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Morningstar Ratings and Mututal Fund Manager Turnover

John M. Barron & Jinlan Ni

Journal of Applied Finance: theory, practice, education2013article
ABDC C
Weight
0.40

What the paper says

This paper investigates the effect of Morningstar ratings on mutual fund manager replacement. We find that not only do Morningstar ratings affect the likelihood fund managers are replaced, but that Morningstar ratings are better predictors of manager replacement than alternative measures of fund performance. This finding is consistent with the finding that mutual fund investors respond to the Morningstar measure of performance. We also examine the changes in the management structure of funds that are made in conjunction with manager replacement in response to poor performance. JEL Classification: G23, L14

3 citations

Cite this paper

@article{john2013,
  title        = {{Morningstar Ratings and Mututal Fund Manager Turnover}},
  author       = {John M. Barron & Jinlan Ni},
  journal      = {Journal of Applied Finance: theory, practice, education},
  year         = {2013},
}

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Evidence weight

0.40

Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40

F · citation impact0.15 × 0.4 = 0.06
M · momentum0.80 × 0.15 = 0.12
V · venue signal0.50 × 0.05 = 0.03
R · text relevance †0.50 × 0.4 = 0.20

† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.