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Full-Text Articles in Business
More Accounting Changes: Financial Reporting Through The Age Of Crisis And Globalization, Robert Bloom
More Accounting Changes: Financial Reporting Through The Age Of Crisis And Globalization, Robert Bloom
2017 Faculty Bibliography
No abstract provided.
Can Investors Benefit From Using Morningstar's Stewardship Grades?, Scott B. Moore, Gary E. Porter
Can Investors Benefit From Using Morningstar's Stewardship Grades?, Scott B. Moore, Gary E. Porter
2017 Faculty Bibliography
Interest in governance led Morningstar to develop a summary measure for mutual fund governance. In contrast to previous work in this area, we focus on whether and how individual investors can use the Stewardship Grade Overall to improve mutual fund selection. We find that regardless of fee structure, top overall governance grade funds impose lower costs on investors regardless of fund investment style. We also find some evidence that choosing funds with the highest stewardship grade may earn positive risk adjusted returns. Stewardship Grade overall may therefore help less sophisticated investors identify better-performing mutual funds.