I.Baranov - Bank name and success
•
1 like•434 views
Abstract: There are many ‘in vitro’ experiments exploring connections between the customer’s perception of goods or services and their name properties, e.g., purchase intention. Nevertheless, there is a lack of papers examining the connection between actual commercial names ‘in vivo’ and the success of the corresponding businesses. Russian bank names are the subject of this investigation. We used two success indexes: bank lifetime and assets. Lifetimes were investigated by survival analysis in 1988–2014 years; assets were studied by general linear regression in 2006–2014 years. It was founded that in regions with smaller gross domestic product (GDP), names had a stronger correlation with the bank’s success indexes than names in regions with a higher GDP. Bank assets are more sensitive to name differences than bank lifetimes. Name properties that accompany bank success are masculine gender, absence of negative connotations, and presence of typical banking industry morpheme in addition to ‘bank’. Those names contain several morphemes with different topics, have ‘bank’ descriptor at the end of name and are longer than average name in banking industry.
Recommended
More Related Content
Similar to I.Baranov - Bank name and success
Similar to I.Baranov - Bank name and success (20)
Recently uploaded
Recently uploaded (20)
I.Baranov - Bank name and success
- 1. Bank Name and Success: a statistical approach ILIA BARANOV Names in the Economy V(erona), 24–27, June, 2015 www.brnd.name Moscow, Russia
- 2. Intro| Methods | Data | Results | Conclusion • An amount of quantitative studies of real business names is much smaller than laboratory experiments. • Very few works concern finance services names. 2 In vitro vs. in vivo I.Baranov. Bank Name and Success. NITE V, june 2015 BRAND NAMES
- 3. Intro| Methods | Data | Results | Conclusion Does it really exist connection between bank name and its success? If the connection exists, how strong is it? 3 Questions I.Baranov. Bank Name and Success. NITE V, june 2015
- 4. Intro| Methods | Data | Results | Conclusion Good name • Short • Meaningful • Evocative • Euphonic • Suggestive • Unique • Congruent with its object (in sound, gender, meaning) 4 I.Baranov. Bank Name and Success. NITE V, june 2015 FMCG
- 5. Intro| Methods | Data | Results | Conclusion Service vs. goods names Low tangibility of services could be compensated by their high tangible names: •Long in letters and words •Descriptive (not evocative) •More difficult to pronounce •Follow industry traditions (not unique) 5 I.Baranov. Bank Name and Success. NITE V, june 2015
- 6. Intro| Methods | Data | Results | Conclusion More successful banks associated with names that are more related to banking and more tangible than the rest, i.e.: 1.have masculine gender, contain frequent industry attributes and indicate the scope of activity; 2.are meaningful, evocative, polysemantic and a longer than average bank name length. 6 Hypotheses I.Baranov. Bank Name and Success. NITE V, june 2015
- 7. Intro| Methods | Data | Results | Conclusion 7 Name proprties to check I.Baranov. Bank Name and Success. NITE V, june 2015
- 8. Intro| Methods | Data | Results | Conclusion 1. Bank lifespan in the market 2. Bank assets 8 How to measure the success I.Baranov. Bank Name and Success. NITE V, June 2015
- 9. Two methods
- 10. Intro | Methods | Data | Results | Conclusion Alive banks 10 1. Survival analysis I.Baranov. Bank Name and Success. NITE V, June 2015 Dead banks Period of study
- 11. Intro | Methods | Data | Results | Conclusion 11 Kaplan-Meier graph I.Baranov. Bank Name and Success. NITE V, June 2015 p <.001 (Gehan's Wilcoxon test) Foreign banks Russian banks 5 15 25 1.0 0.5 0.0 Cumulative proportion surviving Time, years
- 12. Intro | Methods | Data | Results | Conclusion ‘Assets’: Natural Logarithm of (bank annual share in total assets × 106 ) 12 2. General linear regression I.Baranov. Bank Name and Success. NITE V, June 2015 Arbitrary Unclear R2 adj = 0.7% p = .002 (chi-square test) Assets Topic
- 13. Data
- 14. Intro | Methods | Data | Results | Conclusion 14 Bank Big Bang I. Baranov. Bank Name and Success. NITE V, June 2015 Similar starting conditions (chaos) in economy and language. ¾ of banks began in 5 years.
- 15. Intro | Methods | Data | Results | Conclusion 15 Samples I. Baranov. Bank Name and Success. NITE V, June 2015 1. Survival analysis: 1988–2014; N = 2,810 2. Assets: 2006–2014; N = 5,932 Excluded: •Bank groups, •Foreign & State banks •Agricultural, Dagestan located. Sources: The Central Bank of the Russian Federation, Interfax-100 Ranking, banki.ru
- 16. Intro | Methods | Data | Results | Conclusion The more region GDP, the more survival time and assets of the regional banks. 16 GDP control I. Baranov. Bank Name and Success. NITE V, June 2015 Moscow High GDP Middle+low GDP (= ‘Midlow’) GDP = Gross domestic product
- 17. Results All differences are statistically significant at p < 0.05
- 18. Intro | Methods | Data | Results | Conclusion Moscow: No difference 18 Gender: survival I. Baranov. Bank Name and Success. NITE V, June 2015 Regions: Masculine names survive better than feminine ones. 90% bank names are of masculine gender. p = .011 p = .290
- 19. Intro | Methods | Data | Results | Conclusion Masculine names have bigger assets than feminine names. Average difference is € ~112 mln. 19 Gender: assets I. Baranov. Bank Name and Success. NITE V, June 2015 Moscow and ‘High’ regions Feminine Masculine Assets ‘Midlow’ regions R2 adj = 4.3% p <.001Gender
- 20. Intro | Methods | Data | Results | Conclusion 20Topic I. Baranov. Bank Name and Success. NITE V, June 2015 Topic Description % Agnonym Unclear meaning 17 Georgraphy Toponyms, regions, cardinal points 32 Branch Focus on industries, excl. oil & gas 9 Arbitrary No obvious relation to business 6 Size Big size, leadership, power 6 Customer Customer or social 5 Business Business in general, without commerce 5 Foreign Clearly foreign sounding 4 Finance Finances, wealth, if no other topic 4 A la russ Old Russia, Slavdom, Orthodoxy 3 Anthroponym Anthroponyms, except ‘Foreign’ 1 Myth Mythical characters, astronyms 1 Others State attachment, Europe, oil & gas 7 Total 100
- 21. Intro | Methods | Data | Results | Conclusion • Names with unclear meaning (‘Agnonym’) survive worse than the meaningful names. • Assets of ‘Agnonym’ are indistinguishable from the rest. • ‘Arbitrary’ and ‘Finance’ have less survival rate than ‘Customer’, ‘Geography’ and ‘Business’. 21 Topic I. Baranov. Bank Name and Success. NITE V, June 2015
- 22. Intro | Methods | Data | Results | Conclusion The more frequent the topic (except ‘Other’ and ‘Agnonym’), the higher the assets. 22 Assets and Topic Frequency I. Baranov. Bank Name and Success. NITE V, June 2015
- 23. Intro | Methods | Data | Results | Conclusion • Names attributed to several topics, e.g. ‘Russian Transport’, ‘Moscow Construction’. • 20% in the survival sample. • Polysemantic names survives better than the rest only for ‘Midlow’ regions. • Assets of polysemantic names are higher than others, in all region groups. 23 Polysemy I. Baranov. Bank Name and Success. NITE V, June 2015
- 24. Intro | Methods | Data | Results | Conclusion Moscow Midlow 0 1 2 FF 24 Frequent fragments (FF) I. Baranov. Bank Name and Success. NITE V, June 2015 FF % names no 57 1 26 2 15 3 2 4 0 (N=8) 5 0 (N=1) Total 100 69 morphemes, their parts and complexes. FF = 1 or 2 live longer and have bigger assets than others. Assets
- 25. Intro | Methods | Data | Results | Conclusion Assets: Unrelated < Direct = Indirect Survival in regions:Unrelated < Indirect < Direct 25 Banking category relation I. Baranov. Bank Name and Success. NITE V, June 2015 Category relation Description % Examples Direct At least one word directly refers to ‘Finance’ 11 Master-Capital, Standard Credit Indirect At least one word indirectly is related to ‘Finance’ or indicates the business 22 Taler, Platinum, Bank for intersectoral industrial integration Unrelated Other names 67 Total 100
- 26. Intro | Methods | Data | Results | Conclusion 25% names are evocative. Evocative names are less surviving than abstract ones. No connection in Moscow and ‘High’ regions. Assets has a subtle but positive connection with evocativeness. 26 Evocativeness I. Baranov. Bank Name and Success. NITE V, June 2015 Evocative Abstract Surviving times for regions with ‘Midlow’ GDP
- 27. Intro | Methods | Data | Results | Conclusion 2% ‘Wow’: Second Bank, The Terrans, Squirrel, Zhivago. •No difference with others in both surviving and assets. 7% ‘Boo’: KHEI(sounds like cough), PSA Finans (DOG’s finances), Bum-bank (bang), Pytalovo (torturing), Minusa (losses). • Less surviving and assets than neutral names. 27 Bizarre names I. Baranov. Bank Name and Success. NITE V, June 2015
- 28. Intro | Methods | Data | Results | Conclusion Survival rate is not associated with the name form. ‘Noun’ have fewer assets than other forms. 28 Name form I. Baranov. Bank Name and Success. NITE V, June 2015 Form % Examples AcRo 36 Promstroybank, Khlebobank Noun 28 Bank Molniya, Nota Bank Adjective 17 Prohladny, Mezhregionalny investicionno-raschetny XYZ 10 DVSKBank, B.A.M.-Bank, Bi-Si-Di-Bank Numerics 1 Pokrovsky'92, M2M Prayvet bank, Pervy Russky Nezavisimy Bank Other 8 Mestny kredit, Razvitie Stolica, Bank Razvitiya Regiona Total 100
- 29. Intro | Methods | Data | Results | Conclusion Survival and assets of ‘_b’ banks are higher than the rest. 29 Bank locus I. Baranov. Bank Name and Success. NITE V, June 2015 Bank locus % Examples b_ 46 Bank Polyarnaya zvezda zb 30 Komisoyuzkoopbank _b 11.5 Velikie Luki Bank; Beloglinsky Bank ~b 10.5 Marks-Bank; Engels-Bank Other 2 Bankhaus Erbe; Bank-Gerd Avtomobilny Bankirsky Dom Total 100
- 30. Intro | Methods | Data | Results | Conclusion •2-word names are of 5.5 times rarer than 1-word. •Monosemantic 2-word names have bigger assets than 1-word names; •Meaningful 1-word: the longer the name, the bigger assets. •Meaningless 1-word: the shorter the name, the bigger assets. •There are no effects found on survival. 30 Length, without bank I. Baranov. Bank Name and Success. NITE V, June 2015
- 31. Conclusion
- 32. Intro | Methods | Data | Results | Conclusion 32 Overview I. Baranov. Bank Name and Success. NITE V, June 2015 Attribute Survival Assets Gender Feminine < Masculine Meaning Agno < meaning — Topic — Rare < Freq Polysemy No < Yes Freq. fragmnts > 0 Catgry relation No < Indir < Dir No < Dir = Indir Evocativeness Yes < No No < Yes Bizarre Boo < Wow = Neutral Form — Noun < other ‘Bank’ locus b_< (~b) < zb < _b ~b < b_ < _b Length — Longer = better Words — 1 < 2 4 vs.3 (5) 3 vs.6 (3) Frequent / infrequent
- 33. Intro | Methods | Data | Results | Conclusion More successful banks have names that are: 1.more related to the banking industry: A. masculine gender — YES B. have high frequency attributes — NO C. indicate the scope of activity — YES 2.more tangible: A. have a clear meaning — YES B. evocative — ? C. polysemantic — YES D. longer than the average length — YES Hypotheses check 33 I.Baranov. Bank Name and Success. NITE V, june 2015
- 34. Intro | Methods | Data | Results | Conclusion Does it really exist connection between bank name and success? – YES. How strong the connection is? – About 1% of variation, or € +100 mln in asets per year. 34 Answers I. Baranov. Bank Name and Success. NITE V, June 2015
- 35. Intro | Methods | Data | Results | Conclusion • Masculine gender. • No negative connotations. • ‘Bank’ at the end of the name. • Typical banking industry morpheme in addition to ‘bank’. • Several morphemes with different topics (not a single noun). => Longer than average banking industry name. Good bank name 35 I.Baranov. Bank Name and Success. NITE V, june 2015
- 36. Intro | Methods | Data | Results | Conclusion Selected bibliography
Editor's Notes
- Presentations will last 20 minutes (plus 10 min. for discussion).
- There is a lack of quantitative studies concerning names efficiency in real business. quantitativeˈkwäntəˌtātiv
- we try to answer two questions. The first is Does it really exist correlation between bank name and its success? And if the connection exists, how strong is it?
- Here are common properties of good name from marketing and linguistic studies. It could be Short, Meaningful, Evocative and so on. But these rules were established mostly for the fast moving consumer goods. Evocative - iˈväkətiv - Bringing strong images, memories, or feelings to mind. Euphonic – yufonik Congruent - kənˈgro͞oənt,ˈkäNGgro͞oənt
- Services names could violate these rules to compensate for lower tangibility of services compared with goods. Services names could be longer than goods names They could be more descriptive, Could have some difficulties in pronunciation And could be not so unique as goods names tangible – [tandjibl] Frequent – [frikvent]
- We assumed that more successful banks have more traditional and more tangible names. It means that they have masculine gender the same as word ‘bank’, contain frequent industry attributes and indicate the scope of activity; 2. are meaningful, evocative, polysemantic, and a longer than the average bank name length. Hypotheses - hīˈpäTHəsis attributes - atribyuts
- We studied these properties in relation to bank success. They concern semantics and morphology of the name. Phonetics and pragmatics is out of this study.
- To measure the success we used two indexes: Bank Lifespan in the market Bank assets Assets – [asets]
- And two methods for measuring
- To compare life spans we used survival analysis. This statistical method is well known in medicine and insurance. It allows to count dead and still alive banks together. Allows - [elauz] Censored - [sensed]
- This is an example of surviving analysis result. Horizontal axis marks the bank lifespan, and vertical axis marks the probability to live up to that lifespan. The higher the graph, the better the lifespan. [akses] Gehan – gihan он Эдмунд Альфеус, из бруклина.
- General regression investigates the correlation of name properties with bank assets. Here is the difference between names with unclear meaning and arbitrary semantics. It is little but statistically significant. P is significance level, R-square adjusted shows the value of explained variation. Linear – linia sigˈnifikənt
- Our data
- most of modern Russia banks began in short period. We assume that it means similar starting conditions in economy and language. chaosˈkāˌäs (keios)
- For survival analysis we gathered data in 25 years. And For assets in 8 years. Assets of each bank were counted each year. We excluded some banks with very different behavior. Dagestanien
- To obtain more homogeneous samples, we studied Moscow and regions with different GDP separately. Moscow is not Russia, we say.
- results
- Grammatical gender is a clear example for both methods usage. The Russian word &apos;bank&apos; has masculine gender; And 9/10 of bank names are of a masculine gender. In regions, masculine names survive significantly better than feminine. There is no difference in Moscow.
- Masculine names has bigger assets than feminine gender. Average assets in ‘Midlow’ regions are lower, but gender difference is much more than in Moscow and ‘High’ regions. Euroˈyo͝orō, Per year
- Several thematic groups have been identified. Geography is the biggest topic, it’s almost a third of the sample. Agnonyms, that are names with unclear meaning, and arbitrary names are prominent groups too. Toponym Credit - kredit
- We found that Agnonyms survive worse than meaningful names in total. But Assets of ‘Agnonyms’ are the same as the rest. ‘Arbitrary’ and ‘Finance’ topics have less survival rate than ‘Customer’, ‘geography’, and ‘Business’. Topics. Agnonym – agnonem worse - wos Arbitrary – abiterey Finance – fainens Менее конкретные хуже более конкретных
- The more frequent the topic, the higher the assets. some topics are not subject to this rule. They are Moscow, state-like, oil and gas topics.
- Names attributed to several topics we called polysemantic. They are not so frequent, And They survive better than the rest in ‘Midlow’ regions. Assets of polysemantic names are higher than monosemantic ones. attributed Polysemy Polysemantic
- Then we selected frequent fragments of names. For example: International. Russian. Development. Credit. It’s interesting that Names with FF are not most frequent in a sample, because a lot of names contain 2 FF. Names with FF have better results than names without them. prefixes - prifikses Mezhdunarodny kommerchesky bank razvitiya investiciy i tehnologiy (International Commerce Bank for Development of Investments and Technologies). morphims
- Category related names are not frequent too. And they have better survival and better assets than unrelated names. Directly – dairektli
- evocative names appeal to our senses, especially to sight. For example, orange or Gold are evocative words; credit or investment are abstract names. Evocative bank names are not frequent and have less surviving rate than abstract ones. But Assets has positive connection with evocativeness. Bringing strong images, memories, or feelings to mind.
- Bizarre names are rare among bank names. Wow names, without negative connotations, have no difference with neutral names in lifespan and assets. Boo Names, with negative sounding, are less surviving and have smaller assets than neutrals. Bizarre - biˈzär
- The most common name form is syllable acronym. Single Nouns are frequent too but they have the lowest assets among other forms. And here we didn’t find differences in survival. acronymˈakrəˌnim Numerals and numbers; Others are collocations.
- The mandatory descriptor bank is usually located in one of the four ways: a single word before a final of acronym, a single word at the end, And a final separated by hyphen. We found that both survival and assets of names with bank word at the end are higher than the rest. mandatoryˈmandəˌtôrē Descriptor - diˈskriptər diˈskriptiv ˈmôrˌfēm hyphenˈhaifən
- The longer the name, the more assets, except agnonyms. There are no effects found on survival.
- Here Frequent attributes are blue and infrequent are brown. We cannot say that frequency is commonly accompanied with success. But names that more related to the industry associate with more successful banks. Both methods show the consistency in results except evocativeness. Assets are more sensitive to the name properties than survival.
- Our hypotheses are generally confirmed. Higher assets and better survival associate with banks names that are more related to the industry but not always frequent. Those names are more tangible.
- So we think that connection between name and real banks success does exist. Good name explains about 1 percent of assets variation, And, other things being equal, the profit of right name would be tangible. ceteris paribus
- So, we could recommend banks to use names with such properties as: Of a Masculine gender. With No negative connotations. Having word Bank at the end of the name. Containing Typical banking industry morpheme in addition to bank. Several morphemes with different topics (not use a single noun). And as a consequence, it could be longer than average banking industry name. Typical - tipikel