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    政大機構典藏 > 商學院 > 財務管理學系 > 期刊論文 >  Item 140.119/79392
    Please use this identifier to cite or link to this item: http://nccur.lib.nccu.edu.tw/handle/140.119/79392


    Title: The Wealth Effects of Oil-related Name Changes on Stock Prices: Evidence from the U.S. and Canadian Stock Markets
    Authors: 張元晨
    Lin, Hsiao-Mei;Fok, Robert;Yang, Shih-An;Chang, Yuanchen
    Contributors: 財管系
    Keywords: Corporate name change;Oil price;Event study
    Date: 2015
    Issue Date: 2015-11-10 16:39:09 (UTC+8)
    Abstract: This paper examines the valuation effects of corporate name changes involving oil-related terms in the U.S. and Canadian stock markets. We show that relatively more U.S. companies add oil-related terms to their corporate names compared to Canadian firms. Investors in the U.S. market react more positively towards firms experiencing oil-related name changes during the recent oil price surge. On the other hand, the results indicate that the oil-related name change effects appear to be transitory in the Canadian market. Name changes trigger positive returns surrounding the announcement day, but the negative post-event drift largely cancels the effect. Moreover, investor reactions to oil-related name changes are associated with the company's actual involvement in the oil industry.
    Relation: Journal of International Financial Markets,Institutions & Money,
    Data Type: article
    DOI 連結: http://dx.doi.org/10.1016/j.intfin.2015.07.003
    DOI: 10.1016/j.intfin.2015.07.003
    Appears in Collections:[財務管理學系] 期刊論文

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