政治不穩定與服務產業的市場反應─ 泰國2013十月事件之實證研究

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Title:	政治不穩定與服務產業的市場反應─ 泰國2013十月事件之實證研究 Political Instability and Market Reaction in Service industry: Empirical Study of Thailand October 2013
Authors:	唐雅珮 Sajjasakulrat, Piyapha
Contributors:	財務金融學系
Keywords:	political instability abnormal return Service industry market reactions Thailand October 2013 event study
Date:	2014-12-19
Issue Date:	2015-02-05 14:21:44 (UTC+8)
Abstract:	This study investigates the impact of the demonstration in Thailand October 2013 on abnormal returns of service industry. The analytical results demonstrate that average abnormal returns for tourism and leisure stocks are significantly negative at 5% level after the date of the demonstration began on days 4, 7, 12 and 13; whereas; the service stocks are significantly negative at the 1% level before the date of the demonstration began on days -12, -10, and -1, and after that in days 6 and 13. Empirical result implies that both tourism and leisure stocks and service stocks are influenced by the demonstration and caused negative effects. This study can be attributed to companies that they should sustain the confidence level of investors; and to investors that they can realize to adjust their portfolio to cope with this kind of situation.
Appears in Collections:	[Department of Banking & Finance ] Thesis

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