directed TIES to rectify its 2014 financial statements due to the auditor?s qualified opinion in relation to the construction cost reports for construction contracts not prepared in accordance with its

principle proposes revision to the types of permissible investment products and the qualifications of commercial banks eligible to provide investment and deposit services in relation to asset custody of

of sufficient disclosure to support shareholders? decision making. There would be no changes to the key principles or the obligations in relation to tender offer.The whitewash resolution amendment

papers for shares issued by small and medium sized companies.?The SEC realizes underwriter?s important roles in relation to investors? investment decision making and credibility of Thai capital market. As

advice in relation to the SEC rules and regulations and disclosable information for a more efficient investor rights exercising process”, said the SEC Secretary-General.The SEC has continuously supported

roles in driving and fostering listed companies to operate responsibly in relation to ESG, and exchanged views on good governance practices, which are an essential foundation for creating sustainable

due to limitation on scope of audit imposed by the company management. The auditor was thus unable to obtain sufficient appropriate audit evidence in relation to investment in Smart Traffic Co., Ltd

qualified opinion on TIES’s 2014 financial statements in relation to the construction cost reports for construction contracts not prepared in accordance with its accounting policy. Besides, the accounting

Persistence of Performance http://www.sec.or.th Empirical Paper Methodology Evidence Sharpe (1966) Spearman rank correlation Yes Jensen (1968) Jensen’s alpha No Grinblatt&Titman (1989,1992) Jensen’s alpha Yes

analysis • Correlation matrix • pooled cross-sectional data analysis Research Finding 14 Research finding 15 Mean SD Min Max Panel A: Indonesia ROA 7.632 7.920 -16.392 41.100 ESG 20.984 10.389 2.000 50.000