% • [High-Risk Group] One standard deviation increase in realized loss would increase risk-taking by 2.98% SEC Classification : ใชภ้ายใน (Internal) Results – Bull vs. Bear Markets 19 SEC Classification

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market conditions:  Period 1: Mar 2000 to Oct 2000 – bear market  Period 2: Nov 2000 to July 2001 – neutral market  Period 3: Nov 2001 to Jun 2002 – bull market • Exclude opening transactions and trades

environmental impacts of different investments and protect investors from greenwashing, put pressure on companies to become climate aligned and steer investment towards more sustainable initiatives. It must be

environmental and governance activities since social engagement is a critical driver for corporate value creation. Second, to steer CSR concerns, capital market regulators may offer tax incentives to encourage

markets instead of bull markets. Nevertheless, only one-third of the equity mutual funds in this study can reveal the excess returns compared to benchmark. For the per- sistence of equity mutual fund

crucial position to promote internal culture that values audit quality and it is their attitude toward audit quality that would be a key factor to steer the firms in the right direction. The followings are

responsibilities Firm leaders are in a crucial position to promote internal culture that values audit quality and their attitude toward the audit quality is a key factor to steer the firm in the right direction

weak spots. In particular, this taxonomy is a multipurpose tool that can be used for a variety of objectives. These could include:  To steer the market and provide guidance, frameworks and standards for