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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: https://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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