provide a margin of safety with a potential positive returns. Hypothesis construction • Result expectations: Types of investors Total volume imbalances Marketable volume imbalances Retail investors

/Total Return vs Investor Return g Introduce the Investor Return /How much investors lose chasing returns / Investors often suffer from poor timing (buy high, sell low) gKey Take-Away Source: Morningstar

ownership of the business.  Positive gains of the company will also benefit the shareholders. However, the capital increase may cause a dilution effect on shareholders. Therefore, supervision of the program

.Thai Juristic Persons Thai Juristic Persons 543,892.51 1.Short-term Debt Securities Short-term Debt Securities 327,830.07 1.Thai Investors Thai Investors 327,780.07 Institutions 257,599.59 High Net Worth

1 Thai Juristic Persons By Thai Juristic 543,842.49 1.Short-term Debt Securities Short-term 327,780.06 Public Offerings 800.00 Institutions / High Net Worth Investors 262,656.39 Private Placements

year, representing a seven-year high and it remains a driving force of the economy this year according to the Bank of Thailand. GDP has again been upgraded from 3.8-4% to 4-4.5% which is positive for the

supported our performance , and we expect these to normalize in Q4. However, pricing trend continues to be positive and while we have one kiln in maintenance we will continue to see good asset utilization

., 2009). Their evidence indicates that there are valuation premiums for firms surpassing three benchmarks. Several studies suggest that incremental positive effects on prices or returns, also known as

small and medium-sized enterprises The winners, named in virtual ceremonies on October 21, were selected by a panel of 15 high-calibre judges assembled from across sectors including women entrepreneurs

facts about the types of stocks they hold and the positive relationship between past returns and the ability to attract new investment capital, which we build on in the second and third essays. The second