Family Ownership and Board Independence, Evidence from Thailand

Parichart Rachapradit ()
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Parichart Rachapradit: Naresuan University

Chapter 66 in Proceedings of the International Conference on Managing the Asian Century, 2013, pp 593-599 from Springer

Abstract: Abstract This paper examines the effects of family ownership on board structure in Thailand. Multiple regression models and univariate analysis are used. Family firms are found to have less independent directors and higher proportion of directors with excessive multiple directorships suggesting that the controlling family prefers controllable board. The results also show that in larger firms, independent directors have higher multiple directorships. Since larger boards in larger firms need more independent directors in order to fulfil the regulated minimum proportion of independent directors on board, the results suggest scarcity of qualified people for independent director positions in Thailand.

Keywords: Corporate Governance; Family Firm; Independent Director; Minority Shareholder; Board Size (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-4560-61-0_66

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DOI: 10.1007/978-981-4560-61-0_66

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