{"title":"晨星个股评级的有序概率模型","authors":"R. Brooks, S. Naylor","doi":"10.1080/17446540701736002","DOIUrl":null,"url":null,"abstract":"This article analyses the overall ratings given to individual companies listed in the ‘Morningstar Stocks 2005’, using information provided on the company in that publication. We conduct our analysis using an ordered probit model. We find that the moat size and business risk variables identified by Morningstar are important determinants of ratings. However, we find that the style box variables are insignificant.","PeriodicalId":345744,"journal":{"name":"Applied Financial Economics Letters","volume":"21 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2008-09-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"6","resultStr":"{\"title\":\"An ordered probit model of Morningstar individual stock ratings\",\"authors\":\"R. Brooks, S. Naylor\",\"doi\":\"10.1080/17446540701736002\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"This article analyses the overall ratings given to individual companies listed in the ‘Morningstar Stocks 2005’, using information provided on the company in that publication. We conduct our analysis using an ordered probit model. We find that the moat size and business risk variables identified by Morningstar are important determinants of ratings. However, we find that the style box variables are insignificant.\",\"PeriodicalId\":345744,\"journal\":{\"name\":\"Applied Financial Economics Letters\",\"volume\":\"21 1\",\"pages\":\"0\"},\"PeriodicalIF\":0.0000,\"publicationDate\":\"2008-09-26\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"6\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Applied Financial Economics Letters\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.1080/17446540701736002\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"\",\"JCRName\":\"\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Applied Financial Economics Letters","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1080/17446540701736002","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
An ordered probit model of Morningstar individual stock ratings
This article analyses the overall ratings given to individual companies listed in the ‘Morningstar Stocks 2005’, using information provided on the company in that publication. We conduct our analysis using an ordered probit model. We find that the moat size and business risk variables identified by Morningstar are important determinants of ratings. However, we find that the style box variables are insignificant.
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