The Chairman of Prof. Sangvian Indaravijaya Foundation, Mr. Chavalit Thanachanan, announced that the Foundation, The Stock Exchange of Thailand (SET), and Thammasat University’s (TU) Faculty of Commerce and Accountancy have signed a Memorandum of Understanding (MOU) to develop a program on corporate governance (CG), creating a body of knowledge in this field as well as promoting CG amongst listed companies and in the Thai capital market.
“The Foundation, the SET, and TU have appointed a committee comprised of several distinguished persons in CG, including Prof. Warapatr Todhanakasem Ph.D.; Prof. Anya Khanthavit Ph.D.; Assoc. Prof. Kulpatra Sirodom Ph.D.; Silpaporn Srichanphet Ph.D., and Mr. Siriwut Siempakdi. Prof. Hiran Radeesri will chair this body, which will consider and outline the program’s structure. The Committee will also decide upon the materials and teaching methodology best suited to an undergraduate course in Thailand’s public universities.
“Furthermore, the content of the program will be developed to serve the needs of the Thai business community and the society as a whole. The Committee will also be responsible for the coverage and appropriateness of the program’s content, the production of the textbooks and teaching handbooks, and other course materials,” Mr. Chavalit said.
SET Executive Vice President Ms. Sopawadee Lertmanaschai said that this project is part of the SET’s University Networking Program, which will encourage academic institutions to act as centers of learning and information distribution to students, lecturers, and staff members of the institutions as well as the public.
“This is the first time we’ve seriously promoted CG to become a course in college. The progress is in line with the SET’s objective to promote CG as widely as possible. The SET will provide CG experts and financial support to the program. Initially, THB2.00 mln. in funds will be allocated,” Ms. Sopawadee said.
Assoc. Prof. Kesinee Witoonchart, Dean of TU’s Faculty of Commerce and Accountancy, said that the Faculty was very pleased to be the pioneer in including CG in its curriculum. This is a good beginning for both academic and business institutions to develop quality human resources who recognize the importance of CG, and to promote the development of CG to further.
“The Faculty recognizes this and would like to have CG courses conducted as a separate subject. Initially, during the pilot project, the course will be an elective subject for undergraduate students worth 3 credits (48 hours). The first course is expected to begin in the first semester of the 2006 academic year. After that TU will review the program and may include CG as a compulsory course within the Faculty, or that of other faculties in the future.
“TU will also be happy to see the course used as a teachers’ training program in the University Networking Project, so that the program can be distributed to other universities as well. And, while developing this CG program, TU will also look for opportunities to include CG in its MBA and Executive MBA programs, taught for 3-6 hours as part of its Strategic Management course. As a result, students will recognize the importance of CG before going to work after graduation,” the Dean concluded.
