Blockchain hysteria: Adding “blockchain” to company’s name

Archana Jain and Chinmay Jain

Economics Letters, 2019, vol. 181, issue C, 178-181

Abstract: Using a list of companies that changed their names to add “blockchain” or “bitcoin” to their names, we find that after changing the names, these firms have a significant abnormal positive return that lasts for 2 months. The abnormal return turns negative 5 months after the change. This suggests that these firms changed their names to take advantage of the hysteria surrounding the price rise of bitcoin.

Keywords: Blockchain; Bitcoin; Corporate name change; Abnormal return; Event study (search for similar items in EconPapers)
JEL-codes: G10 G14 G3 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:181:y:2019:i:c:p:178-181

DOI: 10.1016/j.econlet.2019.05.011

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