HSS: Family Business in Thailand

Large portions of the corporate governance literature treat the family business, the most world's most common form of corporate structure, as either inefficient and anachronistic or forward looking and best incentivized to increase firm value. Interestingly, each perspective has received some empirical support in different geographic contexts. In this talk, I will review these arguments and present a political framework to account for variation in family business practices, using case examples from Thailand to highlight the link between the policy environment and family business behaviour.