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PowerPoint Presentation CORPORATE GOVERNANCE FOR ASIAN PUBLICLY LISTED FAMILY-CONTROLLED FIRMS Dr. Tony Tan, CFA Co-Head, Ethics, Standards & Professional Conduct 6 December 2017 Bangkok, Thailand

• A related strand of research focuses on price clusters. • Many studies have found that the stock prices tend to cluster around particular numbers (e.g. Harris (1991), Aitken et al. (1996), Brown et al

Goetzman&Ibbotson (1994) Nonparametric contingency table Yes Brown&Goetzman (1995) Nonparametric contingency table Yes Carhart (1997) 4-factor model momentum Yes Bollen&Busse (2005) 4-factor model momentum

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ร้อยละ 100 ของทนุจดทะเบียนทัง้หมด โดยมีรายช่ือกรรมการ ดงันี ้ 1. นายสราวฒุิ พรพฒันารักษ์ 2. Tan Lian Kiow 3. นายจรุงศกัดิ์ เฟ่ืองฟสูนิ ที่ สนล. 014/2561 เร่ือง แจ้งการร่วมทนุในบริษัทตา่งประเทศ 2 / 2 4

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an intention to transition away from less-brown fossil-fuel sources (such as natural gas) to a waste-to-energy approach. In Sustainalytics’ view, such a transition could be strengthened by adding

’ attention and increase a firm’s investment visibility (Brown et al., 2009). Main Explanations Growth and Risk – What? • Although growth and risk seem as two distinct inputs, recent research suggests they are