engagement performance, if improved will heighten their efficiency and bolster investor confidence in the Thai capital market.      The SEC?s audit inspection in 2013 covering eight audit firms indicated that

companies: because of low interest rates. • Large financial Institutions / banks: may increase risk to compensate for low interest rates. • Telecoms: high competition and change; a lot of intangible assets

% • [High-Risk Group] One standard deviation increase in realized loss would increase risk-taking by 2.98% SEC Classification : ใชภ้ายใน (Internal) Results – Bull vs. Bear Markets 19 SEC Classification

formulate government policy and suggest corporate action and to facilitate firm value in emerging market countries at times of heighten GPR. 6 ❑ Sample consists of firms from 14 emerging countries classified

national institute responsible for driving and supporting all sectors to enhance their level of efficiency and increase their level of competitiveness. We believe that this seminar will heighten the

November – 28 December 2018. Atthavut and Sujeera colluded to send trading orders of TIGER stocks in manners of manipulating the closing price, executing bid orders to heighten the price, dominating bid

November – 28 December 2018. Atthavut and Sujeera colluded to send trading orders of TIGER stocks in manners of manipulating the closing price, executing bid orders to heighten the price, dominating bid and

when marginal benefit of the capital investment equals its marginal cost. Myers & Majluf (1984); Fazzari et al. (1988) AGENCY FRAMEWORK Market frictions, e.g. informational asymmetry, cause moral hazard

Thai market. Buy Sell Low momentum High momentum Based on last month return (2) If high returns attract fund flow, then funds may be tempted to increase risk to compete. Equity Mutual Funds

ระดับการก ากับดูแลผู้ประกอบธุรกิจหลักทรัพย์ (Enhance Risk Based Supervision) • บริษัทหลักทรัพย์ • บริษัทจัดการลงทุน และ LBDU A. ก าหนดนโยบายทิศทางการพัฒนาและก ากับธุรกิจหลักทรัพย์ให้สอดรับและเท่าทันกับ