Date of Award
Spring 5-2025
Document Type
Thesis
Degree Name
Master of Science (MS)
Department
Behavioral and Computational Economics
First Advisor
David Porter
Second Advisor
Stephen Rassenti
Abstract
Over the past decade, people and companies have left California for myriad reasons. This paper examines the effect of announcing a headquarters relocation on a firm's stock price. Using traditional event study methodology, I analyze over 400 move announcements from 2004-2024 to find a positive abnormal return in the short run when firms announce that they are moving their headquarters. There is a pronounced impact on stock prices for firms leaving California and moving to Texas.
DOI
10.36837/chapman.000677
Creative Commons License
This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License.
Recommended Citation
Hazlett, Marilyn Giselle. "Leaving California: The Price Impact of Announcing a Headquarters Relocation." Master's thesis, Chapman University, 2025. https://doi.org/10.36837/chapman.000677
