Firm names and profitability in German food processing

IF 3.3 2区 经济学 Q2 AGRICULTURAL ECONOMICS & POLICY
S. Hirsch, Murad Khalilov, T. Dalhaus, A. Mishra
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引用次数: 0

Abstract

We analyse the signalling effect of a strategy known as eponymy whereby owners integrate their name into the company name. Using microdata from German food processors, we find that eponymous companies generate 2.8 per cent-points higher return on assets, which implies additional yearly profits of €253,000 for a median-sized company. The eponymy effect increases with ownership concentration, indicating that the more control an owner holds over the company, the stronger the signalling. Long names ranking low in the alphabetical order mitigate the effect. This study applies a novel approach to investigate the causal effect of firm naming and thus has implications for food processors.
德国食品加工的公司名称和盈利能力
我们分析了一种被称为同名策略的信号效应,即所有者将自己的名字融入公司名称。使用德国食品加工厂的微观数据,我们发现同名公司产生了2.8 %表明资产回报率更高,这意味着中等规模公司的年利润将增加25.3万欧元。同名效应随着所有权集中度的增加而增加,这表明所有者对公司的控制权越多,信号就越强。按字母顺序排名靠后的长名字可以减轻这种影响。这项研究应用了一种新的方法来调查公司命名的因果效应,因此对食品加工商有启示。
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来源期刊
European Review of Agricultural Economics
European Review of Agricultural Economics 管理科学-农业经济与政策
CiteScore
6.60
自引率
5.90%
发文量
25
审稿时长
>24 weeks
期刊介绍: The European Review of Agricultural Economics serves as a forum for innovative theoretical and applied agricultural economics research. The ERAE strives for balanced coverage of economic issues within the broad subject matter of agricultural and food production, consumption and trade, rural development, and resource use and conservation. Topics of specific interest include multiple roles of agriculture; trade and development; industrial organisation of the food sector; institutional dynamics; consumer behaviour; sustainable resource use; bioenergy; agricultural, agri-environmental and rural policy; specific European issues. Methodological articles are welcome. All published papers are at least double peer reviewed and must show originality and innovation. The ERAE also publishes book reviews.
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