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Anirut Pisedtasalasai

อนิรุต พิเสฎฐศลาศัย
Assistant Professor

Joined : Jan/2008
Email :

Areas of Interest

Investments, portfolio management & mutual funds, derivative markets, applied time-series modeling


  • Doctor of Philosophy, Finance, University of Exeter, UK., 2002
  • M.A., Finance & Investment, University of Exeter, UK., 1998
  • M.E., Economics, Chulalongkorn University, Thailand, 1996
  • B.A., Economics, Thammasat University, Thailand, 1995

Employment History

  • Assistant Professor in Finance, Chulalongkorn University, Thailand, 2012 - Present
  • Visiting Professor, NEOMA Business School, France, 2009 - 2014
  • Lecturer, Chulalongkorn University, Thailand, 2007 - 2012
  • Senior lecturer (Assistant professor), University of Canterbury, New Zealand, 2006 - 2007
  • Lecturer, University of Canterbury, New Zealand, 2002 - 2006

Refereed Publications

  • Journal of Applied Economic Sciences, 2014, Vol. 9, No. 3, pp. 394-414, "What Drives Stock Market Development: Evidence from Investor Type": Kuwalairat, P. and Pisedtasalasai, A.
  • Chulalongkorn Business Review, 2010, 32, pp. 84-109, "Deposit Insurance Design: Review of Theory and Evidence": Pisedtasalasai, A.
  • International Research Journal of Finance and Economics, 2009, Issue 25, March, pp. 217-230, "Return and Trading Volume Transmission Mechanisms between a Super-Large Stock and General Stocks in the Market: A Case of New Zealand": Pisedtasalasai, A.
  • Asia Pacific Financial Markets, 2007, Vol.14, No. 4, pp. 277-297, "Causal and Dynamic Relationship among Stock Returns, Return Volatility and Trading Volume: Evidence from Emerging markets in South-East Asia": Pisedtasalasai, A. and Gunasekarage, A.
  • Journal of Business Finance and Accounting, 2006, Vol 33, No. 9&10, pp. 1556-1571, "Return and Volatility Spillovers between Large and Small Stocks in the UK": Anirut Pisedtasalasai (with Harris R.D.F.)
  • Journal of Emerging Market Finance, 2004, Vol. 3, No. 3, pp. 285-304, "Macroeconomic Influence on the Stock Market: Evidence from an Emerging Market in South Asia": Pisedtasalasai, A., Gunasekarage, A., and Power, D.M.

Other Publications

  • Chulalongkorn Business Review, 2016, 38, , "The Effectiveness of Financial Education on Making Investment Choices of Saving for Retirement": Ratanabanchuen, R., Budsaratragoon, P., Pisedtasalasai, A., Lhaopadchan, S., Seelajareon, R., & Asavaroungpipop, N.

Working Papers

  • "Competition, stability and financial crisis in Thai banking sector": Anirut Pisedtasalasai (with K. Rujiratpichathorn)
  • "Dynamic correlations between stock and gold returns": Anirut Pisedtasalasai


Number Name
2604332 Principle of Investment
2604481 Financial Derivatives
2604644 Investment Analysis
2604664 Strategic Portfolio Management