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

Xuejing Xing, Randy I. Anderson and Yan Hu

Journal of Financial Markets, 2016, vol. 31, issue C, 63-80

Abstract: 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.

Keywords: Ticker symbols; Tobin׳s Q; Mispricing; Liquidity (search for similar items in EconPapers)
JEL-codes: G11 G12 G14 (search for similar items in EconPapers)
Date: 2016
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (8)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:finmar:v:31:y:2016:i:c:p:63-80

DOI: 10.1016/j.finmar.2016.06.003

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