BA: Research Reports

Permanent URI for this collection

https://scholar.utcc.ac.th/handle/6626976254/89

Browsing BA: Research Reports by Subject "Finance"

Now showing 1 - 3 of 3
  • Thumbnail Image
    Publication
    Determinants of Capital Structure of Listed Companies in Thailand
    (University of the Thai Chamber of Commerce, 2011)
    วรรณรพี บานชื่นวิจิตร
    ;
    School of Business
    ;
    University of the Thai Chamber of Commerce. School of Business
    The determinants of capital structure of 81 listed companies from 6 industries on the Stock Exchange of Thailand from 2004 to 2008 are investigated. After controlling for industry, profitability, size, and tangibility affect leverage significantly. Firms with low profitability, large size, and low tangibility have high leverage. However, growth and volatility do not determine leverage. Furthermore, firms in retail business sector of service industry acquire more funds from short-term debt in order to align with their short-term assets from daily operations.
      15  128
  • Thumbnail Image
    Publication
    Efficiency Analysis of Life Insurance Companies in Thailand
    (University of the Thai Chamber of Commerce, 2011)
    Li Li
    ;
    University of the Thai Chamber of Commerce. School of Business
    This paper studies the efficiency of 24 life insurance companies in Thailand during the period 2001-2008. The DEA approach is used to measure each company’s cost efficiency,technical efficiency, allocative efficiency, pure technical efficiency, and scale efficiency. The annual average efficiency scores of life insurance companies in Thailand are found tobe as follows: 67.8% technical efficiency, 43% allocative efficiency, 28.2% cost efficiency, 77.4% pure technical efficiency and 86.1% scale efficiency. The results of Tobit regression reveal that foreign ownership is significantly positively related to allocative, technical and cost efficiencies. Size and human capital are found to be significantly positively related to all 5 types of efficiency. Whereas the real GDP growth rate is significantly negatively related to the technical, pure technical and scale efficiencies.
      22  139
  • Thumbnail Image
    Publication
    The Performance Evaluation of Retirement Mutual Funds (RMFs) in Thailand
    (University of the Thai Chamber of Commerce, 2010)
    Pusuwanaratana, Sukanya
    ;
    University of the Thai Chamber of Commerce. School of Business
    The objectives of this research are to study rate of return and performance evaluation of Retirement Mutual Funds in Thailand by using secondary data from January 2002 to December 2007, covering 64 Retirement Mutual Funds. The analysis is performed by using Capital Asset Pricing Model:CAPM and performance is evaluated by using Sharpe ,Treynor and Jensen model. Statistical analysis methods are based on mean, standard deviation and coefficient of variation. The hypotheses are tested by carrying out Paired t – test, One-Way ANOVA and Pearson correlation coefficients .The results found that equity, mix and money market policies have rate of higher average returns than market (benchmark), but debt policy has lower average returns than market with statistically significant of the 99 percent level. The performance of Retirement Mutual Funds is evaluated by Sharpe and Treynor model found that equity, mix and money market policies have higher Sharpe’s ratio and Treynor’s ratio than market , while debt policy has lower Sharpe’s ratio and Treynor’s ratio than market. And the performance of Retirement Mutual Funds is evaluated by Jensen model found that equity and mix policies have excess returns with statistically significant of the 99 percent level, while debt and money market policies have low return with statistically significant of the 99-percent level. That is equity and mix policies have over-perform the market but debt and money market policies have under-perform the market.
      16  149