Are Value Premiums Driven by Behavioral Factors? Are Value Premiums Driven by Behavioral Factors? Kanis Saengchoteα Sampan Nettayanunβ αChulalongkorn Business School βFaculty of Business, Economics

deposits at banks pledged as collateral for the payment of raw material and to decrease interest of loans together with declining on fair value on trade securities thus fluctuation on capital market

property of Bt167 million, a decline of Bt341 million for the value of trade receivable and other receivable, an increase of Bt358 million of inventory, and an increase of Bt58 million for the Goodwill

increase in total assets of Bt216 million from the December 31, 2016 was due mainly to an increase of Bt177 million for the value of trade receivable and other receivable, an increase of Bt108 million of

, a decline of Bt204 million for the value of trade receivable and other receivable, an increase of Bt163 million of inventory as sales increased, and an increase of Bt373 million for the value of

and KCEA’s property of Bt167 million; and depreciation cost & write-off of Bt480 million), an increase of Bt118 million in the value of trade receivable and other receivables, an increase of Bt490

. The company has also recognized the goodwill valuing at Baht 7 million from purchasing of the shares from the previous partner at a price higher than that of the book value. Nevertheless, trade account

property, plant and equipment of Bt296 million, a decrease in cash of Bt271 million, a decrease in the value of trade receivable and other receivable of Bt253 million, and an increase in contract costs of

Bt16,501 million at the end of 2019, was due mainly to an increase in cash of Bt426 million, an increase in the value of trade receivable and other receivable of Bt353 million, an increase in inventory of

Bt868 million from Bt16,501 million at the end of 2019, was due mainly to an increase in cash of Bt1,520 million for a liquidity reserve, a decrease in the value of trade receivable and other receivable