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EFA is a professional
non-profit association
managed by EIASM

 
© EFA 
Best Paper Awards

EFA 2009 WINNERS

LECG (Law & Economics Consulting Group) Prizes

Commonfund Prize

  • Best paper on Foundation and Endowment Asset Management
    Should Benchmark Indices Have Alpha? Revisiting Performance Evaluation
    by Martijn Cremers (Yale School of Management); Antti Petajisto (Yale School of Management); Eric Zitzewitz (Dartmouth College)
    [SSRN link: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1108856]

Viz Risk Management Prize

  • Best paper on Energy Markets, Securities and Prices
    Limits to Arbitrage and Hedging: Evidence from Commodity Markets
    by Viral V. Acharya (London Business School): Tarun Ramadorai (University of Oxford); Lars A. Lochstoer (Columbia University)
    [SSRN link: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1105546]

Argentum Prize

  • Best symposium paper on Private Equity and Funds of Private Equity
    Informational Hold-Up and Performance Persistence in Venture Capital
    by Yael V. Hochberg (Northwestern University); Alexander Ljungqvist (New York University); Annette Vissing-Jorgensen (Northwestern University) 
    [SSRN link: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1260496]

GSAM (Goldman Sachs Asset Management) Quant Prize

CQA (Chicago Quantitative Alliance) Prize 
+ NASDAQ OMX Prize

  • Best EFA / EIASM Doctoral Tutorial Paper
    Options Implied Dividend Yield and Market Returns
    by Benjamin Golez (Pompeu Fabra University)

EFA 2008 WINNERS

Eurobank EFG Prize

  • Best Conference Paper
    Did Securitization Lead to Lax Screening? Evidence from Subprime Loans
    by Benjamin J. Keys (University of Michigan); Tanmoy Mukherjee (Sorin Capital Management); Amit Seru (University of Chicago); Vikrant Vig (London Business School)
    [SSRN link: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1093137]

LECG (Law & Economics Consulting Group) Prize

Commonfund Prize

GSAM (Goldman Sachs Asset Management) Quant Prize

CQA (Chicago Quantitative Alliance) Prize
+ LECG (Law & Economics Consulting Group) Prize

  • Best EFA / EIASM Doctoral Tutorial Paper + Best PhD Paper on Investments
    Financial Strength and Product Market Behaviors: The Real Effect of Corporate Cash Holdings
    by Laurent Frésard (University of Neuchâtel)

EFA 2007 WINNERS

Barclays Global Investors Prizes

  • Best Conference Paper [prize shared between two papers]
    • Trade Credit Defaults and Liquidity Provision By Firms
      by Reint Gropp (Goethe University Frankfurt) and  Frédéric Boissay (European Central Bank)
    • Control Motivations and Capital Structure Decisions
      by Andrew Ellul (Indiana University Bloomington,
      Kelley School of Business)
  • Best Paper on Asset Pricing
    The Small World of Investing: Board Connections and Mutual Fund Returns
    by Andrea Frazzini (University of Chicago Graduate School of Business); Christopher J. Malloy (London Business School); Lauren Cohen (Yale School of Management)
  • Best Paper by a PhD Student
    Does Search Friction Really Matter? Evidence from the Corporate Bond Market
    by Chotibhak (Pab) Jotikasthira (Indiana University, Bloomington, IL)

LECG (Law & Economics Consulting Group) Prize

  • Best Paper on Corporate Finance and Governance
    To Be Or Not to Be (Public)
    by Sreedhar T. Bharath and Amy K. Dittmar (University of Michigan at Ann Arbor, Stephen M. Ross School of Business)

Commonfund Prize

  • Best Paper on Foundation and Endowment Asset Management
    Investing in Hedge Funds when Returns are Predictable
    by Doron Avramov (University of Maryland); Robert Kosowski (Imperial College London); Narayan Y. Naik (London Business School); 
    Melvyn Teo (Singapore Management University)

GSAM (Goldman Sachs Asset Management) Quant Prize

  • Best Paper published in the Review of Finance
    The Financial Accelerator: Evidence from International Housing Markets
    by Heitor Almeida (New York University); Murillo Campello (University of Illinois at Urbana-Champaign); Crocker Liu (New York University) 

CQA (Chicago Quantitative Alliance) Prize

  • Best EFA / EIASM Doctoral Tutorial Paper
    Dependence Modeling of Joint Extremes via Copulas: A Dynamic Portfolio Allocation Perspective
    by Denitsa Stefanova (HEC, Montreal)

EFA 2006 WINNERS

Barclays Global Investors Prizes

  • Best Conference Paper
    Technological Revolutions and Stock Prices
    by Lubos Pastor Pietro Veronesi (Graduate School of Business, University of Chicago)
  • Best Paper on Asset Allocation
    The Market for 401(k) Plans: Conflicts of Interest and Mutual Fund Asset Allocation
    by Lauren Cohen (Yale School of Management) and Breno Schmidt (University of Southern California)
  • Best Paper by a PhD Student
    Does the Rolodex Matter? Corporate Elite's Small World and the Effectiveness of Boards of Directors
    by Bang Nguyen-Dang (HEC, Paris)

LECG (Law & Economics Consulting Group) Prize

  • Best Paper on Behavioural Finance
    Portfolio Choice and Menu Exposure
    by Anders Karlsson (Stockholm University); Massimo Massa (INSEAD); Andrei Simonov (Stockholm School of Economics)

Commonfund Prize

  • Best Paper on Foundation and Endowment Asset Management
    The Price of Sin: The Effects of Social Norms and Markets
    by Harrison Hong (Princeton University) and Marcin Kacperczyk (University of British Columbia)

Man Investment Prize

  • Best Hedge Fund Papers
    • Risk and Return in Convertible Arbitrage: Evidence from the Convertible Bond Market
      by Vikas Agarwal and Yee Cheng Loon (Georgia State University); William H. Fung and Narayan Y. Naik (London Business School)
    • A Portrait of Hedge Fund Investors: Flows, Performance and Smart Money
      by Guillermo Baquero and Marno Verbeek (Erasmus University, Netherlands)

GSAM (Goldman Sachs Asset Management) Quant Prize

  • Best Paper published in the Review of Finance [prize shared between two papers]
    • Competition in Lending: Theory and Experiments
      by Elena Nikolaeva Asparouhova (University of Utah)
    • Do Investor Sophistication and Trading Experience Eliminate Behavioral Biases in Financial Markets?
      by Lei Feng (Bear Stearns and Co., USA) and Mark S. Seasholes (University of Berkeley)

Inquire Prize

  • Best EFA / EIASM Doctoral Tutorial Paper [prize shared between two papers] 
    • Of Bail-Outs and Bankruptcies: A Study of Distressed Debt Restructurings in Germany
      by Philipp Jostarndt (University of Munich, Said Business School)
    • Optimal Monetary Policy and the Term Structure of Interest Rates
      by Francisco Palomino (Carnegie Mellon University)

EFA 2005 WINNERS

Barclays Global Investors Prizes

GSAM (Goldman Sachs Asset Management) Quant Prize

  • Best Paper published in the Review of Finance
    Rationing in IPOs
    by Christine A. Parlour (Carnegie Mellon University, Tepper School of Business) and Uday Rajan (University of Michigan, Stephen M. Ross School of Business)

Inquire Prize

  • Best EFA / EIASM Doctoral Tutorial Paper
    Difference in Interim Performance and Risk Taking
    by Dmitry Makarov (London Business School)

EFA 2004 WINNERS

Barclays Global Investors Prizes

  • Best Conference Paper
    The Many Facets of Privately Negotiated Stock Repurchases
    by Urs Peyer (INSEAD) and Theo Vermaelen (INSEAD)
  • Best Symposium Paper
    Managerial Opportunism and Earnings Manipulation: Evidence from Defined Benefit Pension Plans
    by Daniel Bergstresser (Harvard Business School), Mihir Desai (Harvard Business School) and Joshua Rauh (MIT)
  • Best Paper by a PhD Student
    Illiquidity Spillovers: Theory and Evidence from European Telecom Bond Issuance
    by Yigal Newman (Dimensional Fund Advisors, Inc.)

GSAM (Goldman Sachs Asset Management) Quant Prize

  • Best Paper published in the Review of Finance
    Basic Principles of Asset Pricing Theory: Evidence from Large-Scale Experimental Financial Markets
    by Peter Bossaerts and Charles Plott (California State University)

Inquire Prize

  • Best EFA / EIASM Doctoral Tutorial Paper [prize shared between two papers]
    • How Important is Asymmetric Variance for International Asset Pricing?
      by Stefano Mazzotta (McGill University)
    • Calibration of Structural Credit Risk Models: Implied Sensitivities and Liquidity Discounts
      by Soren Willemann (Aarhus School of Business)

EFA 2003 WINNERS

Barclays Global Investors Prizes

  • Best Conference Paper
    Predatory Trading
    by Markus K. Brunnermeiery (Princeton University) and Lasse Heje Pedersen (New York University)
  • Best Symposium Paper [prize shared between two papers]
    • The Effect of Macroeconomic News on Beliefs and Preferences: Evidence from the Options Market
      by Alessandro Beber (University of Trento) and Michael W. Brandt (Wharton School, University of Pennsylvania)
    • A Portfolio Perspective on Option Pricing Anomalies
      by Joost Driessen (University of Amsterdam) and Pascal Maenhout (INSEAD)
  • Best Paper by a PhD Student
    Information,Trading and Product Market Interactions: Cross-Sectional Implications of Insider Trading
    by Heather Tookes (Cornell University)

NYSE (New York Stock Exchange) Prize

  • Best Papers on Market Microstructure
    • Trading Costs of Public Investors with Voluntary and Obligatory Market-Making: Evidence from Market Reforms
      by Narayan Y Naik (London Business School) and Pradeep K Yadav (Lancaster University)
    • Liquidity and Bond Market Spreads
      by William RM Perraudin (Birkberk College, Bank of England and CEPR) and Alex P Taylor (University of Cambridge)

Fauchier Partners Prizes

  • Best Papers on Hedge Funds
    • Prize 1
      Flows and Performance in the Hedge Fund Industry
      Vikas Agarwal and Naveen D Daniel (Georgia State University) and Narayan Y Naik (London Business School)
    • Prize 2
      Survival, Look-Ahead Bias and the Persistence in Hedge Fund Performance
      by Guillermo Baquero (Erasmus University), Jenke ter Horst (Tilburg University) and Marno Verbeek (Erasmus University)
    • Prize 3
      Fees on Fees in Funds of Funds
      by Stephen Brown (New York University), William Goetzmann (Yale University) and Bing Liang (University of Massachusetts)

EFA 2002 WINNERS

Barclays Global Investors Prizes

  • Best Conference Paper
    An examination of Heterogeneous Beliefs with a Short Sale Constraint
    by Michael F. Gallmeyer and Burton Hollifield
  • Best Symposium Paper
    The Tax (Dis)Advantage of a Firm Issuing Options on its Own Stock
    by Robert McDonald
  • Best Paper by a PhD Student
    Diversification Discount or Premium?
    New Evidence from BITS Establishment-level Data
    by Belén Villalonga