Dr. Ekkachai Saenyasiri - Providence College
Dr. Ekkachai Saenyasiri - Providence College
Dr. Ekkachai Saenyasiri - Providence College
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<strong>Dr</strong>. <strong>Ekkachai</strong> <strong>Saenyasiri</strong><br />
<strong>Providence</strong> <strong>College</strong><br />
Finance<br />
(401) 865-2663<br />
Email: esaenyas@providence.edu<br />
Education<br />
Ph D, The Graduate Center/City University of New York, 2008.<br />
Major: Finance<br />
Dissertation Title: Essays on Analyst Behavior<br />
MBA, Weatherhead School of Management/Case Western Reserve University, 2002.<br />
Major: Finance<br />
Bachelor of Engineering, Chulalongkorn University, 1998.<br />
Major: Industrial Engineering<br />
Professional Positions<br />
Academic<br />
Assistant Professor of Finance, <strong>Providence</strong> <strong>College</strong>. (September 1, 2009 - Present).<br />
Teach Finance courses, conduct academic research, serve as a student advisor, and provide<br />
services to the college (e.g., committee work).<br />
Instructor, Baruch <strong>College</strong>. (May 15, 2011 - May 22, 2011).<br />
Teach in the Executive MS in Finance Program in Taipei, Taiwan.<br />
Visiting Assistant Professor of Finance, Arizona State University. (August 11, 2008 - May 31,<br />
2009).<br />
Teach Finance courses and conduct academic research.<br />
Adjunct Faculty/Substitute Instructor, Baruch <strong>College</strong>. (September 1, 2004 - May 25, 2008).<br />
Teach Finance courses and conduct academic research.<br />
Professional Memberships<br />
The American Finance Association. (January 3, 2008 - Present).<br />
The Financial Management Association International. (October 11, 2006 - Present).<br />
Development Activities Attended<br />
Workshop, "Designing Courses for Significant Learning (<strong>Dr</strong>. Virginia S. Lee)," <strong>Providence</strong> School<br />
of Business. (January 13, 2010 - January 14, 2010).<br />
Teaching Experience<br />
TEACHING<br />
<strong>Providence</strong> <strong>College</strong><br />
FIN 207, Managerial Finance I, 1 course.<br />
FIN 218, Financial Markets/Institutions, 5 courses.<br />
Report Generated on May 2, 2012 Page 1 of 4
FIN 317, Investments, 6 courses.<br />
FIN 450, Finance Internship, 3 courses.<br />
FIN 480, Seminar in Finance, 1 course.<br />
MBA 532, Intro Financial Concepts, 2 courses.<br />
Directed Student Learning<br />
Internship Advisor. Alexander D Tweel. (September 6, 2011 - December 9, 2011). Advised: 1.<br />
Internship Advisor. Jacqueline Kaplove. (September 6, 2011 - December 9, 2011). Advised: 1.<br />
Internship Advisor. Noel Graydon. (September 6, 2011 - December 9, 2011). Advised: 1.<br />
Internship Advisor. Sean Curtis. (September 13, 2010 - December 10, 2010). Advised: 1.<br />
Internship Advisor. Christopher Khoudary. (September 13, 2010 - December 10, 2010). Advised:<br />
1.<br />
Internship Advisor. Joseph O'Shea. (February 18, 2010 - April 30, 2010). Advised: 1.<br />
Published Intellectual Contributions<br />
Refereed Journal Articles<br />
RESEARCH<br />
<strong>Saenyasiri</strong>, E., Hovakimian, A. (2010). Conflicts of Interest and Analyst Behavior: Evidence from<br />
Recent Changes in Regulation. Financial Analysts Journal, 66(4), 12.<br />
www.cfapubs.org/toc/faj/2010/66/4<br />
<strong>Saenyasiri</strong>, E., Hovakimian, A. U.S. Analyst Regulation and the Earnings Forecast Bias around<br />
the World. European Financial Management, Forthcoming<br />
Presentations Given<br />
<strong>Saenyasiri</strong>, E. (Presenter & Author), PCSB Research Seminar, "Profitability of Trading around<br />
Earnings Forecast Revisions and Institutional Investors' Trading Behavior," <strong>Providence</strong><br />
<strong>College</strong>. (April 8, 2011).<br />
<strong>Saenyasiri</strong>, E. (Presenter & Author), 2008 Financial Management Association Annual Meeting,<br />
"Does Affiliation Bias Analyst Long-Term Earnings Growth Forecasts?," Texas. (October 9,<br />
2008).<br />
<strong>Saenyasiri</strong>, E. (Presenter & Author), 2008 Financial Management Association Annual Meeting,<br />
"U.S. Analyst Regulation and the Earnings Forecast Bias Around the World," Texas. (October<br />
9, 2008).<br />
Media Contributions<br />
Magazine<br />
<strong>Providence</strong> <strong>College</strong> Magazine, Spring 2010. (April 2010).<br />
Newspaper<br />
Report Generated on May 2, 2012 Page 2 of 4
Compliance Reporter. (July 7, 2008).<br />
Compliance Reporter. (June 9, 2008).<br />
Research in Progress<br />
"Credit Default Swap Price Reaction to Adverse Corporate News: The Case of Dividend Cuts"<br />
(On-Going)<br />
Empirical event study research<br />
"Does Affiliation Bias Analyst Long-Term Earnings Growth Forecasts?" (On-Going)<br />
We study long-term earnings growth (LTG) forecasts around seasoned equity offerings. We<br />
document that LTG forecasts for firms with fewer analysts are generally higher than forecasts<br />
for firms with more analysts covering the stock. In contrast to prior studies, we find no<br />
difference between LTG forecasts of affiliated analysts who work for investment banks that<br />
have relationships with equity issuing firms and those of unaffiliated analysts. Further<br />
analysis shows that aggregation bias influences the prior studies' conclusion that affiliated<br />
analysts make more optimistic LTG forecasts. Both affiliated and unaffiliated analyst<br />
forecasts are more optimistic for firms with fewer analysts. In addition, the number of<br />
unaffiliated analysts relative to the number of affiliated analysts covering the same firm<br />
increases with the firm's analyst coverage. As a result, the mean forecast bias of unaffiliated<br />
analysts turns out to be lower than the mean forecast bias of affiliated analysts. However, this<br />
observed difference in mean forecast bias is driven by analyst coverage rather than analyst<br />
affiliation.<br />
"Trading Behavior of Institutional Investors and Profitability of Trading around Earnings Forecast<br />
Revisions" (On-Going)<br />
The purposes of this paper are to examine trading behavior of institutional investors around<br />
analyst forecast revisions, and to examine the impact of recent regulations on both price<br />
discovery process and trading behavior of institutional investors.<br />
Department Service<br />
SERVICE<br />
Attendee, Meeting, Finance Department. (August 12, 2009 - Present).<br />
<strong>College</strong> Service<br />
Committee Member, Graduate Committee. (October 1, 2009 - Present).<br />
Attendee, Meeting, PCSB Faculty Meeting. (September 23, 2009 - Present).<br />
Assessor, AOL: Assessor. (December 15, 2011 - January 17, 2012).<br />
University Service<br />
Being interviewed for an article published in the magazine, Participate and help in the cover story<br />
for the Spring 2010 issue of <strong>Providence</strong> <strong>College</strong> Magazine. (February 22, 2010 - March 15,<br />
2010).<br />
Professional Service<br />
Report Generated on May 2, 2012 Page 3 of 4
Reviewer, Ad Hoc Reviewer, Financial Analysts Journal. (September 11, 2011 - September 30,<br />
2011).<br />
Attendee, Meeting, 2010 FMA Annual Meeting, New York, New York. (October 21, 2010 -<br />
October 22, 2010).<br />
Attendee, Meeting, 2009 AFA Annual Meeting, San Francisco, CA. (January 3, 2009 - January 5,<br />
2009).<br />
Reviewer, Ad Hoc Reviewer, Journal of Economics and Business. (October 13, 2008 - December<br />
13, 2008).<br />
Attendee, Meeting, 2008 FMA Annual Meeting, Grapevine, Texas. (October 9, 2008 - October 11,<br />
2008).<br />
Session Chair, 2008 FMA Annual Meeting, Grapevine, Texas. (October 9, 2008).<br />
Attendee, Meeting, 2008 AFA Annual Meeting, New Orleans, LA. (January 4, 2008 - January 6,<br />
2008).<br />
Attendee, Meeting, 2007 FMA Annual Meeting, Orlando, Florida. (October 18, 2007 - October 20,<br />
2007).<br />
Attendee, Meeting, 2006 FMA Annual Meeting, Salt Lake City, Utah. (October 12, 2006 - October<br />
14, 2006).<br />
Report Generated on May 2, 2012 Page 4 of 4
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