TY  - UNPD
A1  - Latino, Carmelo
T1  - Surfing the Green Wave: What’s in a "green" name change?
N2  - This paper investigates stock market reaction to greenwashing by analyzing a new channel whereby companies change their names to green-related ones (i.e., names that evoke green and sustainable sentiments) to persuade the public that their activities are green. The findings reveal a striking positive stock price reaction to the announcement of corporate name changes to green-related names only for companies not involved in green activities at the time of the announcement. However, over an extended period of time, companies unrelated to green activities experience substantial negative abnormal returns if they fail to align their operational focus with the new name after the change.
T3  - SAFE working paper - 410 
KW  - Corporate Social Responsibility
KW  - Sustainable Investments
KW  - Greenwashing
KW  - Corporate Name Change
Y1  - 2023
UR  - http://publikationen.ub.uni-frankfurt.de/frontdoor/index/index/docId/71544
UR  - https://nbn-resolving.org/urn:nbn:de:hebis:30:3-715442
UR  - https://ssrn.com/abstract=4670504
N1  - The author gratefully acknowledge research and financial support from the Leibniz Institute for Financial Research SAFE, Frankfurt.
PB  - SAFE
CY  - Frankfurt am Main
ER  -