Family Control Business and Capital Market Development in ASEAN

Bany Ariffin Amin Noordin () and Siong Hook Law

The IUP Journal of Financial Economics, 2008, vol. VI, issue 1, 46-55

Abstract: This study examines the effect of family ownership structure on capital market development in four Association of Southeast Asian Nations (ASEAN) countries, namely, Thailand, Malaysia, Indonesia, and the Philippines using panel data analysis. The results indicate that greater family influence in the stock exchange has detrimental effect on capital market development. The results can be considered valid as three alternative capital market development indicators, namely stock market capitalization, total share value traded, and number of companies listed are used.

Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:icf:icfjfe:v:06:y:2008:i:1:p:46-55

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