Ajay Shah makes a great point in the context of family run businesses that effective management is one of the best reasons for thriving PE industry in India.
To quote him:
This evidence encourages a style of private equity investing: where the investor takes a controlling stake in the firm and brings in the necessary knowledge and human resources to achieve business transformation. This is a lot of work when compared with an investor who only puts in capital. But if the core impediment to progress is the stasis of a family-run company, then this could be of essence.
Read the entire article here.