Mahidol University International College

About: Mahidol University International College is a based out in . It is known for research contribution in the topics: Tourism & Corporate governance. The organization has 240 authors who have published 485 publications receiving 6095 citations.

Optimal currency area and anchor currency in Southeast Asia

Abstract: This study examines the feasibility of the OCA formation and the selection of optimal anchor currency in ASEAN. Following the generalised purchasing power parity (G-PPP) framework, modern cointegration tests are employed on bilateral exchange rates involving ASEAN-5 currencies against four currencies of ASEAN's top trading partners during 2003-2014. The findings reveal that ASEAN members are not ready to form an OCA, as only a few significant bivariate and inconclusive multivariate cointegrating relationships can be found. With the eventual goal of forming a currency union, ASEAN policy makers may need to initially pursue bilateral economic and monetary integration led by Malaysia before extending the effort to the whole region. Significant long-run multivariate linkages among ASEAN currencies reveal no dominant anchor currency within the region, possibly due to the indifferent levels of trades and investments between ASEAN and each major trading partner. Lastly, endogenously determined break dates coincide with the 2008 global financial crisis (GFC) and reveal that ASEAN members may be affected by and may respond to the crisis at different timings, suggesting that past studies regarding ASEAN OCA may suffer from break-date selection bias.

Sign Translation with Myo Armbands

Abstract: Sign language is a common non-verbal communication method for people with impaired hearing. Despite the existence of sign language, there are communications boundaries. With the implementation of Myo armbands in predicting the gestures, this gap could be reduced. Myo armbands can collect three-axis accelerometer, three-axis gyroscope, and three-axis magnetometer signals. These collected data are used in constructing the prediction model. Translation is possible with the use of machine learning algorithms implemented in the prediction model. The algorithms used for testing the best accuracy rate from the prediction model are Decision Tree, Sequential Minimal Optimization, and Multilayer Perceptron. In addition, Mean and Standard Deviation (SD) are used to test for optimal feature selection. After testing, the prediction model that gave the best result were with MLP and SMO algorithms having Mean and SD as the optimal features. Thus, either of them could be implemented.

Identifying the relationship between Travel Agent’s Web Service Quality and E-brand Reputation

Abstract: E-travel websites have progressively played a significant role in the tourism industry because travelers can easily book a holiday trip anywhere at their fingertips. However, studies related to the...

The Effect of CEO Luck on the Informativeness of Stock Prices: Do Lucky CEOS Improve Stock Price Informativeness?

Abstract: CEOs are “lucky” when they are granted stock options on days when the stock price is lowest in the month of the grant, implying opportunistic timing and severe agency problems (Bebchuck, Grinstein, and Peyer, 2010). Using idiosyncratic volatility as our measure of stock price informativeness, we find that lucky CEOs improve the informativeness of stock prices significantly. In particular, CEO luck raises the degree of informativeness by 4.39%. Powerful CEOs who can circumvent governance mechanisms and successfully practice opportunistic timing of options grants are so secured in their positions that they have fewer incentives to conceal information, thereby improving informativeness.

Does Delaware Incorporation Affect Executive Compensation? An Empirical Analysis

Abstract: Motivated by agency theory, this study attempts to ascertain whether chief executive compensation is influenced by legal rules. In particular, we analyze whether Delaware law has an impact on CEO pay. Legal rules have been argued to impact agency conflicts. Agency costs, in turn, affect CEO compensation. Thus, we contend that Delaware law influences CEO pay through their associations with agency problems. The empirical evidence corroborates this hypothesis, showing that Delaware firms pay their CEOs significantly more generously than do non-Delaware firms (about 36% higher in total compensation). Furthermore, Delaware firms exhibit significantly lower pay-performance sensitivity (almost 50% lower), implying that the higher pay more likely reflects rent expropriation rather than shareholder wealth maximization.