Detecting Corporate’s Earnings Manipulation in Thailand Corporate Governance Attributes and Audit Report Timeliness: Mediating Role of Corporate Disclosure and Transparency and Moderating Role of

European fixed income – trends and analysis SEC Classification : ใชภ้ายใน (Internal) - R E S P O N S I B L E I N V E S T M E N T - ESG Incorporation & Investment Strategies in Fixed Income Carmen

% Total comprehensive income (loss) attributable to owners of the parent Operating Profit (Loss) EBIT Net Profit (Loss) Total Comprehensive income for ther period Revenue from transmission and

) (2.97) (7.86) (2.84 4.66 (37.22) Total sales 418.00 99.35 266.26 96.02 (151.74) (36.30) Other income/1 2.73 0.65 11.05 3.98 8.32 304.76 Total revenue 420.73 100.00 277.31 100.00 (143.42) (34.09) Notes: /1

; Aerts & Zhang, 2014) 5 Patterns of Earnings Management • Income minimization/ Taking a big bath - during periods of high profitability - during the crisis (Kousenidis et al. , 2013) - to avoid political

- - Total revenue from sales & service 770.1 686.0 12.3% 771.8 -0.2% Cost of sales 349.1 322.2 8.3% 355.1 -1.7% Gross profit 421.0 363.8 15.7% 416.7 1.0% % 54.7% 53.0% 54.0% Other Income 4.3 3.6 21.2% 3.5

266.27 96.02 171.73 91.32 (94.54) (35.51) Other income/1 11.05 3.98 16.32 8.68 5.27 47.69 Total revenue 277.32 100.00 188.05 100.00 (89.27) (32.19) Notes: /1 Other income comprises mainly of interest

94.77 182.18 91.48 (177.04) (49.28) Other income/1 19.78 5.23 16.95 8.52 (2.83) (14.31) Total revenue 379.00 100.00 199.13 100.00 (179.87) (47.46) Notes: /1 Other income comprises mainly of interest

) (5.74) (4.54) 70.17 Total sales 249.78 95.70 172.91 90.16 (76.87) (30.78) Other income/1 11.21 4.30 18.88 9.84 7.67 68.42 Total revenue 260.99 100.00 191.79 100.00 (69.20) (26.51) Notes: /1 Other income

202.23 93.00 (172.12) (45.98) Other income/1 12.31 3.18 15.23 7.00 2.92 23.72 Total revenue 386.66 100.00 217.46 100.00 (169.20) (43.76) Notes: /1 Other income comprises mainly of interest income and