Expectation and Stock Returns: Evidence from Trademark Applications

Jiaming Zhu

2022

Abstract

This paper tests the hypothesis that companies’ trademark applications on an “intent-to-use” basis deliver messages of new developing lines of products in the future. I collect data from USPTO and use fuzzy match techniques to find the trademark applications for each publicly traded firm in the United States. I find stock prices of the applicants are indistinguishable prior to the application but start to diverge in the month following application. Moreover, I show evidence of a strong correlation between the trademark applications behaviours and stock market index returns. My results imply that the applications of trademarks contain important information of stock prices for firms.

Paper Citation

in Harvard Style

Zhu J. (2022). Expectation and Stock Returns: Evidence from Trademark Applications. In Proceedings of the International Conference on Big Data Economy and Digital Management - Volume 1: BDEDM, ISBN 978-989-758-593-7, pages 973-978. DOI: 10.5220/0011360400003440

in Bibtex Style

@conference{bdedm22,
author={Jiaming Zhu},
title={Expectation and Stock Returns: Evidence from Trademark Applications},
booktitle={Proceedings of the International Conference on Big Data Economy and Digital Management - Volume 1: BDEDM,},
year={2022},
pages={973-978},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0011360400003440},
isbn={978-989-758-593-7},
}

in EndNote Style

TY - CONF

JO - Proceedings of the International Conference on Big Data Economy and Digital Management - Volume 1: BDEDM,
TI - Expectation and Stock Returns: Evidence from Trademark Applications
SN - 978-989-758-593-7
AU - Zhu J.
PY - 2022
SP - 973
EP - 978
DO - 10.5220/0011360400003440