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What'S In A Nickname? Price And Volume Effects Of A Pure Ticker Symbol Change

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  • Palani‐Rajan Kadapakkam
  • Lalatendu Misra

Abstract

We examine the effect of a voluntary change in ticker symbol without other contemporaneous corporate events such as a name change. We find significant declines in trading volume and prices on the effective date of the ticker change. We segment the sample by exchange listing, share turnover activity, and subperiod. We observe declines in trading volume in all subsamples and negative abnormal returns in recent years.

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  • Palani‐Rajan Kadapakkam & Lalatendu Misra, 2007. "What'S In A Nickname? Price And Volume Effects Of A Pure Ticker Symbol Change," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 30(1), pages 53-71, March.
    • Handle: RePEc:bla:jfnres:v:30:y:2007:i:1:p:53-71
    DOI: 10.1111/j.1475-6803.2007.00202.x
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    Cited by:

    1. Corbet, Shaen & Hou, Yang & Hu, Yang & Lucey, Brian & Oxley, Les, 2021. "Aye Corona! The contagion effects of being named Corona during the COVID-19 pandemic," Finance Research Letters, Elsevier, vol. 38(C).
    2. Bicha Karim, 2011. "Corporate name change and shareholder wealth effect: Empirical evidence in the French Stock Market," Journal of Asset Management, Palgrave Macmillan, vol. 12(3), pages 203-213, August.
    3. Durham, Greg & Santhanakrishnan, Mukunthan, 2016. "Ticker fluency, sentiment, and asset valuation," The Quarterly Review of Economics and Finance, Elsevier, vol. 61(C), pages 89-96.
    4. Xing, Xuejing & Anderson, Randy I. & Hu, Yan, 2016. "What׳s a name worth? The impact of a likeable stock ticker symbol on firm value," Journal of Financial Markets, Elsevier, vol. 31(C), pages 63-80.
    5. Baer, Naomi & Barry, Erica & Smith, Gary, 2020. "The name game: The importance of resourcefulness, ruses, and recall in stock ticker symbols," The Quarterly Review of Economics and Finance, Elsevier, vol. 76(C), pages 410-413.
    6. Alyssa G. Anderson & Yelena Larkin, 2019. "Does Noninformative Text Affect Investor Behavior?," Financial Management, Financial Management Association International, vol. 48(1), pages 257-289, March.
    7. Wu, Chih-Chiang & Chen, Wei-Peng, 2022. "What's an AI name worth? The impact of AI ETFs on their underlying stocks," Finance Research Letters, Elsevier, vol. 46(PB).
    8. Arpita Agnihotri & Saurabh Bhattacharya, 2017. "Corporate Name Change and the Market Valuation of Firms: Evidence from an Emerging Market," International Journal of the Economics of Business, Taylor & Francis Journals, vol. 24(1), pages 73-90, January.
    9. Hu, Cui & Li, Ben G., 2021. "Chinese lexicography and stock trading," International Review of Economics & Finance, Elsevier, vol. 73(C), pages 44-59.
    10. Kot, Hung Wan, 2011. "Corporate name changes: Price reactions and long-run performance," Pacific-Basin Finance Journal, Elsevier, vol. 19(2), pages 230-244, April.

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