I teach Finance at Chulalongkorn Business School, Thailand. Sample classes are available at my YouTube channel, ajarnpai.
My research combines the empirical methods of corporate finance and asset pricing literature to investigate contemporary issues from new angles. The research portfolio includes asset pricing (second hand iPhones and cars included!), factor investing and mutual funds (performance, frictions and conflicts of interest).
My current research projects are on factor investing, spatial analytics and DeFi.
Chulalongkorn Business School
Director, MBA Program (Regular and English) July 2019 – present
Associate Professor June 2019 – present
Assistant Professor February 2017 – June 2019
Lecturer August 2014 – February 2017
Federal Reserve Bank of Chicago (USA)
Graduate Research Intern August 2012 – December 2013
Fiscal Policy Research Institute (Thailand)
Economist February 2005 – June 2006
Kellogg School of Management, Northwestern University (USA)
PhD in Finance, 2014
Dissertation: Essays in Real Estate Finance
Supervisor: Prof. Mitchell Petersen
Sasin School of Management, Chulalongkorn University (TH)
MBA in Finance and Marketing, 2008
GPA 4.0, Director’s Award
London School of Economics and Political Sciences (UK)
BSc in Economics, 2004
First Class Honours, CS McTaggart Prize and Economics Department Prize
- Charoenwong, B., Nettayanun, S., & Saengchote, K. (2021). Digesting anomalies: A q-factor approach for the Thai market. Pacific-Basin Finance Journal, 69, 101647. (SSCI, Scopus Q2 2020)
- Saengchote, K., & Charoenpanich, C. (2021). Cash flow uncertainty and IPO underpricing: Evidence from Thai REITs. Journal of Property Investment & Finance, Vol. 39 No. 6, pp. 590-608. (ESCI, Scopus Q1 2019)
- Ratanabanchuen, R., & Saengchote, K. (2021). Chasing Returns with High-Beta Stocks: Evidence from Tax-Privileged Mutual Funds in Thailand. Economics and Business Letters, 10(1), 37-44. (ESCI, Scopus Q3 2019)
- Saengchote, K., & Sthienchoak, J. (2020). Strategic participation in IPOs by affiliated mutual funds: Thai evidence. Pacific-Basin Finance Journal, 63, 101427. (SSCI, Scopus Q2 2019)
- Saengchote, K. (2020). Quantifying Real Estate Externalities: Evidence on the Whole Foods Effect. Nakhara: Journal of Environmental Design and Planning, 18, 37-46. (Scopus Q4)
- Amatachaya, S., & Saengchote, K. (2020). Organization Capital and Expected Returns in Service and Non‐Service Firms: Evidence from Thailand. International Review of Finance, 20(2), 505-513. (SSCI, Scopus Q2 2018)
- Ratanabanchuen, R., & Saengchote, K. (2020). Institutional capital allocation and equity returns: Evidence from Thai mutual funds’ holdings. Finance Research Letters, 32, 101085. (SSCI, Scopus Q2 2018)
- Sathaworawong, P., Thawesaengskulthai, N., & Saengchote, K. (2018, December). Determinant of Startups’ Fund-raising Value: Entrepreneur and Firm Characteristic. In 2018 IEEE International Conference on Industrial Engineering and Engineering Management (IEEM) (pp. 1309-1314). IEEE.
- Saengchote, K., & Nakavachara, V. (2018). Are consumers forward looking? Evidence from used iPhones. Applied Economics Letters, 25(13), 905-909. (SSCI, Scopus Q3 2018)
- Noparumpa, T., & Saengchote, K. (2017). The impact of tax rebate on used car market: Evidence from Thailand. International Review of Finance, 17(1), 147-154. (SSCI, Scopus Q3 2017)
- Saengchote, K., & Tirapat, S. (2017). What happens when we forget? The effect of removing adverse information on access to credit. Economics Letters, 151, 96-99. (SSCI, Scopus Q2 2017)
- Saengchote, K., & Wongkaew, W. S. (2017). Analysis of Relationship between Lean Inventory and Firm Performance: Evidence from the Stock Exchange of Thailand. Chulalongkorn Business Review, 39(2), 122-156. (TCI Q1)
- Saengchote, K. (2017). The low-risk anomaly: Evidence from the Thai stock market. Asian Academy of Management Journal of Accounting & Finance, 13(1). (ESCI, Scopus Q4 2017)
- Saengchote, K. (2016). Empirical asset pricing: Applications in academic research. Chulalongkorn Business Review, 38(2), 149-171. (TCI Q1)
- Nakavarachara, V. and Saengchote, K. Is Metaverse LAND a good investment? It depends on your unit of account!
- Saengchote, K. (2021). Decentralized lending and its users: Insights from Compound. presented at 4th UWA Blockchain and Cryptocurrency (2021) and to be presented at the 2022 NYU FinTech Conference.
- Saengchote, K. (2021). Where do DeFi Stablecoins Go? A Closer Look at What DeFi Composability Really Means. presented at Vietnam Symposium in Banking and Finance, 2021.
- Saengchote, K. (2021). A DeFi Bank Run: Iron Finance, IRON Stablecoin, and the Fall of TITAN.
- Saengchote, K. (2021). New Evidence on the Value Premium in Thailand.
- Saengchote, K. (2021). The Tesla Effect and the Mispricing of Special Purpose Acquisition Companies (SPACs).
- Saengchote, K., & Samphantharak, K. (2020). Delinquency Priority in Consumer Credit: Evidence from Thai Microdata (No. 135). Puey Ungphakorn Institute for Economic Research. with funding support from PIER Research Grant (2018)
- Saengchote, K. (2020). Profitability, Investment and Asset Pricing: Reconciling the Valuation and the q-Theory Approaches in the Thai Stock Market (No. 124). Puey Ungphakorn Institute for Economic Research.
- Saengchote, K. (2014). Recourse to Non-Housing Assets and Mortgage Credit Supply. Available at SSRN 2424043. part of doctoral dissertation
- Saengchote, K. (2013, October). Soft information in the subprime mortgage market. In 26th Australasian Finance and Banking Conference. part of doctoral dissertation
Classes and Trainings
- Factor Investing at SEC Symposium 2020 (1:24:30)
- Digital assets in Thailand: Insights from transaction-level exchange data at SEC Symposium 2021 (with Roongkiat Ratanabancheun, Voraprapa Nakavachara, Polpatt Vinaibodee, Pongsathon Parinyavuttichai, Thitiphong Amonthumniyom)
- Essential Finance for SMEs by SPACE
- MBA pre-course: Time Value of Money
- MBA: Private Equity and Venture Capital
- MSF: Guide to Empirical Research in Finance
- Corporate Finance Series
- Econometrics Series
- Decentralized Finance (DeFi)
- Digital Disruption of the Financial Services Sector
- Banking Business Models (Commmercial, Private, Investment)
- Portfolio Performance Evaluation
- Fundamentals of Financial Management
- Finance for Non-Finance Executives
- Financial Feasibility Analysis for Non-Finance Executives
- Financial Feasibility for Real Estate Investments
- Project Financial Management
- Working Capital Management
- M&A Strategies
Clients: PTT, Airports of Thailand, Central Group, Minor International, Gulf Energy Development, PTG Energy, Millcon Steel, Sumitomo Mitsui Banking Corporation, United Overseas Bank, Bank of Ayudhya, Kiatnakin Bank, Association of Provident Funds (AOP), XSpring Asset Management
- 2604505 Financial Strategy (MBA)
- 2604649 Venture Capital (MBA)
- 2604696 Practical Corporate Financial Modeling (MS Finance)
- 2604863 Empirical Methods in Finance (PhD Finance)
NIDA Business School
- BA8002 Fixed Income Securities and Alternative investment (MS Financial Investment and Risk Management)
- BA8009 Seminar in Finance (MS Financial Investment and Risk Management)
- BA8448 Empirical Research in Finance (PhD Business Administration)
- Industry Research non Non-Bank Financial Institutions and Title Loan Companies, a Thai bank (2020)
- Development of Industry Rating Model, a Thai bank (2019)
- Real Estate Data Analytics, Baania (2018 – present)
- Finance Expert, Urban Design and Development Center (2017 – present)
- Business Consultation, a Thai telecom company (2015)
- Consultation on Commercial Land Development Master Plan, PMCU (2014)
Proficiency in statistical and BI software
Stata, R, SAS, SQL, PowerBI
Experience with financial databases
Refinitiv Datastream, SDC Platinum, Morningstar, Bloomberg, Setsmart, CRSP, Compustat, CoreLogic Dataquick, DealScan, Mergent, TRACE
Corporate valuation, private equity (LBO, growth, venture capital), real estate valuation