Conference, December 6, 2022 SEC Classification : ใชภ้ายใน (Internal) Overall Assessment  Consistent with literature on loss-chasing behaviour and realization effect -> Sensible and useful results  Thai

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

Store building located in the CentralFestival Phuket Project is sensible, beneficial to CPN, and fair to both parties. 7. Opinions of the Board and the Audit Committee Excluding directors with vested

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

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

individual has made. 6. Behavioural biases related to investing • Aware that investors may not always make rational decisions due to biases. • Provide examples of common emotional or cognitive biases that may

”). Enclosure 3.3 Rational and background of the transaction As the conglomerate has a new business plan of 100% battery electric vehicle business, Rich Asia Industry Co., Ltd. (Subsidiary) will be the

amended documents Topic Summary of amendment and rational Information Memorandum on the Offering of Newly Issued Ordinary Shares to Specific Investors (Private Placement) at the Offering Price with a