This paper examines whether there is a relation between over-investment and free cash flow. In perfect capital market, it is expected that investment decision should not be influenced by the level of cash flow. However, the free cash flow hypothesis predicts that firms with higher free cash flow will be vulnerable to the agency problem like over-investment. Using the data from listed firms in the Stock Exchange of Thailand during 2001-2013, the result indicates that there is a positive relation between over-investment and free cash flow...

Gold futures contracts are effective to be used as a hedging instrument in Thailand commodity futures exchange especially by bivariate vector autoregression model. The results indicate that constant hedge ratio after controlling for basis risk outperform the time-varying hedge ratio. Comparisons of the in-sample and out-of-sample hedging performance of each model imply that the BVAR model performs the better over OLS model. It is important for gold futures market participants to have an understanding of how effective the commodities futur...

Paper has presented ideal of capital accumulation growth by using Solow Growth Model for Malaysia, Singapore, and Thailand case. Based on past 10 years by those three countries, the economies have expanded. The investment on infrastructure also shows as a part of country’s sustained economic growth such as telecommunications, electricity and ports. In the same time countries are experiencing a growing in shortage of skilled technical personnel. Then, paper’s objective is to examine whether growth of countries is due to countries’ capit...

Although a multitude of research studies have been conducted on communication anxiety, studies investigating cultural factors and communication anxiety from both a reading and writing perspective are limited. To help educators, the present study compared students from Thailand and the People‟s Republic of China (PRC) at an international university, in order to discover if culture, gender and academic achievement are significantly related to reading and writing anxiety. The results indicated that overall reading anxiety was not significantly dif...

For the Roman Catholic Church beginning with Vatican II, interreligious dialogue has been promoted as an instrument to obtain mutual understanding. This has been outlined in the document Nostra Aetate. The Bishops of Myanmar, fully aware that interreligious dialogue is highly necessary for witnessing the gospel of Jesus Christ in this Buddhist-majority nation, have taken steps in their respective dioceses to further promote this approach. This paper is an analysis of the ways this has been implemented. It will show that a positive atti...

In this paper I argue that the symmetric approach to moral responsibility, proposed by John Martin Fischer, should be focused merely on the consequence-particular. Fischer employs the symmetric approach with the intention to solve the asymmetric problems on moral responsibility. The problem arises from Frankfurt’s case, which rejects the principle of alternate possibilities (PAP), and relies on the action, rather than omission resulting in asymmetric problems. Fischer solves the problem by using his guidance control and returns the sym...

The impact of modern technological society on the human spirit and on human values is undeniable. But the ability to philosophically engage with this impact and also to gain the means whereby we could evaluate it lucidly and soberly is a whole other matter. It is difficult for us today to find a place where we could stand outside the contemporary cultural matrix that has come to create our very selves, so as to identify and assess the aspects of our humanity that have always managed to outstrip the cultural conditioning and constructio...

This paper examines questions regarding the alleviation and management of religious conflict. It will first examine the philosophical framework of Chantal Mouffe as a response to Carl Schmitt’s critique of pluralism. Then it will give examples of conflict resolution and the preservation of diversity in such regions as, Lebanon, Indonesia and Thailand. Finally, it will examine these examples as exercises in “agonistics” as understood by Mouffe. This will be shown to be a valuable framework for conflict resolution and democracy in the AS...

This paper investigates the ‘metaphysical’ perspectives of the French philosopher named René Guénon. Although Guénon was French, he was often critical of Western ways of thinking. Especially with regard to the concept of the metaphysical. Turning to the etymology of the word metaphysics, for Guénon metaphysics stands for whatever lies ‘beyond physics.’ This is different than the Aristotelian understanding of metaphysics, since it is always directed to the idea of the natural sciences viewed as a whole. This is a kind of thinking recogn...

The paper’s objective is to analyze the concept of sovereignty in political philosophy with special reference to Thomas Hobbes for the purpose of understanding the changes facing Thai sovereignty from the origin of the modern state to the present time. Especially relevant is Hobbes’ distinction between internal and external sovereignty. Internal sovereignty can be used to understand the factionalism in Thai society resulting to the escalation of tensions since 2005. For the security of state, the Thai military staged a coup and has tak...

Agriculture sector is the mainstay of the Myanmar economy accounting for 60 percent of the GDP and employing 65 percent of the labor force. Thus agriculture sector’s competitiveness is imperative for Myanmar’s economy. Agriculture sector’s competitiveness depends largely on logistic competitiveness of the country since logistic costs contribute 20% of the total cost of production. According to the World Bank Logistic Performance Index (2014) Myanmar rank 145 out of 160 countries with logistic efficiency of 40% of the best performer; German...

Building upon the expectation states theory (EST), we propose a cross-cultural conceptual model to investigate the relationships between five underlying dimensions of transformation expectations and conspicuous consumption. We advocate that (a) consumers who believe they can transform themselves in various aspects through product consumption are more likely to engage in conspicuous consumption, and (b) the relationships between transformation expectations and conspicuous consumption vary across cultures. The delineation of relationships propose...

An increasing number of people all around the globe are spending tremendous amounts of time in the cyber world on activities such as connecting with one another and searching for information. It is undeniable that social media, such as social networking sites (e.g. Facebook), micro blogging sites (e.g. Twitter), photo sharing sites (e.g. Instagram), and video sharing sites (e.g. YouTube) play a considerable role in peoples’ daily lives—changing the way people carry out their routines. This widespread consumption of social media has made an ...

Many studies were trying to explain the changes of stock returns by finding the factors impact on a certain market, industry, or stock. Focusing on the financial institution especially commercial bank, there are some research proved that interest rate is one of the crucial factor impact the commercial bank stock returns. Interest rate is the cost and return of money in financial market since commercial bank acts as major financial intermediary; therefore, interest rate is still the majority of its cost and return. In Thai stock market shows dif...

The focal construct in this study is the relationship quality between the hospitals and the patients. The previous studies had developed relationship quality dimensions mostly in terms of “want to” aspect and tested their model in various B2B and B2C contexts. However, in several long-term relationships, “ought to” and “have to” aspects of relationship are also important in helping create the relationship longevity in spite of dissatisfaction in the relationship. Very few empirical researches on relationship quality have captured these dimensio...

The purpose of this paper is to explore knowledge about the influences of e-service quality and technology acceptance model (TAM) on e-satisfaction, loyalty, and online purchase intention in online department store in Bangkok, Thailand. The online model was developed based on e-service quality and TAM. A self-administered questionnaire was employed to collect data from customers who had used and purchased products via online department store outlets. The data were collected from the respondents in Bangkok area during March 2014. 200 compl...

The aim of the paper is to contribute to a better understanding of e-service attributes through an empirical investigation. Very limited studies have been directed towards understanding the implementing role of e-service attributes influencing customer satisfaction in online movie theatre settings. Therefore, this study apply an empirical investigation for implementing online movie theatre quality attributes using an integrated method of Kano's model to persuade customer satisfaction.

The objective of research is to examine the effect of product’s factors which are product quality, service quality, brand image, and product design of condominium toward purchase intention of condominiums in Bangkok. In Thailand, due to the popularity of condominiums, the expansion of investment on this market has continually grown year by year and the condominium market has become highly competitive. This current research is significant in that it would help condominium developers know about what kind of condominiums preferred by potential buy...

This research examined succession planning in family firms in Thailand, with an objective of determining whether predecessor (firm leader) gender made a difference in the comprehensiveness or perceived success of the succession process. A questionnaire was distributed to Bangkok-area business owners of family firms that had gone through a leadership transition (n = 254), including 168 male-led firms and 86 female-led firms. Analysis was conducted using structural equation modeling (SEM). Results showed that the firm owner’s age, firm size and o...

Nowadays, Thailand is turning to aging society with the older population increasing than past. Mostly, older people have mental and physical health problems. Consequently, elderly health care is more important and necessary in the society. Currently, technology has continuously grown especially mobile applications that allow people to get involved with more activities. Applying elderly health care as mobile application service instead of traditional service is a new type of product and new trend in Thailand. This research analyzes the factors h...