+ 𝜸𝒕 + 𝜺𝒊,𝒕 𝑦𝑖,𝑡 is the risk-taking behavior variable of individual i at month t 𝑔𝑖,𝑡−1 and 𝑙𝑖,𝑡−1 are paper gain and paper loss of the previous month 𝐺𝑖,𝑡−1 and 𝐿𝑖,𝑡−1 are realized

Senior USD 100 Face Value USD 100 Green Bond (GB) Selected features for green and conventional bond matching pairs 1) Variable used in Propensity Score Matching Approach 2) Variable used in Coarsened Exact

regulation or other country specific idiosyncrasies. The first set of tests is a univariate test of all variables included in study to isolate exact relationship of each variable in isolation. In addition, we

optimizing costs has shown good progress. This will continue as the impact from the integration of Saraburi Quicklime has an effect. On the variable cost side fuel costs were higher than in the same period

employee incentive programs. On the variable cost side fuel costs were higher than in the same period last year and also in fixed costs related to production maintenance cost increased due to the earlier

. 2. Assumption in terms of cost (1) Cost assumption of online media and the Internet business Variable Cost Cost 2020F 2021F 2022F 2023F 2024F Commission Fee for Content Team 6.21 percent of revenue

decreased by -6% as a focus on optimizing costs has shown good progress. On the variable cost side fuel costs were higher than in the same period last year and also in fixed costs related to production

installed in the past year. However, the main variable costs including raw materials and consumables used decreased from the previous year as the production slowed down. The only selling and administrative

synergies of the acquisition contributed to the growth in revenue while variable cost synergies (particularly on fuel specific consumption optimization) contributed positively to consolidated EBITDA

period ending 31 March 2018 could be divided in to two key components as follows: 1. Variable cost component which shall be varied in accordance with the volume sold consist of (1) raw materials and