Investor confusion and similarly identified securities

J. R. Davies, David Hillier and Juliane Thamm

Accounting and Finance, 2007, vol. 47, issue 4, pages 693-711

Abstract: This paper extends the analysis of Rashes (2001) to examine the co-movement of prices for a sample of UK equity securities with similar ticker symbols and names. In contrast to Rashes (2001), we find only limited evidence of price changes that could be attributed to ticker symbol or name confusion. Our results suggest that any such confusion, if it exists at all, is most likely confined to very short time horizons and is not a systematic occurrence for similarly identified securities. Copyright (c) The Authors
Journal compilation (c) 2007 AFAANZ.

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