Key Points

·The Capital Market Research Scholarship Project, a collaboration between academia and Thai capital market experts, has run for over 12 years.

·15 academic institutions submitted 26 research proposals, with 5 winning awards.

·The Stock Exchange of Thailand (SET) aims to advance Thailand’s capital market through its annual research funding initiative, offering grants and Best Paper Awards to students. This fosters new researchers and bridges academia with real-world capital market practices.

Details
Mr. Asadej Kongsiri, Director and Managing Director of the Stock Exchange of Thailand, stated that SET has promoted knowledge-building in the capital market by supporting high-quality research for over 12 years. The project’s structure and research themes have evolved to align with developments in the capital market over time.

“This project represents a collaboration between academia and the capital market sector, combining insights and expertise to produce actionable research. Participation from institutions has grown annually, reflecting broader interest in advancing capital market research. New analytical tools have enabled more diverse forecasting perspectives, while sustainability-focused research has surged, aligning with global trends in sustainability disclosure,” said Mr. Asadej.

This year, 15 institutions submitted 26 research proposals across three tracks: Market Quality, ESG, and Technology & Interdisciplinary. Three papers received Best Paper Awards:

1.Market Quality Track: Ms. Thanyarat Limwattanakun (Chulalongkorn University) – “Does Observability of Downgrade Risk Matter for Corporate Investment?”

2.ESG Track: Mr. Sarut Tanmeesuk (National Institute of Development Administration/NIDA) – “Linking Public ESG Disclosure to Financial Performance and Stock Returns: A Hybrid Analysis of Thailand's SET100”

3.Technology & Interdisciplinary Track: Mr. Thanakorn Khosavanichakul (NIDA) – “NLP-Driven Analysis of News and Public Statements for Corporate Bond Default Risk Assessment in Thailand”

Additionally, SET awarded two Young Rising Star Awards to outstanding undergraduate researchers. All awarded papers can be viewed at: SET Research Scholarship Project 2024-2025.

Project Background
Launched in 2010, the SET Research Scholarship Project partners with academia, government, and industry experts to judge submissions. This network fosters knowledge exchange between scholars and practitioners, enhancing research quality and applicability in Thailand’s capital market.