EconPapers    
Economics at your fingertips  
 

Is all that glitters gold? A look atFortune magazine’s 100 Fastest-Growing Companies

Anthony Thomas Garcia, Anthony Loviscek and Kangzhen Xie

Managerial Finance, 2019, vol. 45, issue 7, 827-841

Abstract: Purpose - Does Design/methodology/approach - Using data for 26 annual periods, 1991–2016, the paper examines the top 5, 10, 25, 50 and all 100 stocks on a return-risk basis, including an application of Modern Portfolio Theory. To generate portfolio performance metrics, the study uses conventional mean-variance analysis, which includes the estimation of returns and risks, where risk will be measured by standard deviation and Findings - The study finds that the returns are not high enough nor are the risks low enough statistically to conclude the existence of significant information content. Research limitations/implications - As part of the authors’ efforts to move to the population of 2,600 firms as closely as possible, the authors use “delisting” returns from CRSP on 120 firms to account for missing observations, with a final sample size of 2,594 firms. Practical implications - The evidence indicates that investors drawn to Originality/value - On the basis of the results of this study, readers will conclude that subscribers drawn to

Keywords: Risks; Returns; Portfolios; Sharpe ratio (search for similar items in EconPapers)
Date: 2019
References: Add references at CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
http://www.emeraldinsight.com/10.1108/MF-10-2017-0 ... RePEc&WT.mc_id=RePEc (text/html)
Access to full text is restricted to subscribers

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eme:mfipps:mf-10-2017-0428

Ordering information: This journal article can be ordered from
Emerald Group Publishing, Howard House, Wagon Lane, Bingley, BD16 1WA, UK
http://emeraldgroupp ... s/journals.htm?id=mf

Access Statistics for this article

Managerial Finance is currently edited by Professor Don T Johnson

More articles in Managerial Finance from Emerald Group Publishing
Bibliographic data for series maintained by Virginia Chapman ().

 
Page updated 2019-08-09
Handle: RePEc:eme:mfipps:mf-10-2017-0428