Determinants of Minority Shareholder Rights in the Thai Banking Sector
World Review of Business Research, Vol. 1, No. 1, pp. 90-102, March 2011
13 Pages Posted: 3 Dec 2011
Date Written: March 1, 2011
Abstract
This paper describes the results of a study supported by the Thai Stock Exchange, that examined the relationship of five factors, family ownership, legal protection for investors, corporate governance practice of shareholder rights, cash flow and bank performance, to minority shareholder rights in the Thai public banking sector. The data for this study was obtained from annual reports and a survey of investors in Thai listed banks. The analyses used a multiple regression model to determine which factors enhanced and which inhibited the protection of minority shareholder rights. The findings of this study found evidence in the Thai commercial banks sector that minority shareholder rights expropriation were associated with family ownership and poor corporate governance practices. The conclusion from the study is that one way of improving the management of minority shareholder rights is to develop new corporate governance practices criteria which are more closely linked with bank performance.
Keywords: Bank, Corporate Governance, Minority shareholder rights
JEL Classification: G21, G30, G34
Suggested Citation: Suggested Citation
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