Les transactions entre parties liées, spoliation des actionnaires ou mécanisme relationnel complexe, le cas de la Thaïlande

Adisak Chotitumtara and Benoit Pigé ()
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Benoit Pigé: IAE Franche Comté - Institut d'Administration des Entreprises de Franche Comté - Besançon - UFR SJEPG - UFR de Sciences juridiques, économiques, politiques et de gestion - UFC - Université de Franche-Comté - UBFC - Université Bourgogne Franche-Comté [COMUE], LEG - Laboratoire d'Economie et de Gestion - UB - Université de Bourgogne - CNRS - Centre National de la Recherche Scientifique

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Abstract: Related party transactions, shareholders' spoliation or relational mechanism, the case of ThailandRelated party transactions are usually considered as a mechanism to spoliate shareholders for the benefit of a few actors. With the development of capitalism, the key feature of social networks in South-East Asia has contributed to the proliferation of related party transactions. The financial crisis of 1997, with a very strong impact on those countries, led to a spectacular reinforcement of corporate governance regulation. From now on, Thailand public firms have to publish the amount and the nature of their related party transactions. Our research subject is to inquire whether this publication is sufficient for limiting the negative impact of related party transactions on financial performance. While this result has been confirmed, we propose a theoretical contribution on the motives that can explain this absence of impact.

Keywords: réglementation; regulation; related party transactions; communication; comunicación; corporate governance; gobernanza; gouvernance; information; reglamentación; transacciones entre partes vinculadas; transactions entre parties liées (search for similar items in EconPapers)
Date: 2012-04
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Published in Recherches en sciences de gestion, 2012, 89, pp.61-80. ⟨10.3917/resg.089.0059⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-01347011

DOI: 10.3917/resg.089.0059

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