has long been assumed that in times of market bubbles, rational investors, which are able to on average, properly discount future cash flows of corporations or other financial assets are consumed by

. Schoeller Group is a leading European producer of pure wool and wool blend worsted yarn, having one dyeing facility in Austria and one spinning facility in the Czech Republic, with a total production capacity

ออสเตรีย สาธารณรัฐเช็ก และประเทศ เยอรมนั กลุม่บริษัท Schoeller เป็นผู้ผลิตด้ายขนสตัว์แท้และด้ายขนสตัว์ผสม (pure wool and wool blend worsted yarn) ชัน้ น าในทวีปยโุรป ซึ่งประกอบไปด้วยโรงงานย้อมสีในประเทศ

alignment = Benefits Blend purpose with profit by responding to global challenges and ever-present pressure coming from stakeholders Companies that already align with the SDGs are more likely to have business

2 Background • Development of investment portfolio theory • TPT, MPT and PMPT (Lekovic, 2021) • Modern Portfolio Theory (Markowitz, 1952) • Rational investor • Multiple Assets • Overall risk • The

Investor • “...the 2013 Nobel Prize committee split the prize between the two camps [of rational, risk-based, efficient markets versus behavioral, irrational, and inefficient markets]” – Asness et al. (2015

of voluntary information disclosure via social media, firms would be facing incentives to only release positive news…but do they? • Trueman (1997) proposes a model showing that rational managers also

Biodiesel blend in Diesel Mandate not lower than 5% and not higher than 7% by volume on November 10, 2016, while in 1st quarter of 2016 was not lower than 6.50% and not higher than 7% by volume on August 3

result from lose purchased order from previous customer and the Biodiesel blend in Diesel Mandate has been at 5% or B5 since November 10, 2016 till the beginning of May 2017, where the Ministry of Energy

rational and consistent with similar transactions Costs that do not meet the definition of “incremental costs directly attributable” are expensed as incurred (e.g., listing fee, roadshow costs, tax