Browsing by Author "Kaveepong Lertwachara"
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ItemAn application of rank transformation : merger target predictions(Assumption University, 2006) Kaveepong Lertwachara ; Pattana Booncho, jt. auth. ; Assumption University. Martin de Tours School of Management and EconomicsThis study attempts to predict merger targets among banks, and also investigates the predictive power rank transformation adds to the prediction models. Rank transformation has been suggested as a robust and powerful tool for financial problems. Multiple· discriminant analysis (MDA) and logistic regression have been applied to selected ranked and unranked financial ratios. Then, the classification results of MDA and logistic regression on both ranked and unranked data sets are compared. The results have indicated that rank transformation does improve the predictive power of MDA and logistic regression.
ItemDow Jones commponents and economic indicators : a factor analysis approach(Assumption University, 2005) Kaveepong Lertwachara ; Pattana Booncho, jt. auth. ; Assumption University. Martin de Tours School of Management and EconomicsThis paper explores the relationships between economic indicators and movements in the Dow components returns. There have been numerous attempts to identify these relationships: the Arbitrage Pricing Theory (APT), one of these approaches, contributes directly to the mult(factor model. The theory, introduced by Ross in 19 7 6, has been a valuable approach to analyzing security returns because the APT allows analysts to study the effects of multiple influential factors . Factor analysis is then used to analyze these factors, a group of economic indicators, and a group of security returns. Factor analysis identifies a new set of uncorrelated variables for economic indicators, and another new set of uncorrelated variables for stock returns. This study provides additional support to the idea that the returns on securities are influenced both by the market, and by economic conditions.
ItemAn event study of the economic impact of professional sport teams on local incomes(Assumption University, 2005) Kaveepong Lertwachara ; Cochran, James J, jt. auth. ; Assumption University. Martin de Tours School of Management and EconomicsMany cities have tried to use expensive incentives such as a state-of-the-art stadiums or tax exemptions to persuade major professional sport teams to relocate to or remain in their area. These cities do so because they expect a professional sport team to enhance the local economy. Jn this paper we utilize an event study approach to examine the economic impact of a sport team on the local economy. The results indicate a negative impact of a sport team on local per capita income in both the short and long-run.