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Title: การทดสอบประสิทธิภาพตลาดหลักทรัพย์จากผลกระทบของการประกาศจ่ายเงินปันผลในตลาดหลัดทรัพย์แห่งประเทศไทย และตลาดหลักทรัพย์ เอ็ม เอ ไอ
Other Titles: Marketing efficency test on impact of dividend announcements in the stock exchange of Thailand and the market for alternative investment
Authors: ชัยวุฒิ ตั้งสมชัย
พนิดา ลัคนะเวทย์
Keywords: ตลาดหลักทรัพย์
Issue Date: 2557
Publisher: เชียงใหม่ : บัณฑิตวิทยาลัย มหาวิทยาลัยเชียงใหม่
Abstract: This independent studyaims to examine the semi-strong form efficiency in the Stock Exchange of Thailand (SET) and the Market of Alternative Investment (mai) by using the event study of the dividend announcements of the listed companies in both the SET and mai to calculate abnormal returns before and after the event dateof 3 days, 10 days and 20 days. Subsequently, the abnormal returns were analyzed by descriptive statistics and statisticalequivalence mean testingat 95% confidence level. The results showed that the frequency of dividend payments reflected the Thai economy but there were not abnormal returnsoccurred from the event. Furthermore, the average abnormal returns were significant both before and after the announcement date for the SET.The average abnormal returns were significant only before the announcement for mai. The results of cumulative abnormal returns were significant for both markets. Therefore, these resultsled to the rejection of theefficient market hypothesis.This independent study concluded that the SET and mai were inefficient on the ground of semi-strong efficiency. The test of cumulative abnormal returndifferentiation between the SET and mai was insignificant. However, theSET offered higher cumulative abnormal returns than the maidid.
Appears in Collections:BA: Independent Study (IS)

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ABSTRACT.pdfABSTRACT174.46 kBAdobe PDFView/Open
CHAPTER 1.pdfCHAPTER 12.91 MBAdobe PDFView/Open
CHAPTER 2.pdfCHAPTER 22.91 MBAdobe PDFView/Open
CHAPTER 3.pdfCHAPTER 32.74 MBAdobe PDFView/Open
CHAPTER 4.pdfCHAPTER 42.75 MBAdobe PDFView/Open
CHAPTER 5.pdfCHAPTER 52.89 MBAdobe PDFView/Open
CONTENT.pdfCONTENT392.6 kBAdobe PDFView/Open
COVER.pdfCOVER338.39 kBAdobe PDFView/Open

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