Cultural Effects on Corporate Governance in Thailand

Cultural Effects on Corporate Governance in Thailand
Author: Surasak Chaithanakij
Publisher:
Total Pages: 0
Release: 2007
Genre:
ISBN:

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This paper argues that balance of power is the core of all stable economic systems of which evidence can be found in European economic history. Also recent deductive studies on modern organizational economics have shown the necessity of balancing two interacting thrusts inside firms: to achieve firms' objectives and to keep their activities efficient. Both streams of evidence lead this paper to synthesize the balance of power as the core of corporate governance. This theoretical framework argues that a firm can be understood and conceptualized in several realms. Whereas the legal realm of the firm is commonly used in theoretical analysis, its narrowly characterized nexus-of-contract hinders scholars from understanding the complexity of the governance realm which can be construed as the balance of power driven by three interacting components, namely Authoritative capability, Control power and Cultural consensus. The balance of the first two components is presumably influenced by the third component. Therefore the role of Cultural consensus, consisting of trust, cultural values, social norms, social belief and ethics, is scrutinized in parallel with these components. Since a sizable portion of Thai listed companies are in practice controlled by majority shareholders and their families, these companies represent the ideal subjects for study through the lens of the Trimiti or 3Cs model. Selected proxies of the three governance components are tested against the performance indices of a sample of companies listed on the Stock Exchange of Thailand and significant relationships are found. The Trimiti model is proved to be an effective new tool of corporate governance study.

Corporate Governance in Thailand

Corporate Governance in Thailand
Author: Sakulrat Montreevat
Publisher: Institute of Southeast Asian Studies
Total Pages: 142
Release: 2006
Genre: Business & Economics
ISBN: 9812303308

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Thailand's currency crisis set off a national and regional economic meltdown in the closing years of the twentieth century. Written by Thai economists, this book gives a progress report on good corporate governance practices in listed non-financial companies, financial institutions, state-owned enterprises, and non-listed companies in Thailand.

The Changing Face of Management in Thailand

The Changing Face of Management in Thailand
Author: Tim Andrews
Publisher: Routledge
Total Pages: 352
Release: 2009-05-19
Genre: Business & Economics
ISBN: 1134068158

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In the decade following the Asian financial crisis of 1997-1998, the management of organizations in Thailand has undergone significant change and development. The Changing Face of Management in Thailand examines in-depth the development of management during this pivotal period in the country’s recent history. The book draws together an impressive assortment of scholars, consultants and practitioners, whose experience and expertise significantly enhance our knowledge and understanding of this complex, multi-faceted Asian economy. The book is divided into 3 main sections: an examination of the political, economic, social and technological changes from 1997-2008 specialist chapters that contextualise these developments from the marketing, HR and finance perspectives concluding sections focusing on public sector organizations, women managers, corporate governance, e-communication and the ‘Thailand Brand’. With a wealth of vignettes, anecdotes and illustrative quotations bringing each chapter to life, this volume offers a refreshing, updated and in-depth analysis of this rich, diverse and fascinating nation.

Corporate Governance of Listed Companies in Thailand

Corporate Governance of Listed Companies in Thailand
Author: Sakulrat Montreevat
Publisher: Institute of Southeast Asian Studies
Total Pages: 92
Release: 2006
Genre: Business & Economics
ISBN: 9812302662

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This book provides an understanding of corporate governance in the context of Thailand. It explains the background and scope of corporate governance in Thailand before and after the Asian financial crisis, and details the roles of the relevant agencies and the key elements of corporate governance for listed companies. The author reviews the assessments made by both local and international organizations and concludes by looking at the challenges ahead and offering policy recommendations for raising the level of corporate governance in Thailand.

Form Versus Substance

Form Versus Substance
Author: J. Thomas Connelly
Publisher:
Total Pages:
Release: 2009
Genre:
ISBN:

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This study examines how incentive conflicts and the quality of corporate governance practices in Thai family firms influence firm value. We hypothesize that the agency conflicts between majority and minority shareholders in Thai family-controlled and family-managed firms (Type II Agency Problem) are more serious than the incentive conflicts between insiders and shareholders in widely held and professionally managed companies (Type I Agency Problem) in Thailand. This is because of the weak protection for the rights of minority shareholders in Thailand and the opaque and poor governance practices that are facilitated by extra-contractual relationships between controlling families and directors. Supportive of our conjecture, we find that q values are significantly lower for firms with high family control and family management compared to q values for low family control and non-family managed firms. Further, we find, for our sample of Thai firms, that while conventional governance variables such as board size and independence have no association with q, a more in-depth assessment score, that better captures actual governance practices, has a positive association with q only for high family control and family-managed firms. We interpret our results to be consistent with the notion that family firms can compensate for any potential adverse impact of control on value through improvements in corporate governance practices.

Transformation of global leadership guidelines to the local context in Thailand

Transformation of global leadership guidelines to the local context in Thailand
Author: Patrick Benesch
Publisher: GRIN Verlag
Total Pages: 84
Release: 2014-10-13
Genre: Business & Economics
ISBN: 3656767130

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Bachelor Thesis from the year 2014 in the subject Business economics - Business Management, Corporate Governance, grade: 1,3, Würzburg-Schweinfurt University of Applied Sciences, language: English, abstract: Thailand is an important business hub within Southeast Asia. Global corporations that enter the Thai market are confronted by different cultural values, behaviors and expectations. This is especially challenging for leadership as corporate values and behaviors have to be transferred to the local staff. Leadership guidelines are an instrument to align the corporate leadership values to local employees. In order to be relevant in the local context, the global guidelines have to be transformed. This thesis subsequently aims to answer the question as to how global leadership guidelines can be transformed to the local context in Thailand. To answer the research question qualitatively, guided expert interviews were conducted with managers in Thailand to identify cultural implications for leadership. The material was then analyzed by content analyses and interpreted by linking it to relevant literature. The research identified several implications for the content and development of guidelines. As for the content, it became clear that the face saving-value in Thailand requires increased sensitivity for reprimanding subordinates. Leaders are required to take an interest in personal matters of subordinates. Also, they should regularly follow up with them. Furthermore, subordinates prefer guidance on how to reach goals. Another major finding is that leadership guidelines should facilitate a familial and harmonious environment. For motivating employees, it became clear that Thai staff members are motivated by social aspects and the need for esteem whereas self-actualization is less important. Taking this finding into consideration, it is proposed that guidelines for transformation be suggested accordingly. This requires introducing detailed descriptions and to rephrasing certain statements. The implementation process should be designed in a way that allows discussions without superiors being involved in order to facilitate the contribution of employees without being inhibited by hierarchy.

Corporate Governance System Of Japanese Multinational Companies: A Quantitative Evaluation

Corporate Governance System Of Japanese Multinational Companies: A Quantitative Evaluation
Author: Dipak R Basu
Publisher: World Scientific
Total Pages: 157
Release: 2019-01-16
Genre: Business & Economics
ISBN: 9813276096

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The purpose of this book is to study an unexplored area of corporate governance. The authors examine whether the corporate governance system can be affected by organizational culture, leader culture, and the operations management system in general. In addition, they study how a specific corporate governance system can affect the organizational culture and operations management system and create a different type of leader culture. This is an in-depth study of Japanese multinational companies and a comparison of their corporate governance system at home (in Japan) and in host countries like Britain, India, and Thailand.The authors conducted a series of in-depth interviews with the senior executives of major Japanese multinational companies to construct quantitative models for Japan, Thailand and India, and to analyze the aforementioned propositions.

Corporate Governance in Asia

Corporate Governance in Asia
Author: Sang-Woo Nam
Publisher:
Total Pages: 220
Release: 2004
Genre: Corporate governance
ISBN:

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Comparative Third Sector Governance in Asia

Comparative Third Sector Governance in Asia
Author: Samiul Hasan
Publisher: Springer Science & Business Media
Total Pages: 344
Release: 2008-01-08
Genre: Social Science
ISBN: 0387755675

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This book establishes new theory and knowledge in the area of third sector organizations (TSOs) in Asia. Its purpose is to draw the attention of Asia's TSOs to the importance of good governance. The book documents a variety of approaches, and identifies socio-cultural, economic, and political dynamics and impacts of different models of TSO governance. The combined information from the contributions in this work will ensure the sustainability of TSOs throughout Asia.