earnings strings. 9 Theoretically, sufficiently high earnings persistence drives a string of earnings in the absence of a strong time trend in earnings. This, therefore, may be the case that the reward to

find that sufficiently high earnings persistence drives a string of earnings in the absence of a strong time trend in earnings. 6/29/2015 9 1st Question • To the extent that investors employ past

Persistence of Performance http://www.sec.or.th Empirical Paper Methodology Evidence Sharpe (1966) Spearman rank correlation Yes Jensen (1968) Jensen’s alpha No Grinblatt&Titman (1989,1992) Jensen’s alpha Yes

. 10240 Email: pariyada.s@nida.ac.th Vol.7 No.2/2013 Persistence of Equity Mutual Fund Performance in Thailand Sorasart Sukcharoensin* and Pariyada Sukcharoensin** Abstract This study investigates the

LTFs, which have much shorter effective lockup period. 3 Exchange of Thailand. During our sample period of 2005 to 2016, there are 294 unique open- ended equity mutual funds, whose TNA over time is

mutual funds are able to successfully time the market and that their performance is negatively related to their expenses. • Carhart (1997) documents that persistence in superior fund performance is very

Section 109 Securities and Exchange Act B.E. 2535 Section 109. The Office may require any securities company to submit any report or present any document for any period or from time to time as

Description Unit 2017 2016 2015 1. Liquidity ratio Time 7.59 8.29 1.58 2. Liquidity quick ratio Time 3.13 4.36 0.50 3. Average debt collection time Day 69 57 40 4. Average debt repayment time Day 71 64 63 5

the 1st quarter ended 31 March Description Unit 2018 2017 2016 1. Liquidity ratio Time 9.48 6.69 9.48 2. Liquidity quick ratio Time 1.47 3.26 6.16 3. Average debt collection time Day 53 62 45 4. Average

26.31 million or increase 38 % 2. Financial status Significant financial ratios in the 1st quarter ended 31 March Description Unit 2019 2018 2017 1. Liquidity ratio Time 9.43 9.48 6.69 2. Liquidity quick