University of the Thai Chamber of Commerce

About: University of the Thai Chamber of Commerce is a education organization based out in Bangkok, Thailand. It is known for research contribution in the topics: Corporate social responsibility & General equilibrium theory. The organization has 223 authors who have published 422 publications receiving 5380 citations.

Phase synchronization based minimum spanning trees for analysis of financial time series with nonlinear correlations

Abstract: The cross correlation coefficient has been widely applied in financial time series analysis, in specific, for understanding chaotic behaviour in terms of stock price and index movements during crisis periods. To better understand time series correlation dynamics, the cross correlation matrices are represented as networks, in which a node stands for an individual time series and a link indicates cross correlation between a pair of nodes. These networks are converted into simpler trees using different schemes. In this context, Minimum Spanning Trees (MST) are the most favoured tree structures because of their ability to preserve all the nodes and thereby retain essential information imbued in the network. Although cross correlations underlying MSTs capture essential information, they do not faithfully capture dynamic behaviour embedded in the time series data of financial systems because cross correlation is a reliable measure only if the relationship between the time series is linear. To address the issue, this work investigates a new measure called phase synchronization (PS) for establishing correlations among different time series which relate to one another, linearly or nonlinearly. In this approach the strength of a link between a pair of time series (nodes) is determined by the level of phase synchronization between them. We compare the performance of phase synchronization based MST with cross correlation based MST along selected network measures across temporal frame that includes economically good and crisis periods. We observe agreement in the directionality of the results across these two methods. They show similar trends, upward or downward, when comparing selected network measures. Though both the methods give similar trends, the phase synchronization based MST is a more reliable representation of the dynamic behaviour of financial systems than the cross correlation based MST because of the former’s ability to quantify nonlinear relationships among time series or relations among phase shifted time series.

Long-term container throughput forecast and equipment planning: the case of Bangkok Port

Abstract: Purpose This paper aims to forecast inbound and outbound container throughput for Bangkok Port to 2041 and uses the results to inform the future planning and management of the port’s container terminal. Design/methodology/approach The data used cover a period of 16 years (192 months of observations). Data sources include the Bank of Thailand and the Energy Policy and Planning Office. Cause-and-effect forecasting is adopted for predicting future container throughput by using a vector error correction model (VECM). Findings Forecasting future container throughput in Bangkok Port will benefit port planning. Various economic factors affect the volume of both inbound and outbound containers through the port. Three cases (scenarios) of container terminal expansion are analyzed and assessed, on the basis of which an optimal scenario is identified. Research limitations/implications The economic characteristics of Thailand differ from those of other countries/jurisdictions, such as the USA, the EU, Japan, China, Malaysia and Indonesia, and optimal terminal expansion scenarios may therefore differ from that identified in this study. In addition, six particular countries/jurisdictions are the dominant trading partners of Thailand, but these main trading partners may change in the future. Originality/value There are only two major projects that have forecast container throughput volumes for Bangkok Port. The first project, by the Japan International Cooperation Agency, applied both the trend of cargo volumes and the relationship of volumes with economic indices such as population and gross domestic product. The second project, by the Port Authority of Thailand, applied a moving average method to forecast the number of containers. Other authors have used time-series forecasting. Here, the authors apply a VECM to forecast the future container throughput of Bangkok Port.

Entrepreneurial Orientation as the Determinant of Entrepreneurial Marketing Behaviors

Abstract: Although entrepreneurial marketing (EM) behaviors are widely reported, there is little discussion on what determines the level of a firm’s behaviors. This study contributes to the knowledge in the fields of entrepreneurship and entrepreneurial marketing by proposing EO, entrepreneurial orientation, as an antecedent of EM behaviors and arguing that EO acts as a multidimensional construct when affecting EM behaviors. The relationships between EO and EM behaviors are empirically investigated using multi-group confirmatory factor analysis and structural equation modeling techniques. Results from the analyses support the hypothesis that EM behaviors are driven by EO. Firms with a higher level of EO engaged in EM behaviors more than firms with a lower level of EO. At the dimension level, innovativeness, proactiveness, and risk-taking are found to independently affect EM behaviors. With innovativeness having the strongest impact, this study concludes that innovativeness is the leading essence of EM behaviors. The results support a new consensus among entrepreneurship research scholars who suggest a direction toward multidimensional EO.