Tantatape Brahmasrene

More metropolitan areas focus on renewing and improving capital to promote economic development and to improve standard of living in their areas. This study investigated the relation among job growth, population and income growth as potentially objectives for economic development. The measures of economic performance include average annual employment, population, labor force, per capita income, and earnings per job growth. The intent is to identify and compare the demographic, economic, structural and environmental factors that are strongly associated with each of the measures of performance. Demographic and economic structure appear to play a major role in explaining relative rates of population, labor force, employment and per capita income growth with limited role in explaining growth in average earnings per job growth. The implications of this study are that prudent fiscal management, yet investing in local health and education facilities are wise policy options to promote superior employment and to a lesser extent income growth.

A firm's response to economic volatility is a topic of interest to managers and academics alike. This study examines the relationship between resources for marketing and financial capabilities and performance of firms in recovery from economic crisis in Thailand. The authors researched this timely topic by collecting data from the Thailand market. Marketing capabilities (market orientation & strategic flexibility) and financial capabilities (financial strength & financial diversification) were chosen as independent variables. The results indicated that financial strength and financial diversification, as well as strategic flexibility, had positive influences on firms' performance. However, financial capabilities had greater influences on performance than marketing capabilities. Comparing these two types of capabilities sheds light on the resource allocation decision between the two functional areas when firms operate amid an economic crisis.

Describes the impact of recent changes in US tort law and identifies four interest groups concerned: manufacturers, insurance companies, consumers and lawyers. Discusses their relative strengths, motivations and influence on judicial decisions, citing relevant liability cases for product‐ related injuries due to manufacturing defects, design defects and inadequate warnings. Develops a logistic regression model to relate state adoption of strict liability standards to the relative strength of interest groups and applies it to US data. Suggests that the strength of manufacturers and, more particularly, lawyers is significant; and that liberal states are more likely to adopt strict liability for design defects. Calls for further research on the role of the legal profession in legal change.

The study rested on the author's experiences teaching economics and financial management courses at Westville Correctional Facility in Westville, IN, and at Purdue University North Central for more than 10 years. The analysis focused on economics courses due to their use of a cognitive problem-solving approach that can strengthen thinking skills and lead to improved decision making. The research used pretests and posttests with a nationally standardized test. The tests covered 10 content categories in microeconomics and macroeconomics and emphasized skills that went beyond recall and memorization. The study used a table of specifications to ensure congruence between the test and classroom instructions. Results revealed no significant performance differences between inmates and regional campus students. Both groups of students were comparable to the national norm in that they had adequate thinking skills that led to effective decision making in economics. Findings suggested that inmate educational programs can be effective even with complex topics such as economics. Tables and 12 references Main Term(s):

This study investigates the impact of real exchange rates on the trade balances between Thailand and its major trading partners. Previous empirical evidence gave mixed results of the impact of real exchange rates on trade balances. In this study, Augmented Dicky‐ Fuller and Phillips‐ Perron tests for stationarity followed by the cointegration tests are implemented. All variables in the model are nonstationary but cointegrated. In cointegrating regressions, biases are introduced by simultaneity and serial correlation in the error. The specification that deals with these problems is the non‐ linear specification of Stock and Watson (1989). By using this non‐ linear model as modified by Reinhart (1995), the results show that the impact of real exchange rates (Thai baht/foreign currency) on trade balances is significant in most cases. Therefore, the generalized Marshall‐ Lerner condition seems to hold. Furthermore, the results show that the real exchange rates play a more important role in the determination of the bilateral trade balances than other factors. Since the real exchange rate variable plays a major role in this study, the policy recommendation is to prevent exchange rate misalignment. A policy

Implementation of a job-matching program was deemed necessary because of the emergence of nationwide high unemployment and imperfect information about the labor market. Not only did there exist a large number of job applicants, but also a large number of firms seeking semiskilled workers. To equilibrate the labor on both demand and supply sides, the government established a committee to supervise a job-matching program in thirteen manufacturing categories as specified in the National Plan for Industrial Restructuring. Under this program, the initial task was to survey manufacturing employment. The evidence from that first national survey of manufacturing employment is analyzed in this paper.

This paper adds to the existing findings by examining the relationship between exchange risk and pass-through under the foreign exchange volatility. The thrust of this case is to investigate the extent of how the foreign exchange volatility affects the degree of pass-through. A panel data estimation method is adopted for the empirical testing. The results support the notion that the foreign exchange volatility mutes, possibly through hedging activities, the impact of exchange rate changes on export pricing regardless of the types of destination market structure.

The notion that more government expenditures can stimulate growth is still controversial. Some researchers found positive relationship between government expenditures and growth with bi-directional causation, while others indicated that growth caused government spending to expand. The causation between government expenditures and economic growth in Thailand was examined using the Granger causality test. There was no cointegration between government expenditures and economic growth. A unidirectional causality from government expenditures to economic growth existed. However, the causality from economic growth to government expenditures was not observed. Furthermore, estimation results from the ordinary least square confirmed the strong positive impact of government spending on economic growth during the period of investigation.

This study investigates the role of small business development (SBD) in transitional economies of Commonwealth Independent States (CIS) and makes economic and financial recommendations for international policymakers. A range of current SBD research that examined entrepreneurship from an economic perspective was reviewed. An economic research paradigm was developed to provide a macro view of CIS countries and then it was applied to Kazakhstan in Central Asia. In general, factors that enhance SBD include improving institutional environments, increasing credit availability and promoting competition. Specifically in Kazakhstan, a survey of entrepreneurs and small business owners was conducted to determine how SBD creates markets and how it transforms lives. To enhance and sustain economic stability and reduce reliance on state-owned natural resource industries, CIS should implement alternative development strategies that promote SBD. Selected policy and practical implications are identified which facilitate SBD through initial investment funds that create capital formation and credits.

This study examined crucial factors affecting industrial safety indicators. A survey was conducted to explore factors affecting total recordable incident rates and lost time incident rates. The number of safety audits and the natural log of safety infraction disciplinary action had a negative impact on the natural log of recordable incidents and the lost time incident rates while the number of training hours was an insignificant factor. Thus, the finding regarding training is contradictory to a belief that the number of training hours is an important factor in reducing recordable incident and lost time incident rates. These results should assist companies as they strive to focus on significant factors such as safety audits and disciplinary action in order to improve recordable incident and lost time incident rates, thus improving the safety performance of the organization.

This study investigated the effect of earnings per share and dividends on the price of a share of stock in a period in which a material accounting change relating to the accounting treatment of goodwill was mandated. A survey was conducted among companies that did and did not experience a material write-off of the intangible goodwill. The companies selected represented publicly traded companies from various industries. The ordinary least square method was employed to identify the factors that significantly affect share price. The results revealed that share price among companies with and without goodwill write-off were not statistically different when there was the presence of a goodwill write-off. Furthermore, earnings per share was significant and directly affected share prices among companies without goodwill write-off while dividends showed a positive significant effect on share prices among companies with goodwill write-off.

This study examines the impact of expectations on the market share mechanism. The dynamic strategic pricing behaviors in the short-run and the long-run are also explored. The exchange rate expectations are incorporated into a switching cost model via the method of exchange rate pass-through on product-specific and country-specific approach. By using the time series techniques, the results of the system estimations prove that the market share mechanisms are weakened by exchange rate expectations in open economies. Furthermore , not only is the degree of exchange rate pass-through higher in the short-run than in the long-run but also many cases of pair-wise rivalry are found. An improved understanding of the effects of exchange rate movements on foreign exporters pricing and pass-through relations from this study may enhance competition in international markets.

This study investigates the relationship between the U.S. dollar and price of U.S. imported crude oil as well as the rivalry and collusive pricing behavior in the U.S. crude oil market. In effect, the significance of the exchange rate fluctuations that are passed through to the prices of imported crude oil is determined from countries of the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC countries to the U.S. crude oil market. This study found the incomplete exchange rate pass-through occurring with months lagged and there was the pricing rivalry behavior. In addition, the OPEC countries passed the cost shocks to the consumers a few months faster than non-OPEC countries possibly due to the market power.

Educators recognize the importance of critical thinking. Students discover that studying topics such as business requires a strategy more extensive than rote memory. Using the California Critical Thinking Skills Test (CCTST), this research uses the hypothesis that the total critical thinking score and its components such as inductive reasoning, deductive reasoning, evaluation, analysis, and inference are affected by college classification, high school GPA, high school rank, SAT verbal scores, SAT mathematical scores, gender, race and major.

A plethora of studies suggests the pricing decisions depend on product substitutability, costs, market structures, and the magnitude of exchange rate uncertainty in the international setting. Taking a departure from existing literature, this paper examines the average degree of exchange rate pass‐through to the prices of export product under low to high exchange rate volatility. A panel data estimation method is performed using the annual US export data to 69 export destinations across 111 four‐digit Standard Industrial Classification (SIC) industries. An average zero or insignificant pass‐through estimate for all industries in the high exchange‐rate‐fluctuation sub‐sample confirms the hypothesis. In this period of high exchange risk, the possible high hedging engagements disconnect the relationship between exchange rate movements and export pricing.

While passing rates for the Uniform CPA Examination vary from state to state, in general, passing rates remain relatively low. The National Association of State Boards of Accountancy (NASBA) released figures that indicated that while just over 20% of first-time candidates in 1990 passed all four sections of the Uniform CPA Examination, more than half of the first-time candidates failed to pass any sections. NASBA figures on the May 1998 exam administered in Indianapolis show that 24% of repeat candidates passed, and 12.9% of first-time candidates passed. Overall, 20% succeeded in passing all four parts. New Survey of Relevant Factors The authors surveyed all 1,072 May 1998 Indiana CPA candidates. The number of completed surveys returned totaled 238, for a response rate of 26%. Of those surveys completed and returned, seven had one or more item on the survey left blank. Exhibit 1 presents the descriptive characteristics of the continuous variables of the survey response sample. For example, the average high school GPA of the survey respondents is higher than the average undergraduate GPA. Moreover, the average age of the survey respondents is slightly higher than the average graduation age for the traditional full-time student. Exhibit 2 shows the descriptive characteristics of the categorical variables of the survey response sample. Most respondents possessed a bachelor's degree at the time of the exam. Another interesting item is that 51.7% of respondents ranked in the upper 10% of their high school class, indicating that those drawn to the Uniform CPA Exam tend to be some of the top high school academic performers. In terms of preparation, most respondents used some form of preparation for the exam. Most chose either a live review course or self-study. Many worked in the accounting field in some capacity before sitting for the exam. Most worked in either private accounting or public accounting, with a small percentage in government and education. Most candidates had taken the exam at least once before. Table 1 presents a cross-tabulation that investigates the relationship of selected variables. Data pertaining to the various factors is presented in actual raw numbers, not in percents. For example, the cross-tabulation of education and results produced a table that shows 88% of those who failed all four parts had a bachelor's he CPA Journal

The effect of nominal and real shocks to real exchange rates under floating exchange rate system was examined. The real exchange rates in this study were measured in terms of domestic currency relative to the U.S. dollar. Thailand was used as an event study during the economic crisis. Ever since the floating exchange rate system was in effect in the third quarter of 1997, some policymakers have called for policies designed to keep the exchange rate within the target range. A vector autoregression (VAR) was employed to investigate the joint behavior of real and nominal exchange rates in order to identify the nominal and real shocks that caused fluctuations in the real exchange rate. Based upon the results of a bivariate VAR model, the impulse response functions showed that real shocks had a thriving impact on changes in real exchange rates in the twelve-month forecast horizon. Furthermore, variance decompositions revealed that real shocks were much more robust than nominal shocks during the period under study.

Gravity models have been employed in determining international trade patterns among countries. In these models, geographical and cultural variables are found to be crucial factors of economic relations. This particular study suggests that application of gravity modeling also is useful for the explanation of stock market correlations. This study uses panel data to examine the effect of geographical, cultural, market size and economic variables on the stock market correlations in emerging markets. Empirical analysis found that distance, market size and legal system similarities have a profound impact on stock market correlations. This knowledge is an important prerequisite for the risk reduction.

Satisfaction with balancing work and home commitments can increase retention and productivity. Empirical investigation of this particular satisfaction may help firms design flexible benefits that enable employees to improve that balance and, in turn, enhance productivity. This study investigates a case within the accounting profession. A random survey of 1,000 members of the State of Indiana CPA Society was conducted in April 2001. Logit analysis is employed to identify the characteristics that contribute to satisfaction. The dichotomous dependent variable in this study is whether respondents are satisfied. Independent variables included in the model are, hours spent on work and home commitments by respondents and their spouse or partner, number of children, age, income class, race, gender and professional level. The results of the logistic regression revealed gender, professional level, work hours and household hours statistically affect satisfaction.

As educators, we want our students to demonstrate a range of thinking abilities (Chaffee 1990). One such ability, marginal analysis strategy, has not been developed in students who are new to economics. Marginal analysis is an examination of the effects of additions to or subtractions from a current situation. It is an essential concept for understanding economics. The infusion model (Swartz & Perkins 1989) is one approach for improving thinking abilities. Infusion involves the direct teaching of a specific thinking skill and providing opportunities for the students to apply and refine their use of the skill. This article demonstrates the infusion of marginal analysis strategy into the content of an introductory economics course. Favorable student responses suggest that this approach enabled them to enhance their understanding of marginal analysis strategy.

This study investigates the impact of real exchange rates and related variables on Thailand’s exports and imports with its three major trading partners: the United States, Japan, and Singapore. Augmented Dicky-Fuller and Phillip-Perron tests for stationarity are implemented. These tests indicate that all time series variables in the models are non-stationary and  integrated of order one. Furthermore, Johansen and ADF procedures for cointegration tests indicate that the series are not cointegrated. In view of the fact that the series are not cointegrated, Stock and Watson's dynamic ordinary least squares method are employed. This method includes lead and lags operators to correct for serial correlation and
simultaneity bias in small samples. By and large, the results show that real income and bilateral real exchange rates are crucial determinant of export and import between Thailand and its three major trading partners.
Keywords Exchange rate, export, import, Thailand.

This study examines relationships among information communications technology (ICT), carbon dioxide (CO 2) emissions and economic growth. The panel annual data are constructed from 1991 to 2009 for nine members from the Association of Southeast Asian Nations. The study examines the long-run equilibrium relationship using cointegration techniques and the short-run relationships using cointegrating regression estimation methods. Test results indicate a long-run equilibrium relationship exists among these variables. Among these relationships , ICT shows significant to highly significant positive effects on both economic growth and CO 2 emissions. Significant to highly significant inverse bidirectional relationships between economic growth and CO 2 emissions are found in the region. Based on these empirical findings, further policy implications for economic growth, ICT and CO 2 emissions are discussed.

This paper investigates the impact of hedging activities on U.S. export pricing. A theoretical framework of export pricing model with a hedging component was derived to test the hypothesis via exchange rate pass-through. The hypothesis is that a firm with a high (low) hedging engagement would have a low (normal) degree of exchange rate pass-through, ceteris paribus. Two measurements of the hedging engagement are the hedging amount and the hedging dummy. The result tested with the hedging amount on pass-through supports the hypothesis and suggests the importance of hedging involvement in preventing any uncertainty from exchange rate fluctuations. In addition, the coefficient estimate of the foreign demand elasticity interacting with one-year-lagged exchange rate is significant at one percent. However, the differential effects of different levels of hedging activities on the size of pass-through with the hedging dummy are inconclusive.

This study examined earnings inequality in Thailand. There is a relatively higher ratio of men than women in high level management positions in manufacturing. Women are typically employed in lower level positions such as bookkeeping, human resources and secretarial staff. They are the main force in the service sector such as banking, retail trades, education, hospitality and tourism. The trend has shifted in recent years when more women than men enter into a managerial level position. However, earnings for women are relatively lower than that of their male counterparts. A human capital model was employed to assess factors affecting earnings among men and women at managerial levels. These factors included education, work experience, marital status, job satisfaction, number of hours at work and at home, willingness to engage in frequent business trips and gender. The empirical analysis found that education, work experience, marital status and willingness to engage in frequent business trips had a significant effect on all samples in the study. Education and work experience profoundly affected earnings for both men and women. However, only women's earnings were affected by marital status and willingness to engage in frequent business trips.

This article is an essay about the impact of education on local economic performance. Information and statistical data on educational attainment and economic indicators such as employment, earnings by industry and per capita income were employed to determine that higher education attainment led to higher employment and income. Two counties in north central

This paper assesses the degree of exchange rate pass-through to export pricing among firms in different sectors with different trade size. The panel data analysis is adapted to accommodate the time-series and cross-sectional data. The ordinary least square method, two-way random effect model and three generalized least square (GLS) estimators with different specifications of the error components are employed. The study finds that among U.S. export companies, the primary product sectors incur a lower pass-through relative to the manufacturing sectors (non-primary product sectors). The analysis also shows moderate evidence that the large trade sectors behave significantly different from the small trade sectors in terms of the ability to pass the exchange rate shocks.

Understanding factors affecting dissatisfaction with managing work and home tasks should help firms design flexible benefits that enable employees to better cope with this issue. Improved company productivity should also result. The study conducted examined employee dissatisfaction within the accounting profession as the dependent variable. Independent variables included gender, income, professional level, race, number of children, age, and hours spent on work and home tasks by respondents and their spouse or partner.

This paper examines the short-run and long-run dynamic relationship between the U.S. imported crude oil prices and exchange rates. The monthly data of the U.S. crude oil imports from five source countries during January 1996 and December 2009 are examined. Empirical results indicate that the exchange rates Granger-caused crude oil prices in the short run while the crude oil prices Granger-caused the exchange rates in the long run. Furthermore, oil prices were affected by the exchange rate changes at a minimal level. However, in the medium run and the long run, oil price shocks had a significant impact on exchange rate changes. Exchange rate shock has a significant negative impact on crude oil prices while the impulse response of the exchange rate variable to a crude oil price shock was statistically insignificant. Finally, the impact of extreme price volatility in June 2008 on exchange rates was significant. When world oil prices are stabilized, currency fluctuations and uncertainty can be minimized.

This study examined the relationship between stock market index and selected macroeconomic variables during the post-financial liberalization (pre-financial crisis) and post-financial crisis in Thailand. In the empirical analysis, unit root, cointegration and Granger causality tests were performed. The post-financial liberalization results showed that the stock market index, the industrial production index, money supply, exchange rate, and world oil prices contained a unit root and were integrated of order one. Johansen cointegration test was then employed. The results showed at least one cointegrating or long-run relation between the stock market index and a set of macroeconomic variables. Money supply had a positive impact on the stock market index while the industrial production index, the exchange rate and oil prices had a negative impact. During the post-financial crisis, all variables were integrated at different orders. Cointegration existed between the stock market index and macroeconomic variables. In addition, the Granger causality test indicated money supply was the only variable positively affecting the stock market returns.

This study provides an empirical investigation of the causal relation between money growth and inflation. Unit root tests as proposed by Dickey and Fuller (1979), and Phillips and Perron (1988) are employed to determine the stationarity of money growth and inflation rate series. The results show that the growth rate of money supply and inflation are stationary. Therefore, Granger causality test is implemented directly to the series of money growth and inflation. The causality from money growth to inflation and from inflation to money growth is not found in this case. This by no means implies that money supply plays a minor role in the inflation process, but rather there exists other main forces that cause inflation in Thailand.

This paper explores the international capital mobility in North Asia (South Korea and Taiwan), South Asia (Indonesia, Malaysia, the Philippines, Singapore and Thailand) and India. In particular, the Feldstein–Horioka puzzle, which states domestic investment and savings are highly and positively correlated, was examined for cointegration using an autoregressive distributed lag bounds testing procedure. The results did not show a positive correlation between savings and investment. There was essentially no relationship at level between savings and investment in all eight cases. Thirteen out of 16 structural break tests or 81.25% indicate no structural breaks. The analysis concluded with certain limitations that there is high capital mobility in the economies under study.

In Brief Most existing research related to the issues of job satisfaction in the accounting profession focused on either factors within the job or personal characteristics of individual employees. Unlike other studies, this paper examines the level of satisfaction in terms of the balance between work and home responsibilities, taking into account factors beyond the job. Furthermore, the gender differences in relation to this issue are also explored. In early April 2001, the survey was mailed to one thousand randomly chosen members of the State of Indiana CPA Society. Membership in this society includes primarily licensed CPA's either residing or practicing in the state of Indiana. Generally, firms are adversely affected when an employee permanently leaves an organization. The issues of satisfaction with the balance of work and home responsibilities for all employees should be addressed if firms hope to retain them. Higher Levels of Exhaustion in Accounting Professionals Whether in private or public practice, a study by Fogarty, Singh, Rhoads, and Moore (2000) found that accounting professionals appear to evidence higher levels of emotional exhaustion relative to several other professions. The primary determinants of personnel turnover such as work-related stress, job satisfaction, and turnover intentions appear to be well-documented (Rasch and Harrell 1990). Personal characteristics have

This study provided empirical evidence of the causation between money supply and output growth in five Southeast Asian Nations. The unit root test of time series data was employed to examine the stationarity. The Granger causality tests showed unidirectional causality from money to output growth among four out of five countries under narrow money and three out of five countries under broad money. Money growth is thereby a prime intermediate target to stimulate economic growth.

This study investigates the impact of real exchange rates and related variables on Thailand’s exports and imports with its three major trading partners: the United States, Japan, and Singapore. Augmented Dicky-Fuller and Phillip-Perron tests for stationarity are implemented. These tests indicate that all time series variables in the models are non-stationary and  integrated of order one. Furthermore, Johansen and ADF procedures for cointegration tests indicate that the series are not cointegrated. In view of the fact that the series are not cointegrated, Stock and Watson's dynamic ordinary least squares method are employed. This method includes lead and lags operators to correct for serial correlation and
simultaneity bias in small samples. By and large, the results show that real income and bilateral real exchange rates are crucial determinant of export and import between Thailand and its three major trading partners.
Keywords Exchange rate, export, import, Thailand.