Browsing by Author "Witsaroot Pariyaprasert, jt. auth."
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    Long term behavior of stock return and the U.S. quantitative announcement : evidence in Thailand
    (Assumption University, 2012) Yaowaluk Techarongrojwong ; Witsaroot Pariyaprasert, jt. auth. ; Assumption University. Martin de Tours School of Management and Economics
    This study examines the impact of the U.S. Quantitative Easing announcement on the stock market in Thailand. Many previous studies examine the effect of U.S. monetary policy announcement on the stock market in the other countries with a narrowly examined period. This study focuses on the long term behavior of the stock return in Thailand, so the examined period (event window) is expanded to Day -10 through Day 30. Two Quantitative Easing announcements are examined with 309 firm-announcement observations for the an- nouncement on November 25, 2008 and 344 firm-announcement observations for the announcement on No- vember 3, 2010. The U.S. Quantitative Easing announcements provide the negative effects on the Thai stock return on the announcement date. The stock return in Thailand negatively responds to the announcement one day before the announcement and becomes positive value within one week. In addition, there is the evidence oflearning curve in the stock market in Thailand.