Winners of the Crowell Prize, awarded by PanAgora Asset Management's Quantitative Research Institute to encourage academic research in quantitative management, were announced this month.
First place was awarded to Playing Favorites: How Firms Prevent the Revelation of Bad News by Lauren Cohen, associate finance professor at Harvard Business School and faculty research fellow at the National Bureau of Economic Research; Dong Lou, assistant finance professor, London School of Economics and Political Science and research affiliate at the Center for Economic and Policy Research; and Christopher Malloy, finance professor at Harvard Business School and faculty research fellow at NBER.
Second place went to Stock Market Illiquidity, Funding Liquidity, and Bond Risk Premia by Kees E. Bouwman, assistant professor in financial econometrics at Erasmus University Rotterdam; Elvira Sojli, assistant finance professor at Erasmus University Rotterdam and research fellow at Duisenberg School of Finance; and Wing Wah Tham, assistant professor in financial econometrics at Erasmus University Rotterdam and research fellow at Tinbergen Institute.
Third place went to Asset Pricing When Traders Sell Extreme Winners and Losers by Li An, Department of Economics, doctoral student in economics at Columbia University.
First place receives $5,000; second place, $3,000; and third place, $2,000. Boston-based PanAgora has been awarding the prize annually since 2001. The prize is named after PanAgora Asset Management's late founder, Richard A. Crowell. The papers can be found on Social Science Research Network's online library at http://papers.ssrn.com.