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Name Changes and Future Growth: Evidence from the Life Insurance Industry

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  • James M. Carson
  • Cassandra R. Cole
  • Stephen G. Fier

Abstract

Prior research on corporate name changes has largely focused on publicly traded firms and generally does not identify the source of any market or performance effect. In contrast, we consider whether name changes impact firm wealth by increasing revenue and if this revenue is driven by increased policies sold. We examine the impact of name changes using a large sample of life insurers for which detailed financial and operational data are available, including the number of policies in force. The results suggest that corporate name changes have positive wealth effects for insurers and that this effect is driven to some degree by increased policy counts for those insurers that primarily sell to individual consumers.

Suggested Citation

  • James M. Carson & Cassandra R. Cole & Stephen G. Fier, 2016. "Name Changes and Future Growth: Evidence from the Life Insurance Industry," Journal of Insurance Issues, Western Risk and Insurance Association, vol. 39(1), pages 1-37.
    • Handle: RePEc:wri:journl:v:39:y:2016:i:1:p:1-37
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