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Full-Text Articles in International Economics
Testing The Determinants Of Stock Exchange Index Comovement In Thailand Stock Exchange, Nuntapat Asavaroengchai
Testing The Determinants Of Stock Exchange Index Comovement In Thailand Stock Exchange, Nuntapat Asavaroengchai
Chulalongkorn University Theses and Dissertations (Chula ETD)
A study into the effects of different macroeconomic variables on the comovement between the Stock Exchange of Thailand (SET) Index and the Standard & Poor's 500 (S&P 500). These effects are tested using OLS regression in an annual and quarterly frequency. Real Interest Rate Difference between the two countries is found to have a significant negative effect, likely due to investors turning to Thailand when it has higher real interest rate. Income Level is found to be a significant positive effect, as countries with higher income are more integrated with the US. As the economy naturally grows, it is likely …
Institutional Factors And Cross-Border Merger And Acquisition : Evidence From Selected Asian Countries, Haneeta Phuriputranonth
Institutional Factors And Cross-Border Merger And Acquisition : Evidence From Selected Asian Countries, Haneeta Phuriputranonth
Chulalongkorn University Theses and Dissertations (Chula ETD)
The objective of this study is to examine the impact of institutional factors on cross-border merger and acquisition (M&A) inflows by using a panel data of 18 selected Asian countries from 2002 to 2016. This study contributes to the existing literatures by using various measures of institutional factors as the determinants of cross-border M&A into selected Asian countries and examining at the disaggregated level according to country’s income level. There are two main results from this study. First, two institutional factors, namely control of corruption and voice and accountability, have significant effect on cross-border M&A into selected Asian countries. Higher …
Which Types Of Investor Investment Flow Affect Thailand Stock Market Index, Net Teeramungcalanon
Which Types Of Investor Investment Flow Affect Thailand Stock Market Index, Net Teeramungcalanon
Chulalongkorn University Theses and Dissertations (Chula ETD)
This study examines the effect of types of investor investment flow on Thailand Stock Market Index returns. Daily data on investment types, namely, foreign investors, institutional investors, proprietary investors, and retail investors from the Stock Exchange of Thailand for the period 2015 to 2020 is used. The results from the OLS model show that proprietary investors dominate the SET index. We also conduct a Granger causality test to understand the relationship between the SET index and investor investment flow. This study also examines the relation between SET volatility and investor behavior. The result shows that when the SET index has …
The Determinant Of International Sovereign Bond Financing In Developing Countries, Thanatcha Varaputtanon
The Determinant Of International Sovereign Bond Financing In Developing Countries, Thanatcha Varaputtanon
Chulalongkorn University Theses and Dissertations (Chula ETD)
Governments need to secure finance for their country’s public projects. There are various ways for governments to acquire funds, for example, through taxation, borrowing money from international banks, issuing government bonds, and so on. For developing countries, a government may consider issuing international sovereign bonds to meet the country’s financial needs. This thesis looks at the determinants of international sovereign bond financing by 36 emerging economies using data collected from the Bloomberg terminal on international sovereign bonds issued between 1996 and 2016. The thesis adopts the discrete choice logit-fixed effect model to empirically verify factors suggested by S&P (2014) that …
Impact Of Growth In International Tourism Industry Contributed To Co2 Emission In Cambodia, Philippines And Thailand, Juthamard Laohawattanajinda
Impact Of Growth In International Tourism Industry Contributed To Co2 Emission In Cambodia, Philippines And Thailand, Juthamard Laohawattanajinda
Chulalongkorn University Theses and Dissertations (Chula ETD)
Tourism is generally considered a clean industry, one of the reasons is tourism increasing investment in traveling facilities, instead of investment in factories. Furthermore, increasing tourism development relies on the protection of the natural environment and ecology. However, tourism development, like all industrial development, also comes with the higher demand in energy consumption and lack of management in the tourism industry resulting in environmental degradation The paper investigated the effect of environmental degradation in both aspects of destination factors and tourist factors based on the EKC hypothesis by incorporating trade openness and CO2 emission in Cambodia, Philippines, and Thailand which …
Location Determinants Of Foreign Direct Investment In Real Estate : Evidence From China, Yi Tang
Location Determinants Of Foreign Direct Investment In Real Estate : Evidence From China, Yi Tang
Chulalongkorn University Theses and Dissertations (Chula ETD)
The objective of this paper is to examine factors affecting locational choice of foreign direct investment (FDI) in China’s real estate. The panel data selected 32 provinces of China during 2003 to 2017 are used in the analysis. The results show that GDP per capita, population, and loan rate are important factors affecting FDI in China’s real estate market. This reflects that China's economic growth made a significant contribution to the growing trend of FDI in the real estate market. However, the investment of foreign real estate developers in cities in the eastern, central and western parts of China is …
The Effect Of Outward Fdi Of China On The Export Of China To Asean Countries, Ziang Li
The Effect Of Outward Fdi Of China On The Export Of China To Asean Countries, Ziang Li
Chulalongkorn University Theses and Dissertations (Chula ETD)
With the guidance of the Chinese "One Belt One Road" policy and the development of China-ASEAN Free Trade Area, trade and investment between China and ASEAN have become more frequent. Based on the panel data from 2005 to 2018, this paper starts from two steps to empirically analyze the determinants of Chinese outward Foreign Direct Investment to ASEAN and its impacts on the export of China to ASEAN. As a result, China's motives for FDI to ASEAN are more inclined to seek market size, and China tends to invest in ASEAN countries with political stability and a high degree of …
An Investigation Of Etf Flows : Asset Allocation Perspectives, Boonyaporn Wongsawatgul
An Investigation Of Etf Flows : Asset Allocation Perspectives, Boonyaporn Wongsawatgul
Chulalongkorn University Theses and Dissertations (Chula ETD)
This study investigates impacts of asset allocations on ETF flows across asset classes in a panel form, utilizing fixed-effects panel regression. The period of study covers October 2008 to July 2019. The investment universe contains 9 U.S.-listed ETFs, classifying into 5 asset classes. Monthly asset allocations are obtained from 5 optimization strategies based on mean-variance and risk-based optimizations. The findings indicate that asset allocations of risk-based optimization strategies significantly explain fund flows across asset classes. It implies that ETF market participants attempt to stabilize portfolio volatilities rather than maximize portfolio expected returns or risk-adjusted returns. This study further analyses relations …
Predicting Market Crashes Using Systemic Risk And Volatility Spillovers : A Deep Learning Approach, Kornprarun Mahutchariyakul
Predicting Market Crashes Using Systemic Risk And Volatility Spillovers : A Deep Learning Approach, Kornprarun Mahutchariyakul
Chulalongkorn University Theses and Dissertations (Chula ETD)
We develop a model for predicting market crashes in the Stock Exchange of Thailand using a deep learning-based anomaly detection approach (LSTM-VAE). The model aims to detect market behavior before each market crash. Apart from the common stock market variables, we feed the model with the indices of systemic risk, and of volatility spillovers. With these two indices, the model takes into account the influences from both inside and outside the particular stock market. We find that in large crashes our model gives the crash warning signals shortly after the SET index reaches its peaks and long before the index …
Expectations And Reality In Meeting Financial Needs Of Thai Elderly : A Gender Perspective, Phantira Soontornsittipong
Expectations And Reality In Meeting Financial Needs Of Thai Elderly : A Gender Perspective, Phantira Soontornsittipong
Chulalongkorn University Theses and Dissertations (Chula ETD)
Using the 2007 Survey of Knowledge and Attitudes on Elderly Issues surveying respondents aged 50 to 59 and the 2017 Survey of Older Persons in Thailand surveying respondents aged 60 to 69, this study identified a cohort to examine the gap between reality and expectations of Thai elderly males and females with regards to financial sources in meeting financial needs at old age with emphasis placed on the effect of regions and education. Three models of OLS dummy regression were ran to find the magnitude, sign, and significance of the reality-expectations gap. The results of the study found that the …