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

See all articles by Chinnapat Kanthapanit

Chinnapat Kanthapanit

Faculty of Accounting and Management, Mahasarakham University

Anona Fern Armstrong

Victoria University

John Tippet

Victoria University - Department of Applied Economics

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

Kanthapanit, Chinnapat and Armstrong, Anona Fern and Tippet, John, Determinants of Minority Shareholder Rights in the Thai Banking Sector (March 1, 2011). World Review of Business Research, Vol. 1, No. 1, pp. 90-102, March 2011, Available at SSRN: https://ssrn.com/abstract=1967480

Chinnapat Kanthapanit (Contact Author)

Faculty of Accounting and Management, Mahasarakham University ( email )

Kantarawichai
Mahasarakham, 44150
Thailand

Anona Fern Armstrong

Victoria University ( email )

P.O. Box 600
Wellington, 6140
New Zealand

John Tippet

Victoria University - Department of Applied Economics ( email )

Melbourne City, Victoria 8001
Australia
+61 3 921-68228 (Phone)

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