- List of Figures
- List of Tables
- Notes on Contributors
- Foundations of Business Groups: Towards an Integrated Framework
- Business Groups in Historical Perspectives
- Business Groups in Prewar Japan: Historical Formation and Legacy
- Business Networks in Postwar Japan: Whither the Keiretsu?
- Business Groups in South Korea
- Business Groups in Taiwan
- Business Groups in China
- Business Groups in Thailand
- Business Groups in Singapore
- Business Groups in India
- Business Groups in Argentina
- Business Groups in Brazil
- Business Groups in Chile
- Business Groups in Mexico
- Business Groups in Israel
- Business Groups in Turkey
- Business Groups in Russia
- Business Groups in South Africa
- Business Groups in Emerging Markets: Paragons or Parasites?
- The Riddle of the Great Pyramids
- Economic Institutions and the Boundaries of Business Groups
- Business Groups and the State: The Politics of Expansion, Restructuring, and Collapse
- Corporate Governance of Business Groups
- The Kin and the Professional: Top Leadership in Family Business Groups
- Diversification Strategy and Business Groups
- Capability Building in Business Groups
- Technological Innovation and Business Groups
Abstract and Keywords
This article aims to examine the development of business groups in Thailand. It considers business groups, not just as a response to market failure or institutional voids in emerging markets, but as vehicles for economic catch-up with more industrialized nations. This article briefly describes the development of business, with an emphasis on family-run groups, and their survival despite changes in economic and political environments until the 2000s. It then sketches the structure of ownership and management of family business groups. It also examines the business diversification and internationalization strategies of major business groups before and after the 1997 Asian financial crisis. It also looks at the impacts of the crisis, and at corporate governance reform, focusing on the banking sector and listed companies. Finally, this article concludes by looking at the competitive capabilities of leading Thai business groups, and considers their future challenges.
Natenapha Wailerdsak Yabushita is Lecturer at Thammasat Business School, Bangkok, Thailand.
Akira Suehiro is Professor at the Institute of Social Science at the University of Tokyo, Japan.
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