What's in a “China” Name? A Test of Investor Attention Hypothesis
研究在美国上市的中国公司，名字里带“中国”二字是否影响投资者关注和公司估值，发现2007年中国股市繁荣期间，这类股票表现显著更好，支持投资者关注假说。
We study whether a firm's name affects investor attention and firm valuation. Some Chinese firms listed on US stock exchanges have the word “China” included in their company names (“China‐name stocks”), while others do not (“non‐China‐name stocks”). During the 2007 China stock market boom, we find that China‐name stocks significantly outperform non‐China‐name stocks. This is not due to differences in firm characteristics, risk, or liquidity. The “China‐name effect” is largely consistent with the investor attention hypothesis that price pressure caused by increased investor attention on China‐name stocks during the boom period drives up China‐name stocks more than non‐China‐name stocks.