| Author | Naraumol Nuntajindawat |
| Call Number | AIT RSPR no. SM-95-34 |
| Subject(s) | Stock exchanges--Thailand
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| Note | A research study submitted in a partial fulfillment of the requirements for the Degree of Master of Business Administration. |
| Publisher | Asian Institute of Technology |
| Series Statement | Research studies project report ; no. SM-95-34 |
| Abstract | In the growth and development of Thai economy, the Stock Exchange of Thailand (SET) plays a significant role in raising capital for various institutes in any industries. The efficiency of stock market is necessary for the harmonious growth of capital market, and more particularly in an emerging economy. If the market were efficient, it would follow that its pricing mechanism would be efficient. This situation is important to both the suppliers of capital for the purposes of constructing their investment portfolios and the users of capital for establishing criteria for the efficient disposition of the funds at their disposal. This research proposes, to test the efficiency of Thailand's securities market based on the efficient market hypothesis to determine whether the stock prices behavior follow random walk hypothesis. From the result of the analysis of the test of efficiency, we can understand the investor behavior and determine the investor's confidence in the market and to analyze the trend of Stock market of Thailand performance and make recommendation for improving the efficiency and transparency of the market. This paper uses statistical tests based on the most active samples of stock on daily data over a three year period. The results of analysis indicate that no stock conform to the weakform efficiency market hypothesis. The factors and recommendations of the efficiency of the market was based on interviews with the persons involved in the stock market. The efficiency of the market is analyzed and concluded as a whole. |
| Year | 1995 |
| Corresponding Series Added Entry | Asian Institute of Technology. Research studies project report ; no. SM-95-34 |
| Type | Research Study Project Report (RSPR) |
| School | School of Management (SOM) |
| Department | Other Field of Studies (No Department) |
| Academic Program/FoS | Master of Business Administration in International Business (Publication code = SM) |
| Chairperson(s) | Gupta, Joyti |
| Examination Committee(s) | Tang, John C.S.;Pandey, I.M. |
| Degree | Research Studies Project Report (M.B.A.) - Asian Institute of Technology, 1995 |