Logo Colour, Earnings Management and Firm Value

Tao Chen

Prague Economic Papers, 2016, vol. 2016, issue 4, 459-475

Abstract: I document a new channel that can be used by managers who can take advantage of investors preference for logo colours to influence their perception of the financial reports and thus indirectly affect firm value. Evidence suggests that firms having warm colours as a major logo colour, fewer colours used in the logo, and recognizable elements in the logo are associated with lower earnings management and higher firm value. My findings remain stable across different robustness checks.

Keywords: logo; firm value; earnings management; colour (search for similar items in EconPapers)
JEL-codes: G02 G32 M41 (search for similar items in EconPapers)
Date: 2016
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DOI: 10.18267/j.pep.570

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