PRIVATE FIRMS DOING BETTER THAN THOSE LISTED
Nantoo Banerjee
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2019-11-04 10:04
India may hold the third position on the list of countries with the highest number of family-owned business, after China and the United States, but not many of its family-managed public firms are as clean as their counterparts in most other large economies. The Credit Suisse Family 1000 report, last year, based on a study of 1015 companies of $250 million or more in market capitalisation each, listed 111 of such companies in India. Most of these companies are stock-exchange listed and controlled by family promoters. Among top 50 profitable companies globally, 24 were from Asia, with a total market capitalisation of $748 billion, of which 12 were Indian family-owned companies valued at $192.2 billion, the report said. However, these Indian companies are more of an exception than representing a normal trend. There are little to talk about thousands of India’s family-run public companies as the daily stock exchange list would suggest.