Mumbai, Sept. 17 -- The patriarch or matriarch at most family-run businesses in India do not give up control even when they are well into their sixties, leading to ill-executed succession, according to a new study that analyzed 474 large and mid-sized companies.

In nearly half the cases where the head of a family-run business was aged 60 or more, a successor from the family had joined the company but didn't have full control over its operations, found the study by headhunting firm Executive Access.

The family head not giving up control means successors are often past their prime age when they are eventually handed over the reins.

"Many of India's family business heirs will be closer to retirement than to the start of their careers by t...