Family Business in Thailand: Its Management, Governance, and Future Challenges

Abstract

This article examines family businesses in post-crisis Thailand. The analysis focuses on their corporate management and governance restructuring. The findings indicate that family business still strongly persists and can be categorized into four groups, namely, closed family businesses, specialized family businesses, authoritarian family conglomerates, and modern family conglomerates. Given the falling trade barriers and the increasing globalization, the local family firms will face a challenge in capital market and the pressure of ICT development.

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