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
returns by taking on more market risk deliver less risk- adjusted returns on average. This result echoes the stock-level finding by Saengchote (2017) that Thai stocks with high betas tend to have low alphas
Mutual Funds - Ratanabanchuen & Saengchote © Four Stylized Facts about Open-Ended Equity Mutual Funds in Thailand 1. Most funds do not beat the market, whether it is raw or risk-adjusted returns. 2. Most
impressive. For illiquidity stock, the shareholder wealth of illiquidity stocks depends on the investors’ choice whether they prefer to today payment as the dividend yield or they could wait on wealth in
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
Conclusions Table 1: Value Signal Descriptions Variable Related Literature Book-to-Market Ratio (BM) Graham and Dodd (1934) and Fama and French (1993) Intangible Capital-Adjusted BM (iBM) Peters and Taylor
Dividend Weight Equal Weight Multi-Factors Weight Price Weight Free-float adjusted indices are more investable, and commonly used for tracking in many markets. Screening methods # All indices 79,638 Equity
of GHECO-One 6 Normalized Profit for 2018 is adjusted with Write Off tax and Adjustments of Revenue Levelization (TFRS 15) for comparison purposes. Normalized Profit for 2019 has effects from TFRS 15
of GHECO-One 6 Normalized Profit for 2018 is adjusted with Write Off tax and Adjustments of Revenue Levelization (TFRS 15) for comparison purposes. Normalized Profit for 2019 has effects from TFRS 15
decisions. We measure value through a certainty-equivalent utility-adjusted retirement income metric. Gamma will vary for different types of investors and for different strategies; however in this paper we