AC: Research Reports
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Browsing AC: Research Reports by Subject "Accounting (General)"
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- PublicationAn Investigation of Accounting Information Quality: A Comparative Study ofListed Companies on the Stock Exchange of Thailand and China(University of the Thai Chamber of Commerce, 2011)
; University of the Thai Chamber of Commerce. School of AccountancyThe main objective of this study is to investigate the level of accounting information quality of listed companies on the Stock Exchange of Thailand (SET) and the Shanghai Stock Exchange (SSE). In addition, the paper also compares the level of accounting information quality of listed companies of two countries. Two perspectives of accounting information quality are measured: market-based perspective (value relevance of earnings) and accounting-based perspective (earnings persistence). The regression of stock return on earnings per share is the representative of the value relevance of earnings whilst the regression of future earnings on current earnings is the representative of earnings persistence. The results indicate that earnings are value relevant information and they have the persistence properties for listed companies on the SET and the SSE. For the pooled-periods of the study, the value relevance of earnings of listed companies on the SET is more than that of listed companies on the SSE. Similarly, earnings persistence of listed companies on the SET is more than that of listed companies on the SSE significantly.The study further investigates the value relevance of earnings and earnings persistence for yearly data. The highest return and earnings relation is found in year 2008 while the highest earnings persistence is found in year 2007 for listed companies on the SET and the SSE. In addition, the findings reveal that the significant difference of value relevance of earnings between Thai and Chinese listed firms appears in year 2007, while the significant difference of earnings persistence between listed companies on the SET and the SSE is found in all years. That is, the value relevance of earnings of listed companies on the SET is more than that of listed companies on the SSE in year 2007 whilst earnings persistence of listed companies on the SET is more than that of listed companies on the SSE for all years. The results in this paper will directly contribute to the accounting standard setters for issuing the accounting standards and the regulators for issuing the control rules including the investigation of accounting information quality of two stock exchanges.43 256 - PublicationNet Income Per Head of Students between the Students in the Field of Pure Science and the Field of Social Science(University of the Thai Chamber of Commerce, 2005)
; University of the Thai Chamber of Commerce. School of AccountancyThe objective of this research is to study the cost and revenue of students in thefield of pure science and social science. The data is used from the students of the universityof the Thai Chamber of Commerce in the year of 2002 and 2003. The data consists of theoperating cost and capital expenditure. The operating cost was analysed in term of fixedcost, variable cost, direct cost and indirect cost and these was analyzed in the field of purescience and social science.The researcher calculates net revenue per head by deduct revenue per headfrom total costs per head of each field and compare together.The result of this research shows that the revenue cannot separately recordedby schools, so the revenue per head of both field is equal to each other. In the year 2002was 42,419.37 baht and in 2003 was 46,140.13 baht. The university cost structure isseparated in two sections by operating cost and capital expenditure. In the year 2002, Theoperating cost consists of staffing cost 44.97% and academic cost 16.58%, for the year2003, staffing cost was 44.04% and academic cost was 15.75%In 2002, The capital expenditure was mostly invested in support function areawhich was 69.77%, The filed of pure science was 24.33%. The type of investment is toolsand equipments of administration was 35.30% and the investment in tools and equipmentsof education was 21.21%In 2003, The capital expenditure was mostly the investment in support functionarea was 77.52% and the investment in pure science field was 13.91%. The type of investment consists of the tools and equipment of administration which was 36.45% and thebuilding and construction was 24.65%From the analyzing cost of operation shows that the cost per head of studentsfor the year 2002, the field of pure science and the field of social science was 49,834.39baht and 31,031.87 baht respectively. The cost per head of the field of pure science wasmore than the field of social science was 18,797.52 baht. For the year 2003, the cost perhead of pure science and social science was 50,164.25 baht and 34,515.20 bahtrespectively. The cost per head of pure science was more than social science was15,649.05 baht.The net revenue comes from revenue per head minus by cost per head of eachfield. The result in the year of 2002, pure science was loss 7,415.02 baht and social sciencewas gain 11,382.50 baht. If we calculate in both fields, the net revenue per head will be3,967.48 baht. In 2003, the result is net revenue per head 7,600.81 baht by net loss perhead of pure science was 4,024.12 baht and net gain per head of social science was11,624.93 baht.There are some suggestions, first the university should record the dataseparately by divisions, departments or schools and some information is mostly significantto compare the efficiency of using assets such as square-metre for using building, hours forlibrary services and laboratories or any activities can be specific to use assets or servicesfor the purpose to allocate cost fairly to the departments or schools. Secondary, there are alot of data or information, that the university should invest by using new technology –computer system to keep the data which will can make the information accurate and helpthe administration in planning and decision making. It is the most important for the universityto set the policy and strategic planning.14 163 - PublicationQuality of Earnings and Operating Efficiency of Thai Commercial Banks(University of the Thai Chamber of Commerce, 2007)
; ;School of AccountancyUniversity of the Thai Chamber of Commerce. School of AccountancyThe objectives of this research are to analyze quality of earnings and operatingefficiency of listed companies in the bank sector, to study the relation between quality ofearnings and operating efficiency, and to compare the quality of earnings and operatingefficiency between small , medium , and large banks. The data is collected from annualfinancial statements of ten banks between 2001-2005. They are divided into 3 bankgroups in accordance with total assets : large, medium and small banks groups.Statistical analysis methods are based on percentage, mean , and trend analysis. Therehypothesis are tested in this study by carrying out correlation Pearson coefficients(Scheffe) and One-Way ANOVA .The results indicate that from 2001 to 2005, 50 percent of the banks have qualityof earnings more than the average of the sector’s, 50 percent of the banks have ratio ofcash flow from operations per average total assets more than the average of thesector’s and 50 percent of the banks have ratio of cash flow to revenue more than theaverage of the sector’s. In addition, quality of earnings is significantly related withoperating efficiency. Quality of earnings is not different in accordance with sizes of bankand ratio of cash flow from operations per average total assets is not different, too.Ratio of cash flow to revenue is different in accordance with sizes of the bank.29 1007 - PublicationThe Relationship between Intellectual Capital, Firms’ Market Value, and Financial Performance: Empirical Evidence from Asian Countries(University of the Thai Chamber of Commerce, 2014)
; University of the Thai Chamber of Commerce. School of AccountancyThe purpose of this research is to explore the extent of Intellectual Capital (IC) and its three components among Asian countries, and examine the relationship between firms’ IC, market value, and financial performance. The study uses the data of 220 technology firms listed on five Asian stock exchanges of year 2011. Pulic’s Value Added Intellectual Coefficient (VAICTM) model is adopted as a measure of efficiency from capital employed (VACA), human (VAHU) and structural capital (STVA). The Kruskal-Wallis one-way ANOVA and multiple regression analysis have been utilized to test the hypotheses. The results reveal that there is no significant difference in VAICTM across five Asian countries; however, firms in each country tend to place a different degree of emphasis on VAICTM components to generate total value of IC. The results further indicate a positive relationship between IC and stock market value, confirming that firms with greater IC tend to have better market performance. Nevertheless, the findings on relationship between IC and financial performance measures are mixed. Specifically, IC is found to be positively associated with margin ratio and ROA, but not with ROE, revenue growth, and employee productivity. VACA and VAHU are found to be the most influential value drivers for both market value and financial performance while STVA possesses less importance. This study contributes to the IC literature by expanding the knowledge of IC into the emerging economies, and providing a national comparative IC research when it is limited.37 367