EquitiesFirst has joined forces with Nasdaq Governance Solutions to publish a series of research reports on corporate governance for selected markets in APAC. We have assembled a team of experts on corporate governance in each of the subject markets to provide background and key insights on the space. These reports are for both investors in and management of listed companies focused on creating long-term value in their enterprises.
The topic areas will range from governance best practices, technological shifts, regulatory trends, communication, investor expectations and other topics tailored specifically to each of the regions.
Thailand has made remarkable progress in corporate governance over the last 25 years since the Asian financial crisis. This report examines the latest corporate governance code from the Stock Exchange of Thailand and how sustainability and good governance can become strategic assets to local firms and capital markets.
Thailand corporate governance witnessed significant transformation for two decades alongside its economic development. The latest CG framework introduced recently encourages firms to implement the policies substantively and stresses the importance of sustainability and ESG.
Family ownership is commonly seen in Thai companies; however, many find it challenging to execute smooth successions. At a macro-level, economic growth in the last decade has stalled due to high dependence on international tourism. Consequently, the Thailand government enhanced their effort to drive innovation and new technology.
Some key takeaways from this paper are:
- Latest developments in Thai corporate governance, including the new annual “One Report”, and the new policy for Chairman and CEO positions
- Recommendations for Thai family firms for successful transitions to the next generation
- New growth model for Thai listed companies to drive long-term prosperity
- Actional insight on ESG reporting for mid to small Thai companies
- How sustainability and good governance could be positioned as strategic assets
Some key takeaways from this paper are:
- Latest developments in Thai corporate governance, including the new annual “One Report”, and the new policy for Chairman and CEO positions
- Recommendations for Thai family firms for successful transitions to the next generation
- New growth model for Thai listed companies to drive long-term prosperity
- Actional insight on ESG reporting for mid to small Thai companies
- How sustainability and good governance could be positioned as strategic assets
“Corporate Governance in Thailand: Sustainability and ESG as strategic assets” was written by Roy Kouwenberg, and co-published by Nasdaq and EquitiesFirst. It is the eighth report in the series Corporate Governance: Driving Value Creation in Asia Pacific.
With a Ph.D. in Finance from Erasmus University Rotterdam in the Netherlands, Roy Kouwenberg is a Professor and Director of the Ph.D. Programs at Mahidol University, College of Management in Bangkok. Having studied corporate governance of listed firms in Thailand and Asia, he co-authored a 2014 study on “Corporate Governance and Stock Returns in Asia”, which was published in the journal Quantitative Finance. Moreover, Roy’s extensive research on finance and investments, has also been published in top academic journals such as the Journal of Financial Economics, the Review of Financial Studies, and Management Science.
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