Determinants of Audit Fees for Companies Listed on the Market for Alternative Investment

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Determinants of Audit Fees for Companies Listed on the Market for Alternative Investment

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* Master of Accountancy Program, Faculty of Business Administration, Chiang Mai University

2 Ÿ¼onª¥«µ­˜¦µ‹µ¦¥r £µ‡ª·µ„µ¦´¸ ‡–³¦·®µ¦›»¦„·‹ ¤®µª·š¥µ¨´¥Á¸¥ŠÄ®¤n

2 Assistant Professor, Department of Accounting, Faculty of Business Administration, Chiang Mai University

3 ¦°Š«µ­˜¦µ‹µ¦¥r £µ‡ª·µ„µ¦´¸ ‡–³¦·®µ¦›»¦„·‹ ¤®µª·š¥µ¨´¥Á¸¥ŠÄ®¤n

3 Associate Professor, Department of Accounting, Faculty of Business Administration, Chiang Mai University

Abstract

The objective of this study aimed to examine determinants of audit fees for companies listed on the Market for Alternative Investment (MAI). Variables in this study include company size, company complexity, company liquidity, company profitability, company risk, non-audit fee, audit report lag, corporate governance rating, auditor’s report format, and type of company’s audit firm, which were specifically focused to ascertain if any of them influenced to the audit fees. The total of 352 entries of data found during 2556 - 2559B.E. were collected; then, all acquired data were analyzed by the multiple regression analysis. The findings presented that every year during 2556 - 2559B.E., rate of audit fees for companies listed on the Market for Alternative Investment (MAI) had been increased. According to the multiple regression analysis, company complexity, audit report lag, and type of company’s audit firm had positive relationships and affected on the audit fees at 0.01 of statistical significance or at 99% of confidence level. In addition, company size had positive relationship and impacted on the audit fees at 0.05 of statistical significance or at 95% of confidence level. This study shall, therefore, benefit to the companies listed on the Market for Alternative Investment (MAI) in estimating budget for audit fees and to the auditors in setting up audit fees.

Keywords

: Audit Fee, Market for Alternative Investment (MAI).

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(Dependent Variable)

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- ­£µ¡‡¨n°Š…°Š¦·¬´š

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- ‡ªµ¤Á­¸É¥Š…°Š¦·¬´š

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­¤¤˜·“µœš¸É 10 : ­Îµœ´„Šµœ­°´¸Äœ„¨»n¤ BIG4 ¤¸‡ªµ¤­´¤¡´œ›rÁ·Šª„„´‡nµ›¦¦¤Áœ¸¥¤„µ¦­°´¸

3. ¦³Á¸¥ª·›¸„µ¦ª·‹´¥

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(56-1) ‹µ„ÁªÈÅŽ˜r…°Š­Îµœ´„Šµœ‡–³„¦¦¤„µ¦„ε„´®¨´„š¦´¡¥r¨³˜¨µ—®¨´„š¦´¡¥r ¨³¦ª¦ª¤…o°¤¼¨…°ŠŸ¨„µ¦

ž¦³Á¤·œ„µ¦„ε„´—¼Â¨„·‹„µ¦š¸É—¸‹µ„¦µ¥Šµœ Corporate Governance Report of Thai Listed Companies ˜´ÊŠÂ˜nž¸

2556 - 2559 ÁžÈœ¦³¥³Áª¨µ 4 ž¸ ¤¸‹Îµœªœ…o°¤¼¨š´ÊŠ­·Êœ 462 …o°¤¼¨ ¤¸‹Îµœªœ…o°¤¼¨‡¦™oªœ¦ª¤ 352 …o°¤¼¨ ×¥¤¸

˜´ªÂš¸Éčoª·Á‡¦µ³®r…o°¤¼¨˜µ¤Â‹Îµ¨°Š—´Šœ¸ Ê

AFEE_{i, t} ɴ₀ ɴ₁SIZE_i,t ɴ₂COMPLEX_i,t ɴ₃CR_i,t ɴ₄CGR_i,t-1 ɴ₅OPINION_i,t-1 ɴ₆ROA_i,t ɴ₇LEVERAGE_i,t ɴ₈NAFEE_i,t ɴ₉ARL_i,t ɴ₁₀BIG4_i,t e_i,t

×¥š¸É

AFEE_i,t ‡º° ‹Îµœªœ‡nµ›¦¦¤Áœ¸¥¤„µ¦­°´¸…°Š¦·¬´š i Ĝž¸š¸É t

SIZE_i,t ‡º° …œµ—…°Š¦·¬´šª´—‡nµ‹µ„‹Îµœªœ­·œš¦´¡¥r¦ª¤…°Š¦·¬´š i Ĝž¸š¸É t COMPLEX_i,t ‡º° ‡ªµ¤Ž´Žo°œ…°Š¦·¬´šª´—‡nµ‹µ„‹Îµœªœ¦·¬´š¥n°¥…°Š¦·¬´š i Ĝž¸š¸É t

CR_i,t ‡º° ­£µ¡‡¨n°Š…°Š¦·¬´šª´—‡nµ‹µ„°´˜¦µ­nªœš»œ®¤»œÁª¸¥œ…°Š¦·¬´š i Ĝž¸š¸É t

CGR_i,t-1 ‡º° Ÿ¨ž¦³Á¤·œ„µ¦„ε„´—¼Â¨„·‹„µ¦…°Š¦·¬´š i Ĝž¸š¸É t-1 ª´—‡nµ‹µ„

- 1 šœ¦·¬´šš¸Éŗo¦´Ÿ¨„µ¦ž¦³Á¤·œ°¥¼nĜ¦³—´ “—¸Á¨·«w “—¸¤µ„w ¨³ “—¸”

- 0 šœ¦·¬´šš¸ÉŤnŗo¦´Ÿ¨„µ¦ž¦³Á¤·œ°¥¼nĜ¦³—´ “—¸Á¨·«” “—¸¤µ„” ¨³ “—¸”

OPINION_i,t-1 ‡º° ¦¼žÂ…°Š¦µ¥ŠµœŸ¼o­°´¸…°Š¦·¬´š i Ĝž¸š¸É t-1 ª´—‡nµ‹µ„

- 1 šœ¦¼žÂ¦µ¥ŠµœŸ¼o­°´¸…°Š¦·¬´šÂÅ¤n¤¸ÁŠºÉ°œÅ… ®¦º°Å¤n¤¸ÁŠºÉ°œÅ…˜n¤¸ª¦¦‡Áœoœ

- 0 šœ¦¼žÂ¦µ¥ŠµœŸ¼o­°´¸…°Š¦·¬´šÂ¤¸ÁŠºÉ°œÅ… Â­—Š‡ªµ¤Á®Èœ

¨³Å¤n­—Š‡ªµ¤Á®Èœ

ROA_i,t ‡º° ‡ªµ¤­µ¤µ¦™Äœ„µ¦šÎµ„εŦ…°Š¦·¬´šª´—‡nµ‹µ„°´˜¦µŸ¨˜°Âšœ („εŦ­»š›·) ˜n°

­·œš¦´¡¥r…°Š¦·¬´š i Ĝž¸š¸É t

LEVERAGE_i,t ‡º° ‡ªµ¤Á­¸É¥Š…°Š¦·¬´šª´—‡nµ‹µ„°´˜¦µ­nªœ®œ¸ Ê­·œ¦ª¤˜n°­nªœ…°ŠŸ¼o™º°®»oœ¦ª¤…°Š

¦·¬´š i Ĝž¸š¸É t

NAFEE_i,t ‡º° ­´—­nªœ‡nµ¦·„µ¦š¸Éœ°„Á®œº°‹µ„„µ¦­°´¸…°Š¦·¬´šª´—‡nµ‹µ„‡nµ¦·„µ¦°ºÉœš¸É œ°„Á®œº°‹µ„„µ¦­°´¸˜n°‡nµ›¦¦¤Áœ¸¥¤„µ¦­°´¸…°Š¦·¬´š i Ĝž¸š¸É t

ARL_i,t ‡º° ¦³¥³Áª¨µš¸ÉčoĜ„µ¦°°„¦µ¥Šµœ„µ¦­°´¸…°Š¦·¬´šª´—‡nµ‹µ„¦³¥³®nµŠ¦³®ªnµŠ

ª´œš¸ÉĜ¦µ¥Šµœ…°ŠŸ¼o­°´¸„´ª´œš¸ÉĜŠ„µ¦ÁŠ·œ…°Š¦·¬´š i Ĝž¸š¸É t BIG4_i,t ‡º° ž¦³Á£š…°Š­Îµœ´„Šµœ­°´¸…°Š¦·¬´š i Ĝž¸š¸É t ª´—‡nµ‹µ„

- 1 šœ¦·¬´šš¸Éčo¦·„µ¦„µ¦˜¦ª‹­°´¸‹µ„­Îµœ´„Šµœ­°´¸Äœ„¨»n¤ Big4

- 0 šœ¦·¬´šš¸ÉŤnčo¦·„µ¦„µ¦˜¦ª‹­°´¸‹µ„­Îµœ´„Šµœ­°´¸Äœ„¨»n¤ Big4 e_i,t ‡º° ‡nµ‡ªµ¤‡¨µ—Á‡¨ºÉ°œ

i ‡º° ¦·¬´š‹—š³Á¸¥œÄœ˜¨µ—®¨´„š¦´¡¥rÁ°È¤ Á° Å° š¸Éčo«¹„¬µ

t ‡º° ž¸š¸É˜o°Š„µ¦«¹„¬µ ¡.«. 2556 ¡.«. 2557 ¡.«. 2558 ¨³ ¡.«. 2559

4. Ÿ¨„µ¦ª·‹´¥

„µ¦«¹„¬µœ¸ Êčo„µ¦ª·Á‡¦µ³®rÁ·Š¡¦¦–œµ (Descriptive Analysis) Á¡ºÉ°ÁžÈœ„µ¦°›·µ¥™¹Š¨´„¬–³Áº Ê°Š˜oœ…°Š

˜´ªÂž¦ °´œÅ—o„n ‡nµÁŒ¨¸É¥ (Mean) ‡nµ¤´›¥“µœ (Median) ‡nµ­¼Š­»— (Maximum) ‡nµ˜Îɵ­»— (Minimum) ¨³‡nµÁ¸É¥ŠÁœ

¤µ˜¦“µœ (Standard Deviation) ¨³„µ¦ª·Á‡¦µ³®r­¤„µ¦™—™°¥Â¡®»‡¼– (Multiple Regression Analysis) Á¡ºÉ°

¡·‹µ¦–µ™¹Š‡ªµ¤­´¤¡´œ›r…°Š˜´ªÂž¦˜µ¤Â¨³˜´ªÂž¦°·­¦³Â˜n¨³˜´ª ×¥Ÿ¨„µ¦ª·Á‡¦µ³®rÁ·Š¡¦¦–œµÁžÈœ—´Š˜µ¦µŠš¸É 1

˜µ¦µŠš¸É 1 ­—Š­™·˜·„µ¦ª·Á‡¦µ³®rÁ·Š¡¦¦–œµ…°Š˜´ªÂž¦Á·Šž¦·¤µ–£µ¡¦ª¤˜´ÊŠÂ˜nž¸ 2556 - 2559

˜´ªÂž¦ Mean Median Minimum Maximum Std. Deviation

AFEE_i,t 1.53 1.20 0.44 6.40 0.92

SIZE_i,t 13.87 9.68 1.50 132.32 15.33

COMPLEX_i,t 3.06 2.00 0.00 26.00 4.27

CR_i,t 3.35 1.68 0.13 90.05 6.71

ROA_i,t 6.21 3.87 -85.87 805.96 45.75

LEVERAGE_i,t 1.62 0.71 0.03 199.54 10.67

NAFEE_i,t 3.20 0.00 0.00 129.95 11.62

ARL_i,t 54.50 55.00 35.00 96.00 6.18

‹µ„˜µ¦µŠš¸É 1 Á¤ºÉ°¡·‹µ¦–µ‹Îµœªœ‡nµ›¦¦¤Áœ¸¥¤„µ¦­°´¸ (AFEE_i,t) …°Š¦·¬´š‹—š³Á¸¥œÄœ˜¨µ—

®¨´„š¦´¡¥rÁ°È¤ Á° Å° š¸É«¹„¬µš´ÊŠ®¤—‹Îµœªœ 352 …o°¤¼¨Äœ¦³®ªnµŠž¸ 2556 - 2559 ¡ªnµ‡nµ›¦¦¤Áœ¸¥¤„µ¦­°´¸

¤¸‡nµÁŒ¨¸É¥°¥¼nš¸É 1.53 ¨oµœµš ×¥¤¸‡nµ¤´›¥“µœ°¥¼nš¸É 1.20 ¨oµœµš ‡nµ˜Îɵ­»—Ášnµ„´ 0.44 ¨oµœµš ‡nµ­¼Š­»—Ášnµ„´

6.40 ¨oµœµš ¨³­nªœÁ¸É¥ŠÁœ¤µ˜¦“µœÁšnµ„´ 0.92 ¨oµœµš Ž¹ÉŠÂ­—ŠÄ®oÁ®ÈœÅ—oªnµ‡nµ›¦¦¤Áœ¸¥¤„µ¦­°´¸š¸É¤¸

‡nµÂ˜„˜nµŠ„´œ

Á¡ºÉ°¡·‹µ¦–µÂœªÃœo¤‡nµ›¦¦¤Áœ¸¥¤„µ¦­°´¸…°Š¦·¬´š (AFEE_i,t) „µ¦«¹„¬µœ¸ ʋ¹ŠœÎµ…o°¤¼¨¦·¬´š‹—

š³Á¸¥œÄœ˜¨µ—®¨´„š¦´¡¥r Á°È¤ Á° Å° š¸É¤¸…o°¤¼¨‡nµ›¦¦¤Áœ¸¥¤„µ¦­°´¸…°Š¦·¬´š (AFEE_i,t) ‡¦š´ÊŠ 4 ž¸ ¤µ

¡·‹µ¦–µÃ—¥Äo„µ¦Â‹„‹Š‡ªµ¤™¸É (Frequency Distribution) Á¡ºÉ°Ä®oš¦µ‹Îµœªœ¦·¬´š‹—š³Á¸¥œš¸É¤¸„µ¦ž¦´

‡nµ›¦¦¤Áœ¸¥¤„µ¦­°´¸Á¡·É¤…¹Êœ Ž¹ÉŠÂ­—ŠÅªoĜ˜µ¦µŠš¸É 2

˜µ¦µŠš¸É 2 „µ¦Â‹„‹Š‡ªµ¤™¸ÉĜ„µ¦ž¦´Á¡·É¤…°Š‡nµ›¦¦¤Áœ¸¥¤„µ¦­°´¸…°Š¦·¬´š (AFEE_i,t) ž¸ 2556 - 2559

„µ¦ž¦´°´˜¦µ‡nµ›¦¦¤Áœ¸¥¤„µ¦­°´¸Á¡·É¤…¹Êœ ‡ªµ¤™¸É ¦o°¥¨³

ž¦´š»„ Ç ž¸ (4 ‡¦´ÊŠ)

ž¦´ 3 ‡¦´ÊŠ

ž¦´ 2 ‡¦´ÊŠ

ž¦´ 1 ‡¦´ÊŠ

40 19 11 0

57.14 27.14 15.72 0.00

¦ª¤ 70 100

®¤µ¥Á®˜» : ¦·¬´š‹—š³Á¸¥œÄœ˜¨µ—®¨´„š¦´¡¥r Á°È¤ Á° Å° š¸É¤¸…o°¤¼¨‡¦ 4 ž¸ (¡.«. 2556 - 2559)

‹µ„˜µ¦µŠš¸É 2 ¡ªnµ ‡nµ›¦¦¤Áœ¸¥¤„µ¦­°´¸…°Š¦·¬´š‹—š³Á¸¥œÄœ˜¨µ—®¨´„š¦´¡¥rÁ°È¤ Á° Å°

­nªœÄ®n¤¸„µ¦ž¦´Á¡·É¤…¹Êœš»„ž¸ (4 ‡¦´ÊŠ) ‡·—ÁžÈœ¦o°¥¨³ 57.14 ¦°Š¨Š¤µ ‡º° ‡nµ›¦¦¤Áœ¸¥¤„µ¦­°´¸…°Š¦·¬´š

‹—š³Á¸¥œÄœ˜¨µ—®¨´„š¦´¡¥rÁ°È¤ Á° Å° ¤¸„µ¦ž¦´Á¡·É¤…¹Êœ 3 ‡¦´ÊŠÄœ¦° 4 ž¸ ‡·—ÁžÈœ¦o°¥¨³ 27.14 ‡nµ›¦¦¤Áœ¸¥¤

„µ¦­°´¸¤¸„µ¦ž¦´Á¡·É¤…¹Êœ 2 ‡¦´ÊŠÄœ¦° 4 ž¸ ‡·—ÁžÈœ¦o°¥¨³ 15.72

˜µ¦µŠš¸É 3 ­—Š„µ¦Â‹„‹Š‡ªµ¤™¸É…°Š˜´ªÂž¦ Dummy Variables

˜´ªÂž¦ ‡ªµ¤™¸É ¦o°¥¨³

CGR_i,t-1 1

CGR_i,t-1 0

201 151

57.10 42.90 OPINION_i,t-1 1

OPINION_i,t-1 0

343 9

97.44 2.56 BIG4_i,t 1

BIG4_i,t 0

140 212

39.77 60.23

®¤µ¥Á®˜» : …o°¤¼¨š¸ÉčoĜ„µ¦«¹„¬µ°¥¼nĜnªŠ¦³®ªnµŠž¸ 2556 - 2559 ‹Îµœªœš´ÊŠ®¤— 352 …o°¤¼¨

‹µ„˜µ¦µŠš¸É 3 Á¤ºÉ°¡·‹µ¦–µŸ¨ž¦³Á¤·œ„µ¦„ε„´—¼Â¨„·‹„µ¦š¸É—¸…°Š¦·¬´š (CGR_i,t-1) ¡ªnµ ¦·¬´š‹—š³Á¸¥œ

Ĝ˜¨µ—®¨´„š¦´¡¥rÁ°È¤ Á° Å° Ĝž¸ 2556 - 2559 ­nªœÄ®nŗo¦´Ÿ¨„µ¦ž¦³Á¤·œ°¥¼nĜ¦³—´ “—¸Á¨·«” “—¸¤µ„” ¨³ “—¸”

°¥¼nš¸É¦o°¥¨³ 57.10 …°Š¦·¬´š‹—š³Á¸¥œÄœ˜¨µ—®¨´„š¦´¡¥rÁ°È¤ Á° Å° ŗo¦´Ÿ¨„µ¦ž¦³Á¤·œ„µ¦„ε„´—¼Â¨„·‹„µ¦š¸É—¸

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¦·¬´š‹—š³Á¸¥œÄœ˜¨µ—®¨´„š¦´¡¥rÁ°È¤ Á° Å° ­nªœÄ®n¦o°¥¨³ 97.44 ŗo¦´¦¼žÂ¦µ¥ŠµœŸ¼o­°´¸ž¸„n°œÁžÈœ

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¦·¬´š (COMPLEX_i,t) ­´—­nªœ‡nµ¦·„µ¦°ºÉœš¸Éœ°„Á®œº°‹µ„„µ¦­°´¸ (NAFEE_i,t) ¦³¥³Áª¨µš¸ÉčoĜ„µ¦°°„¦µ¥Šµœ

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Pearson Correlations

AFEE SIZE COMPLEX CR CGR OPINION ROA LEVERAGE NAFEE ARL BIG4 AFEE 1 0.433** 0.587** -0.016 0.045 -0.048 -0.098 0.005 0.179** 0.173** 0.285**

SIZE 1 0.384** -0.047 0.159** -0.005 -0.049 0.028 0.060 0.096 0.124*

COMPLEX 1 0.007 0.028 -0.048 -0.094 -0.031 0.029 0.067 0.091

CR 1 0.015 0.000 0.034 -0.049 -0.015 -0.024 -0.001

CGR 1 0.114* 0.061 -0.060 0.100 -0.100 0.048 OPINION 1 0.029 0.013 -0.028 -0.276** 0.095 ROA 1 -0.081 -0.018 -0.027 0.043

LEVERAGE 1 0.062 0.036 -0.052

NAFEE 1 0.040 0.132*

ARL 1 -0.081

BIG4 1

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Multicollinearity ®¦º°ž´®µÄœÁ¦ºÉ°Š…°Š‡ªµ¤­´¤¡´œ›r„´œ¦³®ªnµŠ˜´ªÂž¦°·­¦³š¸ÉčoĜ„µ¦«¹„¬µ°¸„—oª¥ š´ÊŠœ¸ Ê Ÿ¼o«¹„¬µÅ—o

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˜µ¤ÁŠºÉ°œÅ……°Š„µ¦ª·Á‡¦µ³®r­¤„µ¦™—™°¥

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˜´ªÂž¦ Tolerance VIF Coefficient t-Statistic Prob.

(t-Statistic)

(Constant) -0.1667 -0.3532 0.7242

SIZE_i,t 0.810 1.235 0.0121 2.4524 0.0147 *

COMPLEX_i,t 0.839 1.192 0.1014 7.8721 0.0000 **

CR_i,t 0.993 1.007 -0.0003 -0.0539 0.9571

CGR_i,t-1 0.935 1.069 -0.0103 -0.1446 0.8851

OPINION_i,t-1 0.907 1.102 -0.0202 -0.1067 0.9151

ROA_i,t 0.977 1.024 -0.0009 -1.5941 0.1118

LEVERAGE_i,t 0.976 1.025 0.0008 0.5780 0.5636 NAFEE_i,t 0.962 1.039 0.0093 1.4033 0.1614

ARL_i,t 0.900 1.111 0.0194 2.7593 0.0061 **

BIG4_i,t 0.945 1.058 0.4017 4.8316 0.0000 **

Durbin-Watson 1.9424

R-squared 0.4757

Adjusted R-squared 0.4603

F - statistic 30.9397

Prob (F - statistic) 0.0000

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¤®µª·š¥µ¨´¥Á„¬˜¦«µ­˜¦r).

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´¸ ¡.«. 2553. ‡oœÁ¤ºÉ° 25 ¤·™»œµ¥œ 2559, ‹µ„ http://www.fap.or.th

­£µª·µ¸¡´¸Äœ¡¦³¦¤¦µ¼ž™´¤£r. (2555). ¤µ˜¦“µœ„µ¦­°´¸¦®´­ 200 Á¦ºÉ°Šª´˜™»ž¦³­Š‡r¨³®¨´„„µ¦

¡ºÊœ“µœ…°Š„µ¦­°´¸. ‡oœÁ¤ºÉ° 25 ¤·™»œµ¥œ 2559, ‹µ„ http://www.fap.or.th

­»ª—¸ ­´˜¥µ¦´„¬rª·š¥r ¨³°´¨¸ ¡·¡´•œÁ­¦·. (2555). ‡ªµ¤­´¤¡´œ›r¦³®ªnµŠ„µ¦„ε„´—¼Â¨„·‹„µ¦„´¦³¥³Áª¨µš¸Éčo Ĝ„µ¦°°„¦µ¥Šµœ„µ¦­°´¸. ªµ¦­µ¦ª·µ¸¡´¸. 8(22), 65-81.

­Îµœ´„Šµœ‡–³„¦¦¤„µ¦„ε„´®¨´„š¦´¡¥r¨³˜¨µ—®¨´„š¦´¡¥r. (2555). …o°­´ŠÁ„˜š¸É¡‹µ„„µ¦˜¦ª‹¦³„µ¦‡ª‡»¤

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­Îµœ´„Šµœ‡–³„¦¦¤„µ¦„ε„´®¨´„š¦´¡¥r¨³˜¨µ—®¨´„š¦´¡¥r. (2559). …o°¤¼¨Š„µ¦ÁŠ·œ…°Š¦·¬´šÄœ˜¨µ—®¨´„š¦´¡¥r Ś¥. ‡oœÁ¤ºÉ° 25 ¤·™»œµ¥œ 2559, ‹µ„ www.sec.or.th

­Îµœ´„Šµœ‡–³„¦¦¤„µ¦„ε„´®¨´„š¦´¡¥r¨³˜¨µ—®¨´„š¦´¡¥r. (2559). ‡»–­¤´˜·…°ŠŸ¼o­°´¸š¸Éŗo¦´‡ªµ¤

Á®Èœ°. ‡oœÁ¤ºÉ° 4 „´œ¥µ¥œ 2560, ‹µ„ www.sec.or.th

­Îµœ´„Šµœ‡–³„¦¦¤„µ¦„ε„´®¨´„š¦´¡¥r¨³˜¨µ—®¨´„š¦´¡¥r. (2559). ˜µ¦µŠž¦³Á£šÂ¨³¦³¥³Áª¨µ­nŠ¦µ¥Šµœš¸É ­—Š“µœ³„µ¦ÁŠ·œÂ¨³Ÿ¨„µ¦—εÁœ·œŠµœ. ‡oœÁ¤ºÉ° 4 „´œ¥µ¥œ 2560, ‹µ„ www.sec.or.th

®¨´„Á„–”r„µ¦­Îµ¦ª‹Ã‡¦Š„µ¦­Îµ¦ª‹„µ¦„ε„´—¼Â¨„·‹„µ¦¦·¬´š‹—š³Á¸¥œÅš¥. (2559). ‡oœÁ¤ºÉ° 25 ¤·™»œµ¥œ 2559,

‹µ„ www.thai-iod.com

°´Š‡–µ ªµœœšrªŠ«r. (2553). ‡ªµ¤­´¤¡´œ›r¦³®ªnµŠ‡»–¨´„¬–³…°Š„¦¦¤„µ¦¦·¬´š„´‡nµ­°´¸. („µ¦‡oœ‡ªoµÂ

°·­¦³ ´¸¤®µ´–”·˜ ¤®µª·š¥µ¨´¥›¦¦¤«µ­˜¦r).

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