The factors from oversea that affect the Stock Exchange of Thailand Index Study of factors of foreign pressure to the stock exchange of Thailand
Article Sidebar
Main Article Content
Abstract
The research of factors from oversea that affect the Stock Exchange of Thailand Index (SET Index). The research aim to study the key factors that has an effect to the stock exchange index.
The independent variables include of DowJones Index , Nikkei Index, Nasdaq Index, Ordinaries Index, Straits Times Index, Malaysia Composite Index , Philippines Composite Index , South Korea Composite Index , Interest Rate of America and Foreign Direct Investments, which are used as secondary data collected monthly from January 2012 to December 2018 (84 months in total). Obviously, the dependent variable in this study is SET Index. Multiple regression was used to analyze the relationship between these variables.
The result shows that the only seven variables have significantly influence to Stock Exchange of Thailand Index; DowJones Index, Nikkei Index, Straits Times Index, Nasdaq Index , Ordinaries Index, Philippines Composite Index, and South Korea Composite Index. DowJones Index seems to have the highest impact followed by Nasdaq Index, Philippines Composite Index, Nikkei Index, Ordinaries Index, Straits Times Index, and South Korea Composite Index consecutively (in which Malaysia Composite Index, Interest Rate of America, and Direct Foreign Investment have no impact to the Thailand’s Index. In addition, DowJones Index, Ordinaries Index and Philippines Composite Index show positive correlation, while Nasdaq Index, Nikkei Index, and South Korea Composite Index show negative impact. The R-square component is 0.929
Article Details
References
Jotikasthira, C. (2019). The Development of Thailand’s Potentials and Exports of Shrimp Processed for Southeast Asia. Academic Journal Bangkokthonburi University. 8(1), 59-72
Prachaksinthai, D. (2014). Foreign Direct Investment: FDI. Bangkok: Bureau of the Secretariat of the House Representative.
Dunning, John H. (1988). International Production and the Multinational Enterprise. London: Unwin Hyman.
Salvatore, D. (2013). International Economics. (11th ed.). United States of America: Fordham University.
Krootboonyong, H. (2014). Principles of Investment. Bangkok: SE-EDUCATION Public Company Limited.
Treeratpant, K. et al. (2016). Conceptual Development of Risk Management Based on Code of Conduct Governance of the Listed Companies and Investment Behavior of Investors in the Stock Exchange of Thailand. MUT Journal of Business Administration, 13(2), 1-16.
Ratchadamarin, P. (2009) Factor affecting the prices of Futures contracts listed on the Stock Exchange of Thailand (SET50) INDEX Futures. Thesis Master's degree of Economics. Ramkhamhaeng University.
Wichitmetarwanitch, S. (2014). Foreign Direct Investment. Finance and Banking Magazine.
Budphet, S. (2010). Study economic factors affecting value Trading of securities of retail investors in the Stock Exchange of Thailand. Thesis Master's degree. The University of the Thai Chamber of commerce.
Chotchuang, S. (2014). Macroeconomic Factors Influencing Foreign Direct Investment in Thailand. Journal of Economics and management Strategy.
Kittisukcharoen, S. (2015). Daily Factors Affecting the SET50 Index. Independent study. Master of Science. Bangkok University.
Sullivan, Arthur & Steven M. Sheffrin (2003). Economics: Principles in action. Upper Saddle River, New Jersey 07458: Pearson Prentice Hall.
Thaniya, O. and Thitiwan, S .(2016). Factors Affecting Foreign Direct Investment in Thailand. The Journal of Business, Economics and Communications: BEC Journal, 11(2), 75-88.
Bank of Thailand. (2019). Accessible. Retrieved January 2019 from: http://www.bot.or.th