Professor Sirimon Treepongkaruna Honored with Three Capital Market Research Awards

Professor Sirimon Treepongkaruna, Ph.D., Emeritus Professor at The University of Western Australia Business School and Sasin Senior Research Fellow & Core Faculty, has been honored with three awards for three separate research papers: the Capital Market Research Award 2026 in Bond Market, organized by The Thai Bond Market Association (ThaiBMA) and the Capital Market Development Fund (CMDF); and the Capital Market Research Award in Equity Market, organized by the Stock Exchange of Thailand (SET) and CMDF. In the Bond Market category, Professor Sirimon received the Runner-Up Award for her paper “Implication of Mandatory Trading Report: Evidence from the Thai Bond Market,” co-authored with Dr. Tanakorn Likitapiwat, Associate Professor from Chulalongkorn Business School, Chulalongkorn University, and Dr. Worapree Maneesoonthorn, Associate Professor from Monash University, Department of Econometrics and Business Statistics. In the Equity category, she was recognized with the Outstanding Paper Award for “Revisiting ESG as a Risk Factor: Evidence from ASEAN Stock Exchanges,” co-authored with Assistant Professor Dr. Suntharee Lhaopadchan, Assistant Professor Dr. Pornprom Prompes, both from the Faculty of Management Sciences, Kasetsart University, and Kittima Ngamvilaikorn from the Faculty of Liberal Arts and Management Science, Kasetsart University; Emeritus Professor Dr. Allan Hodgson from UQ Business School, University of Queensland. Professor Sirimon also received the Runner-Up Award for the research paper “Director Remuneration and the Gender Pay Gap in Family and Non-Family Listed Companies in Thailand,” co-authored with Assistant Professor Dr. Suntharee Lhaopadchan. Together, the three studies offer valuable insights into market transparency, ESG investing, and gender equality in corporate governance, advancing scholarship with meaningful implications for the capital markets of Thailand and the broader ASEAN region. Implication of Mandatory Trading Report: Evidence from the Thai Bond Market (Runner-Up Award – Bond Market category) Drawing on more than 745,000 Thai government bond transactions from 2002 to 2019, this published paper demonstrates the power of timely market disclosure. It finds that mandatory post-trade reporting and stronger regulatory enforcement improved market liquidity and sharply reduced extreme price movements. The study offers compelling evidence that even modest improvements in reporting timeliness can strengthen investor confidence, enhance market stability, and potentially lower the cost of capital across emerging bond markets. Revisiting ESG as a Risk Factor: Evidence from ASEAN Stock Exchanges (Outstanding Paper Award, Capital Market Research Award – Equity Market category) This paper examines whether ESG performance influences stock returns across six ASEAN equity markets. Using data from 2012 to 2022 and ESG ratings from three major providers, the study finds that ESG does not consistently function as a standalone risk factor. However, ESG information remains relevant to return differences, portfolio construction, and investors seeking to align their investments with sustainability preferences. Director Remuneration and the Gender Pay Gap in Family and Non-Family Listed Companies in Thailand (Runner-Up Award – Equity Market category ) Examining 290 Thai listed companies, this paper highlights differences in director remuneration and gender pay gaps between family and non-family businesses. Its findings provided practical insights for companies, shareholders, and regulators seeking to promote fairer remuneration practices, greater gender equality, and stronger corporate governance. The awards were presented at the CMDF/CMRI Capital Market Research Symposium 2026 on September 9, 2026. Sasin proudly celebrates Professor Sirimon’s outstanding contributions to capital market research.