The Search For A Dog-Free Portfolio: Why Unions Matter To Investors

Academic Article


  • <p class="MsoNormal" style="text-align: justify; margin: 0in 0.5in 0pt; mso-pagination: none;"><span style="color: black; font-size: 10pt;"><span style="font-family: Times New Roman;">This paper uses portfolio filtering and weighting research to create a dog-free portfolio.<span style="mso-spacerun: yes;">&nbsp; </span>The variables used to create the dog-free portfolio include level of unionization and book-to-market.<span style="mso-spacerun: yes;">&nbsp; </span>The filtered and weighted portfolio is averaging 47 basis points alpha per month from 1991-2007 over the benchmark S&amp;P500, outperforming in 60.8% of the months.&nbsp; Using annual data, the portfolio averages 603 basis points alpha from 1991-2007 over the benchmark S&amp;P500, outperforming 82.4% of the time.&nbsp; </span></span></p>
  • Authors

  • Boyer, Carol M
  • Ciccone, Stephen
  • Swicegood, Philip
  • Publication Date

  • December 28, 2010
  • Digital Object Identifier (doi)


  • 8
  • Issue

  • 6