Pandemics and Financial Assets

There have been several pandemics in the history of mankind. One of the major pandemics was the Spanish flu that took place in 1918, in which millions of lives were lost globally. Despite significant advances in science and medicine since then, the COVID-19 pandemic has still caused major impacts around the world. As evidenced, pandemics not only cause social and public health implications, but also cause effects on the economy as well. This chapter addresses the ill effects of pandemics on the economy and presents how the financial markets and financial institutions were influenced and how they responded to the pandemics. More specifically, this chapter identifies the effects of the pandemics on various assets (e.g., crude oil, gold, currencies, equity, bonds, and cryptocurrencies) around the world. In addition, the chapter also presents evidence of corporates’ characteristics relative to their responses to the ill effects of the pandemics

The Environmental, Social, and Governance (ESG) Investment and Its Implications

Investment management has been an important part in a long-term financial planning for investors around the world. Traditionally, investors aim to maximize the risk premium relative to the riskiness of the investment subjected to certain goals and constraints such as the time horizon, risk appetite, and consumption behavior. Recently, investors, both retail and institutional investors, have shown significant interests in sustainability especially on the environmental, social, and governance, which is often referred to as ESG investments. Studies on ESG investing are unable to reach consensus. We will review literature related to ESG investing in order to identify key limitations that obstruct advancements in this field. In particular, key limitations that we have identified involve the issues of data inconsistencies and the choice of benchmarks, among others. Furthermore, this chapter identifies areas for future research that address these limitations and thus should advance research in this field

Sustainability and Corporate Innovation

Sustainable development is one of the prominent goals promoted by the United Nations (UN) and identifies innovation as one of the important elements. Therefore, sustainable development is a combination of both developmental and environmental imperatives through innovation, implying a new way of science incorporating the technology integration and social philosophy. This chapter discusses how sustainability creates business opportunities and be counted toward the future investment for the firms. It is the path leading from creative thinking and corporate innovation. Thus, the relationship between corporate innovation and sustainability plays a vital role for firms to gain competitive advantages such as gaining value creation, creating cooperation value with the stakeholders, tapping into new markets and customer segments, and creating a transformational solution. Firms can be sustainable not only by profit maximization, but also address the maximization of the interests’ stakeholders by not causing any impact on nature and environmental resources

The factors that affect academic achievements in the subjects which are fulfilled by using e-Learning in RMUTP

รายงานการวิจัย--มหาวิทยาลัยเทคโนโลยีราชมงคลพระนคร, 2556The objective of this research is to find out the factors that affect academic achievements in the subjects which are fulfilled by using e-Learning in RMUTP by using questionnaire. The questionnaire is separated into 2 parts, the first part is to find out the satisfaction level of each factor and the second part is to find out the effective level of each factor. After the researcher analyzed the data of tested questionnaire of 169 samples students by using Simple Sampling method from 294 students who study in the subjects which are fulfilled by using e-Learning, the information were as follows: 1. The satisfaction level of factors is between normal And high, the mean of satisfaction level of computer and internet infrastructure factor is normal ( x = 2.81), the mean of satisfaction level of supporting e-Learning system factor is normal ( x = 3.27), the mean of satisfaction level of the supporting personal factor is high ( x = 3.50), the mean of satisfaction level of e-Learning benefit is high ( x = 4.11). 2. The mean of effective level of computer and internet infrastructure factor is very high ( x =4.29) and the mean of effective level of supporting e-Learning system factor is normal ( x =2.98) In concluding to above information, the computer and internet infrastructure factor is the factors that affect academic achievements in the subjects which are fulfilled by using e-Learning in RMUTP.Rajamangala University of Technology Phra Nakho

Cyber Trust Index: A Framework for Rating and Improving Cybersecurity Performance

Cybersecurity risk is among the top risks that every organization must consider and manage, especially during this time wherein technology has become an integral part of our lives; however, there is no efficient and simplified measurement method that organizations or regulators could use, as frequently as they need, to evaluate and compare the outcome of cybersecurity efforts that have been put in place. Consequently, this has resulted in an absence of critical data for cybersecurity improvement. This research proposes a Cyber Trust Index (CTI), a novel and simplified framework for evaluating, benchmarking, and improving organizations’ cybersecurity performance. Methods: The researchers analyzed prominent scientific research papers and widely used security standards to develop baseline security controls that serve as a measurement foundation. Then, they identified Control Enablers and Capability Tiers that were used as base measures and measurement methods. The CTI framework was evaluated by experts and tested with 35 organizations from the critical information infrastructure (CII) sector, as well as other generic sectors, in Thailand to confirm its validity and reliability in real organization settings and identify the priorities and factors that can contribute to better cybersecurity performance. Results: The CTI has two key elements: the baseline controls and rating methods. The baseline controls comprise 12 dimensions, 25 clusters, and 70 controls. The rating methods utilize five control enablers and five capability tiers to compute scores. A binary questionnaire is used to capture data for the rating process. Based on a statistical analysis of CTI results from 35 pilot organizations, 28.57% are in the beginner group with high-risk exposure, 31.43% are in the leader group with low-risk exposure, and 40% of organizations are in between (the intermediate and advanced groups). Two key factors distinguish between the beginner and leader groups: (1) an internal factor, which is the Control Enablers; and (2) an external factor, which is the influence of a cyber regulating body. Our study confirms that Control Enablers in higher Tiers will help organizations achieve better cybersecurity performance (R = 0.98021) and highlights the significance of cyber regulating bodies by showing a shear difference of 197.53% in cyber performance between highly regulated and low-regulated industries. Conclusions: This research reveals key insights into the importance of Control Enablers, which are the internal factors that organizations must leverage to drive better cybersecurity performance, and the positive return on enforcement, which emphasizes the need for cyber regulating bodies. The CTI framework has proven to be valid and efficient for measuring cybersecurity performance. At the very least, a step-wise roadmap is provided for organizations and regulators to adopt and adapt the CTI framework for their cybersecurity measurement and improvement mission

Gender Diversity and Corporate Governance

Gender diversity in the workplace has been an issue receiving a tremendous amount of attention both in academia and in the popular press. The research to date has tended to focus on the obstacles to promotion of women at lower and middle management levels, often referred to as a glass ceiling effect. However, most research on the subject has been mainly restricted to the definition of gender, by biological determination, that is, male and female, rather than by social construction. This chapter addresses the impact of gender diversity leadership and firms’ performance. In addition, it offers a synopsis of selected research examining the LGBT-supportive workplace policies and firms’ outcomes. Further, the chapter identifies priorities for future research that can advance our understanding on this research area, and the broader field of financial studies, encompassing the growing interest in the boundaries between the economic, the psychological and the social areas

Cyber Trust Index: A Framework for Rating and Improving Cybersecurity Performance

Cybersecurity risk is among the top risks that every organization must consider and manage, especially during this time wherein technology has become an integral part of our lives; however, there is no efficient and simplified measurement method that organizations or regulators could use, as frequently as they need, to evaluate and compare the outcome of cybersecurity efforts that have been put in place. Consequently, this has resulted in an absence of critical data for cybersecurity improvement. This research proposes a Cyber Trust Index (CTI), a novel and simplified framework for evaluating, benchmarking, and improving organizations’ cybersecurity performance. Methods: The researchers analyzed prominent scientific research papers and widely used security standards to develop baseline security controls that serve as a measurement foundation. Then, they identified Control Enablers and Capability Tiers that were used as base measures and measurement methods. The CTI framework was evaluated by experts and tested with 35 organizations from the critical information infrastructure (CII) sector, as well as other generic sectors, in Thailand to confirm its validity and reliability in real organization settings and identify the priorities and factors that can contribute to better cybersecurity performance. Results: The CTI has two key elements: the baseline controls and rating methods. The baseline controls comprise 12 dimensions, 25 clusters, and 70 controls. The rating methods utilize five control enablers and five capability tiers to compute scores. A binary questionnaire is used to capture data for the rating process. Based on a statistical analysis of CTI results from 35 pilot organizations, 28.57% are in the beginner group with high-risk exposure, 31.43% are in the leader group with low-risk exposure, and 40% of organizations are in between (the intermediate and advanced groups). Two key factors distinguish between the beginner and leader groups: (1) an internal factor, which is the Control Enablers; and (2) an external factor, which is the influence of a cyber regulating body. Our study confirms that Control Enablers in higher Tiers will help organizations achieve better cybersecurity performance (R = 0.98021) and highlights the significance of cyber regulating bodies by showing a shear difference of 197.53% in cyber performance between highly regulated and low-regulated industries. Conclusions: This research reveals key insights into the importance of Control Enablers, which are the internal factors that organizations must leverage to drive better cybersecurity performance, and the positive return on enforcement, which emphasizes the need for cyber regulating bodies. The CTI framework has proven to be valid and efficient for measuring cybersecurity performance. At the very least, a step-wise roadmap is provided for organizations and regulators to adopt and adapt the CTI framework for their cybersecurity measurement and improvement mission

Scoring Sufficiency Economy Philosophy through GRI Standards and Firm Risk: A Case Study of Thai Listed Companies

The purpose of this study is to evaluate sufficiency economy philosophy (SEP) performance through annual reports and voluntary sustainable development reports and examines the relationship between SEP performance and firm-specific risk of Thai listed companies from 2013 to 2018. Based on global reporting initiative (GRI) standards, the SEP performance was measured by aligning each GRI topic with each of the SEP elements to create an SEP scoring system. The scoring system was applied and tested by evaluating 34 firms for six years. The outcome scores were recorded in panel data structure and used to test two competing hypotheses of risk reduction and managerial opportunism. The regression results supported the risk reduction hypothesis and thus practicing SEP reduced firm-specific risk. Since our sample was limited to 34 firms, a two-stage least squares instrumental variable (2SLS-IV) analysis was performed to estimate the causal relationship between SEP performance and firm-specific risk. The result remained negatively and significantly correlated, indicating that SEP practice stimulated business sustainability. The finding suggested that the SEP scoring system was able to capture SEP performance and practicing SEP appeared to reduce firm-specific risk, which was consistent with the risk reduction hypothesis of the stakeholder theory

CSR Reporting and Blockchain Technology

Blockchain technology is a public ledger that stores data in a chain of blocks which can radically improve the quality of our records from “records that might be trustworthy” to “records that trust is absolute”. This chapter explores one area that blockchain technology can radically transform but has not yet received significant attention. We evaluate the suitability of applying blockchain technology for corporate social responsibility (CSR) reporting. We demonstrate that blockchain technology is suitable in the context of CSR reporting since there is a strong need for an immutable common database shared among various stakeholders with potential trust issues. We also argue that blockchain technology does not completely eliminate existing trusted third parties such as governments, international organizations that provide CSR reporting standards, major CSR reporting assurance companies and major CSR infomediaries. In particular, blockchain technology can be used as a platform that integrates all traditional trusted third parties, transforms their functions, and reduces their drawbacks for advancing CSR reporting. We also demonstrate that a permissionless public blockchain would be the most suitable structure