Mumbai: India has the highest percentage share of family businesses in Asia, accounting for 67% of total listed companies with market capitalisation of more than $50 million, Credit Suisse said in a research report on Thursday.
The report said 663 out of 983 listed Indian firms were family businesses and they account for half of all corporate hirings. Family businesses in India account for 46.8% of the total market capitalisation, it said.
Energy major Reliance Industries, top IT exporter Tata Consultancy Services, mobile operator Bharti Airtel and No.3 software exporter Wipro are among the top 20 firms in the Credit Suisse “Asian Family Business Basket”, the report showed.
The report said Asian family businesses benefit from the long-term and more stable investment strategy of their owners and their performance was supported by family values that view businesses as an inheritance.
Mint Exclusive | Families in business
“Many Asian family businesses are first-generation firms, in contrast with many family businesses in Europe and the US, which are already in their fourth or even fifth generation,” the report said.