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Family Business: Yesterday, Today, Tomorrow

Indian Journal of Industrial Relations

Volume 44 Issue 2

Published: 2008
Author(s) Name: Ashok Panjwani, Vijay Aggarwal & Nand Dhameja
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Abstract

Family businesses are undergoing transformation, reformation and restructuring. This is the case in all economies, differences are only of degree and direction. Estimates show that about 85 percent of businesses in the European Union and 90 percent of US businesses are family controlled. Worldwide family businesses account for approximately 75 percent of the top 100 companies. A large proportion of such businesses belonged to family groups having more than one such company. The present study attempts to assess the changing contribution of family businesses, analyses their distinctive features and challenges and capture the stages of transformation and restructuring over the years in India and elsewhere. Keywords : Transformation and restructuring in family business

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