Academic Competition

Academic Competition Winners

2021 Awards

First Place

William Mullins, University of California – San Diego – “Echo Chambers”

 
Second Place

Dat Mai, University of Missouri – “Economic Narratives and Market Outcomes:  A Semi-Supervised Topic Modeling Approach”

 
Third Place

Tengjia Shu,  University of Iowa – “Identifying Signals of the Cross Section of Stock Returns”

2019 Awards

First Place

Johnathan Loudis University at Notre Dame – “Expectations in the Cross Section: Stock Price Reactions to the Information and Bias in Analyst-Expected Returns”

 
Second Place

Xi Wu at University of Rochester – “Labor Links and Shock Transmissions”

 
Third Place

Ai He University at South Carolina – “More Factors are Needed: Evidence from a Simple Test” 

2018 Awards

First Place

Mamdouh Medhat at Cass Business School (London) – “Short Term Momentum”

 
Second Place

Quan Wen at Georgetown University – “Crowdsourced Employer Reviews and Stock Returns”

 
Third Place

Dacheng Xiu at University of Chicago -“Empirlcal Asset Pricing Via Machine Learning”

2017 Awards

First Place

Kevin  Mullaly at University of Alabama – “Prime (Information) Brokerage”

 
Second Place

Chen Xue at University of Cincinnati – “Replicating Anomalies”

 
Third Place

Xintong Zhan at Erasmus University of Rotterdam – “How Do Smart Beta ETF’s Affect the Asset Management Industry?  Evidence from Mutual Fund Flows”

2016 Awards

First Place

Quoc Nguyen at University of Illinois at Chicago – “Lazy Prices”

 
Second Place

Jongsub Lee at University of Florida – “Related Securities and the Cross-Section of Stock Return Momentum: Evidence From Credit Default Swaps”

 
Third Place

Linghang Zeng at Georgia Tech – “Does History Repeat Itself? Business Cycle and Industry Returns”

 
European Finance Association Doctoral Tutorial Winner

Sehoon Kim at Ohio State University – “Cash, Financial Flexibility, and Product Prices: Evidence from a Natural Experiment in the Airline Industry” 

2015 Awards

First Place

Joseph Gerakos at Tuck School of Business – “Accruals, Cash Flows and Operating Profitability in the Cross-Section of Stock Returns”

 
Second Place

Kewei Hou at Ohio State University –  “A Comparison of New Factor Models”

 
Third Place

Denys Glushkov at University of Pennsylvania – “How Smart are Smart Beta ETF’s? Analysis of Relative Performance and Factor Timing”

 
European Finance Association Doctoral Tutorial Winner

Elisabeth Kempf at Tilburg University – “The Job Rating Game: The Effects of Revolving Doors on Analyst Incentives”

2014 Awards

First Place

Li An at Tsinghua University – “Asset Pricing When Traders Sell Extreme Winners and Losers”

 

Second Place

Jiasun Li at UCLA – “Slow Price Adjustment to Public News in After-hours Trading”

 

Third Place

Huijun Wang at University of Delaware – “Prospect Theory and the Risk = Return Trade Off”

 

European Finance Association Doctoral Tutorial Winner

Vincent Bogousslavsky, EPFL, Swiss Finance Institute – Infrequent Rebalancing and Short-term Return Predictability

2013 Awards

First Place

Qingzhong Ma at Cornell University – “Momentum and Insider Trading”

 

Second Place

Andrea Yinjia Lu at Northwestern University – “Slow Diffusion of Information and Price Momentum in Stocks: Evidence from Options Markets”

 

Third Place

Jerimiah Green at Penn State – “The Remarkable Multidimensionality in the Cross-Section of Expected U.S. Stock Returns”

2012 Awards

First Place

Jianfeng Yu at University of Minnesota – “Investor Sentiment and Economic Forces”

 

Second Place

Joseph Gerakos at University of Chicago – “Decomposing Value”

 

Third Place

Jake Thornock at University of Washington – “The Informativeness of Stale Financial Disclosures”

2011 Awards

First Place

Nitish Ranjan Sinha at University of Illinois at Chicago – “Under Reaction to News in the U.S. Stock Market”

 

Tied for Second Place

Buhui Qui at Erasmus University – “Options-Implied Variance and Future Stock Returns”

Sandhya Vallapuzha at Georgia State University – “Agency Problems in Target-Date Funds”

2010 Awards

First Place

Lukasz Pomorski at University of Toronto – “Decoding Inside Information”

 

Second Place

Ankur Pareek at Rutgers University –  “Institutional Investors’ Investment Durations and Stock Return Anomalies: Momentum, Reversal, Accruals, Share Issuance and R&D Increases”

 

Third Place

Yuehua Tang at Georgia State University – “Do Institutional Investors Have an Ace Up Their Sleeves? Evidence from Confidential Filings of Portfolio Holdings”

2009 Awards

First Place

Zhi Da at Notre Dame – “In Search of Attention”

 

Second Place

Jeffrey Ng at MIT –  “Market Pricing of Banks’ Fair Value Assets Reported under SFAS 157 During the 2008 Financial Crisis”

 

Third Place

Hao Zhou at Federal Reserve Board – “Variance Risk Premia Asset Predictability Puzzles”

2008 Awards

First Place

Itzhak Ben-David at Fisher College of Business at Ohio State University – “Manipulation of Collateral Values by Borrowers and Intermediaries”

 

Second Place

Usman Ali at Yale University –  “Analysts’ Use of Public Information and Profitability of their Recommendation Revisions”

 

Third Place

Buhui Qiu at University of Cincinnati – “The Return Predictive Power of Institutional Ownership”

2007 Awards

First Place

David McLean at University of Alberta – “Costly Arbitrage and Idiosyncratic Risk: Evidence from Short Sellers”

 

Second Place

Wei Jiang at Columbia Business School – “Hedge Fund activism, Corporate Governance, and Firm Performance”

 

Third Place

Sonya Lim at Depaul University – “Driven to Distraction: Extraneous News and Underreaction to Earnings News”

2006 Awards

First Place

Lauren Cohen at Yale University – “Economic Links and Predictable Returns”

 

Second Place

Feng Li at University of Michigan – “Do Stock Market Investors Understand the Risk Sentiment of Corporate Annual Reports”

 

Third Place

Steven Heston at University of Maryland – “Seasonality in the Cross-Section of Stock Returns”

2005 Awards

First Place

Weili Ge at University of Michigan – “Off-Balance-Sheet Activities Earnings Persistence and Stock Prices: Evidence From Operation Leases”

 

Second Place

Gergana Jostova at George Washington University – “Momentum and Credit Rating”

 

Third Place

Karl Diether at Ohio State University – “Supply and Demand Shifts in the Shorting Markets”

2004 Awards

First Place

Andrea Frazzini at Yale University – “The Disposition Effect and Under-reaction to News”

 

Second Place

Zoran Ivkovich at University of Illinois – “Portfolio Concentration and Performance of Individual Investors”

 

Third Place

Cheol Eun at Georgia Tech University – “International Diversification with Large- and Small-Cap Stocks”

2003 Awards

First Place

Allen Poteshman at University of Illinois – “The Information in Option Volume for Future Stock Prices”

 

Second Place

Malcolm Baker at Harvard Business School – “Investor Sentiment and the Cross-Section of Stock Returns”

 

Third Place

Doron Avramov – at University of Maryland – “Stock Returns are Predictable: A Firm Level Analysis”

2002 Awards

First Place

Christo Pirinsky at Texas A&M University – “Time-Series Versus Cross-Sectional Momentum: What’s the Difference?”

 

Second Place

David Ng at Cornell University – “Corruption and International Valuation: Does Virtue Pay?”

 

Third Place

Xi Li at University of Miami – “Will Past Leaders Still Lead? Performance Persistence of Financial Analysts”

2000 Awards

First Place

Sundaresh Ramnath at Rice University – “Under-reaction to Self-Selected News Events: The Case of Stock Splits”

 

Second Place

Charles Jones at Columbia University – “A Century of Stock Market Liquidity and Trading Costs”

 

Third Place

Hsui-Lang Chen at University of Illinois – Chicago – “On Characteristics Momentum”

1999 Awards

First Place

David Robinson at University of Chicago – “Industry Concentration and Industry Average Returns”

 

Second Place

Richard Warr at Kansas State University – “The Decline of Inflation and the Bull Market of 1982-1997”

 

Third Place

Christopher Geczy at University of Pennsylvania – “Is the Abnormal Return Following Equity Issuances Anomalous?”

1998 Awards

First Place

Bhaskran Swaminathan at Cornell University – “PriceMomentum and Trading Volume”

 

Tied for Second Place

Richard Sloan at University of Michigan – “Using Cash Flow Data for New Insight into Form Earnings Performance”

 

Douglas Skinner at University of Michigan – “Earnings Surprises, Growth Expectations, and Stock Returns or Don’t Let an Earnings Torpedo Sink Your Portfolio”

1997 Awards

First Place

John Nofsinger at Marquette University – “Herding by Institutional and Individual Investors”

 

Second Place

Christopher Polk at University of Chicago – “Financial Constraints and Stock Returns”

 

Third Place

Albert Wang at Columbia University – “Overconfidence, Delegated Fund Management, and Survival”

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