What's a name worth? The impact of a likeable stock ticker symbol on firm value

被引：9
|
作者：
Xing, Xuejing [1 ]
Anderson, Randy I. [2 ]
Hu, Yan [3 ]
机构：
[1] Univ Alabama, Huntsville, AL 35899 USA
[2] Griffin Capital Asset Management, El Segundo, CA USA
[3] Univ La Verne, La Verne, CA USA
来源：
JOURNAL OF FINANCIAL MARKETS | 2016年 / 31卷
关键词：
Ticker symbols; Tobin's Q; Mispricing; Liquidity; LIQUIDITY RISK; FUND FLOWS; MARKET; RETURNS; FLUENCY; PRICES; SENTIMENT; INVESTORS; GROWTH; EQUITY;
D O I：
10.1016/j.finmar.2016.06.003
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
We investigate the impact of the likeability and pronounceability of stock ticker symbols on firm value. Using a unique, comprehensive dataset with hand-collected ratings of ticker symbols, we find that higher likeability of ticker symbols leads to higher Tobin's Q The pronounceability of ticker symbols has a similar but weaker effect. Further evidence suggests that the effect is possibly due to the impact of ticker symbols on stock liquidity or mispricing or both. (C) 2016 Elsevier B.V. All rights reserved.
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页码：63 / 80
页数：18
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