This study examines how incentive conflicts and the quality of corporate governance practices in Thai family firms influence firm value. We hypothesize that the agency conflicts between majority and minority shareholders in Thai family-controlled and family-managed firms (Type II Agency Problem)...

We examine the relation between the quality of corporate governance practices and firm value for Thai firms, which often have complex ownership structures. We develop a comprehensive measure of corporate governance and show that, in contrast to conventional measures of corporate governance, our...