Effectiveness of Applying Cash balance Measures in The Stock Exchange of Thailand and mai

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จตุภัทร เบี้ยวบรรจง ชัยวุฒิ ตั้งสมชัย

Abstract

The objective of present research is to analyze the effectiveness of applying cash balance measures in The Stock Exchange of Thailand and mai. Cash balance measures for 6 weeks and considering to trading alert list was comparing with cash balance measures for 6 weeks alone. Volatility, abnormal return and liquidity were analyzed and compared within each group which sampling from cash balance measures for 6 weeks and considering to trading alert list, and cash balance measures for 6 weeks alone. There are 54 large securities and 55 small securities found in cash balance measures for 6 weeks and considering to trading alert list group as comparing with 68 large securities and 41 small securities found in cash balance measure for 6 weeks alone. The real-estate and construction industries group are the first ranking and also the most frequent securities for cash balance measures. Change rate in another period were comparing with normal period as a ratio. Statistical significantly difference among the measures found in mai are volatility in announcement date-normal period, turnover rate in announcement date-normal period, and abnormal return in analytical period-normal period. The statistical significantly difference among the measures found in the real-estate and construction industries group are, turnover rate in analytical period-normal period, abnormal return in announcement date-normal period. The statistical significantly difference among the measures found in the service industry group are, volatility in event period-normal period. Overall, turnover rate has statistical significantly difference in announcement date-normal period and post period-normal period, and abnormal return in analytical period-normal period.

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บทความวิจัย (Research Article)