The Impact of a Stock Name Containing "Oriental" on the Share Price

This study focuses on the impact mechanism of the specific naming element "Oriental" in the securities market on stock pricing. Based on the sample of Chinese A-share listed companies from 2015 to 2023, after screening and processing, 33,035 sample-year observations were obtained. Through descriptive statistics, correlation analysis, regression analysis, and robustness tests, three key issues were explored: whether the inclusion of "Oriental" in stock names affects investors' expectations of stock price volatility; whether there is a significant correlation between such naming characteristics and stock price volatility; and whether this correlation remains stable after controlling for corporate fundamentals and governance factors. The results show that companies with "Oriental" in their names account for only 0.9% of the sample, and there is a significant negative correlation between the name containing "Oriental" and stock price volatility. After adding control variables, the stock price volatility of these companies is significantly about 2.225 units lower than that of peer companies. This conclusion remains valid in robustness tests, indicating that the inclusion of "Oriental" in stock names has a stable and significant inhibitory effect on stock price volatility.