The Thai Military As a Business Group, 1940-2016

Kanda Naknoi

No 2019-14, CEI Working Paper Series from Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University

Abstract: This study documents the historical development of business activities of the military in Thailand from 1940 to 2016, using a dataset of three types of producers of non-security services: military firms whose shareholders are military units, military enterprises within military units; and military-related firms whose shareholders or board of directors are individual military officers. The military-related firms existed in 1940, and more were established during the World War II. Military enterprises began after the war. Later, the military firm was first established after a successful military coup one decade after the war. Since then, the military firms have earned revenues and grew in financial services and media industries, but the military enterprises and military-related firms have operated in a much wider range of industries than the military firms. The formation of military firms and military enterprises as a business group are in line with the transaction costs view in the literature.

Keywords: Business Group; Military; Thai Military Bank; Thailand (search for similar items in EconPapers)
JEL-codes: G31 G32 L22 (search for similar items in EconPapers)
Pages: 33 pages
Date: 2020-02
New Economics Papers: this item is included in nep-bec, nep-his and nep-sea
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Persistent link: https://EconPapers.repec.org/RePEc:hit:hitcei:2019-14

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