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Investing in Fortune's 100 Best Companies to Work for in America

Author

Listed:
  • Cullen F. Goenner

    (University of North Dakota)

Abstract

Each year, since 1998, Fortune magazine has published a list of firms deemed the “100 Best Companies to Work for in America” based on their superior employer-employee relations. This relationship represents an intangible asset that may significantly influence future firm performance. We investigate whether investment strategies that invest in the 100 Best are able to outperform the market. The results indicate that portfolios, consisting of firms on the list, offer higher risk adjusted returns than the S&P 500 over the period 1998-2005.

Suggested Citation

  • Cullen F. Goenner, 2008. "Investing in Fortune's 100 Best Companies to Work for in America," Journal of Economic Insight, Missouri Valley Economic Association, vol. 34(1), pages 1-19.
    • Handle: RePEc:mve:journl:v:34:y:2008:i:1:p:1-19
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    Cited by:

    1. Greg Filbeck & Xin Zhao & Matthew Warnaka, 2022. "Glassdoor's best places to work internationally: Are they best for shareholders?," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 27(4), pages 4350-4363, October.
    2. Edmans, Alex, 2011. "Does the stock market fully value intangibles? Employee satisfaction and equity prices," Journal of Financial Economics, Elsevier, vol. 101(3), pages 621-640, September.

    More about this item

    JEL classification:

    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions

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