fee premiums (Carson & Fargher, 2007). Discussion and Implication Standardised audit fees and joint audits might be interesting mechanisms to mitigate market concentration; however, further evidence is

well, the Company also intends to expand our business to CLMV countries (Cambodia, Lao PDR, Myanmar, Vietnam), which obtain an interesting direction of business growth. In the first quarter of , the

(Cambodia, Lao PDR, Myanmar, and Vietnam); which are the countries having interesting growth direction of business. The Company also organized the marketing activities to educate the water quality, which is

Company, therefore, the interesting bearing debt to equity ratio and the debt to equity ratio of shareholders do not exceed 1:1 which is in compliance with the Company’s policy. The financial costs are also

% 0.0826% 0.0843% 0.0860% 1.75% 0.0973% 0.0988% 0.1003% 0.1018% 0.1033% 0.1049% 0.1064% 2.00% 0.1144% 0.1157% 0.1171% 0.1185% 0.1198% 0.1212% 0.1226% Hypothesis construction • It is interesting to

are tax-privileged, we document several interesting facts. 2 First, most open-ended equity mutual funds in Thailand do not beat the market, whether it is raw or risk-adjusted returns. Second, while 94

, the total size of transactions does not exceed 15% of CPN

to expand business to CLMV countries (Cambodia, Lao PDR, Myanmar, Vietnam), which are the countries having interesting growth direction of business. In the 1st quarter of , the Company enabled to sell

interesting growth direction of business. In the 1 st quarter of 2017, the Company enabled to sell the beverage dispenser (Celli counter beverage dispenser) to a client in CLMV. The Company also organized the

continuously. As well, the Company also aims to expand business to CLMV countries (Cambodia, Lao PDR, Myanmar, and Vietnam); which are the countries having interesting growth direction of business. The Company