Chula & Stock Exchange of Thailand Join Forces

Chulalongkorn University and the Stock Exchange of Thailand (SET) have signed a Memorandum of Understanding (MOU) on academic cooperation to raise the standards of education, research, and human-resource development related to family businesses in Thailand. The partnership aims to create a learning ecosystem and develop programs in Family Business and Family Wealth Management at both undergraduate and graduate levels, with the goal of achieving international excellence.

The two institutions will also undertake case studies and in-depth research, while promoting good governance to strengthen the capabilities of the next generation of family-business leaders. The partnership also seeks to establish a national and international hub for developing talent in the field of family business.

The signing ceremony was held on September 21, 2026, at Chula Narumit House. Prof. Dr. Wilert Puriwat, President of Chulalongkorn University, presented his vision and outlined the direction of cooperation between the two organizations. Prof. Kitipong Urapeepatanapong, Chairman of the Stock Exchange of Thailand (SET) and a member of the Chulalongkorn University Council, discussed the origins of the partnership and delivered a special keynote address entitled “Who Will Lead Thailand’s Family Businesses Tomorrow? Building People, Advancing Knowledge, and Shaping the Future of Thai Family Businesses.” Assoc. Prof. Dr. Thiti Bovornratanaraks, Dean of the School of Integrated Sciences at Chulalongkorn University, also presented an overview of the collaboration.

This was followed by the signing of the MOU between Chulalongkorn University and the Stock Exchange of Thailand by Prof. Dr. Wilert Puriwat, President of Chulalongkorn University, and Ms. Pannawadee Ladawan Na Ayudhya, Deputy Managing Director of the Stock Exchange of Thailand, with Prof. Kitipong Urapeepatanapong, Chairman of the SET, serving as a witness.

Prof. Dr. Wilert Puriwat, President of Chulalongkorn University, said that Chulalongkorn University is committed to promoting and developing the potential of family businesses, which are an important engine of Thailand’s economy through income generation, employment, and business-sector growth. The university places particular importance on creating an ecosystem that enables family businesses to grow and pass their enterprises from one generation to the next in a strong and sustainable manner.

Developing family businesses today requires integrated knowledge from a wide range of disciplines, including business administration, accounting, economics, law, science, as well as digital technology and AI. Such knowledge can help entrepreneurs respond to changes in the business environment and build long-term competitiveness.

Chulalongkorn University is prepared to leverage the capabilities of its faculties and various academic units, together with online and lifelong-learning programs, to support SMEs and family businesses in gaining broad access to knowledge. It also aims to build strong networks and communities of family businesses, helping Thai enterprises grow, generate economic value, and expand into broader markets in the future.

Prof. Kitipong Urapeepatanapong, Chairman of the Stock Exchange of Thailand, said in his special keynote address, “Who Will Lead Thailand’s Family Businesses Tomorrow? Building People, Advancing Knowledge, and Shaping the Future of Thai Family Businesses,” that family businesses have long been an important part of Thailand’s economy, contributing to income generation, employment, and national wealth creation.

However, changes in the business environment and differences between generations have made business succession increasingly complex. Succession is no longer simply a matter of transferring a business from one generation to another. Key factors in building sustainable family businesses include fostering understanding and effective communication within the family; clearly defining the roles of owners, directors, and executives; establishing strong management systems and good governance; and continuously developing the next generation of leaders and personnel so that businesses can compete, adapt, and respond to change over the long term.

The cooperation between Chulalongkorn University and the Stock Exchange of Thailand therefore represents another important step toward bringing together academic knowledge, business-sector experience, research, and case studies relevant to the Thai context to systematically develop educational programs and learning processes.

The partnership aims to develop a new generation of business leaders, strengthen corporate governance, and build an ecosystem conducive to the growth of Thai family businesses. The ultimate goal is to enable families to pass on not only their businesses, but also their values and responsibilities from one generation to the next, while contributing to the sustainable development of the Thai economy.

Assoc. Prof. Dr. Thiti Bovornratanaraks, Dean of the School of Integrated Sciences at Chulalongkorn University, said that Chulalongkorn University and the Stock Exchange of Thailand are moving forward with academic cooperation to strengthen the capabilities of family businesses, which play an important role in Thailand’s economy, so that they can respond to change and achieve sustainable growth.

The partnership is designed to address the challenges facing family businesses, including the transition of management from one generation to the next, finance and investment, development of new-generation leaders, and the establishment of good governance and a balance among family interests, ownership, and business management.

This will be achieved by integrating knowledge from multiple disciplines, including business administration, finance, investment, economics, law, innovation, and wealth management. The collaboration will cover curriculum and learning development, research and case studies on Thai family businesses, as well as the creation of business networks and an ecosystem connecting universities, the SET, entrepreneurs, financial institutions, and partners in Thailand and abroad.

A key objective is to develop the next generation and family-business leaders so that they possess both knowledge and an understanding of business succession, governance, and responsibility toward stakeholders. The partnership also aims to create practical knowledge and networks that can be applied in the real world, enabling Thai family businesses to grow stronger and sustainably pass their values from one generation to the next.

Read more at: https://www.chula.ac.th/en/news/427313/