12.61% from the same period of previous year). The separate financial statements show a net profit for the six-month period in Q2/2017 of THB 63.92 million, or 25.89% of the total revenue (compared to

121.50 million. The net profit margin is 19.82% and 16.047% of the total revenue, respectively (compared to 16.17% and 13.64% from the same period of previous year). The separate financial statements show

for the separate financial statements in the year 2017 at THB 510.27 million, increasing THB 134.74 million from the previous year, or increasing 35.88%. The consolidated financial statements show a net

separate financial statements, the Company shows operation results for the year 2018 with the following details: unit: THB million 2018 2017 Change (THB mill.) Change (%) Revenue from Sales and Service

, which exempts the corporate income tax for the revenue from the new factory, the tax expense decreased THB 3.46 million from the previous year. Therefore, the separate financial statements show a net

corporate income tax for the revenue from the new factory, the tax expense decreased THB 5.92 million from the previous year. Therefore, the separate financial statements show a net profit for the six-month

, the tax expense decreased THB 13.19 million from the previous year. Therefore, the separate financial statements show a net profit for the nine-month period in Q3/2018 of THB 115.27 million, or 27.74

net profit of 177.26 million baht, while the separated statements show the net profit of 88.95 million baht. Comparing to year 2016, both statements show the decrease of the net profits by 54.08 million

developments in minimizing environmental and social impacts and enhancing good corporate governance practices. Keywords: CSR; firm value; latent variable; ESG; structural equation modeling 2 1. Introduction

Power BI visualization of our results can be accessed at http://bit.ly/2PjAo2L. Keywords: equity mutual funds, risk-adjusted return, flow-performance relationship JEL Classification Code: G11 http