Stewardship And Financial Performance In Wide-Moat Firms

Previous research has shown that the historical appreciation of Morningstar wide-moat companies exceeds that of benchmark indices.  In the case of mutual funds, prior work has also demonstrated the significance of Morningstar’s stewardship grade in partially explaining such out performance.  The pre...

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Bibliographic Details
Published in:Journal of business & economics research (Littleton, Colo.) Colo.), 2011-02, Vol.6 (4)
Main Authors: Boyd, David P., Yilmaz, Mustafa
Format: Article
Language:English
Online Access:Get full text
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Summary:Previous research has shown that the historical appreciation of Morningstar wide-moat companies exceeds that of benchmark indices.  In the case of mutual funds, prior work has also demonstrated the significance of Morningstar’s stewardship grade in partially explaining such out performance.  The present study examines 181 wide-moat companies and assesses whether stewardship has a comparable influence on the financial performance of individual firms.
ISSN:1542-4448
2157-8893
DOI:10.19030/jber.v6i4.2404