Loyola University Chicago Family Firm Stock Index
该指数追踪芝加哥地区上市家族控股企业的股价表现,研究发现其1990-1995年间跑赢本地及全国指数,并论证了价格加权设计优于市值加权。
The Loyola University Chicago Family Firm Stock Index (LUCFFSI) tracks the performance of publicly traded, family controlled firms headquartered in the Chicago area. Family controlled firms have governance structures that are expected to result in improved performance compared to non-family controlled firms. The LUCFFSI, over the period from September 28, 1990, to July 28, 1995, outperformed local and national indices. We discuss the design of this price-weighted index. Statistical testing (detailed in a technical appendix) and existing price-weighted indices such as Crain's Chicago Stock Index and the Dow Jones Industrial Average, suggest that the price-weighted design is preferable to a market value (cap)-weighted design. We suggest that a continually updated price-weighted Loyola University Chicago Family Firm Stock Index can serve as a significant performance benchmark.