Family-owned companies are characterized as organizations in which the shareholders belong to the same family and participate substantially in the management, direction, and operation of the company. It is widely recognized that each family has its own unique unwritten rules, values, histories, and communication methods. As the family structure shrinks or expands, the company changes, particularly with the advent of the second and third generations. Changes instigated by new generations can improve or harm the business.
This Corporate Governance Guide for Family-Owned Companies was written by the Pakistan Institute of Corporate Governance (PICG), The Institute of Chartered Accountants Pakistan (ICAP), in conjunction with the Center for International Private Enterprise (CIPE) for the business community in Pakistan. Download the full report via the link above.