firms from Singapore and Thai exchanges. • Next, firms sorted into decile groups by price and top decile price range is eliminated. • Assume event firm abnormal returns are independent as RTO occurrence

has loss on cost of goods sold because the declining of raw material price and abnormal loss in manufacturing process. 2. Cost of Refining Service in the 2nd quarter of 2015, and 2014 cost of sale was

declining of raw material price and abnormal loss in manufacturing process. 2. Cost of Refining Service in the 2nd quarter of 2015, and 2014 cost of sale was THB 8.03 million and THB 18.97 million, with ratio

any special transactions or transactions came from the abnormal operations. • There was no significant change after the date specified in the latest financial statement that may affect the financial

affected by the closures and abnormal operating hours of shopping stores due to the pandemic of COVID-19. The steep decline in the number of Chinese tourists also weighed in the plunge of skincare sales. The

– Higher price-earnings multiples (Barth et al., 1999) – Positive abnormal returns (Bartov et al., 2002) – Lower cost of debt (Jiang, 2008) • One can simply ask a following question: what really drives this

equity market investors are largely rational and employ standard valuation methods over realistic time periods during normal and abnormal market conditions. What causes markets to temporarily dislocate

2019 was summarized below. • During the past year, there were no any special transactions or transactions came from the abnormal operations. • There was no significant change after the date specified in

, there were no any special transactions or transactions came from the abnormal operations. • There was no significant change after the date specified in the latest financial statement that may affect the

abnormal return than companies with Low ESG score or Low intangible capital ratio. High ESG score Low 𝑖𝑛𝑡_𝑐𝑎𝑝 𝑟𝑎𝑡𝑖𝑜 High ESG score High 𝑖𝑛𝑡_𝑐𝑎𝑝 𝑟𝑎𝑡𝑖𝑜 Low ESG score Low 𝑖𝑛𝑡_𝑐𝑎𝑝