Roy Kouwenberg, Ph.D., CFA


Research Area: Finance
Specializations: Finance, Investments

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Roy Kouwenberg is Professor and Director of the Ph.D. Program at Mahidol University, College of Management, in Bangkok. Roy received his Ph.D. in Finance from Erasmus University Rotterdam in the Netherlands and holds a Master’s degree in Econometrics from Erasmus. He is a CFA charterholder. Prior to joining CMMU, Roy held positions as a postdoctoral fellow at the University of British Columbia, Canada, as a quantitative researcher at AEGON Asset Management, The Netherlands, and as an assistant professor at the Asian Institute of Technology, Thailand. He is a visiting researcher at the Erasmus School of Economics, The Netherlands.

Dr. Roy’s research area is finance and investments. His main focus is on behavioral finance, especially the impact of loss aversion and ambiguity aversion on investor portfolios. He has also done extensive research on financial risk management, especially asset-liability management for pension funds and insurance firms. Since moving to Asia, Roy has also analyzed the corporate governance of listed firms in Asia.

Dr. Roy has published his work in the Journal of Financial Economics, Review of Financial Studies, and Management Science, amongst others. He is an editor of the Journal of Pension Economics and Finance. He has refereed articles for the Journal of Finance, Review of Financial Studies, American Economic Review, Econometrica, and many other leading academic journals.

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