What’s in a name? A lot if it has “blockchain”

Prateek Sharma, Samit Paul and Swati Sharma

Economics Letters, 2020, vol. 186, issue C

Abstract: We find that firms that change their corporate names to include buzzwords related to cryptocurrencies experience large and permanent valuation gains. We document cumulative abnormal returns of 30 percent in 3 days surrounding such name change announcements. These abnormal returns cannot be explained by industry factors and the small firm effect. The results are robust to outliers and to the choice of the expected returns model used to measure abnormal returns. The abnormal returns generated following cryptocurrency-related name changes are larger and more persistent than those generated following non-cryptocurrency-related name changes.

Keywords: Blockchain; Cryptocurrency; Event study (search for similar items in EconPapers)
JEL-codes: G10 G15 G17 G19 (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0165176519304148
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:186:y:2020:i:c:s0165176519304148

DOI: 10.1016/j.econlet.2019.108818

Access Statistics for this article

Economics Letters is currently edited by Economics Letters Editorial Office

More articles in Economics Letters from Elsevier
Bibliographic data for series maintained by Catherine Liu ().