Why family businesses keep thriving in India
For years, the alchemy of family businesses, evoking images of overbearing patriarchs and subservient professionals, has baffled governance gurus and tested the tenets of B-school teaching.Garden variety commentaries have harped on how whims and ends trump rationale and ethics in such organisations.But these critics have not swayed investors betting on the stocks, the institutions bankrolling them, and the markets using cold realism to reward many with valuations that defied sceptics. Why? The elements of that secret sauce, helping some grow while others shrank, was revealed at the ET Family B