Thai hedging practices : post Asian financial crisis

This paper provides survey evidence captured from a sample of 113 respondents to a 2008 questionnaire that was sent to 344 listed non-financial companies in Thailand. The study examines how Thai companies manage their exchange rate exposure post Asian Financial Crisis.

Thailand is an interesting case study because it was a country at the core of the 1997 financial meltdown and was one of the first forced by the crisis to move from a fixed to a floating exchange rate regime. It is therefore constructive to examine how businesses in Thailand have coped with a shift from a fixed to floating exchange rate and to examine how they manage their exchange rate exposure post 1997.

Findings indicate that companies that use currency derivatives do so to reduce volatile cash flows are less risky and tend to be more profitable than companies that do not use currency derivatives. This is consistent with the theory that hedging increases the value of the firm.

The type of instruments that companies in Thailand use and how they are used is similar to what other studies find in other countries. Matching and the use of forward contracts are the most common ways that companies manage transaction exposure. The study also confirms that companies with higher levels of international business engagement are more likely to use currency derivatives.

What is unique in Thailand is that Thai businesses are less rigorous in their internal control of their currency hedging activities. It is therefore recommended that companies consider a documented hedging policy and that senior management actively monitor the policy and currency hedging activity.

Sovereignty and resistance : India, China and the Asian-African Conference, 1955

This thesis examines the Asian-African Conference at Bandung, Indonesia in 1955 from a broad historical perspective. It presents evidence that the assertion of independent Asian foreign policy - non-aligned and communist led by India and China - signalled a more significant, long-term shift in West-East realtions than has been previously identified.

Manufacturing to Asia : who will win the emerging battle for talent between Dragons and Tigers?

Purpose – The purpose of this study is to examine the issues relating to recruiting highly skilled managerial and professional staff experienced by multinational companies (MNCs) manufacturing in six Asian countries, namely Indonesia, Malaysia, Philippines, Singapore, Taiwan and Thailand.

Design/methodology/approach – Data collected from 529 MNCs were used to examine critical human resource planning and recruitment concerns of companies operating in high growth “Dragon” and newly developed “Tiger” economies. The study examined the differences in recruitment practices between manufacturing and service companies and the issues relating to how manufacturers maintain an adequate skills basis.

Findings – There appears a considerable extent of battle for talent among Dragon and Tiger economies with the latter required to be more aggressive as they attempt to sustain growth. Manufacturing companies are experiencing a higher demand for more job-related managerial and technical capabilities whilst competing with service companies that are also in need for more talent. To succeed, manufacturing MNCs will need to adopt a strategic approach for recruitment and retention, and internal capability training to maintain their skilled employees in order to sustain competitive advantage.

Originality/value – The results shown in the paper provide manufacturing MNCs with insights into managerial and professional recruitment trend in Asia.

Post Asian financial crisis : a survey of Thai hedging practices

This thesis examines how companies in Thailand coped with exchange rate volatility post Asian Financial Crisis. Findings indicate businesses quickly adjusted to the transition from a fixed to floating regime. However, Thai businesses appear to be less rigorous in their internal control of currency hedging activities. The thesis recommends strategies to overcome this risk.

Political parties and democracy : Post-Soviet and Asian political parties

Political Parties and Democracy: Volume III: Post-Soviet and Asian Political Parties is the third volume in this five-volume set. It offers clearly written, up-to-date coverage of post-Soviet and Asian political parties from the unique perspective of distinguished indigenous scholars who have lived the truths they tell and, thus, write with unique breadth, depth, and scope.

Presented in two parts, this volume overviews post-Soviet parties, then discusses the realities on the ground in Georgia, Moldova, Russia, and Ukraine. Likewise, the book offers an introduction to Asian political parties, followed by chapters on China, India, Japan, Malaysia, and South Korea. Throughout, contributors explore the relationship between political parties and democracy (or democratization) in their respective nations, providing necessary historical, socioeconomic, and institutional context, and clarifying the balance of power among parties—and between them and competing agencies of power—today

False economies : a global health crisis

Recommends measures to combat global epidemics and collapsing health care systems. Global aid to health; Greater market access for developing countries; Reversal of the brain drain; Development of better drugs and vaccines.