Company name fluency and acquisition target analysis
研究了公司名称的流畅度（读起来顺不顺口）如何影响其被收购的可能性和收购溢价，发现名称越顺口的公司越容易被收购且溢价更高，原因包括减少对顶级投行的依赖和更高的协同效应。
Abstract This paper investigates the impact of company name fluency on acquisitions. We hypothesize that a company's name fluency, used by potential acquirers as a mental shortcut, influences not only its visibility to investors but also the level of interest from potential acquirers, increasing the company's acquisition probability. After correcting for endogeneity, company name fluency is positively associated with both the probability of being an acquisition target and an acquisition premium. Reasons for a higher acquisition premium for targets with higher name fluency are identified as reduced need to hire top‐tier investment banks and higher synergy.