Investor Confusion and Similarly Identified Securities

19 Pages Posted: 11 Dec 2007

See all articles by John Richard (Dick) Davies

John Richard (Dick) Davies

University of Strathclyde - Department of Accounting and Finance

David Hillier

University of Strathclyde - Department of Accounting and Finance

Juliane Thamm

University of Strathclyde - Department of Accounting and Finance

Abstract

This paper extends the analysis of Rashes (2001) to examine the co-movement of prices for a sample of UK equity securities with similar ticker symbols and names. In contrast to Rashes (2001), we find only limited evidence of price changes that could be attributed to ticker symbol or name confusion. Our results suggest that any such confusion, if it exists at all, is most likely confined to very short time horizons and is not a systematic occurrence for similarly identified securities.

JEL Classification: G12

Suggested Citation

Davies, John Richard (Dick) and Hillier, David and Thamm, Juliane, Investor Confusion and Similarly Identified Securities. Accounting & Finance, Vol. 47, No. 4, pp. 693-711, December 2007. Available at SSRN: https://ssrn.com/abstract=1067084 or http://dx.doi.org/10.1111/j.1467-629X.2007.00223.x

John Richard (Dick) Davies (Contact Author)

University of Strathclyde - Department of Accounting and Finance ( email )

Curran Building
100 Cathedral Street
Glasgow G4 0LN
United Kingdom

David Hillier

University of Strathclyde - Department of Accounting and Finance ( email )

Curran Building
100 Cathedral Street
Glasgow G4 0LN
United Kingdom
44 0141 330 4809 (Phone)
44 0141 330 4442 (Fax)

Juliane Thamm

University of Strathclyde - Department of Accounting and Finance ( email )

Curran Building
100 Cathedral Street
Glasgow G4 0LN
United Kingdom

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