We examine the price behavior of firms when monetary authority announces measures that can be considered as capital account liberalization. In particular, we investigate the reaction of stock market to the announcement of the relaxation revocation of capital control in Thailand on January 29,...

The relationship between the announcement of the imposition of capital control and stock returns is examined across a sample of 32 technology firms listed on the Stock Exchange of Thailand (SET), where capital control has been used as a means to prevent the appreciation of a currency (Thai...

In this paper, we examine whether banking crises or business cycles affect the influence of financial markets development on bank risk in a sample of 37 publicly listed commercial banks in seven South American countries over a 22-year period between 1991 and 2012. Banking crises in this region...

This paper examines the relation between financial leverage and firm performance for a panel of 159,375 (mostly private) non-financial firms in Thailand during the global financial crisis of 2007-2009. We find that leverage is negatively associated with firm performance in the full sample...

We draw on a comprehensive set of data of all registered firms in Thailand to examine whether firm size affects the relation between leverage and operating performance during the global financial crisis of 2007-2009. From a data set of 496,430 firm-year observations of a sample of 170,013 firms,...

In this paper we examine the cross-sectional effects of the announcement of the imposition of the unremunerated reserve requirement (URR) in Thailand on stock prices. We show that there are negative abnormal returns following the announcement of the imposition of the URR, and that the effect of...

Building upon a data set of publicly traded firms in Thailand, we find that the exposure of firms to exchange rate volatility appears to change during the period of capital account restrictions (in the form of the un-remunerated reserve requirement on capital inflows) between 2006-07. We also...

Drawing on several theoretical perspectives (e.g., individual motivation, behavioral decision-making, social exchange theories, organizational justice theories, social cognition, institutional theories and neoclassical economics theories) from different disciplines (e.g., organizational...