LIU Zhi-xin, XU Ning. The Forecast Ability of Morning Star Ratings[J]. Journal of Beijing University of Aeronautics and Astronautics Social Sciences Edition, 2010, 23(1): 54-56.
Citation:
LIU Zhi-xin, XU Ning. The Forecast Ability of Morning Star Ratings[J]. Journal of Beijing University of Aeronautics and Astronautics Social Sciences Edition, 2010, 23(1): 54-56.
LIU Zhi-xin, XU Ning. The Forecast Ability of Morning Star Ratings[J]. Journal of Beijing University of Aeronautics and Astronautics Social Sciences Edition, 2010, 23(1): 54-56.
Citation:
LIU Zhi-xin, XU Ning. The Forecast Ability of Morning Star Ratings[J]. Journal of Beijing University of Aeronautics and Astronautics Social Sciences Edition, 2010, 23(1): 54-56.
We established dynamic panel data with System GMM to test the forecast ability of Morning Star Ratings. We found that Morning Star Ratings cant foret ell the fund future whatever the two models. Moreover, we observed that very few funds are able to maintain their rating even for three months. Comparing the tw o stages after the ratings, we found that the low rating funds improved the rati ng at the cost of higher turnover and risk.
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