Kurtz and Luck (2002)
Kurtz, Lloyd and Chris Luck. "An Attribution Analysis of the 100 Best Companies to Work for in America." Presentation to Northfield Investment Conference, Fish Camp, California, May 5-7, 2002.
Reviews the performance of an equal-weighted portfolio based on the book and Fortune magazine list of The 100 Best Companies to Work for in America for the March 1984-February 2002 time period. Using both Northfield and BARRA fundamental factor performance attribution models, the study finds that membership on the list is a positive investment factor even after accounting for conventional investment variables such as beta, price/earnings ratio, and industry representation. The effect was present in each of the three subperiods reviewed..