A Rose.com By Any Other Name  

Oleh:

Cooper, Michael J. ; Dimitrov, Orlin ; Rau, P. Raghavendra

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: The Journal of Finance (EBSCO) vol. 56 no. 6 (2001), page 2371-2388.
Topik: website; studies; stock prices; name changes; internet; rates of return; effects
Fulltext: p 2371.pdf (266.1KB)

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: JJ88.4 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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We document a striking positive stock price reaction to the announcement of corporate name changes to internet - related dotcom names. This "dotcom" effect produces cumulative abnormal returns on the order of 74 percent for the 10 days surrounding the announcement day. The effect does not appear to be transitory, there is no evidence of a post annuncement negative drift. The announcement day effect is also similar across all firms, regardless of the firm's level of involvement with the internet. A mere association with the internet seems enough to provide a firm with a large and permanent value increase.

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