World Bank2014-10-162014-10-162013-01https://hdl.handle.net/10986/20443This report assesses Thailand s corporate governance policy framework. It highlights recent improvements in corporate governance (CG) regulation, makes policy recommendations, and provides investors with a benchmark against which to measure corporate governance in Thailand. It is an update of the 2005 Corporate Governance Report on the Observance of Standards and Codes (CG ROSC). Good corporate governance enhances investor trust, protects minority shareholders, and encourages better decision making and improved relations with workers, creditors, and other stakeholders. Better investor protection can lower the cost of capital and encourage companies to list and raise funds through equity markets. It is crucial to protect retirement savings invested in listed companies. Good corporate governance also helps to ensure that these companies operate more transparently and efficiently.en-USCC BY 3.0 IGOACCOUNTINGACCOUNTING STANDARDSACQUISITIONADMINISTRATIVE ACTIONSALTERNATIVE INVESTMENTAMALGAMATIONANTI-TAKEOVER TACTICSARBITRAL AWARDARBITRATIONASSET MANAGEMENTASSET MANAGERSASSET VALUEAUDIT COMMITTEEAUDIT COMMITTEESAUDIT STANDARDSAUDITOR INDEPENDENCEBALANCE SHEETBANKING ASSETSBANKRUPTCYBANKSBENEFICIARIESBOARD MEMBERBOARD MEMBERSBOARDS OF DIRECTORSBROKERBUSINESS DEVELOPMENTBUSINESS JUDGMENT RULECAPACITY BUILDINGCAPITAL GAINSCAPITAL MARKETCAPITAL MARKET DEVELOPMENTCASH FLOWCENTRAL BANKCEOCEOSCHARTERCHIEF EXECUTIVECIVIL LAWCLASS ACTIONCOMMERCIAL BANKSCOMMERCIAL CODECOMMON LAWCOMPANIES ACTCOMPANYCOMPANY LAWCOMPANY LIMITEDCONFLICT OF INTERESTCONFLICT OF INTEREST POLICYCONFLICTS OF INTERESTCONTROLLING SHAREHOLDERCONTROLLING SHAREHOLDERSCORPORATE BONDSCORPORATE FORMSCORPORATE FRAUDCORPORATE GOVERNANCECORPORATE GOVERNANCE REFORMCORPORATE GOVERNANCE REFORMSCORPORATE OWNERSHIPCORPORATE SOCIAL RESPONSIBILITYCREDIBILITYCREDIT RATINGCREDIT RATING AGENCIESCREDITORCREDITOR RIGHTSCREDITORSDERIVATIVEDERIVATIVE ACTIONSDISPUTE RESOLUTIONDISPUTE RESOLUTIONSDUE CAREDUTY OF CAREDUTY OF LOYALTYECONOMIC DEVELOPMENTEMERGING MARKETEMERGING MARKET COUNTRIESEMERGING MARKET ECONOMIESEMERGING MARKET ECONOMYEMERGING MARKETSEQUITY MARKETSEXCHANGE ACTEXCHANGE COMMISSIONEXCHANGE RATEEXPENDITURESFINANCIAL CRISESFINANCIAL CRISISFINANCIAL DISCLOSUREFINANCIAL INSTITUTIONFINANCIAL INSTITUTIONSFINANCIAL INSTRUMENTSFINANCIAL MARKETSFINANCIAL RISKSFINANCIAL STATEMENTSFISCAL POLICYFOREIGN INVESTMENTFOREIGN INVESTORSFULL DISCLOSUREFUND MANAGERSGLOBAL CAPITALGLOBAL CAPITAL MARKETSGOOD CORPORATE GOVERNANCEGOVERNMENT BONDSGOVERNMENT POLICIESGOVERNMENT POLICYGROSS DOMESTIC PRODUCTGROUP OF SHAREHOLDERSHOLDINGHOLDING COMPANYHOLDINGSHUMAN RESOURCESINCORPORATEDINDEBTEDNESSINDEPENDENCE REQUIREMENTSINDEPENDENT DIRECTORINDEPENDENT DIRECTORSINDEPENDENT OVERSIGHTINDIVIDUALSINSIDER TRADINGINSTITUTIONAL INVESTORSINSURANCEINSURANCE COMPANIESINTELLECTUAL PROPERTYINTERESTED PARTIESINTERESTS OF MINORITY SHAREHOLDERSINTERNAL AUDITINTERNATIONAL STANDARDINTERNATIONAL STANDARDSINTERNATIONAL TRADEINVESTMENT BANKSINVESTMENT COMPANIESINVESTMENT INSTRUMENTINVESTOR CONFIDENCEINVESTOR PROTECTIONINVESTOR RELATIONSISSUANCELEGAL DUTIESLEGAL ENTITYLEGAL FRAMEWORKLEGAL PERSONALITYLEGAL PROTECTIONLEGAL SYSTEMLENDERSLIABILITYLIMITEDLTD.MAJOR SHAREHOLDERSMAJORITY SHAREHOLDERMANAGERSMARKET CAPMARKET CAPITALIZATIONMARKET INTERMEDIARIESMARKET OVERSIGHTMARKET PARTICIPANTSMARKET PRICESMARKET SURVEILLANCEMARKET TURNOVERMEMBER BROKERSMINORITY SHAREHOLDERMINORITY SHAREHOLDERSMONETARY FUNDMUTUAL FUNDSPENSIONPENSION FUNDPENSION FUNDSPENSIONSPERSONSPRICE MOVEMENTSPRIVATE COMPANIESPROFESSIONAL BODYPROPERTY RIGHTSPROXYPUBLIC COMMENTPUBLIC COMPANIESPUBLIC COMPANYPUBLIC LIMITED COMPANIESPUBLIC POLICYREGULATORY FRAMEWORKRETAIL INVESTORSRETURNSRISK FACTORSRISK MANAGEMENTRISK MANAGEMENT SYSTEMSSECURITIESSECURITIES LAWSECURITIES MARKETSECURITIES MARKETSSETTLEMENTSHAREHOLDERSHAREHOLDER AGREEMENTSHAREHOLDER AGREEMENTSSHAREHOLDER APPROVALSHAREHOLDER MEETINGSHAREHOLDER MEETINGSSHAREHOLDER RIGHTSSHAREHOLDERS MEETINGSHAREHOLDERS MEETINGSSTAKEHOLDERSSTATE ENTERPRISESTOCK EXCHANGESTOCK EXCHANGESSTOCK MARKETSTOCK OPTIONSSUBSIDIARIESSUBSIDIARYSUPERVISORY BOARDTAKEOVERTAKEOVER MECHANISMSTAKEOVERSTANGIBLE ASSETTAXTENDER OFFERTENDER OFFERSTRANSACTIONTRANSACTION COSTSTRANSPARENCYUNDERLYING ASSETSVALUATIONWITHDRAWAL10.1596/20443