Purpose: The purpose of this paper is to introduce an augmented high-order capital asset pricing model (AH-CAPM) as a new risk-based model to price stocks. Design/methodology/approach: The AH-CAPM is defined as a linear model with high-order marginal moments and co-moments from the joint...

Purpose: The authors study the effects of altruism and intention for succession on family firm's reputation risk-taking behaviors in Chinese publicly listed companies. Design/methodology/approach: The authors use earnings management as a proxy for reputation risk in family firms, and...