International Research Journal of Commerce , Arts and Science
( Online- ISSN 2319 - 9202 ) New DOI : 10.32804/CASIRJ
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ROLE OF HRM IN THE LIFECYCLE OF FAMILY BUSINESS
1 Author(s): DEVENDER KUMAR
Vol - 5, Issue- 5 , Page(s) : 296 - 303 (2014 ) DOI : https://doi.org/10.32804/CASIRJ
A family business is a business in which one or more members of one or more families have a significant ownership interest and significant commitments toward the business overall well-being. In some countries, many of the largest publicly listed firms are family-owned. More than 40% of the publicly listed firms in the world are family owned. 15% of the revenues of the top 30 enterprises in the world come from 3 familyrun businesses – Wal Mart (United States), Samsung (Korea) and Toyota. In fact, 175 of the world’s top 500 firms are currently family-controlled. Among the largest public companies listed in the US, 40% are family businesses and as of July 15, 2012 China had 684 A-share listed family-owned companies, which accounted for 49% of the total listed privately-run companies in the country.