Bangkok: The Stock Exchange of Thailand (SET) has honored five research projects with awards under the Capital Market Research Grant Project 2024/2025. This initiative, ongoing for over 12 years, aims to foster applied research and cultivate new researchers, effectively bridging the gap between academic knowledge and practical business applications.
According to Thai News Agency, the award ceremony was presided over by Mr. Atsadej Kongsiri, Director and Managing Director of SET. The project represents a collaborative effort between academia and the capital market sector, facilitating the exchange of ideas and the coordination of knowledge to develop research with practical applicability. The increasing number of participating educational institutions each year underscores the growing significance of developing capital market research expertise. Recent research efforts have increasingly focused on sustainability issues, aligning with current trends in promoting sustainable development and transparency in sustainability reporting.
Mr. Soraphol Tulayasathien, Deputy Managing Director of SET, noted that the Capital Market Research Funding Project has been operational since 2010, engaging educational institutions and experts from the Thai capital market, government, and private sectors as award judges. This collaboration forms a valuable network for knowledge exchange, enhancing the quality of research to ensure its practical utility in the Thai capital market.
This year saw participation from undergraduate, master’s, and doctoral students from 15 educational institutions, submitting 26 research topics across three areas: Market Quality, ESG, and Technology-Interdisciplinary. Five research projects received awards, including three Best Paper Awards and two Young Rising Star Awards aimed at recognizing exceptional undergraduate research. These awards not only highlight the potential of the new generation but also contribute to the advancement of knowledge in the capital market.
One notable research project receiving a Best Paper Award in the ESG Track category was conducted by Mr. Soruj Tanmeesuk from the National Institute of Development Administration. His study explored the relationship between environmental, social, and governance (ESG) disclosure and the financial performance of companies listed in the SET100 group.
Associate Professor Pariyada Sukcharoensin, Dean of the Faculty of Economic Development at the National Institute of Development Administration and advisor to the awarded research, stated that the study revealed varying impacts of ESG on performance across different industries. For instance, climate disclosure positively affects the profitability of industrial product groups but poses a cost for consumer product groups. In the energy and utilities sector, energy and labor data show a strong correlation with Tobin’s Q, though there is no clear link between ESG and short-term stock returns. This suggests that Thai investors still emphasize financial fundamentals in their investment decisions.
The awarded research leverages capital market data to address pertinent questions, demonstrating readiness for immediate application in capital market development.