Guidelines on Resolution and Prevention of Corruption of Thai Listed Companies in the Stock Exchange

6 Pages Posted: 13 Nov 2017

Date Written: January 1, 2014

Abstract

The research paper focuses on corruption problems in Thai private sectors of listed companies in the Stock Exchange of Thailand (SET) compared with those in five foreign stock exchanges: NYSE (USA), FWB (Germany), Milan stock market (Italy), KRK (South Korea) and SGX (Singapore). The comparative analysis concentrated on causes, nature, models and effects of corruption of listed companies, as well as law enforcement problems of Thai laws and foreign laws on corruption of listed companies in order to recommend effective guidelines on legal and other related measures for solving and preventing the corruption of Thai listed companies in the SET. The results of this research found that the private sectors’ corruption of listed companies in stock markets had more and more tremendous values and complex methods of corruption than those in the public sectors, whether such corruption were occurred in highly developed stock markets or in low developing ones, that had caused financial and economic crises at national, regional, and global levels without any frontiers in the world of globalization. The causes, nature, models, and effects of corruption, as well as problems of law enforcement, for solving and preventing listed companies’ corruption were different between listed companies in Thai and foreign stock markets. However, at least two models and methods of corruption that generated economic and financial crisis were in common: market manipulation by insider trading and embezzlement/siphoning of companies’ property by fraudulent accounting statement.

Keywords: Resolution and Prevention, Corruption of Thai Private Sectors, Listed Companies in Stock Exchange

Suggested Citation

Srivithaya, Suraphol and Sonsuphap, Rattaphong, Guidelines on Resolution and Prevention of Corruption of Thai Listed Companies in the Stock Exchange (January 1, 2014). RSU International Journal of College of Government (RSUIJCG), Vol. 1, No. 1, (2014), Available at SSRN: https://ssrn.com/abstract=3042203

Suraphol Srivithaya (Contact Author)

Rangsit University ( email )

52/347 Colonel Thaksin Lak Hok
Pathum Thani
Thailand

Rattaphong Sonsuphap

Rangsit University ( email )

52/347 Colonel Thaksin Lak Hok
Pathum Thani
Thailand

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