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.

This study is available online here.