To break or not to break: Evidence from price discovery process of Thai stocks during the pre-opening of each trading session To break or not to break Evidence from price discovery process of Thai

HONDA ENGINEERING ASIAN CO No.CS037/2017 October 31, 2017 Subject : Information Memorandum regarding the Proposed Asset Acquisition To : President The Stock Exchange of Thailand Attachment

HONDA ENGINEERING ASIAN CO เลขท่ี ลข. 037/2560 วนัท่ี 31 ตุลาคม 2560 เร่ือง สารสนเทศเก่ียวกบัการไดม้าซ่ึงสินทรัพย ์ เรียน กรรมการผูจ้ดัการ ตลาดหลกัทรัพยแ์ห่งประเทศไทย ส่ิงท่ีส่งมาดว้ย สารสนเทศเก่ียวก

HONDA ENGINEERING ASIAN CO No WICE 002/2018 4 January 2018 Subject: The payment of share acquisition of Universal Worldwide Transportation ( “UWT”) To President The Stock Exchange of Thailand

HONDA ENGINEERING ASIAN CO เลขท่ี WICE 002/2561 วนัท่ี 4 มกราคม 2561 เร่ือง ขอแจง้การเขา้ท ารายการและช าระเงินค่าหุน้สามญั Universal Worldwide Transportation ( “UWT”) เรียน กรรมการผูจ้ดัการ ตลาดหล

facts about the types of stocks they hold and the positive relationship between past returns and the ability to attract new investment capital, which we build on in the second and third essays. The second

and decreased when comparing with cash or equate with cash by 24.7 MB and increased 34.2 MB of account receivable and decreased of the inventory stocks at 8.7 MB and decreasing of the other current

shareholder wealth through . • A company's free float is important to potential investors because it offers insight into the company's stock volatility. • Stocks with small free float tend to be more volatile

important roles of family firms in East Asian region. The common characteristics of family business and illiquid stocks, the sample data, is the low turnover ratio (Anderson and Reeb, 2003). The previous

1 MB and decreased when comparing with cash or equate with cash by 6 MB and increased 24 MB of account receivable and decreased of the inventory stocks by 13 MB and decreasing of the other current