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The politics of sovereign wealth fund investment: the case of Temasek and Shin Corp

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  • Suntharee Lhaopadchan

Abstract

Purpose - The purpose of this paper is to highlight some of the political aspects of sovereign wealth fund investment. Design/methodology/approach - The paper employs a case study approach, bringing together various news articles and reports from around the world to build a picture of the key events surrounding the Temasek acquisition of Shin Corp. Findings - The paper finds that the deal between Temasek and Shin Corp. was complex as foreign ownership is limited in Thailand. To add further controversy to the deal, the ultimate owner of Shin Corp. was former Thai Prime Minister Thaksin Shinawatra. Consequently, the controversy surrounding the deal and sensitive nature of the sale caused significant political turmoil in Thailand, and in some measure contributed to the military coup that finally ousted Thaksin Shinawatra. Research limitations/implications - The paper is a case study and as such is illustrative. Practical implications - The case highlights the potential fallout from sovereign wealth fund investment as a result of acquiring strategic assets. Originality/value - To the best of the author's knowledge, the paper presents the first discussion of this important issue.

Suggested Citation

  • Suntharee Lhaopadchan, 2010. "The politics of sovereign wealth fund investment: the case of Temasek and Shin Corp," Journal of Financial Regulation and Compliance, Emerald Group Publishing Limited, vol. 18(1), pages 15-22, February.
    • Handle: RePEc:eme:jfrcpp:v:18:y:2010:i:1:p:15-22
    DOI: 10.1108/13581981011019598
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    Citations

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    Cited by:

    1. Marcelo Bucheli & Min-Young Kim, 2012. "Political Institutional Change, Obsolescing Legitimacy, and Multinational Corporations," Management International Review, Springer, vol. 52(6), pages 847-877, December.
    2. Mehrpouya, Afshin, 2015. "Instituting a transnational accountability regime: The case of Sovereign Wealth Funds and “GAPP”," Accounting, Organizations and Society, Elsevier, vol. 44(C), pages 15-36.

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