of stocks in promise of superior performance. Studies on fund managers’ stock selection skills and fund performance yield mixed results, partly because there are various ways one could measure them.9

SUBSIDIES SEC Classification : ใชภ้ายใน (Internal) ANALYST FOLLOWING • He & Tian (2013): Analysts make a firm forego valuable long-term investments to meet short-term targets. • Lee & Mo (2020): Earnings

. Power Plant Business Group recorded a superior electricity sales (+3% QoQ and 4% YoY), from the commercial operation commencement of Nagi and Gotemba solar power plant in Japan. For Solar power plant

to Energy 2016, World Energy Council. 25 João Aleluia, Paulo Ferrão, Assessing the costs of municipal solid waste treatment technologies in developing Asian countries, Instituto Superior Técnico

shareholders. The Thai IOD would like to thank the advisory members for their contributions and suggestions in preparing this valuable manual. Prof. Hiran Radeesri Chairman Thai Institute of Directors

the advisory members for their contributions and suggestions in preparing this valuable manual. Professor Hiran Radeesri Chairman Thai Institute of Directors Association ปจจุบัน องคกรตางๆ ทั้งในระดับ

expensive mutual funds that underperform), but still provides other valuable services that enable a client to achieve his or her goals. While this financial advisor may have failed from a pure alpha

523,768,667 4.95 523,768,667 3.76 6. GS Security Holding Company Limited 520,000,000 4.91 520,000,000 3.73 7. Superior Overseas (Thailand) Co., Ltd. 412,500,000 3.90 412,500,000 2.96 8. Thai NVDR Co., Ltd

523,768,667 3.76 6. GS Security Holding Company Limited 520,000,000 4.91 520,000,000 3.73 7. Superior Overseas (Thailand) Co., Ltd. 412,500,000 3.90 412,500,000 2.96 8. Thai NVDR Co., Ltd. 187,951,907 1.78

re- place purchased PTA appears well timed.  In Asia, firstly the formation of a 50:50 JV in India in September 2016 led to subsequent de- consolidation of superior margin India PET business and