Presented at Global Financial Conference, Wharton Business School, Philadelphia, PA, USA, September 24-25, 2010
Governance practices of Indian business houses changed after 1991 liberalization. Prima facie analysis of Indian corporate governance practices and rules differ for Public Sector, Private Sector, Closely Held and Widely Held companies. Family-based business houses have grown in number & size in last two decades. More than 35 percent of first 100 businesses are owned by families. Corporate Governance norms are set for listed companies. It is voluntary for Public Sector while there is no specific guide if a business does not fall in either of the head, irrespective of its size and volume of the business. Keeping in mind, this paper want to study current practices in family based business houses and its pros and cons. This research may help to design special policy measures for companies managed by family.
Keywords: Corporate Governance, Family Based Business, Closely Held Companies, Widely Held Companies
JEL Classification: G3