cometadata/datacite-titles-descriptions-related-identifiers huggingface dataset:
DOI: 10.14457/cu.the.2015.84
title: THE ACQUISITION OF L2 ENGLISH NON-NULL ARGUMENTS BY L1 THAI LEARNERS

description: The study explored the acquisition of L2 English non-null arguments by L1 Thai learners, i.e. whether they were able to recognize sentences with null arguments and produce sentences with non-null arguments. Null arguments in Thai can appear in almost any sentential positions and the use of null pronouns in Thai are more preferable than the use of their overt counterparts, while arguments in the English formal register are not allowed to be omitted at all. It is therefore worthwhile investigating whether L1 Thai learners of L2 English can reject English sentences with null arguments and supply overt arguments in the ungrammatical sentences. Based on Markedness Differential Hypothesis (MDH), it is hypothesized that Thai learners have difficulty acquiring L2 English non-null arguments since argument dropping is unmarked while argument retention is marked. The study employed three variables which presumably affected the acquisition, namely animacy, clause types, and prepositional phrases (PPs). A grammaticality judgment task (GJT) and a Thai-English dialogue translation task (DTT) were administered to 31 intermediate and 31 advanced undergraduate L1 Thai students. The results from the GJT suggested that sensitivity to recognize null arguments increased with higher proficiency, whereas those from the DTT showed that both groups met the acquisition criterion of 80%. Paired-samples t-tests were performed to determine whether the three variables affected the acquisition. As for the intermediate group, it was found that clause types and PPs affected their judgments in the GJT, while animacy influenced their production in the DTT, adhering to an alignment of the universal animacy hierarchy and a reduction scale. It is proposed that perceptual saliency could account for the intermediate participants’ preference for null embedded subjects over null matrix subjects and that the lack of argument/adjunct knowledge could account for the intermediate participants’ preference for null object sentences followed by a PP over null object sentences without a PP following. As for the advanced group, it was found that clause types affected their judgments in the GJT. It is proposed that informal styles of communication influenced the advanced participants’ preference for null matrix subjects. It was also found that situation types of verbs affected the advanced group’s judgment on null object sentences. That is, they tended to omit objects of stative verbs more frequently than those of dynamic verbs, which was probably due to the fact that arguments of a dynamic verb are more salient than those of a stative one. In addition, the asymmetrical pattern of recognition and production can probably be accounted for by transfer of training.
DOI: 10.14457/cu.the.2015.85
title: STYLE INVESTING OF VARIOUS INVESTOR TYPES IN THAILAND

description: This study examines the style trading behavior of 4 investor types in Stock Exchange of Thailand during 1999-2013. This study aims to identify two questions. First, do investors employ style trading strategy as one of their trading strategy? Second question is investors have their specific preference style or not. By categorizing stocks into 3 style dimensions: size, value/growth, and momentum, the evidence is found that style trading strategy is used by all type of investors. Furthermore, after comparing each type of investor’s style position with benchmark, evidence is found that each type of investor has their own preference style. Foreign investors prefer to invest in medium size, value, and lowest past return stocks. On contrary, institutional investors prefer to invest in large size, value, and highest past return stocks. Proprietary and individual investors prefer to trade in growth and lowest past return stocks. However, proprietary traders prefer to trade in medium size stocks while individual investors prefer to invest in small size stocks.
DOI: 10.5281/zenodo.4456133
title: Reply to comment on "High-resolution, multi-layer modelling of Singapore's urban climate incorporating local climate zones"

description: This data is for the publication submitted to the Journal of Geophysical Research Atmospheres
DOI: 10.14457/cu.the.2015.86
title: TAKEOVER REGULATIONS AND THE MEDIUM OF EXCHANGE

description: This thesis examines the determinants that affect payment method decisions in mergers and acquisitions in the aspect of takeover regulatory differences between the US and the UK during 1990 to 2014. Two main hypotheses are tested; the risk sharing and the market misvaluation. Meaning that the level of uncertainty and misvaluation (both bidder and target) affect the payment method decisions. The US evidence broadly lends support to these hypotheses because the bidders are the ones who choose the medium of exchange, then offer to the targets. The targets decide whether to take it or leave it. However, these relations are less pronounced in deals involving the UK target as target shareholders have the right to make payment method decisions. Thus, the findings of this thesis taken together suggest that regulatory differences affect payment method decisions diffently.
DOI: 10.14457/cu.the.2015.87
title: The empirical study of factors affecting the success of social enterprise on marketing and social performances

description: This study is the first empirical research conducted in Thailand to examine the performance of social enterprise (SE) through the involving internal and external factors. The objectives of this study are twofold: (1) to discover how the internal and the external factors affecting the success of SE performance and (2) to investigate how marketing and social performances associated with SE performance. The internal factors were social mission, value-based leadership, shared vision, and customer orientation. The external factors were perceived environmental uncertainty and relationship with external organizations. These six variables were based on integrating four theories, i.e. institutional theory, resource-based view theory, social capital theory and contingency theory. Six SE executives were interviewed to explore the key success factors related to SE performance. Questionnaire were developed and pretested, then mailed to 1,475 SEs that were listed in Thai Social Enterprise Office (TSEO).The 300 completed questionnaire returned were from agricultural industry (50.3%), retails (23.7%), food and beverages (14.3%) and the rest were from finance, health care, tourists, education and others. The data was analyzed using SEM-PLS path modeling. The reliability and construct validity were assessed through measurement model. The results of structural model showed that all variables had significant and positive impacts on SE performance i.e. social mission (β = 0.09, p &lt; 0.05), value-based leadership (β = 0.10, p &lt; 0.01), shared vision (β = 0.17, p &lt; 0.01), customer orientation (β = 0.23, p &lt; 0.01), relationship with external organizations (β = 0.19, p &lt; 0.01), and perceived environmental uncertainty (β = 0.11, p &lt; 0.05). These variables explained 45% of SE performance. The results of second order construct also revealed that SE performance was strongly associated with marketing performance (β = 0.92, p &lt; 0.01), and social performance (β = 0.92, p &lt; 0.01), R2 = 0.85. The study provided theoretical and managerial contributions to academicians and executives to better understand the factors affecting SE performances in order to formulate effective marketing strategies for SEs.
DOI: 10.14457/cu.the.2015.88
title: SMART MONEY EFFECT OF RMF AND LTF FLOWS

description: This study examines the short term mutual fund selection ability of investors in Thailand which calls “Smart money effect” Using the open-end domestic equity fund in Thailand between 2004 and 2015.The results indicate that the smart money effect don’t appear in the overall investor in Thailand. By the way, it shows the Dumb money effect. That is, they are not able to move their money into(out of) the future good(poor) performance. This paper separate the group of mutual fund into LTF, RMF (mutual fund which have individual tax benefit) and OTHER (mutual fund which don’t have individual tax benefit).However, after separate the group of investors in each type of fund, it isn’t show the strong evidence that the Smart money effect or Dumb money effect occur on each group of investors. On the other hands, the dumb money effect appears in only overall investors. This result is important to provide the useful information for regulators to review their rule and to remind the overall investors to care about their portfolio return.
DOI: 10.14457/cu.the.2015.89
title: Momentum strategy based on the timing of 52-week high price: Empirical evidence from the Stock Exchange of Thailand

description: The goal of this paper is to study the profitability of momentum strategy based on the timing of 52-week high price in the Stock Exchange of Thailand during the period of January 2005 to December 2015. The results show that stocks that recently achieved the 52-week high price can significantly provide more superior returns than stocks that achieved the 52-week high price in the distant past. The bias agianst 52-week high price will increases if stocks has been traded at this price level shortly. Investors are uncomfortable to bid higher price. But if stock price breaks out 52-week high price, there will be enough momentum to continue the price move in favorable direction. In addition, combining momentum strategy based on the timing of 52-week high price with both momentum strategy based on the nearness of current price to the 52-week high price and value investing strategy significantly increases the profitability compared to momentum strategy based on the timing of 52-week high price.
DOI: 10.14457/cu.the.2015.90
title: TWO-STAGE PREDICTIVE MODEL FOR THAI STOCK RETURN PREDICTION

description: This thesis consists of two parts focusing on predicting the SET50 index return. The first part uses a support vector machine model to predict the daily directions of SET50 index returns while the second part uses the index future returns from the Hangseng, the Dow Jones and their combinations as inputs of a two-stage model which is composed of a support vector machine model for the directional prediction in the first stage and a neural network model for the value prediction in the second stage to predict five-minute SET50 index returns. Firstly, in this thesis, the combined data preprocessing and classification technique for the stock return direction is proposed. The support vector machine is selected due to its popularity for the stock return direction prediction. To give additional information for the support vector machine, the higher order differences and the higher order lags are fed as the additional inputs. Our experiments show that the predictive accuracy with respect to the number of difference orders and the number of lags are statistically insignificant. Nonetheless, the best setting of the support vector machine model shows the accuracy improvement over the other models such as the neural network model by Fernandez-Rodriguez et al. (2000). Secondly, the two-stage model for the five-minute stock index returns is proposed. The inputs are the Hangseng and the Dow Jones index future returns and their combinations. Returns with small magnitude are filtered out at different thresholds ranging from 0 percentile to 95 percentile. Our two-stage model uses a support vector machine model to generate the direction of the five-minute stock index return and attaches it as the input of the second stage which is a neural network to predict the value of the five-minute stock index. Our two-stage model outperforms a single neural network model in terms of accuracy. The magnitude of the stock returns used in the model affects the predictive performance. Dropping low percentile ranks of the stock index returns improves the predictive accuracy.
DOI: 10.14457/cu.the.2015.91
title: EARNINGS MANAGEMENT, CORPORATE GOVERNANCE AND CASH COMPENSATION: EVIDENCE FROM THE STOCK EXCANGE OF THAILAND

description: Prior studies provide the evidence of using earnings management to increase the value of compensation. When managers and independent directors’ cash compensations are based on firm’s financial performance, it may lead those who pursue self-interest to give appearance of better performance through earnings management. This thesis examines the relation between earnings management, cash compensation and corporate governance. This thesis also examines the impact of cash compensation and corporate governance on adjusted firm financial performance with the effects of earnings management. This thesis further investigate whether market react to the change in cash compensation and discretionary accruals around the form 56-1 announcement date. Sample in this thesis is Thai listed firms in Stock Exchange of Thailand during 2005 to 2013. The results suggest the change in cash compensation of executive officers does not relate to earnings management. Increasing the cash compensation for executive officers improves the firm financial performance. The increasing in cash compensation of independent directors help reducing the use of earnings management.
DOI: 10.14457/cu.the.2015.92
title: Understanding the Liquidity Commonality in the Stock Exchange of Thailand

description: This thesis examines liquidity commonality in the Stock Exchange of Thailand (SET) during 2003 to 2013 in respect of supply-side (funding liquidity of financial intermediaries) and demand-side (correlated trading of market participants) determinants of liquidity. Unique asymmetric pattern is found, where the commonality greater increases during large market rising than during large market declining period. The result shows more reliable evidence of demand-side hypothesis. Investor-types’ trading activities affect differently to the commonality in liquidity of each stock-size. For instance, retail and foreign investor trading are found to create greater liquidity commonality during high volatility period, while proprietary trading has the opposite effect. On average, large-cap stocks have higher commonality in liquidity, but small-cap stocks have greater commonality risk from correlated trading activity of particular investor-type.
DOI: 10.14457/cu.the.2015.93
title: RELATIONSHIPS BETWEEN CONSUMPTION VALUES, PERSONAL CHARACTERISTICS AND BEHAVIORAL INTENTIONS IN MOBILE SHOPPING ADOPTION AMONG DIFFERENT PRODUCT AND SERVICE TYPES

description: Past literature indicated that consumption value is an important factor in consumer decision-making to adopt online shopping. However, most studies focused only on a single product or service type. Thus, the generalization of the results is limited. Moreover, previous studies of the indirect effects of personal characteristics on online shopping adoption emphasized solely through utilitarian values. None investigated the indirect effects through consumption values which include both utilitarian and hedonic aspects. This study is to examine the relationships between consumption values, personal characteristics and behavioral intentions in mobile shopping adoption from the perspectives of different product and service types. The results revealed that convenience, security, and emotional values are common values in which consumers of fashion goods and accommodations consider when deciding to purchase on mobile. Apart from common values, travelers also consider conditional and epistemic values when assessing whether to reserve accommodations on mobile. Moreover, innovativeness and self-efficacy were shown to exert the significant indirect effects via consumption values to the intentions to adopt mobile shopping. Managerial implications and suggestions are further discussed.
DOI: 10.14457/cu.the.2015.94
title: The effect of those charged with governance and the adoption of the revised Thai standards on auditing (B.E. 2555) on audit quality

description: This study investigates the effect of those charged with governance (TCWG) characteristics on audit quality during the mandatory adoption of the revised Thai Standards on Auditing (B.E.2555). The revised Thai Standards on Auditing (henceforth, “the revised TSAs”) aim to improve audit tasks and emphasize important roles of TCWG to collaborate with auditors to enhance audit quality. Previous studies have extensively explored audit quality especially in term of supply-side factors such as auditors’ and audit firms’ characteristics. Filling the gap in the existing literature, this paper examines four demand factors of audit quality which are management’s risk of manipulation, management’s family ownership, audit committee rotation, and audit committee’s accounting expertise. Based on the samples of listed companies in the Stock Exchange of Thailand in the period of 2009 to 2014, the results show that high potential manipulators are more likely to involve in lower level of audit quality. This association is more pronounced in the period after the revised TSAs adoption. Supporting the alignment effect, management with higher family ownership tend to support greater level of audit quality, especially after the revised TSAs adoption. However, there is no evidence of the association between audit committee’s traits and audit quality. These findings are robust to multiple additional approaches after controlling for auditor’s traits and confounding effect from accounting standards changes. Overall, this paper offers insight into the roles of TCWG on audit quality, provides early evidence of the revised TSAs adoption, and encourages harmonious cooperation among audit clients, auditors, and regulators to improve audit quality.
DOI: 10.14457/cu.the.2015.95
title: Disaggregation of the investment property components and the aggregated reliability score

description: This research is centered on the International Accounting Standard (IAS) 40: Investment Property to identify the additional characteristics of firms adopting the fair value model and to investigate the value relevance of investment property of firms in the Stock Exchange of Thailand during the years 2011 to 2014. This research presents, both firm views and investor views in Thailand, the concept of disaggregation deployed to classify the aggregated investment property into the non-depreciated and depreciated investment properties and the Aggregated Reliability Score (AR-score) initiative proposed for partitioning the sampled firms in accordance with their respective reliability of fair value measurements in order to hold constant the reliability effect and derive the modified value relevance of the investment properties. This research uses the secondary From firm views, the research findings reveal that the investment property components and the fair value measurement reliability influence the firms’ accounting choices (i.e. the fair value model versus the cost model). From investor views, the cost model is of greater value relevance vis-à-vis the fair value model due to the investors’ vehement attachment to the cost model, a phenomenon prevalent in many less advanced economies, including Thailand. Nevertheless, the post-partitioning results, in which the sampled firms are partitioned by their respective AR-scores, show that the fair value model offers more value relevance in the high reliability group. Specifically, the relative superiority of the fair value model to the cost model is reportedly identified in the aggregated investment property and the depreciated investment property, whereas no such superiority exists in the non-depreciated investment property. It can be claimed that the depreciated investment property is a representative of the aggregated investment property for investors' decision-making. Furthermore, it is expected that the improved reliability in fair value measurements would contribute to investors’ increased trust in and reliance on the fair value. Conclusively, the disaggregation of the investment property components and the use of AR-score develop a new set of knowledges that differ from prior value relevance publications.
DOI: 10.14457/cu.the.2015.96
title: THE IMPACTS OF OFF BALANCE SHEET TYPES AND INVESTMENT POSITIONS ON INVESTORS' JUDGMENTS

description: This study investigated the impact of off-balance sheet (OBS) types and investment positions on investors’ perceived credibility of financial statements and their ability to detect and correct the OBS financing arrangements. Through an experimental approach, given the investors’ knowledge of creative accounting, the research provide evidence that the directional preferences influence the investors’ perceived credibility of the financial statements and also their detection ability of off-balance sheet financing. Specifically, long investors were biased from their directional goal for the firm’s positive performance as compared to neutral investor, i.e. prospective investor. However, no significant difference was found between the short and long investors’ judgements. Further, it was found that off-balance sheet types significantly influenced the investors’ ability to detect and correct the off-balance sheet financing transactions. Given their knowledge of creative accounting, the investors facing with equity method were less likely to detect OBS and possessed a lower ability to make analytical adjustments than those facing with operating lease. The implication of the findings is for the relevant regulatory bodies to revisit the disclosure format related to complex OBS so as to reduce the complexity burden borne by the investors. Moreover, this research is expected to raise investors’ awareness on the usefulness of disclosure information in the footnote section.
DOI: 10.14457/cu.the.2015.97
title: Backtest Criteria for the Quantile Correction under Model Risk

description: The fact that financial risks cannot be exactly determined but have to be estimated make Value-at-Risk (VaR) models less reliable. Thus far, VaR-model risk have gained increasing concerns and have been addressed in two general ways. The first way is to evaluate risk models using statistical tests, called backtests. In particular, backtests employ a comparison of VaR series and realized returns in the specified period to examine whether risk estimates are appropriate or not. The second way is adjusting VaR for model risk, which one of the recently proposed frameworks is the quantile correction method via the outcome of backtesting. Set of backtest methods are chosen for being adjustment criteria by considering three desirable properties of VaR models, namely, unconditional coverage, independence, and magnitude of violations (losses that exceed VaR). This thesis extend the general quantile correction framework by applying various backtest methods focusing on their statistical power of backtests shown by authors. Five standard data generating models (DGMs) are used to compute VaR of Stock Exchange of Thailand (SET) index daily returns. The results from ex post validation show that model-risk-adjusted series provide better results than original VaR in many cases. With regards to criteria sets, higher-statistical-power backtest criteria sets outperform their counterparts when static VaR models are used.
DOI: 10.14457/cu.the.2015.98
title: Fund Flows and Asset Allocation Behavior of Mutual Fund Investors

description: วิทยานิพนธ์ฉบับจัดทำขึ้นเพื่อศึกษาผลกระทบของภาวะเศรษฐกิจและตลาดเงิน-ตลาดทุน ต่อ พฤติกรรมการจัดสรรสินทรัพย์ของนักลงทุนกองทุนรวมในประเทศไทย โดยพบว่าภาวะความผันผวนของตลาดมีผลกระทบเชิงบวกต่อกระแสเงินทุนส่วนเกินที่ไหลเข้ากองทุนตราสารทุน และ มีผลกระทบเชิงลบต่อกระแสเงินทุนส่วนเกินของกองทุนตราสารหนี้ นอกจากนี้เมื่อศึกษาพฤติกรรมของนักลงทุนในแต่ละประเภทของกองทุนพบว่า นักลงทุนมีแนวโน้มจะเลือกลงทุนในกองทุนหุ้นเจริญเติบโตเมื่อภาวะตลาดมีความผันผวนสูง และ จะขายกองทุนตราสารทุนเมื่อเศรษฐกิจมีภาวะต่ำลง รวมถึงได้ศึกษาความแตกต่างระหว่างพฤติกรรมของนักลงทุนที่ได้รับประโยชน์จากภาษี พบว่ามีความแตกต่างกับนักลงทุนปกติ ตรงที่นักลงทุนที่ได้รับประโยชน์จากภาษี จะตัดสินใจลงทุนในช่วงเวลาปลายปีมากกว่าภาวะเศรษฐกิจหรือตลาด