This study examines two interrelated but separate issues: cross-sectional predictability of equity returns in the Stock Exchange of Thailand (SET), and transmission of stock market movements. The first essay empirically investigates to what extent the evidence of three major documented stock market anomalies (earnings-price ratio, firm size, and book-to-market ratio) can be generalized across national stock markets. The second essay studies the price and volatility spillover effects from the New York Stock Exchange (NYSE) to the SET. The first essay, using the Fama-Macbeth procedure and the pooled time-series cross-sectional GLS regressions, finds a weak relation between the beta and average stock returns. The adjustment of estimated beta for the effect of thin trading does not change the implications of the results. Of the three anomalies investigated, the size effect has the most prominent and consistent role in explaining average returns. For the earnings-price ratio, the results indicate that the significance of the E/P ratio variable persists only if the nonfinancial firms are considered. In contrast to the previous empirical results for the U.S. and Japanese stock markets, the book-to-market ratio fails to explain the SET equity returns. The second essay employs a generalized autoregressive conditionally heteroskedastic (GARCH) model with conditional …

The purpose of this study is to describe the history, development, problems, and issues related to achieving university status of South-East Asia College from 1974 to 1993. This historical research used records and documents from South-East Asia College and the Association of Private Higher Education Institutions of Thailand as primary sources. Also interviews with the president, faculty and staff of South-East Asia College were used. Secondary Sources were reports and publications from the Ministry of University Affairs in Thailand. The areas of emphasis in the study were government policies on private higher education, legislation that initiated the founding of the college, the founder, the college's goals, financial sources, curriculum, library, faculty, students, and buildings. It was found that the Thai government encourages the establishment of private higher education institutions. The Private Higher Educational Institution Act of 1979 was enacted to allow private universities to be equal to government universities. South-East Asia College was founded in 1974 by the Khunya Plak Muanpiew Foundation with the purpose of training Thai students for industrial technologies and business sectors. The college requested university status in April, 1987. The first attempt was turned down. Four areas not meeting the requirements were the library, faculty, students, …