Medina, Paolina C.; Mittal, Vrinda; Pagel, Michaela - National Bureau of Economic Research - 2021
In this study, we quantify the effects of receiving stocks from certain brands on spending in the brand's stores. We … holdings of that brand by Robinhood brokerage clients. Finally, we present survey evidence to argue that loyalty is the … drives brand loyalty, which is an intangible asset that leads to lower firm cash flow volatility …
