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Investor confusion and similarly identified securities
Author(s) -
Davies J. R.,
Hillier David,
Thamm Juliane
Publication year - 2007
Publication title -
accounting and finance
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.645
H-Index - 49
eISSN - 1467-629X
pISSN - 0810-5391
DOI - 10.1111/j.1467-629x.2007.00223.x
Subject(s) - confusion , equity (law) , contrast (vision) , sample (material) , stock (firearms) , business , financial economics , monetary economics , economics , actuarial science , psychology , political science , history , law , computer science , chemistry , archaeology , chromatography , artificial intelligence , psychoanalysis
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.