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Cited by 828

The DOI matches its Crossref record; 36 of the 36 references it cites were found in a registry or an index.

Does Corporate Headquarters Location Matter for Stock Returns?

Open access
PIRINSKY, CHRISTO, WANG, QINGHAI·2006·The Journal of Finance
DOI 10.1111/j.1540-6261.2006.00895.x
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Abstract

We document strong comovement in the stock returns of firms headquartered in the same geographic area. Moreover, stocks of companies that change their headquarters location experience a decrease in their comovement with stocks from the old location and an increase in their comovement with stocks from the new location. The local comovement of stock returns is not explained by economic fundamentals and is stronger for smaller firms with more individual investors and in regions with less financially sophisticated residents. We argue that price formation in equity markets has a significant geographic component linked to the trading patterns of local residents.

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Crossref · 10.1111/j.1540-6261.2006.00895.x

Cites

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Metadata

Authors
PIRINSKY, C., & WANG, Q.
Venue
The Journal of Finance
Publisher
Wiley
Published
2006-08
Volume
61
Issue
4
Pages
1991-2015
ISSN
  • 0022-1082 (ISSN-L)
  • 1540-6261
DOI
10.1111/j.1540-6261.2006.00895.x
OpenAlex
W3122594041
Cited by
828
References
36
FWCI
22.71
Type
journal article
Language
en
Open access
green

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CoChat. (2026). Citation check: Does Corporate Headquarters Location Matter for Stock Returns? https://app.cochat.ai/papers/10.1111/j.1540-6261.2006.00895.x
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PIRINSKY, C., & WANG, Q. (2006). Does Corporate Headquarters Location Matter for Stock Returns? The Journal of Finance. https://doi.org/10.1111/j.1540-6261.2006.00895.x

Data sources

Bibliographic data: Semantic Scholar, OpenAlex, Crossref.

Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).

Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.