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.

Observability and endogenous organizations

Abstract: This paper establishes a relationship between the observability of common shocks and optimal organizational design in a multiagent moral hazard environment. We consider two types of organizations, namely relative performance and cooperative regimes, and show that, with sufficient information regarding common shocks, a cooperative organization can be optimal even if outputs are highly correlated. The model is then embedded in a Walrasian general equilibrium model in which choices regarding organizations and investment in information on common shocks are jointly determined. Numerical results reveal that both cooperative and relative performance regimes can coexist in equilibrium but only cooperative organizations invest in full observability of common shocks. Changes in the cost of information and aggregate wealth can affect substantially the types of organizations operating and the matching patterns of heterogeneous agents in these organizations. General equilibrium effects are key in determining how information costs impact the way production is organized.

Efficiency Analysis of Life Insurance Companies in Thailand

Abstract: This paper studies the efficiency of 24 life insurance companies in Thailand during the period 2001-2008. The DEA approach is used to measure each company’s cost efficiency, technical efficiency, allocative efficiency, pure technical efficiency, and scale efficiency. The annual average efficiency scores of life insurance companies in Thailand are found to be as follows: 67.8% technical efficiency, 43% allocative efficiency, 28.2% cost efficiency, 77.4% pure technical efficiency and 86.1% scale efficiency. The results of Tobit regression reveal that foreign ownership is significantly positively related to allocative, technical and cost efficiencies. Size and human capital are found to be significantly positively related to all 5 types of efficiency. Whereas the real GDP growth rate is significantly negatively related to the technical, pure technical and scale efficiencies.

A nondominated adversarial search algorithm for a three-player chess game

Abstract: Three-player (3P) chess is a variation of chess game specially designed for three players. The winning condition that the first player will wins if the player captures any of the other's King, arises the playing strategies that a player can form a temporarily alliance with another player or a player can take advantage from the other's attacking to defeat either two of the opponents. This paper proposes a search algorithm called the nondominated adversarial search (NAS) for the three-player chess game which does not only maximize the own score but also minimize the opponents' scores. The experiment shows that the NAS algorithm can take advantage from the other's attacking to win the game.

Credit default swaps and the UK 2008-09 short sales ban

Abstract: Most studies of the short sales ban of UK financial stocks from September 2008 to January 2009 fail to control for the UK’s worst ever banking crisis and the underlying increase in risk. Th...