I would like to express mymost sincere gratitudeto my committee
members: Rowland Atiase (Chair), Robert Freeman, Tom Shively, Laura Starks,
and Senyo Tse. Rowland has been an invaluable mentor to me, and has been
generous with histime and advice throughout mydoctoral studies. In addition, I
wish to acknowledge with sincere thanksto many helpful suggestions of Peggy
Weber. Also, I would like to thank First Call Corporation, and Steve Sommers in
particular, for the corporate earnings guidance data. I appreciate the financial
support of Ministry of University Affairs (Thailand) and Faculty of Commerce
and Accountancy, Thammasat University (Thailand).