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Familial altruism and reputation risk: evidence from China

Author

Listed:
  • Hanqing “Chevy” Fang
  • Yulin Shi
  • Zhenyu Wu

Abstract

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 hand-collected relationship between family members to measure the closeness of incumbent family members and their potential successors as a proxy for the altruistic degree. Findings - Results show that, in developing countries like China, familial altruism in family firms with succession plans, which does not reduce the practice of earnings management, should be considered by practitioners while detecting it. Originality/value - The hand collected data are very unique; the authors have focused on the relationship between incumbents and successors and the authors define their closeness by using genes shared between them.

Suggested Citation

  • Hanqing “Chevy” Fang & Yulin Shi & Zhenyu Wu, 2021. "Familial altruism and reputation risk: evidence from China," China Finance Review International, Emerald Group Publishing Limited, vol. 11(4), pages 437-448, April.
    • Handle: RePEc:eme:cfripp:cfri-01-2021-0016
    DOI: 10.1108/CFRI-01-2021-0016
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    Citations

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    Cited by:

    1. Liu, Wenzhen & Wu, Wenfeng, 2023. "Underwriter reputation and the pricing of securities: Evidence from asset-backed securities," International Review of Financial Analysis, Elsevier, vol. 88(C).
    2. Zhang, Wenwu & Luo, Le & Gu, Lianglian, 2023. "An empirical study on urban integration of Chinese elderly individuals with migration in periods of economic transformation: Internal mechanism and economic effects," International Review of Economics & Finance, Elsevier, vol. 86(C), pages 170-181.

    More about this item

    Keywords

    Altruism; Family firm; Succession; Reputation risk; G30; G34; M41;
    All these keywords.

    JEL classification:

    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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