The impact of blockchain related name changes on corporate performance

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buir.contributor.authorŞensoy, Ahmet
dc.citation.spage101759en_US
dc.citation.volumeNumber65en_US
dc.contributor.authorAkyıldırım, E.
dc.contributor.authorCorbet, S.
dc.contributor.authorŞensoy, Ahmet
dc.contributor.authorYarovaya, L.
dc.date.accessioned2021-02-25T05:49:41Z
dc.date.available2021-02-25T05:49:41Z
dc.date.issued2020
dc.departmentDepartment of Managementen_US
dc.description.abstractThis paper examines the impact of blockchain and crypto-related name changes on corporate and financial performance of the corporations. We document several pieces of evidence suggesting that companies who partake in such “crypto-exuberant” naming practices become more volatile and offer substantial and persistent stock market premiums as a reward for their corporate identity change. However, the retroactive name changes harm firm's short-term profitability and have a dampening effect on financial leverage of the company. This paper advances the Dotcom effect literature by providing novel results on the changing traditional pathways of price discovery and information flows after the announcement of corporate name changes to blockchain-related names. The identified contagion channels display that crypto-exuberant companies become more susceptible to cryptocurrency markets, which should interest regulators and investors.en_US
dc.embargo.release2022-12-01
dc.identifier.doi10.1016/j.jcorpfin.2020.101759en_US
dc.identifier.issn0929-1199
dc.identifier.urihttp://hdl.handle.net/11693/75568
dc.language.isoEnglishen_US
dc.publisherElsevieren_US
dc.relation.isversionofhttps://dx.doi.org/10.1016/j.jcorpfin.2020.101759en_US
dc.source.titleJournal of Corporate Financeen_US
dc.subjectBlockchainen_US
dc.subjectCryptocurrencyen_US
dc.subjectCrypto-exuberanceen_US
dc.subjectDotcom effecten_US
dc.subjectInformation asymmetryen_US
dc.subjectCorporate name changesen_US
dc.subjectFinTechen_US
dc.titleThe impact of blockchain related name changes on corporate performanceen_US
dc.typeArticleen_US

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