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  • 2010 Summer: Volume 8, Issue 1
  • The Impact of Morningstar Five-Star Stock Ratings

    • Shantanu Namjoshi ;
    • Kent A. Hickman

    Use this link to view the PDF file: The Impact of Morningstar Five-Star Stock Ratings

    Title:

    The Impact of Morningstar Five-Star Stock Ratings

    Author(s):

    Shantanu Namjoshi
    Kent A. Hickman

    Publication Date:

    2010

    Journal Title:

    The Journal of Finance Issues

    Volume Number:

    8

    Issue Number:

    1

    Abstract:

    We examine the behavior of stocks whose ratings by Morningstar are up-graded to the highest Five Star category. Our findings show that these up-grades follow a period of poor performance, are met with significant negative responses, and seem to foretell slightly improved performance relative to the pre-up-grade period. Additionally, trading volume is markedly higher at Morningstar’s announcement.

    First Page:

    38

    Last Page:

    42

    Total Pages:

    4