haku: @indexterm EVENT STUDIES / yhteensä: 51
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| Tekijä: | Filbeck, G. Preece, D. |
| Otsikko: | Fortune's Best 100 Companies to Work for in America: Do They Work for Shareholders? |
| Lehti: | Journal of Business Finance and Accounting
2003 : JUN/JUL, VOL. 30:5-6, p. 771-798 |
| Asiasana: | INVESTMENT PORTFOLIO MANAGEMENT EVENT STUDIES FINANCE MARKET EFFICIENCY |
| Kieli: | eng |
| Tiivistelmä: | In this paper, the authors examine the market reaction to the announcement by Fortune of the 'Best 100 Companies to Work for in America.' To examine long-term performance, the authors calculate raw and risk-adjusted returns and then compare them to the returns of a matched sample of firms. In addition, the authors calculate the return on a buy and hold investment in the sample firm less the return on a buy-and-hold investment in a matched sample firm (BHARs). The authors find a statistically significant positive response to the announcement of the '100 best companies to work for' by Fortune. The BHAR results, although not exhibiting the level of statistical significance, are consistent with the raw and risk-adjusted return results. |
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