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Do Corporate Governance Reports Of Thai Listed Companies Help Investors Avoid Stock Crash Risk
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Book Synopsis Do Corporate Governance Reports of Thai Listed Companies Help Investors Avoid Stock Crash Risk? by : Patara Wattanasriroj
Download or read book Do Corporate Governance Reports of Thai Listed Companies Help Investors Avoid Stock Crash Risk? written by Patara Wattanasriroj and published by . This book was released on 2017 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the effects of corporate governance quality on future stock crash risk. I find the evidence that firms that experience in high corporate governance quality are less likely to crash. Even after control year effect, the result still holds during 2015 to 2017. I also find that cumulative abnormal returns of stock of firms that experience in corporate governance quality downgraded significantly dropped following downgraded was announced while the reversal effects do not pronounce when firms experience in governance quality improved. This suggests that investors in Thailand stock market take the serious action only when negative shock in governance quality of firm is announced.
Author :Sakulrat Montreevat Publisher :Institute of Southeast Asian Studies ISBN 13 :9812302662 Total Pages :92 pages Book Rating :4.8/5 (123 download)
Book Synopsis Corporate Governance of Listed Companies in Thailand by : Sakulrat Montreevat
Download or read book Corporate Governance of Listed Companies in Thailand written by Sakulrat Montreevat and published by Institute of Southeast Asian Studies. This book was released on 2006 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides an understanding of corporate governance in the context of Thailand. It explains the background and scope of corporate governance in Thailand before and after the Asian financial crisis, and details the roles of the relevant agencies and the key elements of corporate governance for listed companies. The author reviews the assessments made by both local and international organizations and concludes by looking at the challenges ahead and offering policy recommendations for raising the level of corporate governance in Thailand.
Author :Sakulrat Montreevat Publisher :Institute of Southeast Asian Studies ISBN 13 :9812303308 Total Pages :142 pages Book Rating :4.8/5 (123 download)
Book Synopsis Corporate Governance in Thailand by : Sakulrat Montreevat
Download or read book Corporate Governance in Thailand written by Sakulrat Montreevat and published by Institute of Southeast Asian Studies. This book was released on 2006 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt: Thailand's currency crisis set off a national and regional economic meltdown in the closing years of the twentieth century. Written by Thai economists, this book gives a progress report on good corporate governance practices in listed non-financial companies, financial institutions, state-owned enterprises, and non-listed companies in Thailand.
Book Synopsis Thailand's Corporate Financing and Governance Structures by : Pedro Alba
Download or read book Thailand's Corporate Financing and Governance Structures written by Pedro Alba and published by World Bank Publications. This book was released on 1998 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: November 1998 Weaknesses in corporate governance and the fragile financial structure of many corporations contributed to, and deepened Thailand's recent financial crisis. Large corporations need to reduce their vulnerability to economic shocks and improve corporate governance; smaller firms should achieve a more stable funding structure. Alba, Claessens, and Djankov assess Thailand's policy options for reducing large corporations' vulnerability to economic shocks and improving their corporate governance - and for providing smaller firms a more stable funding structure. Using data for firms listed on Thailand's stock exchange, they empirically assess the relative importance of various factors determining the cost of capital, the availability of financing, and policies and distortions that affect corporate governance in nonfinancial firms. The empirical findings highlight weaknesses in corporate governance and the inherent risks in Thailand's corporate financing structures. They conclude that the most important ask in improving the structure of corporate financing and the framework for corporate governance is to change incentives. This will involve: * Accelerating legal reform, including reform of bankruptcy and foreclosure laws. * Improving bank monitoring of enterprise management and encouraging banks to develop more arm's-length relationships with firms. This will require greater transparency and disclosure of ownership relationships and stricter enforcement of insider and related lending limits, violation of which contributed poor intermediation and the recent crisis. * Improving disclosure and accounting practices. Self-regulatory agencies may need to play more of a role, possibly with more legal power to discipline violators. * Better enforcement of corporate governance rules. The formal structure for corporate governance is standard but enforcement is weak. * Facilitation of equity infusions. Investors - especially minority shareholders - may need to play a more direct role in monitoring and disciplining managers. To attract new infusions of equity, new equity owners may need more-than-proportional representation on the board of directors until other investor protection mechanisms are strengthened. * Improving the framework for corporate governance. A broad public discussion of corporate governance, similar to recent discussions in the United Kingdom and elsewhere, may be needed to clarify the distribution of control in the economy's real sector. * Strengthening institutions responsible for gathering and analyzing data on firms of all sizes and for monitoring firm performance and behavior. This paper-a product of the Economic Policy Unit, Finance, Private Sector, and Infrastructure Network-is part of a larger effort in the network to study the performance and financing structures of East Asian corporations.
Book Synopsis Corporate Governance Country Assessment by : Weltbank
Download or read book Corporate Governance Country Assessment written by Weltbank and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This report assesses Thailand s corporate governance policy framework. It highlights recent improvements in corporate governance (CG) regulation, makes policy recommendations, and provides investors with a benchmark against which to measure corporate governance in Thailand. It is an update of the 2005 Corporate Governance Report on the Observance of Standards and Codes (CG ROSC). Good corporate governance enhances investor trust, protects minority shareholders, and encourages better decision making and improved relations with workers, creditors, and other stakeholders. Better investor protection can lower the cost of capital and encourage companies to list and raise funds through equity markets. It is crucial to protect retirement savings invested in listed companies. Good corporate governance also helps to ensure that these companies operate more transparently and efficiently.
Book Synopsis The Influence of Institutional Shareholdings on Corporate Governance by : Peeriya Peerapongpipath
Download or read book The Influence of Institutional Shareholdings on Corporate Governance written by Peeriya Peerapongpipath and published by . This book was released on 2019 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt: Institutional investors have high influence on capital market so that this research aims to examine the influence of institutional shareholdings on corporate governance (CG) of the listed companies on the Stock Exchange of Thailand in the SET 100. Institutional shareholdings were categorized into four types as follows: 1. commercial banks, mutual funds, insurance companies, and securities public companies in Thailand (FIBTMF), 2. government agencies and state enterprises of Thailand (FIGV), 3. Foreign banks (FIBF), and 4. International investors (FIIN). The CG was measured by the CG scoring of Thai Institute of Directors Association (IOD). The study period covered 2013 to 2017. In addition, the data were analyzed by logistic regression analysis, separated into two models: the first model investigated overall institutional investors toward CG; whilst, the second model examined the four categories of institutional investors as earlier mentioned. As a result, the study revealed that the overall institutional investors had statistically positive influence on the CG at 0.05 level of significance. The second model exposed that government agencies and state enterprises of Thailand as well as international investors had statistically positive impact on the CG at 0.05 and 0.10 level of significance, respectively. Therefore, this research implied the important role of institutional investors toward the CG.
Book Synopsis The Impact of the Disclosure in the Annual Report on the Decisions of Investors of Listed Companies in the Stock Exchange of Thailand by : Titaporn Sincharoonsak
Download or read book The Impact of the Disclosure in the Annual Report on the Decisions of Investors of Listed Companies in the Stock Exchange of Thailand written by Titaporn Sincharoonsak and published by . This book was released on 2018 with total page 8 pages. Available in PDF, EPUB and Kindle. Book excerpt: This research aims to examine the impact of the disclosure in the annual report with regards to the abnormal returns and the cumulative abnormal returns of the companies listed in the Stock Exchange of Thailand. The sample for this research are 230 of the listed companies in the Stock Exchange of Thailand between the year 2013 and 2017. Adopted in the data analysis are the Chow test for the analysis on split data sets and the multiple regression analysis. The analysis of the data set split into a group containing companies with low book value per share and the other group containing companies with high book value per share finds that the auditor's report, the investment in subsidiaries and associated companies, the corporate governance, the current ratio, the quick ratio, the operating profit margin, the return on asset ratio, the return on equity ratio, the interest coverage ratio, the dividend payout ratio, the debt to equity ratio affect the abnormal returns and the cumulative abnormal returns in different ways. It is also found that the relationship between the information disclosed in the annual report, the abnormal returns as well as the cumulative abnormal returns, and the consequent decisions of investors differs between firms with high book value per share and those with low book value per share.
Book Synopsis Corporate Governance and Trading Behaviour by :
Download or read book Corporate Governance and Trading Behaviour written by and published by . This book was released on 2009 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study investigates the effect of corporate governance and trading behaviour of various investor types (local retail, local institution and foreign investors) in Thai capital market. By extending the probability of information-based trading (PIN) model by Easley et al. (1998), the study estimates the uninformed arrival rates for each types of investor. Using a sample of firms listed on Stock Exchange of Thailand during 2000-2007, the result shows that there is a positive relation between the corporate governance level and the arrival rates of uninformed trader for local institution and foreign investors. However, there is no association between the corporate governance level and the arrival rate of uninformed local retail investors. These results are confirmed by the associations between the initiated trades and the corporate governance level for these investor types. Overall the results of the study are consistent with the notion that institutional and foreign investors do pay attention to corporate governance of a firm in their trading while retail investors do not.
Author :CFA Institute. Centre for Financial Market Integrity Publisher : ISBN 13 :9780935015997 Total Pages :56 pages Book Rating :4.0/5 (159 download)
Book Synopsis The Corporate Governance of Listed Companies by : CFA Institute. Centre for Financial Market Integrity
Download or read book The Corporate Governance of Listed Companies written by CFA Institute. Centre for Financial Market Integrity and published by . This book was released on 2009 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis OECD Sovereign Borrowing Outlook 2021 by : OECD
Download or read book OECD Sovereign Borrowing Outlook 2021 written by OECD and published by OECD Publishing. This book was released on 2021-05-20 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt: This edition of the OECD Sovereign Borrowing Outlook reviews developments in response to the COVID-19 pandemic for government borrowing needs, funding conditions and funding strategies in the OECD area.
Book Synopsis Capitalizing China by : Joseph P. H. Fan
Download or read book Capitalizing China written by Joseph P. H. Fan and published by University of Chicago Press. This book was released on 2013 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: La 4e de couverture indique : "Despite a vast accumulation of private capital, China is not embracing capitalism. Deceptively familiar capitalist features disguise the profoundly unfamiliar foundations of "market socialism with Chinese characteristics." The Chinese Communist Party (CCP), by controlling the career advancement of all senior personnel in all regulatory agencies, all state-owned enterprises (SOEs), and virtually all major financial institutions state-owned enterprises (SOEs), and senior Party positions in all but the smallest non-SOE enterprises, retains sole possession of Lenin's Commanding Heights. The chapters in this volume examine China's high savings rate, banking system, financial markets, financial regulations, corporate governance, and public finances; and consider policy alternatives the CCP might consider if its goal is China's elevation into the ranks of high income countries."
Book Synopsis Non-Preemptive Share Issues in Asia by : Padma Venkat
Download or read book Non-Preemptive Share Issues in Asia written by Padma Venkat and published by . This book was released on 2014-01 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Corporate Governance Strengthening Latin American Corporate Governance The Role of Institutional Investors by : OECD
Download or read book Corporate Governance Strengthening Latin American Corporate Governance The Role of Institutional Investors written by OECD and published by OECD Publishing. This book was released on 2011-07-01 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report reflects long-term, in-depth discussion and debate by participants in the Latin American Roundtable on Corporate Governance.
Book Synopsis Corporate Governance Around the World by : Ahmed Naciri
Download or read book Corporate Governance Around the World written by Ahmed Naciri and published by Routledge. This book was released on 2008-02-14 with total page 545 pages. Available in PDF, EPUB and Kindle. Book excerpt: The last Asian financial crisis, coupled with the western series of corporate scandals, has caused investors and citizens to doubt mangers ability to guarantee credible financial information about organizations. Consequently, legislators all over the world have come to realise the necessity of legislating in the area of corporate governance.
Book Synopsis Applied Corporate Finance by : Aswath Damodaran
Download or read book Applied Corporate Finance written by Aswath Damodaran and published by John Wiley & Sons. This book was released on 2014-10-27 with total page 663 pages. Available in PDF, EPUB and Kindle. Book excerpt: Aswath Damodaran, distinguished author, Professor of Finance, and David Margolis, Teaching Fellow at the NYU Stern School of Business, has delivered the newest edition of Applied Corporate Finance. This readable text provides the practical advice students and practitioners need rather than a sole concentration on debate theory, assumptions, or models. Like no other text of its kind, Applied Corporate Finance, 4th Edition applies corporate finance to real companies. It now contains six real-world core companies to study and follow. Business decisions are classified for students into three groups: investment, financing, and dividend decisions.
Download or read book Doing Business 2020 written by World Bank and published by World Bank Publications. This book was released on 2019-11-21 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seventeen in a series of annual reports comparing business regulation in 190 economies, Doing Business 2020 measures aspects of regulation affecting 10 areas of everyday business activity.
Book Synopsis Corporate Governance by : Magdi R. Iskander
Download or read book Corporate Governance written by Magdi R. Iskander and published by World Bank Group. This book was released on 2000 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt: Annotation This report points the way to the establishment of trust and the encouragement of enterprise. It marks an important milestone in the development of corporate governance, and I cannot commend it too highly.--Sir Adrian Cadbury, London Recently, in Russia, a large share of the profits of an oil company was siphoned off by its controlling shareholder, leaving the company in debt to its creditors, employees, and the state. In the Czech Republic, millions of small shareholders lost their right to fair capital gains as tunneling schemes by insiders stripped privatized companies of their assets. Increasingly for developing and transition economies, a healthy and competitive corporate sector is fundamental for sustained and shared growth-sustained in that it withstands economic shocks, shared in that it delivers benefits to all of society. Presently, many developing and transition economies lack the supporting institutions and human resources so critical to sound corporate governance. The challenge for them is to adapt systems of corporate governance to their own corporate structures and implementation capacities, public and private, to create a culture of enforcement and compliance. For the first time, this report incorporates a framework that encompasses the widely differing regimes--political, economic, and social-within which corporations carry on their activities around the world. It recognizes the complexity of the concept of corporate governance and therefore focuses on the principles on which it is based.
