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SFI supports and promotes promising research through various awards and prizes. Following are a description of the prizes which are currently awarded by the Swiss Finance Institute and its partners:

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Swiss Finance Institute Outstanding Paper Award

The Swiss Finance Institute Outstanding Paper Award is awarded annually to an unpublished research paper circulated over the previous 12 months that makes an outstanding contribution to the field of finance. The jury selecting the winning paper is composed of all Swiss Finance Institute Chaired professors and Fellows and is headed by the SFI Head of Research.

Recipients of the award since its inception were:

2016 Outstanding Paper Award

Sven Klingler (Copenhagen Business School) and Suresh Sundaresan (Columbia Business School) for their paper entitled “An Explanation of Negative Swap Spreads”.

2015 Outstanding Paper Award

Arvind Krishnamurthy (Stanford University) and Annette Vissing-Jorgensen (University of California Berkley) for their paper entitled “The Impact of Treasury Supply on Financial Sector Lending and Stability”. Their paper has been published in the Journal of Financial Economics, 2015.

2014 Outstanding Paper Award

Ralph Koijen (London Business School) and Motohiro Yogo (Federal Reserve Bank of Minneapolis) for their paper entitled “Shadow Insurance”. Their paper is forthcoming in Econometrica.

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2013 Outstanding Paper Award

Kent Daniel (Columbia University) and Tobias Moskowitz (University of Chicago) for their paper entitled “Momentum Crashes”. Their paper is forthcoming in the Journal of Financial Economics.

2012 Outstanding Paper Award

Zhiguo He (University of Chicago) and Arvind Krishnamurthy (Northwestern University) for their paper entitled "A Macroeconomic Framework for Quantifying Systemic Risk".

2011 Outstanding Paper Award

Andrea Frazzini (AQR Capital Management) and Lasse Pedersen (New York University) for their paper entitled "Betting Against Beta". Their paper has been published in the Journal of Financial Economics, 2014.

2010 Outstanding Paper Award

Jules van Binsbergen (Stanford University), Michael Brandt (Duke University), and Ralph Koijen (University of Chicago) for their paper entitled "On the Timing and Pricing of Cash Flows" (initially called “On the Timing and Pricing of Cash Flows"). Their paper has been published in the American Economic Review, 2012.

2009 Outstanding Paper Award

Bruce Carlin (University of California, Los Angeles) and Gustavo Manso (MIT) for their paper entitled “Obfuscation, Learning, and the Evolution of Investor Sophistication”. Their paper has been published in the Review of Financial Studies, 2011.

2008 Outstanding Paper Award

Darrell Duffie (Stanford University), Andreas Eckner (Merrill Lynch), Guillaume Horel (Stanford University), and Leandro Saita (Lehman Brothers) for their paper entitled “Frailty Correlated Default”. Their paper has been published in the Journal of Finance, 2009.

2007 Outstanding Paper Award

Susan Christoffersen (McGill University) and Sergei Sarkissian (McGill University) for their paper entitled "City Size and Fund Performance". Their paper has been published in the Journal of Financial Economics, 2009.

2005 FAME Research Prize

Li Jin (Harvard University) and Stewart Myers (MIT) for their paper entitled "R2 Around the World: New Theory and Tests." Their paper has been published in the Journal of Financial Economics, 2006.

2004 FAME Research Prize

Leonid Kogan (MIT), Stephen Ross (MIT), Jiang Wang (MIT) and Mark Westerfield (MIT), for their paper entitled "The Price Impact and Survival of Irrational Traders." Their paper has been published in the Jounral of Finance, 2006.

2003 FAME Research Prize

Jonathan Berk (University of California, Berkley) and Richard Green (Carnegie Mellon University) for their paper entitled "Mutual Fund Flows and Performance in Rational Markets". Their paper has been published in the Journal of Political Economy, 2004.

2002 FAME Research Prize

Domenico Cuoco (University of Pennsylvania), Hua He (Yale University), and Sergei Issaenko (University of Pennsylvania) for their paper entitled "Optimal Dynamic Trading Strategies with Risk Limits". Their paper has been published in Operations Research, 2008.

2001 FAME Research Prize

Yacine Aït-Sahalia (Princeton University) and Michael Brandt (University of Pennsylvania) for their paper entitled "Variable Selection for Portfolio Choice". Their paper has been published in the Journal of Finance, 2001.

2000 FAME Research Prize

Nicholas Barberis (University of Chicago), Ming Huang (Stanford University), and Tano Santos (University of Chicago) for their paper entitled "Prospect Theory and Asset Prices". Their paper has been published in the Quarterly Journal of Economics, 2001.

1999 FAME Research Prize

John Campbell (MIT) and Luis Viceira (Harvard University) for their paper entitled "Who Should Buy Long-Term Bonds?". Their paper has been published in the American Economic Review, 2001.

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Swiss Finance Institute Best Paper Doctoral Award

The annual SFI Best Paper Doctoral Award distinguishes a PhD student for an outstanding research paper presented at the SFI Research Days.  This Award was started in 2003 by the International Center FAME and from 2006 has been extended to all Swiss Doctoral Students in Finance.

Recipients of the Best Paper Doctoral Award:

2016

Christopher Hemmens for his paper entitled “Stronger Utility and the Endowment Effect”

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2015

Matthias Efing for his paper entitled “Arbitraging the Basel Securitization Framework: Evidence from German ABS Investment” and Thomas Geelen for his paper entitled “Debt Maturity and Lumpy Debt”.

2014

Ilaria Piatti for her paper entitled “Heterogeneous Beliefs about Rare Event Risk in the Lucas Orchard”

2013

Zexi Wang for his paper entitled "Short Sellers, Institutional Investors, and Corporate Cash Holdings"

2012

Matthias Efing for his paper entitled “Bank Capital Regulation with an Opportunistic Rating Agency”

2011

Rémy Praz for his paper entitled "Equilibrium Asset Pricing and Portfolio Choice in the Presence of both Liquid and Illiquid Markets"

2010

Julien Cujean for his paper entitled "Equilibrium Asset Prices with Bid-Ask Spreads"

2009

Cornelius Schmidt for his paper entitled "How Internal Capital Markets Reduce Conglomerates' Values?"

2008

Laurent Frésard for his paper entitled "Financial Strength and Product Market Behaviors: The Real Effects of Corporate Cash Holdings"

2007

Sébastien Michenaud for his paper entitled "Analysts Consensus and Corporate Investment"

2006

Maria Cecilia Bustamante for her paper entitled "The Dynamics of Going Public"

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Swiss Finance Institute Best Discussant Doctoral Award

The annual SFI Best Discussant Doctoral Award was begun by SFI in 2007 and is awarded to PhD students for an outstanding discussion of a paper presented at the SFI Research Days.

Recipients of the Best Discussant Doctoral Award:

2016

Alexey Ivashchenko

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2015

Sabine Elmiger
Elisabeth Pröhl

2014

Demian Berchtold
András Sali

2013

Giuliano Curatola
Rémy Praz

2012

Julien Cujean

2011

Peter Gruber
Ngoc Giang Hoang
Cornelius Schmidt

2010

Julien Cujean
Nilüfer Caliskan
Jan-Peter Kulak

2009

Anna Cieslak
Ilaria Piatti

2008

Jan-Peter Kulak
Rodolfo Prieto
Leon Bogdan Stacescu

2007

Anna Cieslak
Alexandre Jeanneret

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