characteristics (Matsumoto, 2002) - Institutional ownership - Reliance on implicit claims with their stockholders - Value-relevance of earnings Natural disasters (such as hurricanes: Byard et al. 2007

to foreign exchange volatility during the Covid-19 pandemic in first quarter that lead to accumulate loss on exchange rate. However, administrative expenses on 2nd quarter of 2020 decreased 32.33

are sustainably different from the underlying financial version of the agency theory. It assumes that each stakeholder is a part of implicit and explicit contracts that can contribute to a corporation

implicit in the methodology but have been clarified through notes Web pages that facilitate dissemination Research highlights on the credit implications of ESG trends and factors ESG- specific conferences or

products (i.e., annuities), tax-efficient allocation decisions, and a portfolio optimization that includes a proxy for the investor’s implicit and/or explicit liabilities. Each of these five Gamma components

the business environment by closed 8 departments which have accumulate loss in year 2019. Moreover the Company has promotional activity, made an advertisement in each area for increased sale

business strategy for appropriate with the business environment by closed 2 departments which have accumulate loss in Quarter 1’ 2020. 3. Analysis of Operating Results Statements of Comprehensive Income

activity The Contacts may accumulate their participation hours in the activities accepted by the Office provided that at least 15 hours of attendance are achieved during the latest two calendar years prior

Contacts may accumulate their participation hours in the activities accepted by the Office provided that at least 15 hours of attendance are achieved during the latest two calendar years prior to the

under trademark “Wuttisak Clinic” the Company has change the business strategy for appropriate with the business environment by closed 7 departments which have accumulate loss in July 2019 and decreased