Awards

Sponsors

Cornerstone Research

Society for Financial Studies

Sponsorship History

Michael J. Brennan Best Paper Award: Society for Financial Studies, 2013, 2016; Research Affiliates, 2014-2015; BlackRock, 1999-2012
Rising Scholar Award (formerly Young Researcher Prize/Rising Researcher Prize): Society for Financial Studies 2009-2013, 2016; Research Affiliates, 2014-2015; JPMorgan, 2007-2008
Referee of the Year Award & Distinguished Referees: Cornerstone Research 2010-2016; Society for Financial Studies, 2001-2009

 

Award History

2016

Distinguished Referee Award 
Kenneth Ahern
Ing-Haw Cheng
Ran Duchin
Charles Hadlock
Victoria Ivashina
Justin Murfin
Alexi Savov
Denis Sosyura

Michael J. Brennan Best Paper Award

Winner

“The Real Effects of Hedge Fund Activism: Productivity, Asset Allocation, and Labor Outcomes”
Alon Brav, Wei Jiang, and Hyunseob Kim
Prize: $20,000

Runner Up

“Shadow Banking and Bank Capital Regulation”
Guillaume Plantin
Prize: $5000

Referee of the Year 
Amiyatosh Purnanandam
Prize: $1000

Rising Scholar Award 
“Valuing Changes in Political Networks: Evidence from Campaign Contributions to Close Congressional Elections”
Pat Akey
Prize: $5000

2015

Distinguished Referee Award 
Zhi Da
Doron Levit
Andrey Malenko
Gregory Nini
Adi Sunderam
Sheri Tice
Liyan Yang

Michael J. Brennan Best Paper Award

Winner

“High-Frequency Trading and Price Discovery”
Jonathan Brogaard, Terrence Hendershott, and Ryan Riordan
Prize: $20,000

Runner Up

“Financial Market Dislocations”
Paolo Pasquariello 
Prize: $5000

Referee of the Year 
Paolo Pasquariello
Prize: $1000

Rising Scholar Award 
“Capital Account Opening and Wage Inequality”
Mauricio Larrain
Prize: $5000

2014

Distinguished Referee Award 
Laurent Fresard
Todd Gormley
Wei Jiang
Justin Murfin
Allan Timmermann
Heather Tookes
Mark Westerfield

Michael J. Brennan Best Paper Award

Winner

“Managers with and without Style: Evidence Using Exogenous Variation”
Charles J. Hadlock, Joshua R. Pierce, and C. Edward Fee
Prize: $20,000

Runner Up

“Short Selling and the Price Discovery Process”
Juan (Julie) Wu and Ekkehart Boehmer 
Prize: $5000

Referee of the Year 
Gerard Hoberg
Prize: $1000

Rising Scholar Award 
“The Growth and Limits of Arbitrage: Evidence from Short Interest”
Samuel G. Hanson and Adi Sunderam 
Prize: $5000

2013

Distinguished Referee Award
Sandy Klasa
Oguzhan Ozbas
Woojin Kim
Mark Huson
Stuart Gillan
Hui Chen
Martin Oehmke
Taylor Nadauld

Michael J. Brennan Best Paper Award

Winners (tie)

“Journalists and the Stock Market”
Casey Dougal, Joseph Engelberg, Diego García, and Christopher A. Parsons

“Investment and Capital Constraints: Repatriations Under the American Jobs Creation Act”
Michael Faulkender and Mitchell Petersen

Referee of the Year
Marcin Kacperczyk

Young Researcher Prize
“Finding a Good Price in Opaque Over-the-Counter Markets”
Haoxiang Zhu

2012

Distinguished Referee Award
Sreedhar Bharath
Peter Christoffersen
Rudiger Fahlenbrach
John Griffin
Berk Sensoy
Isil Erel
Simi Kedia
Ralph Koijen
Pedro Matos

Michael J. Brennan Best Paper Award

Winner

“Margin-based Asset Pricing and Deviations from the Law of One Price”
Nicolae Gârleanu and Lasse Heje Pedersen

Runner Up

“Large Shareholder Diversification and Corporate Risk-Taking”
Mara Faccio, Maria-Teresa Marchica, and Roberto Mura

Referee of the Year Award
Robin Greenwood

Young Researcher Prize
“The Real Consequences of Market Segmentation”
Sergey Chernenko and Adi Sunderam

2011

Distinguished Referee Award
Darren Kisgen
Luca Benzoni
Lubos Pastor
Eitan Goldman
Ekkehart Boehmer
Malcolm Baker
Murillo Campello
Peter Christoffersen
Tarun Chordia

Michael J. Brennan Best Paper Award

Winner

“New Evidence on Measuring Financial Constraints: Moving Beyond the KZ Index”
Charles J. Hadlock and Joshua R. Pierce

Runner Up

“Housing Wealth and Consumption Growth: Evidence from a Large Panel of Households”
Jie Gan

Referee of the Year Award
Philip Strahan

Young Researcher Prize 
“Corporate Governance Objectives of Labor Union Shareholders: Evidence from Proxy Voting”
Ashwini K. Agrawal

2010

Distinguished Referee Award
Stijn Van Nieuwerburgh
Murillo Campello
Rajesh Aggarwal
Nicolas Bollen
Lu Zhang
Massimo Massa
Martijn Cremers
Clemens Sialm

Michael J. Brennan Best Paper Award

Winner

“The Economics of Fraudulent Accounting”
Simi Kedia and Thomas Philippon

Runner Up

“Estimating Standard Errors in Finance Panel Data Sets: Comparing Approaches”
Mitchell A. Petersen

Referee of the Year Award 
Heitor Almeida

Young Researcher Prize 
“Learning from Prices and the Dispersion in Beliefs”
Snehal Banerjee

2009

Distinguished Referee Award
Viral Acharya
Gurdip Bakshi
Alex Edmans
Francisco Gomes
Robin Greenwood
Massimo Massa
Lu Zhang

Michael J. Brennan Best Paper Award

Winner

“A Comprehensive Look at The Empirical Performance of Equity Premium Prediction”
Ivo Welch and Amit Goyal

Runner Up

“Financial Constraints and Growth: Multinational and Local Firm Responses to Currency Depreciations”
Mihir Desai, C. Fritz Foley, and Kristin Forbes

Referee of the Year Award
Francisco Gomes

Young Researcher Prize 
“Performance-Sensitive Debt”
Gustavo Manso, Bruno Strulovici, and Alexei Tchistyi

2008

Michael J. Brennan Best Paper Award

Winner

“Portfolio Performance Manipulation and Manipulation-proof Performance Measures”
Matthew Spiegel, William N. Goetzmann, Jonathan E. Ingersoll Jr., and Ivo Welch

Runner Up

“Agency and Optimal Investment Dynamics”
Peter M. DeMarzo and Michael J. Fishman

Referee of the Year Award
Stefan Nagel

Young Researcher Prize
“The Choice of Corporate Liquidity and Corporate Governance”
Hayong Yun

2007

Michael J. Brennan Best Paper Award

Winner

“Corporate Finance and the Monetary Transmission Mechanism”
Patrick Bolton and Xavier Freixas

Runner Up

“Does the Source of Capital Affect Capital Structure”
Michael Faulkender and Mitchell A. Petersen

Referee of the Year Award
Gurdip Bakshi

Young Researcher Prize
“Bank Lines of Credit in Corporate Finance: An Empirical Analysis”
Amir Sufi

2006

Michael J. Brennan Best Paper Award

Winner

“The Pooling and Tranching of Securities: A Model of Informed Intermediation”
Peter M. DeMarzo

Runner Up

“Information Leakage and Market Efficiency”
Markus K. Brunnermeier

Referee of the Year Award 
Francis A. Longstaff and Allen M. Poteshman

2005

Michael J. Brennan Best Paper Award

Winner

“Losing Money on Arbitrage: Optimal Dynamic Portfolio Choice in Markets with Arbitrage Opportunities”
Jun Liu and Francis A. Longstaff

Runner Up

“Confronting Information Asymmetries: Evidence from Real Estate Markets”
Mark J. Garmaise and Tobias J. Moskowitz

Referee of the Year Award
Matthias Kahl and Michael Roberts

2004

Michael J. Brennan Best Paper Award

Winner

“Informal Financial Networks: Theory and Evidence”
Mark J. Garmaise and Tobias J. Moskowitz

Runner Up

“Optimal Contracts in a Continuous-Time Delegated Portfolio Management Problem”
Hui Ou-Yang

Referee of the Year Award 
Simon Gervais

2003

Michael J. Brennan Best Paper Award

Winner

“Competing Theories of Financial Anomalies”
Alon Brav and J.B. Heaton

Runner Up

“An Isomorphism between Asset Pricing Models with and without Linear Habit Formation”
Mark Schroder and Costis Skiadas

Referee of the Year Award 
Viral Acharya and Sergei Sarkissian

2002

Michael J. Brennan Best Paper Award

Winner

“Learning to Be Overconfident”
Simon Gervais and Terrance Odean

Runner Up

“Optimal Consumption and Investment with Capital Gains Taxes”
Robert M. Dammon, Chester S. Spatt, and Harold H. Zhang

Referee of the Year Award 
Bruno Biais and Diego Garcia

2001

Michael J. Brennan Best Paper Award

Winner

“Toeholds, Bid Jumps, and Expected Payoffs in Takeovers”
Sandra Betton and B. Espen Eckbo

Runner Up

“Forcing Firms to Talk: Financial Disclosure Regulation and Externalities”
Anat Admati and Paul Pfleiderer

Referee of the Year Award 
N.R. Prabhala

2000

Michael J. Brennan Best Paper Award

Winner

“Stock Market Overreaction to Bad News in Good Times: A Rational Expectations Equilibrium Model”
Pietro Veronesi

1999

Michael J. Brennan Best Paper Award

Winner

“Conflict of Interest and the Credibility of Underwriter Analyst Recommendations”
Roni Michaely and Kent Womack

1998

Michael J. Brennan Best Paper Award

Winner

“An Anatomy of Trading Strategies”
Jennifer Conrad and Gautam Kaul

1997

Michael J. Brennan Best Paper Award

Winner

“Trade Credit: Theories and Evidence”
Mitchell Petersen and Raghuram Rajan

1996

Michael J. Brennan Best Paper Award

Winner

“Testing Continuous-Time Models of the Spot Interest Rate”
Yacine Ait-Sahalia

1995

Michael J. Brennan Best Paper Award

Winner

“A Critique of Size-Related Anomalies”
Jonathan Berk

1994

Michael J. Brennan Best Paper Award

Winner

“Transactions, Volume, and Volatility”
Charles Jones, Gautam Kaul, and Marc Lipson

1993

Michael J. Brennan Best Paper Award

Winner

“Asymmetric Information and Options”
Kerry Back

1992

Michael J. Brennan Best Paper Award

Winners

“On the Estimation of Beta-Pricing Models”
Jay Shanken

“Survivorship Bias in Performance Studies”
Stephen Brown, William Goetzmann, Roger Ibbotson, and Stephen Ross

1991

Michael J. Brennan Best Paper Award

Winner

“The Effect of Information Releases on the Pricing and Timing of Equity Issues”
Robert Korajczyk, Deborah Lucas, and Robert McDonald

1990

Michael J. Brennan Best Paper Award

Winner

“Data-snooping Biases in Tests of Financial Asset Pricing Models”
Andew Lo and A. Craig MacKinlay

1989

Michael J. Brennan Best Paper Award

Winner

“Requiem for a Market: An Analysis of the Rise and Fall of a Financial Futures ”
Elizabeth  Johnston and John McConnell

Comments are closed