active political constituencies, a sharp contrast from the previous decades wherein they were treated with neglect or even derision by the Thai political elite. These “political peasants” now actively advocate for and successfully receive extensive subsidies from both authoritarian and democratic governments. What has driven this change? In this essay, we draw on theories of the policy feedback loop wherein policies yield both material and cognitive benefits, which change the political behavior of populations. We argue that the Thaksin Shinawatra government’s (2001-2006) paddy …
Warrants And Their Underlying Stocks: Microstructure Evidence From An Emerging Market, Charlie Charoenwong, David K. Ding, Nuttawat Visaltanachoti
Warrants And Their Underlying Stocks: Microstructure Evidence From An Emerging Market, Charlie Charoenwong, David K. Ding, Nuttawat Visaltanachoti
Research Collection Lee Kong Chian School Of Business
The Stock Exchange of Thailand provides an ideal platform for comparing the trading characteristics of warrants and their underlying stocks since both of them trade in the same market under identical trading rules. If their patterns diverge significantly, it may be possible for an astute trader to devise profitable arbitrage strategies during the life of the warrants. We find that both their patterns are downward-sloping for spreads, U-shaped for flow toxicity, volatility, depth concentration, and trading volume; and upward-sloping for depth and market order flow ratio. This implies that trading under identical market structures leads to similar trading characteristics. We …
Trading Costs On The Stock Exchange Of Thailand, Nattawut Jenwittayaroje, Charlie Charoenwong, David K. Ding, Yung Chiang Yang
Trading Costs On The Stock Exchange Of Thailand, Nattawut Jenwittayaroje, Charlie Charoenwong, David K. Ding, Yung Chiang Yang
Research Collection Lee Kong Chian School Of Business
This study examines the components of trading costs incurred in trading large and liquid stocks listed on the Stock Exchange of Thailand. We find that aggressive orders pay an immediacy price measured by price impact, whereas executed passive orders gain the immediacy price. We also find a sizable opportunity cost from the unexecuted portion of a limit order that more than offsets the benefit obtained from the partial fulfillment of the order. The total trading cost, which includes price impact and opportunity cost, is positively related to order size and stock price volatility, but negatively associated with firm size, stock …
Relative Effects Of Lower-Order And Higher-Order Quality Of Work Life On Employee Job Satisfaction And Life Satisfaction: Case Studies Of Service And Manufacturing Sectors In Thailand, Kalayanee Senasu, Anusorn Singhapakdi
Relative Effects Of Lower-Order And Higher-Order Quality Of Work Life On Employee Job Satisfaction And Life Satisfaction: Case Studies Of Service And Manufacturing Sectors In Thailand, Kalayanee Senasu, Anusorn Singhapakdi
Marketing Faculty Publications
This research investigates the relative effects of lower-order and higher-order aspects of quality of work life (QWL) on employee job satisfaction and overall life satisfaction in Thai workplaces. The data were collected by means of questionnaires mailed to employees of 6 selected companies-3 companies in each of the service and manufacturing sectors in Thailand with respective response rates of 72 and 74 percent. The results reveal that the two aspects of QWL in all companies have a positive impact on both aspects of employee satisfaction: job satisfaction and overall life satisfaction. The results also reveal a generally more important role …
Do External Shocks Have A Permanent Or A Transitory Effect On Thailand's Tourism Industry?, Reetu Verma, Ali S. Saleh, Ranjith Ihalanayake
Do External Shocks Have A Permanent Or A Transitory Effect On Thailand's Tourism Industry?, Reetu Verma, Ali S. Saleh, Ranjith Ihalanayake
Faculty of Commerce - Papers (Archive)
Given the number and the frequency of external shocks encountered by Thailand in the last two decades, this study identifies the number and the location of the breaks and tests to determine whether the breaks have a transitory or a permanent effect on international tourist arrivals to Thailand for its top 10 source countries using both univariate and panel unit root tests with structural breaks. The findings suggest that break dates coincide with the Asian financial crisis, the September 11 attack, and the SARS and the bird flu outbreaks. The univariate unit root tests with structural breaks reject the null …
Price Movers On The Stock Exchange Of Thailand: Evidence From A Fully Automated Order-Driven Market, Charlie Charoenwong, David K. Ding, Nattawut Jenwittayaroje
Price Movers On The Stock Exchange Of Thailand: Evidence From A Fully Automated Order-Driven Market, Charlie Charoenwong, David K. Ding, Nattawut Jenwittayaroje
Research Collection Lee Kong Chian School Of Business
This study examines trade sizes used by informed traders. The selected sample includes 73 active stocks from the Stock Exchange of Thailand (SET), a pure limit order market, that cover two distinct market conditions of a bull and bear market. Using intraday data, the study finds that large sized trades (i.e., larger than the 75th percentile) account for a disproportionately large impact on changes in traded and quoted prices. This finding compares with the results of studies conducted on U.S. markets that show informed traders employ trade sizes falling between the 40th and 95th percentiles (Barclay and Warner 1993; Chakravarty …
Are External Shocks Permanent Or Transitory? An Analysis Of Visitor Arrivals To Thailand, Ali S. Saleh, Reetu Verma, Ranjith Ihalanayake
Are External Shocks Permanent Or Transitory? An Analysis Of Visitor Arrivals To Thailand, Ali S. Saleh, Reetu Verma, Ranjith Ihalanayake
Faculty of Commerce - Papers (Archive)
Tourism industry in Thailand has recently experienced several external shocks such as September 11 attacks, SARS outbreak, Bird Flu, Political unrest and the recent global financial crisis which may have a temporary or permanent impact on the number of visitor arrivals to the country. This paper conducts univariate and panel Lagrange Multiplier tests with a break proposed by Lee and Strazicich (2004) and Im, Lee, and Tieslau (2005) to identify the time of the structural break and to determine whether shocks to visitor arrivals to Thailand have a temporary or permanent impact. We use annual data for Thailand’s top ten …
Liquidity Distribution In The Limit Order Book On The Stock Exchange Of Thailand, Nuttawat Visaltanachoti, Charlie Charoenwong, David K. Ding
Liquidity Distribution In The Limit Order Book On The Stock Exchange Of Thailand, Nuttawat Visaltanachoti, Charlie Charoenwong, David K. Ding
Research Collection Lee Kong Chian School Of Business
The liquidity distribution, or the shape of the limit order book, influences trading behavior and choice of order submission by public liquidity suppliers. The present study seeks to discover whether liquidity providers are concerned about being picked off by informed traders, and whether they are less willing to supply liquidity at the market or demand higher price spreads. The results show that liquidity at the market is a small portion of total liquidity, and that firm size, minimum tick size, volatility, and trading volume play significant roles in determining the liquidity distribution within an order book.
Dynamic Linkages Between Thai And International Stock Markets, Abbas Valadkhani, S. Chancharat
Dynamic Linkages Between Thai And International Stock Markets, Abbas Valadkhani, S. Chancharat
Faculty of Commerce - Papers (Archive)
This paper investigates the existence of cointegration and causality between the stock market price indices of Thailand and its major trading partners (Australia, Hong Kong, Indonesia, Japan, Korea, Malaysia, the Philippines, Singapore, Taiwan, the UK and the US), using monthly data spanning December 1987 to December 2005. Both the Engle-Granger two-step procedure (assuming no structural breaks) and the Gregory and Hansen (1996) test (allowing for one structural break) provide no evidence of a long-run relationship between the stock prices of Thailand and these countries. Based on the empirical results obtained from these two residual-based cointegration tests, potential long-run benefits exist …
A Grounded Study Of Erp Adoption And Vendor Selection In Thailand, Santipat Aruthari, Helen M. Hasan
A Grounded Study Of Erp Adoption And Vendor Selection In Thailand, Santipat Aruthari, Helen M. Hasan
Faculty of Commerce - Papers (Archive)
This paper contributes to the literature of the adoption of ERP systems and other existing and new IT-based innovation in developing countries. There is an imperative for a framework to explain the decision-making processes in ERP system adoption and vendor selection in general but particularly in developing Asian countries where knowledge on ERP systems is limited. The authors conducted interviews with IT managers and end-users to identify factors affecting ERP system adoption and ERP system vendor selection by Thai-owned and
multinational companies (MNCs) in Thailand. The findings from the study have led to the development of a research model of …
Spread, Depth, And Order Flow Patterns Of Warrants And Their Underlying Stocks On The Stock Exchange Of Thailand, Charlie Charoenwong, Nuttawat Visaltanachoti, David K. Ding
Spread, Depth, And Order Flow Patterns Of Warrants And Their Underlying Stocks On The Stock Exchange Of Thailand, Charlie Charoenwong, Nuttawat Visaltanachoti, David K. Ding
Research Collection Lee Kong Chian School Of Business
This study compared the trading characteristics of warrants and their underlying stocks. The Stock Exchange of Thailand provided a good platform for comparing the trading characteristics of warrants and their underlying stocks because both these securities are traded in the same market venue and have identical trading rules. Hence, the impact of trading protocol on intraday variation and an informed trader's decision to buy warrants or stocks was controlled. The paper found that they have a similar downward sloping pattern of spreads, adverse selection component, and liquidity immediacy, U-shaped for volatility and trading volume, and upward-sloping for depth and market …
Improving The System Of Financial Incentives For Enhancing Thailand's Industrial Technological Capabilities, Tim Turpin, Samuel Garrett-Jones, Paul Robertson, Siracha Charoenpanij, Peter Brimble
Improving The System Of Financial Incentives For Enhancing Thailand's Industrial Technological Capabilities, Tim Turpin, Samuel Garrett-Jones, Paul Robertson, Siracha Charoenpanij, Peter Brimble
Faculty of Commerce - Papers (Archive)
This report provides a summary of current international experiences with financial incentives for supporting technology development and identifies some important implications for public policy in Thailand. International experiences have demonstrated the broader public good that can be achieved through policies and public interventions that stimulate technology learning environments built around clusters or networks of firms and national support institutions. Financial incentives serve as a mediating influence to enhance the flow of knowledge from firms that are closer to a leading technological edge through to those firms where technological skills are lagging. They are therefore an essential tool available to governments …
Searching For Periods Of Volatility: A Study Of The Behavior Of Volatility In Thai Stocks, Theodore Bos, David K. Ding, Thomas A. Fetherston
Searching For Periods Of Volatility: A Study Of The Behavior Of Volatility In Thai Stocks, Theodore Bos, David K. Ding, Thomas A. Fetherston
Research Collection Lee Kong Chian School Of Business
This paper improves the precision of the useful new procedure of Inclán and Tiao (1994) that estimates variance shift points in a time series. It accomplishes this by incorporating the evidence of Bos and Fetherston (1992) that the linear Brown, Durbin, and Evans (Brown et al., 1975) critical CUSUM of squares boundaries [used by Inclán and Tiao] produce an understatement of instability at the data end points. This is solved by Tanizaki (1995) which, like Bos and Fetherston (1992) and Bos and Fetherston (1995), uses the fact that the CUSUM of squares statistic follows a beta distribution. This study uses …