 Problems of Corporate Governance Reform in ThailandDeunden Nikomborirak Chapter 11 in The Governance of East Asian Corporations, 2004, pp 216-235 from Palgrave Macmillan Abstract: Abstract Part of the Asian Financial Crisis (AFC) has been attributed to bad corporate governance. This includes reckless lending by commercial banks, risky investment by managers, expropriation of company’s funds by directors, managers or large shareholders, shady business deals and poor audits. While it would be somewhat far-fetched to attribute this crisis to bad corporate governance per se, weaknesses in governance certainly rendered the economy much more vulnerable to economic imbalances. The bubble in the real estate and property sector would not have been as large if banks, finance and securities companies had been more cautious about their lending. The Bank of Thailand and the Stock Exchange of Thailand (SET) would have been better able to implement timely corrective measures should financial accounting and auditing have properly exposed the dire financial straits most banks and companies were in. But it is moot to talk about what could have happened. What is more interesting is that all of a sudden Thailand is shouldering the cost of inherent weaknesses in its corporate governance. Keywords: Corporate Governance; Mutual Fund; Institutional Investor; Commercial Bank; Audit Committee (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-52327-2_11 Ordering information: This item can be ordered from Access Statistics for this chapter More chapters in Palgrave Macmillan Books from Palgrave Macmillan |
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