firms Unlike the other Greeks, implied volatility was unknown. 6 t Implied volatility Realized volatility t + 1 • It was calculated by reverse engineer process from the option price at time t. • Implied

]St0 HC = Ct1−[Delta]St1 DeltaBS = f ( St0, K, T, r, σ ) Historical statistic : Standard deviation Implied statistic : Min ∑ (Cmarket – C theoretical) 2 DeltaWM = f ( St0, K, T, r, μ, σ* ) σ* = f (r, μ

/ Frequent / Persistent 7 VE scale of assessment: Minor / Significant / High / Critical 8 VE scale of assessment: Non-communicative / Reactive / Remediative / Proactive 3  Verification – The KPI will be

performance drives earnings persistence. His findings are consistent with firms with more persistent earnings are fundamentally stronger. Yao (2014) also documents that certain fundamentals – namely the

ไดรบัอนุญาต ตองจัดใหมีการเปดเผยขอมูลเพื่อเปรียบเทียบคาความผันผวนแฝง (implied volatility) กับคาความผันผวนในอดีต (historical volatility) บน website ของผูออก DW โดยเปนการเปดเผย อยางตอเนื่อง

prospectus; - continuing disclosure of the implied volatility in comparison to the historical volatility on the website of the DW issuer;  - disclosure of a warning statement regarding the gearing ratio, a

globally, so as to address persistent deficiencies in listed public interest entity  audits. To achieve this goal, the AARG will ramp up its engagement with the Big-Four audit firms? leadership to address

เพิ่มเติม เพื่อใหตลาดซื้อขาย DW มีประสิทธิภาพยิ่งขึ้น (market efficient) กลาวคือ จากการศึกษาขอมูลพบวา ในทางปฏิบัติที่ผานมา ผูออก DW บางราย มีการกําหนดราคา DW โดยคิดคา Implied Volatility2 ไวคอนข

from investment scams via various new forms and channels. In this regard, the SEC has observed a persistent trend of investment scams related to the capital market, with scammers often using online

representation, warranty or undertaking, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or the opinions contained