{"id":"https://openalex.org/W1504608164","doi":null,"title":"Does Foreign Direct Investment Really Improve Corporate Governance? Evidence from Thailand","display_name":"Does Foreign Direct Investment Really Improve Corporate Governance? Evidence from Thailand","publication_year":2008,"publication_date":"2008-09-01","ids":{"openalex":"https://openalex.org/W1504608164","mag":"1504608164"},"language":"en","primary_location":{"id":"pmh:oai:RePEc:bth:wpaper:2008-09","doi":null,"is_oa":false,"landing_page_url":"http://www.bot.or.th/Thai/EconomicConditions/Publication/Discussion_2551/dp032008thai_nasha.pdf","pdf_url":"http://www.bot.or.th/Thai/EconomicConditions/Publication/Discussion_2551/dp032008thai_nasha.pdf","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"},"volume":null,"type":"preprint","is_traditional":true,"indexed_in":[],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5028829890","display_name":"Nasha Ananchotikul","orcid":null,"observed_orcids":[]},"institutions":[],"countries":[],"is_corresponding":true,"raw_author_name":"Nasha Ananchotikul","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]}],"institutions":[],"countries_distinct_count":0,"institutions_distinct_count":0,"corresponding_author_ids":["https://openalex.org/A5028829890"],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":false,"cited_by_count":30,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.948199987411499,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.948199987411499,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10415","display_name":"International Business and FDI","score":0.048900000751018524,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T13901","display_name":"State Capitalism and Financial Governance","score":0.0005000000237487257,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/foreign-direct-investment","display_name":"foreign direct investment","score":0.9990000128746033},{"id":"https://openalex.org/keywords/corporate-governance","display_name":"corporate governance","score":0.9950000047683716},{"id":"https://openalex.org/keywords/foreign-ownership","display_name":"foreign ownership","score":0.6639999747276306},{"id":"https://openalex.org/keywords/foreign-institutional-investors","display_name":"foreign institutional investors","score":0.8029999732971191},{"id":"https://openalex.org/keywords/minority-shareholder-protection","display_name":"minority shareholder protection","score":0.6880000233650208},{"id":"https://openalex.org/keywords/ownership-stake","display_name":"ownership stake","score":0.43299999833106995},{"id":"https://openalex.org/keywords/governance-institutions","display_name":"governance institutions","score":0.4399999976158142},{"id":"https://openalex.org/keywords/thailand","display_name":"Thailand","score":0.4410000145435333},{"id":"https://openalex.org/keywords/emerging-markets","display_name":"emerging markets","score":0.7429999709129333}],"concepts":[{"id":"https://openalex.org/C39389867","wikidata":"https://www.wikidata.org/wiki/Q380767","display_name":"Corporate governance","level":2,"score":0.8712058067321777},{"id":"https://openalex.org/C610760","wikidata":"https://www.wikidata.org/wiki/Q1340706","display_name":"Endogeneity","level":2,"score":0.8300318717956543},{"id":"https://openalex.org/C33842695","wikidata":"https://www.wikidata.org/wiki/Q490513","display_name":"Foreign direct investment","level":2,"score":0.7298538684844971},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.6615140438079834},{"id":"https://openalex.org/C120757647","wikidata":"https://www.wikidata.org/wiki/Q381136","display_name":"Shareholder","level":3,"score":0.5710185170173645},{"id":"https://openalex.org/C2776746854","wikidata":"https://www.wikidata.org/wiki/Q11430545","display_name":"Foreign ownership","level":3,"score":0.5594167113304138},{"id":"https://openalex.org/C121955636","wikidata":"https://www.wikidata.org/wiki/Q4116214","display_name":"Accounting","level":1,"score":0.47561532258987427},{"id":"https://openalex.org/C165696696","wikidata":"https://www.wikidata.org/wiki/Q11287","display_name":"Exploit","level":2,"score":0.4164030849933624},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.3667795658111572},{"id":"https://openalex.org/C34447519","wikidata":"https://www.wikidata.org/wiki/Q179522","display_name":"Market economy","level":1,"score":0.3603307902812958},{"id":"https://openalex.org/C73283319","wikidata":"https://www.wikidata.org/wiki/Q1416617","display_name":"Financial system","level":1,"score":0.3326795697212219},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.29627177119255066},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.22063815593719482},{"id":"https://openalex.org/C139719470","wikidata":"https://www.wikidata.org/wiki/Q39680","display_name":"Macroeconomics","level":1,"score":0.09945505857467651},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.0},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.0},{"id":"https://openalex.org/C38652104","wikidata":"https://www.wikidata.org/wiki/Q3510521","display_name":"Computer security","level":1,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"pmh:oai:RePEc:bth:wpaper:2008-09","doi":null,"is_oa":false,"landing_page_url":"http://www.bot.or.th/Thai/EconomicConditions/Publication/Discussion_2551/dp032008thai_nasha.pdf","pdf_url":"http://www.bot.or.th/Thai/EconomicConditions/Publication/Discussion_2551/dp032008thai_nasha.pdf","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"},{"id":"mag:1504608164","doi":null,"is_oa":false,"landing_page_url":"https://EconPapers.repec.org/RePEc:bth:wpaper:2008-09","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"RePEc: Research Papers in Economics","raw_type":null}],"best_oa_location":null,"sustainable_development_goals":[{"id":"https://metadata.un.org/sdg/16","score":0.8046000003814697,"display_name":"Peace, justice, and strong institutions"}],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":0,"referenced_works":[],"related_works":["https://openalex.org/W4312787843","https://openalex.org/W6989719583","https://openalex.org/W4408576565","https://openalex.org/W2808745657","https://openalex.org/W2043236283","https://openalex.org/W7100119129","https://openalex.org/W3123141351","https://openalex.org/W3124648214","https://openalex.org/W2187108205","https://openalex.org/W3006266589"],"abstract_inverted_index":{"It":[0],"is":[1,7,43,97,107,153],"widely":[2],"argued":[3],"that":[4,51,82,111,150],"foreign":[5,52,71,77,86,90,112,138,159],"investment":[6,53,87],"a":[8,55,163],"mechanism":[9],"for":[10,76,155],"improving":[11],"corporate":[12,41,59,101,121,145,151],"governance":[13,42,122,152,168],"in":[14,100,144],"emerging":[15],"markets.":[16],"The":[17,79],"results":[18,80],"of":[19,37,40,85,134],"this":[20,31],"paper,":[21],"which":[22],"uses":[23],"firm-level":[24],"data":[25],"on":[26,58,70],"365":[27],"Thai":[28],"firms,":[29],"challenge":[30],"conventional":[32],"wisdom.":[33],"A":[34],"firm-specific":[35],"index":[36],"the":[38,49,83,105],"quality":[39],"constructed":[44],"and":[45],"used":[46],"to":[47,127,142],"test":[48],"hypothesis":[50],"has":[54],"positive":[56],"effect":[57],"governance.":[60,102,146],"Endogeneity":[61],"problems":[62],"are":[63],"addressed":[64],"by":[65,137],"using":[66],"long-standing":[67],"statutory":[68],"limits":[69],"ownership":[72],"as":[73,116],"an":[74],"instrument":[75],"investment.":[78],"show":[81],"form":[84],"matters.":[88],"When":[89],"industrial":[91,113],"companies":[92],"hold":[93],"large":[94],"stakes,":[95],"there":[96],"no":[98],"improvement":[99],"If":[103],"anything":[104],"opposite":[106],"true;":[108],"it":[109,124],"appears":[110],"investors":[114,140],"act":[115],"insiders:":[117],"they":[118],"favor":[119],"weak":[120,167],"because":[123],"allows":[125],"them":[126],"exploit":[128],"minority":[129,135],"shareholders.":[130],"In":[131],"contrast,":[132],"purchases":[133],"stakes":[136],"institutional":[139],"lead":[141],"improvements":[143],"I":[147],"also":[148],"find":[149],"poorer":[154],"firms":[156],"whose":[157],"major":[158],"owner":[160],"comes":[161],"from":[162],"country":[164],"with":[165],"relatively":[166],"institutions.":[169]},"counts_by_year":[{"year":2025,"cited_by_count":1},{"year":2024,"cited_by_count":1},{"year":2023,"cited_by_count":4},{"year":2022,"cited_by_count":2},{"year":2021,"cited_by_count":3},{"year":2020,"cited_by_count":1},{"year":2018,"cited_by_count":3},{"year":2017,"cited_by_count":2},{"year":2016,"cited_by_count":4},{"year":2015,"cited_by_count":1},{"year":2014,"cited_by_count":3},{"year":2013,"cited_by_count":1},{"year":2012,"cited_by_count":2}],"updated_date":"2026-11-08T12:12:28.789561","created_date":"2016-06-24T00:00:00"}