What’S in a Name: Sound Symbolism of Stock Ticker Symbols Predict Stock Performance (original) (raw)

Small Sounds, Big Deals: Phonetic Symbolism Effects in Pricing

Journal of Consumer Research, 2010

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Ticker symbol and comovement: Evidence from a unique dataset in China *

2009

Abstract: Using a unique sample of matching stocks in China, this paper investigates the comovement between different stocks and its driving factors. Major findings include: (1) There exists a high positive correlation between returns on two matching stocks with similar ticker symbols; (2) By analyzing changes in correlation that took place after stocks changed their ticker symbols, we find that changes in ticker symbols have significant effects on the comovement between two stocks; (3) Individual investors are more possible to be confused about two matching stocks than institutional investors; Besides, when investor sentiment is high, the comovement between matching stocks is higher, indicating that investor sentiment amplifies comovement between matching stocks; In addition, if the price change of one of two matching stocks reflects “bad information ” (“good information”), the daily return on this stock will have a higher (lower) explanatory power for the daily return on the other...

Story Stocks: How Stock Market-Induced Corporate Identity is Being Formed

World Economy and International Relations, 2022

The article examines the process of forming a “stock market-induced corporate identity”. Nowadays, the concept of corporate identity is becoming multifaceted and interdisciplinary. The main thing in forming this image is the role and active position of the company’s management, a built-up system of communications with society, and a proactive management policy. At the same time, there are external factors of corporate identity that do not depend on the proactive actions of management. According to the author, the financial market can be the field for establishing indirect communications between corporations and society where many investors are mediating. The stock market-induced corporate identity is forming in the process of this mediation. The driving belt between the financial market and corporate identity is investors’ behavior, moods, preferences, and characteristics of investment choices. Recently emotions and subjective moods are replacing fundamental analysis. As a result, investors selecting the groups of stocks with the most noticeable stories – “story stocks”. These stories provoke their rush of investment demand. Story stocks serve as an integrated concept for “meme stocks”, “hot stocks”, “NFT stocks”, “buzzing stocks”, “concept stocks”, “thematic investing”, “ESG stocks”. The author shows the dynamics and growth of investors’ attention to these groups of stocks in the article. Based on the analysis of quotes and fundamental indicators of story stocks, the author proves that the formation of corporate identity is divorced from internal factors that depend on the corporation itself, its management and shareholders, and increasingly depends on external factors determined by market sentiments of investors. The stock market-induced corporate identity is acquiring an independent role as one of the critical drivers of investors’ behavior. Analysis of story stocks reveals a particular pattern: the more popular and louder the stories of stocks the more their value breaks away from the fundamental indicators.

Two Similarities, One Firm Value: A Natural Language Processing Study of IPOs’ First-Day Returns

Academy of Management Proceedings, 2021

Belirli sayıdaki bileşenlerin paralel bağlanmasıyla oluşan yapı modül olarak adlandırılır. N tane modülün dairesel veya doğrusal sıralanmasıyla genelleştirilmiş n-den k-çıkışlı sistem elde edilir. Bu çalışmada, doğrusal genelleştirilmiş ağırlıklı n-den k-çıkışlı F sistem önerilmiştir. Bu sistemin güvenilirliği ve sistem imzası elde edilmiştir. Ağırlıklı sistemlerde her bir bileşenin sisteme katkısı farklı olduğundan bu katkı bileşen ağırlığı olarak ifade edilir. Sistemdeki her bir bileşenin kendine ait ağırlığı ve çalışma olasılığı vardır. Modülü oluşturan bileşenlerin toplam ağırlığına modül ağırlığı denir. Ardışık arızalı modüllerin toplam ağırlığı en az k olduğunda veya sistemdeki arızalı bileşenlerin toplam ağırlığı en az τ olduğunda doğrusal genelleştirilmiş ağırlıklı n-den k-çıkışlı F sistem arızalanır.

Phonetic Symbolism and Brand Name Preference

Journal of Consumer Research, 2007

Two experiments investigated the effects of phonetic symbolism on brand name preference. Participants indicated preference for fictitious brand names for particular products (or for products with particular attributes) from word pairs that differed only on vowel sound (e.g., front vs. back vowels, or vowel sounds associated with positive vs. negative concepts). Participants preferred brand names more when the attributes connoted by the vowel sounds (e.g., small, sharp) were positive for a product category (e.g., convertible, knife), but they preferred the same names less when the attributes connoted were negative for a product category (e.g., sport utility vehicle, hammer). However, words with negative vowel sounds were least preferred regardless of product category or attribute.

A Sound Idea: Phonetic Effects of Brand Names on Consumer Judgments

Journal of Consumer Research, 2004

In this article we examine a phenomenon known as sound symbolism, where the sound of a word conveys meanings. Specifically, brand names are composed of individual sounds called phonemes and we investigate how this phonetic structure of brand names affects a consumer's evaluation of products and their underlying attributes. We demonstrate that consumers use information they gather from phonemes in brand names to infer product attributes and to evaluate brands. We also demonstrate that the manner in which phonetic effects of brand names manifest is automatic in as much as it is uncontrollable, outside awareness and effortless.

Sound symbolism effects across languages: Implications for global brand names

International Journal of Research in Marketing, 2012

Selecting good brand names for products is a critical step for marketers, and many aspects of a brand name influence brand perceptions. Three experiments investigated the effects of phonetic symbolism (the impact of sound on meaning) on brand name preference, the extent to which these effects generalize to other languages, and the processes that underlie these effects. When choosing brand names, French-, Spanish-, and Chinese-speaking participants who were bilingual in English preferred words in which there was a match between the phonetic symbolism of the words and the product attributes. These results were unaffected by whether participants completed the study in their first or second language, by second-language proficiency, or by whether the Chinese language representations were in logographic or alphabetic form. These findings replicate those of and indicate that phonetic symbolism effects for brand name perceptions can generalize across languages, and thus suggest that marketers may be able to embed universal meaning in their brand names.