earnings are modified for risk and no further adjustment to the discount rate should be used beyond risk-adjusted expected earnings. Their model specifies that risk residing in economic fundamentals, i.e
market liquidity indexes are (1) turnover value (2) illiquidity ratio (3) adjusted zero return measure (4) illiquidity ratio (5) return reversal measure (6) Liu’s measure or turnover adjusted number of
of trading volume, a number of listed companies along with the introduction of new financial instruments and complexity of management strategies. Assessment criteria must therefore be adjusted in
Power BI visualization of our results can be accessed at http://bit.ly/2PjAo2L. Keywords: equity mutual funds, risk-adjusted return, flow-performance relationship JEL Classification Code: G11 http
improvement in shipping costs and adjustment of commission policy which was adjusted to pay at lower rate than last year. 8. Administrative expenses In 2018, administrative expenses increased by Baht 20. 0
prices highly adjusted following the crude oil price and uncertainty of global demand and supply, which finally caused the Company’s overall raw material prices jumped up to 238.74 million baht, and
profit of 6.75 percent due to cost of raw materials of steel adjusted higher than selling price and electricity (more value) but on the other hand there are burdened cost of Power Plant in Buriram which
follow: Note: The Company has adjusted the sales’ expenses to deduct and show the net amount in sales revenue resulting in a decrease in sales revenue and gross profit. As the for distribution cost, the
million from the printing business and Baht 14.12 million the power plant business, compared to the same period of last year. The main reason is that the solar business has adjusted the unrealized exchange
14.37% due to cost of raw materials for wire has adjusted which higher than sales price and allowance for diminution in value of inventories has been recorded because of inventory deterioration which