SMU's Business Families Institute (BFI@SMU) released the results from its “Asian Business Families Governance: Crossing the Chasm for Inter-Generational Change” study, which found that while 71 per cent of the 102 business families surveyed said there should be a decision-making body comprising representatives of the various branches of the family to decide family matters, only 12 per cent have a working governing body elected by family members while 49 per cent have not considered this at all. The survey also found that business families from Singapore fell far behind India in terms of governance practices. SMU Vice President (Business Development) and BFI@SMU Academic Director Annie Koh presented the findings as well as moderated the panel comprising representatives of major family businesses in Singapore and the region.