Bangkok, October 24, 2014 ? The SEC and the Faculty of Business Administration, National Institute of Development Administration (NIDA) co-organized the ?4th SEC Working Papers Forum,? under the theme ?New perspectives for financial market development and sustainability of the Thai economy.?

Dr. Vorapol Socatiyanurak, SEC Secretary-General said that the 4th SEC Working Papers Forum, under the theme ?New perspectives for financial market development and sustainability of the Thai economy,? jointly organized by the SEC and the Faculty of Business Administration of NIDA, presenting the ideas that the increase in stock price or index was not a key indicator of the capital market growth, while strong corporate governance (CG) of listed companies was found to be a key factor on well-protected investments against an adverse market climate. In addition, new perspective in enhancing business competitiveness by improving financial and capital market environments was crucial for capacity building of Thai economy in the long run.

Dr. Jitipol Puksamatanan, researcher, Faculty of Business Administration, NIDA said that the result of study illustrated differences in risks and returns based on CG levels of listed companies.   Having strong CG could help lessen risk exposures, not specifically for market risk, as well as contribute to higher returns; in particular, less price fluctuation during economic crisis. However, in promoting high CG standard among listed companies, real benefits and burden costs should be taken into account.

Asst. Prof. Pradit Withisuphakorn, researcher, Faculty of Business Administration, NIDA said that the findings indicated that the present theory on economic development direction with focus on financial decision making based on risks and returns might not result in the country?s sustainable development. Hence,  a ?CHANGE? was recommended along with adjustment of goal setting with new perspective of processes to reach such goal. This will certainly facilitate financial sector and the SEC to play crucial roles in driving all aspects to achieve ?Sustainable Development,? including establishment of environmental sustainability, business competitiveness and long-term economic sustainability.

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Note: The research paper was presented under the Memorandum of Understanding between the SEC and Chulalongkorn University, Thammasat University, Kasetsart University and National Institute of Development Administration, the leading business schools, aiming to publicize researches and exchange of knowledge and experience between academics and capital market industry.