Are High-Quality Firms Also High-Quality Investments?

6 Pages Posted: 4 May 2005

See all articles by Peter Antunovich

Peter Antunovich

Morgan Stanley Dean Witter & Co. Inc.

David Laster

Swiss Re Economic Research & Consulting

Scott Mitnick

Independent

Abstract

The relationship between corporate reputation and investment results is the subject of ongoing debate. Some argue that high-quality firms ultimately provide superior stock price performance; others counter that stock prices already reflect these firms' prospects for growth and profitability. This study advances the debate by providing fresh evidence that investing in high-quality firms yields above-average returns and that these superior returns continue for up to five years.

Keywords: corporate reputation, market efficiency, stock returns

JEL Classification: G12, G11, G14

Suggested Citation

Antunovich, Peter and Laster, David and Mitnick, Scott, Are High-Quality Firms Also High-Quality Investments?. Available at SSRN: https://ssrn.com/abstract=716602

Peter Antunovich (Contact Author)

Morgan Stanley Dean Witter & Co. Inc. ( email )

1585 Broadway
New York, NY 10036
United States

David Laster

Swiss Re Economic Research & Consulting ( email )

55 East 52nd St
New York, NY 10055
United States
(212) 317-5587 (Phone)
(212) 317-5455 (Fax)

Scott Mitnick

Independent

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