IDEAS home Printed from https://ideas.repec.org/a/wly/corsem/v32y2025i2p2237-2253.html
   My bibliography  Save this article

Exploring the influence of military experience directors on corporate governance: Evidence from Thai‐listed companies

Author

Listed:
  • Veerawin Korphaibool
  • Pattanaporn Chatjuthamard
  • Pornsit Jiraporn
  • Sirimon Treepongkaruna

Abstract

Different board of directors (BODs) characteristics influence corporate strategy and performance. Essential attributes such as gender, education, and experience determine the preferences, opinions, and decisions to prioritize the strategy, which normally focuses on profitability. In 1997, during the Asian financial crisis, the Thai government and Thai firms adopted the sufficiency economy philosophy (SEP) approach to overcome financial catastrophes. This study explores the relationship between one distinct characteristic of the BOD, directors with direct and indirect military backgrounds, and the SEP performance. To minimize endogeneity and eliminate reverse causality, we apply a two‐stage least squares instrumental variable (2SLS‐IV) analysis. We find evidence supporting the upper echelons theory (UET), where the characteristics of the BOD, such as military experience, determine the organizational decision to enhance SEP performance.

Suggested Citation

  • Veerawin Korphaibool & Pattanaporn Chatjuthamard & Pornsit Jiraporn & Sirimon Treepongkaruna, 2025. "Exploring the influence of military experience directors on corporate governance: Evidence from Thai‐listed companies," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 32(2), pages 2237-2253, March.
    • Handle: RePEc:wly:corsem:v:32:y:2025:i:2:p:2237-2253
    DOI: 10.1002/csr.3063
    as

    Download full text from publisher

    File URL: https://doi.org/10.1002/csr.3063
    Download Restriction: no
    File URL: https://libkey.io/10.1002/csr.3063?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wly:corsem:v:32:y:2025:i:2:p:2237-2253. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: https://doi.org/10.1002/(ISSN)1535-3966 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.