trades of 71 stocks actively traded on the SET from March 2000 to June 2002. During this time, the market experienced three distinct conditions: bullish, bearish, and neutral. The study concludes that the

▪ ลกูคา้ท าสญัญาวา่จา้ง ใหบ้รษัิทยาเป็นผูผ้ลติยา บรษัิทยาจงึยังคงมชีือ่เป็น โรงงานผูผ้ลติยาตามทะเบยีนต ารับยาดงักลา่ว License is distinct or not distinct from the OEM manufacturing service? How to

those of other business operations, e.g. property/hotel management service, project management service, etc. As of 1Q18, the Company was engaged in two distinct project management services – Crossroads

Investor = New investment channels newer to investors Main Findings • Three groups of investment behaviors with distinct perceptions on risks and returns • Perceived returns – Cash holders have lowest

51.11 Vayupak Fund 15.26 KTB FIDF 55.07 Vayupak Fund 4.09 THAI MOF 51.03 Vayupak Fund 15.50 AOT MOF 70.00 None - MCOT MOF 65.80 GSB 11.48 VAYU1 MOF 30.00 KTB & SMEB 30.5 coRPoRAte goveRnAnce Rosc FoR

engaged in two distinct project management services – a tourist facility project in Maldives (starting in 3Q16) and The ESSE Sukhumvit 36 (starting in 3Q17). In 3Q17, the Company registered revenues from

other business operations, e.g. property/hotel management service, project management service, etc. As of 4Q17, the Company was engaged in two distinct project management services – a tourist facility

of Thailand Public Company Limited (AOT) reversed of accrued concession fee to Bangkok Air Catering Company Limited (BAC) and Worldwide Flight Services Bangkok Air Ground Handling Company Limited (BFS

International Airport with 5 years of concession. The subsidiary was established by the condition of Airport of Thailand PCL. (AOT)’s term of reference with registered capital of 20.0 million baht (June 2019) 2

’ attention and increase a firm’s investment visibility (Brown et al., 2009). Main Explanations Growth and Risk – What? • Although growth and risk seem as two distinct inputs, recent research suggests they are