Economics Commons^™

A Study Of Informal Loan In The Greater Bangkok Area: Fators Affecting Loan Decision And Interest Rate From The Demand Side, Wichyada Tanomchat

Chulalongkorn University Theses and Dissertations (Chula ETD)

This thesis examines the likelihood of borrowing money from the informal credit market, the significant factors influencing the informal interest rates, and the factors which affect people's decision on going back to rely on informal credit of individuals over 20+ years of age in four provinces, including Bangkok and Greater Bangkok, in Thailand. The survey uses a multi-stage stratified random sampling method by the weight of populations in each province for analysis with a quota sampling technique. The data used in the study is collected from 1,494 respondents by questionnaires. The results suggest that (i) luxury spending behavior, income levels, …

ผลกระทบจากความผันผวนของอัตราแลกเปลี่ยนที่มีต่อการค้าระหว่างประเทศของไทยกับประเทศคู่ค้าที่สำคัญ, จักรกวินท์ เปี่ยมวรการุณย์

Chulalongkorn University Theses and Dissertations (Chula ETD)

งานวิจัยทางทฤษฎีและการวิจัยเชิงประจักษ์ว่าด้วยผลกระทบจากความผันผวนของอัตราแลกเปลี่ยนที่มีต่อการค้าระหว่างประเทศพบว่าความผันผวนของอัตราแลกเปลี่ยนส่งผลให้การค้าระหว่างประเทศปรับตัวลดลงหากผู้ส่งออกมีลักษณะกลัวความเสี่ยงน้อย (Less Risk Averse) มิฉะนั้นมีการปรับตัวเพิ่มขึ้นหากผู้ส่งออกมีลักษณะกลัวความเสี่ยงมาก (Highly Risk Averse) แต่มีบางงานศึกษาไม่พบผลกระทบที่มีนัยสำคัญ ฉะนั้นงานศึกษานี้มีจึงวัตถุประสงค์เพื่อศึกษาผลกระทบทั้งในระยะสั้นและระยะยาวจากความผันผวนของอัตราแลกเปลี่ยนที่มีต่อปริมาณการส่งออกของไทยโดยเลือกการส่งออกไปยัง4ประเทศคู่ค้าที่สำคัญ ได้แก่ กลุ่มประเทศอาเซียน สหรัฐอเมริกา ญี่ปุ่นและกลุ่มประเทศสหภาพยุโรป การศึกษาใช้วิธี ARDL Bound Testing ซึ่งเป็นวิธีที่สามารถหาผลกระทบทั้งในระยะสั้นและระยะยาวรวมทั้งการปรับตัวจากระยะสั้นสู่ระยะยาวได้ในสมการเดียวกัน ข้อมูลที่ใช้มีลักษณะเป็นรายเดือนตั้งแต่ปี ค.ศ.2000 ถึง 2016 การศึกษาพบว่าในระยะสั้นความผันผวนของอัตราแลกเปลี่ยนทำให้การส่งออกลดลง ในระยะยาวอุตสาหกรรมส่วนใหญ่สามารถปรับตัวต่อการผันผวน ทำให้ไม่ได้รับผลกระทบอย่างมีนัยยะสำคัญทางสถิติ สำหรับในอุตสาหกรรมที่ได้รับผลกระทบในระยะยาว ส่วนใหญ่ทำให้การส่งออกลดลง อ้างอิงได้ว่าผู้ส่งออกในอุตสาหกรรมเหล่านี้มีลักษณะกลัวความเสี่ยงน้อย (Less Risk Averse) จากการที่การส่งออกในอุตสาหกรรมส่วนใหญ่ไม่ได้รับผลกระทบจากความผันผวนของอัตราแลกเปลี่ยนในระยะยาว ระบบอัตราแลกเปลี่ยนแบบลอยตัวภายใต้การจัดการ (Managed Float) ของไทยจึงยังคงเป็นระบบที่มีความเหมาะสม อย่างไรก็ตาม เนื่องจากในระยะสั้นอุตสาหกรรมส่วนใหญ่ได้รับผลกระทบจากความผันผวนของอัตราแลกเปลี่ยน ดังนั้นภาครัฐควรจะมีมาตรการในการกระตุ้นและส่งเสริมให้ผู้ส่งออกมีการประกันความเสี่ยงจากความผันผวนของอัตราแลกเปลี่ยนโดยเฉพาะในอุตสาหกรรมที่มีผู้ประกอบการขนาดกลางและขนาดเล็กจำนวนมาก

บทบาทการพัฒนาทางการเงินและความยากง่ายในการประกอบธุรกิจต่อการจัดตั้งธุรกิจใหม่, ปิยาพัชร ล้อจรัสศรีวงษ์

Chulalongkorn University Theses and Dissertations (Chula ETD)

การศึกษานี้มีวัตถุประสงค์เพื่อศึกษาบทบาทการพัฒนาทางการเงินและความยากง่ายในการประกอบธุรกิจต่อการจัดตั้งธุรกิจใหม่ โดยพิจารณาบทบาทการพัฒนาทางการเงินทั้งในด้านความลึก การเข้าถึง และความมีประสิทธิภาพของสถาบันการเงินและความยากง่ายในการประกอบธุรกิจด้านต่าง ๆ ประกอบด้วย การเริ่มต้นธุรกิจ การจดทะเบียนทรัพย์สิน การคุ้มครองผู้ลงทุน และการชำระภาษี โดยศึกษาในประเทศกำลังพัฒนา 8 ประเทศ ประกอบด้วย ประเทศมาเลเซีย ไทย ฟิลิปปินส์ อินโดนีเซีย อินเดีย ศรีลังกา บังคลาเทศ และปากีสถาน ใช้ข้อมูลภาคตัดขวางร่วมกับข้อมูลอนุกรมเวลา ตั้งแต่ปี ค.ศ. 2002-2014 ประยุกต์กับแบบจำลอง Panel Regression Method Models ด้วยวิธี Fixed-Effects ผลการศึกษาพบว่า การเข้าถึงสถาบันการเงิน ความสะดวกในการเริ่มต้นธุรกิจ การคุ้มครองผู้ลงทุนและอัตราการเจริญเติบโตของผลิตภัณฑ์มวลรวมภายในประเทศต่อหัวมีผลทางบวก ขณะที่อัตราดอกเบี้ยเงินกู้ที่แท้จริงมีผลทางลบต่อจำนวนการจดทะเบียนประกอบธุรกิจใหม่ในประเทศอย่างมีนัยสำคัญทางสถิติ อย่างไรก็ตาม การศึกษาพบว่าความลึกและประสิทธิภาพของสถาบันการเงิน ความสะดวกในการจดทะเบียนทรัพย์สิน การชำระภาษี มูลค่าการลงทุนโดยตรงจากต่างประเทศ และสัดส่วนการออมต่อผลิตภัณฑ์มวลรวมภายในประเทศมีความสัมพันธ์กับจำนวนการจดทะเบียนประกอบธุรกิจใหม่ในประเทศอย่างไม่มีนัยสำคัญทางสถิติ

The Economics Of Healthcare Rationing, Michael D. Frakes, Matthew B. Frank, Kyle Rozema

Faculty Scholarship

This article examines the economics of healthcare rationing. We begin with an overview of the various dimensions across which healthcare rationing operates, or at least has the potential to operate, in the first place. We then describe the types of economic analyses used in healthcare rationing decision-making, with particular reference to cost-benefit analysis and cost-effectiveness analysis. We also discuss healthcare rationing in practice, such as how economic analyses inform decisions regarding which services to cover, and conclude by discussing various practical and conceptual challenges that may arise with economic analyses and that span both economics and ethics.

Getting To Know Your Yield Response Better Through Whole-Field Randomized Experiments, Taro Mieno, David Bullock

Cornhusker Economics

Six researchers at the University of Nebraska- Lincoln are working on the USDA-NIFA-funded Data Intensive Farm Management (DIFM) project. DIFM is based at the University of Illinois, and also involves the Universities of Kentucky, Massachusetts, Maryland, and Illinois State. The overarching goal of the project is to collect production data after conducting large-scale, on-farm randomized input use field trials, and then using the information to inform growers of optimal input use practices to enhance their profits. DIFM researchers hope to find a win-win situation in which more efficient crop nutrient management both increases farm profits and water quality in the …

Editor's Note, Marites Tiongco

DLSU Business & Economics Review

No abstract provided.

The Role Of Gender And Ethnic Diversity On The Performance Of Malaysian Private Companies, Rayenda Khresna Brahmana, Mohd Waliuddin Mohd Razali, Hui Wei You

DLSU Business & Economics Review

This study examines the effect of gender diversity and board diversity on Malaysian firm performance. This study is different from other studies because instead of using publicly listed companies, it uses 3,735 private companies over 2009–2014. We find that gender has no significant effect on the firm performance but firm’s characteristics such as firm age, firm’s size, liquidity, and leverage have significant effects on the firm performance. Our research further indicates that ethnic diversity in the board of directors may give better performance to companies. This research implies two important findings for the policy makers. First, the encouragement of gender …

Does Diversification Lead To Better Loan Portfolio Returns? Empirical Evidence From Indonesian Banks, Apriani Dorkas Rambu Atahau, Tom Cronje

DLSU Business & Economics Review

The composition of the loan portfolios of Indonesian banks are analysed in this study to determine whether loan diversification or loan focus strategies lead to better loan portfolio returns. This study is based on secondary data obtained from the Indonesian Banking Directory of the Indonesian Central Bank, as well as commercial bank annual reports provided by Infobank magazine and the Indonesian Banking Development Institute. Data pertaining to 109 commercial banks for the period 2003 to 2011 were analysed using non-parametric testing of means and panel data regression. The research findings indicate that the loan portfolios of government-owned, domestic-owned, and foreign-owned …

Financial Performance And Sharia Compliance: A Comparative Analysis Of Indonesian And Malaysian Islamic Banks, Heru Fahlevi, -- Irsyadillah, Putra Randa

DLSU Business & Economics Review

The purpose of this paper is to evaluate the financial performance and the sharia conformity of Indonesian and Malaysian Islamic banks. In particular, the study aims to expand the approach of Islamic banks performance assessment

by adding two models of sharia conformity measurements, that is, Sharia Conformity and Profitability (SCnP) and Sharia- Compliant Indicator (SCI). The SCnP model unveiled that the studied Islamic banks generally conform with the sharia

principles, although they were relatively less profitable. The Malaysian banks performed financially better during the period of study, but the Indonesian Islamic banks conformed more to the Islamic principles. In addition, …

Investigation Of Sufficiency Economy Philosophy Reporting In Thailand, Muttanachai Suttipun, Sureerat Saefu

DLSU Business & Economics Review

The aims of this research are to investigate the extent and level of sufficiency economy philosophy (SEP) reporting in the annual reports of companies listed on the Stock Exchange of Thailand (SET) and to determine the relationships between corporate characteristics, SEP reporting, and financial performance. Content analysis is used to quantify SEP reporting in the 2012 annual reports of 222 Thai SET-listed companies, while descriptive analysis is employed to describe the type and level of SEP reporting. The relationships between corporate characteristics, SEP reporting, and financial performance are investigated using a correlation matrix and path analysis. The findings show that …

Measuring Customers’ Perception In Bancassurance Channel Using Psychometric Scale, Ranjit Singh, Mousumi Choudhury

DLSU Business & Economics Review

The study attempts to investigate the customers’ perception towards bancassurance channel. Customers’ perception towards bancassurance is studied by considering six attributes, namely, compliance, tangible infrastructure, reliability, responsiveness, assurance, and empathy. The study is based on primary data collected using structured questionnaire from the customers buying life insurance policy of SBI Life through different branches of State Bank of India in Guwahati City of Assam. Cronbach’s alpha is used to test the reliability of the questionnaire. Other statistical tools like Mean, Standard Deviation, Kolmogorov-Smirnov, and Friedman test were used to arrive at suitable conclusion. The study finds that customers have favourable …

Financial Integration In Money Markets: Evidence From Saarc Region, Abdul Rafay, -- Fca, Saqib Farid

DLSU Business & Economics Review

The primary purpose of the study was to investigate the extent of financial integration between the four major money markets (Pakistan, India, Sri Lanka, and Bangladesh) in the SAARC region. To determine the association between these money markets, this study deployed variety of robust time series techniques such as JJ Co-integration Test, Granger Causality Test, Impulse Response Functions (IRF), and Variance Decomposition Analysis (VDC). Monthly data for the period 2007–2015 was utilized for the data analysis whereas Call Money rates and Interbank rates were used as proxies of money markets. The empirical findings confirmed the presence of long term relationship …

Independence Of Audit Ethical Decision Making Process: A Case Of Indonesia, Negina Kencono Putri, Wiwiek Rabiatul Adawiyah, Bambang Agus Pramuka

DLSU Business & Economics Review

This study aimed to test whether there is a change in the level of independence of auditors when they are exposed to some level of work pressure related to morality and ethics, in three levels of work pressure and the threat of litigation. The study used a quasi-experimental method design with Chi-square test and regression as statistics analysis which involved professional auditors in Indonesia. The results showed that the independence of auditors who become participants in this study was not affected, despite being faced with situations that threaten their continuity in getting future assignments from the client. The auditors were …

An Econometric History Of Philippine Trade: 1810–1899, Luisito C. Abueg

DLSU Business & Economics Review

An econometric “verification” of historical accounts of Philippine international trade and economic liberalization during the 19th century using econometric analysis to correlate historical accounts from official and other historical sources from Spanish era of Filipinas (majority of Luzon and Visayas trading centers). This paper also aims to assess macroeconomic trends and institutional analyses of Philippine colonial trade of the 19th century (with consequences to the 20th century Philippine economic development experience) using the perspective of econometric methodology.

Effects Of Affluence On Rising Household Carbon Emission In The Philippines: An Application Using Quantile Regression Approach, Moises Neil V. Seriño

DLSU Business & Economics Review

This study investigates whether rising affluence affects carbon emission differently by considering the distribution of households based on the level of emission. Whereas there are several empirical studies that examine this issue with mean based regression approach, limited studies have investigated the effect of affluence on the quantiles of household emission controlling for several household characteristics. Employing the methods of quantile regression, results show that rising affluence affects household emission differently. The effect is more pronounced among households in the upper emission quantile as compared to households in the lower emission quantile. This suggests that an increase in income translates …

Another Look At Demand-Side Digital Piracy, Andrea L. Santiago

DLSU Business & Economics Review

Technological improvements made it easier for individuals to download files for personal use. From one end, the clear message is that piracy is wrong and attention should be drawn to crushing piracy with education and disincentives. On the other end of the spectrum is the view that anything that can be accessed online is free. This paper encapsulates the major discussions on digital piracy thus far. It also looks at alternative ways to approach the debate so that more creative solutions can be developed without compromising on the basic principle that the creator of an idea or product deserves to …

What Goes Up Must Come Down: The Relationship Between The Housing Market Boom And The Subsequent Economic Downturn: Evidence From The Msa Level, Bruce Dale Service

CMC Senior Theses

Using MSA level data, the paper shows, that geographic areas which experienced the largest housing bubble generally suffered a more serious subsequent economic downturn. More specifically, the paper establishes that MSAs with larger declines in housing permits had larger increases in unemployment. There also appears to be strong evidence of a correlation between the magnitude of a housing boom and the timing of the decline in housing permits. MSAs which experienced larger real housing inflation offered early indications of the subsequent Great Recession.

The End Of The Three Percent Rule: How Structural Changes In The U.S. Economy Have Impacted Economic Growth, Maxwell J. Urman

CMC Senior Theses

Using data from government sources (FRED, BEA, BLS), the thesis explores the underlying reasons for declining U.S. economic growth. A long standing trend of annual 3% growth no longer seems to hold true for the economy. The paper summarizes current theory as to why the growth has slowed and finds new explanations by analyzing the various major industries which make up GDP. The results show that sectoral shifts in employment from high paying industries to low paying industries help to explain a significant portion of the decline in national growth rates. The decline in growth is primarily driven by about …

An Analysis Of Sports Markets: Franchise Relocation, League Expansion, And Fan Bases, Evan Opperman

CMC Senior Theses

Through sports, cities can reach fans from all different walks of life to rally together and support a competitive cause. Each city’s fan base is distinct—with their individual personalities being reflective of the culture and environment of the home city. The intent of this paper is to study the effect of multiple on and off field factors as they relate to attendance across three major professional sports in city markets. This will determine which city markets have the strongest, or weakest, overall fan bases. Ultimately, this study will end with an educated recommendation for professional sports franchise relocation or a …

Degree Matters: The Impact Of A Leader’S Foreign Education On His Country’S Economic Development, Zhongyi Yu

CMC Senior Theses

I analyze the correlation between a nation leader’s foreign education experience and their nation’s GDP growth and economic freedom in African, Asian, and South American countries. There is a statistically significant correlation between a leader’s foreign education and the country’s GDP growth rate, especially in Africa. Data also shows that a leader’s foreign education is positively correlated with his country’s economic freedom. Despite the fact that the regressions can only demonstrate correlation as opposed to causation relationships among variables, further analysis of the results concludes that a leader’s education and the country’s development are reciprocal. The findings of this paper …

Determinants Of Organ Donor Registration Rates Among Young Americans, Syed Umar Farooq

CMC Senior Theses

In this paper I examine the factors that affect the likelihood an individual is a registered organ donor. Unlike many studies which focus on subpopulations in specific regions, I utilize national data to get a broader assessment of individuals from around the country across a number of racial and religious classifications. Using a probit model and controlling for a variety of parameters, I find that some racial and religious variables are negatively and significantly associated with organ donor registration rates, while education and being female are positively associated with organ donor registration rates. I conclude by discussing the implications of …

Are Oil Prices Important To U.S. Manufacturers?, Austin Perez Schoff

CMC Senior Theses

Very little has been written about the effect that oil prices have on manufacturing output in the United States. This paper aims to shed light about the effect of oil prices, oil imports, and GDP on U.S. manufacturing output through a four-variable vector autoregression and explain the timing of these shocks through impulse response functions. Empirical results find that oil prices are significant in determining manufacturing output, but manufacturing output is also significant in determining oil prices.

The Interconnection Of The Great Recession, Income Disparity, Segregated Metropolitan Districts, And Their Significance To All In The U.S., Marcellus Demer

CMC Senior Theses

In the United States, nobody can survive without depending on the income of oneself or of those that support them. Thus, economic opportunity and its skewed availability is pertinent to everyone. With income inequality in the United States measured in the early 2010s reaching some of the highest estimates among nations around the globe, people seek to investigate the forces behind this phenomenon and reverse it. This paper focuses on some of the many cycles and structures that exist to reinforce the challenges of achieving economic equality. Specifically, I extrapolate data to measure the correlations between the Great Recession and …

Institutional Development: Interpreting The Russian Case, Joshua W. Rooney

CMC Senior Theses

A fundamental question to both historians and development economists is why countries today are able to reach and maintain such starkly different economic outcomes. Popular explanations include geographic and climatological features, short-term policy decisions, and economic institutions. This paper looks at the importance of violence and social pressure in the transformation and conservation of political and economic institutions in Russia. It finds that several major historical legacies including serfdom, Mongol dominance, Orthodoxy, and authoritarianism significantly influence both the past a present institutional setting. Furthermore, such legacies have proven to be major obstructions to the emergence of economic liberalism.

Taking Good Works To The Next Level: Increasing Investment In And Support For Higher-Risk Innovation, Jessie Capper

CMC Senior Theses

This thesis explores the possible avenues available to corporations and capital-managing entities seeking to increase their commitment to good works. These organizations have the potential to fill the gap in societal needs by supporting and investing in good works, including environmental protection and highly-innovative energy technologies, beyond the traditional corporate social responsibility (CSR) norm. These means include charitable giving, working with disadvantaged communities, corporate assistance to environmental or other social non-governmental organizations, and more. This thesis discusses the advantages and limitations of various corporate structures (C Corporations, S Corporations, LLCs, B Corps, L³Cs, and benefit corporations) and capital-managing …

The Gender Gap In Immigrant Entrepreneurship: The Role Of Culture And Home Country Self-Employment, Amy Ingram

CMC Senior Theses

This paper investigates the effect of culture and home country self-employment rates on immigrant self-employment in the United States, post-migration. This study analyzes the effects for both men and women, focusing on the gender gap in self-employment. The empirical results show that home country effects have a small impact on self-employment, but most of this relationship is unexplained. Because the explanatory power of home country effects is so low, it is unlikely that culture significantly influences self-employment. I find that, contrary to my hypotheses, women from countries with high female self-employment rates are likely to see a larger decrease in …

Revenue Incentives And Referee Propensity To Make Foul Calls In The Nba Finals, Daniel Fallon-Cyr

CMC Senior Theses

In this study I examine foul calls by NBA referees alongside the difference in aggressiveness of twelve NBA basketball teams as they compete for the Championship Title. I aim to identify referee biases that increase the likelihood of the NBA Finals ending in a later game due to league revenue incentives. My data consists of 91 individual NBA Finals games played between the 2001 and 2016 NBA Finals. After controlling for changes in play as well as the difference in aggressiveness, I find that NBA referee’s foul calls are more dependent on a call on the opposing team in situations …

Is Silence The Answer?, Gator Adams

CMC Senior Theses

This study examines the relationship between company management guidance, and ex-ante crash risk over the duration of 2008(Jan 2006-Dec 2009) financial crisis using the implied volatility skew, which is based upon ex-ante volatility implied by the pricing model developed by Black-Scholes (1973). The study finds that over the duration of this crisis period, management guidance decreases with a rise in ex-ante crash risk. Further, the study provides evidence on the relationship of management guidance and earnings volatility, and how that is affected by a firm's industry product concentration based on the Herfindahl-Hirschman Index (HHI) score.

Australian Real Estate Stock Reactions To Firb Regulation Changes, Henry Wei

CMC Senior Theses

This study analyzes the share price reactions to real estate development and building/construction materials corporations in relation to FIRB rule changes. It appears companies as a whole were indifferent to the rule changes; however individual securities returns were wildly different. These findings suggest that the FIRB rule changes had a mixed effect on different corporations possibly based on their exposure to the Australian real estate market.

Salary Inequality In The Nba: Changing Returns To Skill Or Wider Skill Distributions?, Jonah F. Breslow

CMC Senior Theses

In this paper, I examine trends in salary inequality from the 1985-86 NBA season to the 2015-16 NBA season. Income and wealth inequality have been extremely important issues recently, which motivated me to analyze inequality in the NBA. I investigated if salary inequality trends in the NBA can be explained by either returns to skill or widening skill distributions. I used Pareto exponents to measure inequality levels and tested to see if the levels changed over the sample. Then, I estimated league-wide returns to skill. I found that returns to skill have not significantly changed, but variance in skill has …