Since the Asian currency crisis the legal framework for protecting minority shareholders in Thai listed companies has been strengthened. International and Western legal principles have been adopted to improve its efficiency and effectiveness. the main purpose has been to grow investment. The research questions whether the adopted legal principles are appropriate in the Thai context. It considers (i) whether the existing Thai legal framework provides adequate protection for minority shareholders; (ii) whether the transplanting of legal frameworks from other jurisdictions into Thai law is feasible; and (iii) what the obstacles to legal reforms are.