Three members of the Carroll School of Management鈥檚 top-ranked finance department won coveted awards for academic papers at the Jan. 3鈥�5 annual meeting of the American Finance Association, in San Diego鈥攁nother notch in the School鈥檚 growing reputation as a leading management research institution.
The Carroll School has consistently ranked among the听top 20 business schools worldwide听for faculty research, according to authoritative annual surveys compiled by the听Financial Times. In addition听颈苍听U.S. News & World Report鈥檚 鈥淏est Undergraduate Finance Programs鈥� for this academic year.
went to David H. Solomon, Andrey Malenko, and Nadya Malenko, for articles appearing last year in The Journal of Finance, published by the American Finance Association. All three are associate professors of finance at the Carroll School, with Nadya Malenko serving as the Giuriceo Family Faculty Fellow and Solomon serving as the David J. Mastrocola Faculty Fellow.
Solomon did the best among winners of the Dimensional Fund Advisors Prizes, awarded annually for the top three Journal of Finance papers in any area of research other than corporate finance. Together with co-author Samuel M. Hartzmark of the University of Chicago, he won first prize for 鈥�,鈥� which finds that investors and analysts tend to look at dividends and capital gains as 鈥渄isconnected attributes,鈥� not fully realizing that dividends will often result in lower share prices.
At the same time, the Malenkos scored one of the association鈥檚 three Brattle Group Prizes in Corporate Finance. They won a Distinguished Paper award for their article, 鈥�,鈥� which looks at the increasingly heavy influence of firms that advise shareholders on proxy votes, and presents a framework for evaluating the quality of corporate decision-making that stems from such advice.
The prize for best paper in both categories is $25,000, while the Distinguished Paper awards net $10,000 each.
鈥�The Journal of Finance is the premier journal of our field, and it is remarkable for one school to have representation in both the corporate finance and non-corporate-finance prizes,鈥� said department chair Ronnie Sadka, who is also the Carroll School鈥檚 senior associate dean for faculty and the Seidner Family Faculty Fellow. 鈥淭his is an outstanding achievement for our faculty and our department.鈥�
Meanwhile, Professor Jeffrey Pontiff鈥檚 2016 article in The Journal of Finance (鈥淒oes Academic Research Destroy Stock Return Predictability?鈥�) has been hovering at the top of the journal鈥檚 prominent list of its 25 most-cited articles over the past five years. Pontiff holds the James F. Cleary Chair in Finance at the Carroll School.
Andy Boynton, John and Linda Powers Family Dean of the Carroll School, noted that the finance department has helped lead the way toward the School鈥檚 renown for peer-reviewed research.
鈥淲e鈥檝e built a unique finance department at the Carroll School, and in general, we鈥檝e been building a vibrant research culture across the departments, investing heavily in our faculty and their scholarly endeavors,鈥� he said. 鈥淭hese awards from the American Finance Association are just the latest sign.鈥�
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