Yuki Arai Faculty Research Prize in Finance
Prize for the Best Faculty Research Paper in Finance
The Yuki Arai Faculty Research Prize in Finance, established by alumnus Yuki Arai (MBA ’10), aims to recognize and promote excellence in research by Stern faculty. The award is bestowed annually on the best faculty paper on the topic of Finance. The committee is particularly interested in papers with a focus on investments.
The winner of the Yuki Arai Faculty Research Prize in Finance will be awarded a $10,000 grant and the opportunity to present their paper to the Finance Department.
2022-2023
Giulia Brancaccio (NYU Stern Econ) and Karam Kang (Carnegie Mellon)
Search Frictions and Product Design in the Municipal Bond Market
Viral Acharya (NYU Stern Finance), Simone Lenzu (NYU Stern Finance), and Olivier Wang (NYU Stern Finance)
Zombie Lending and Policy Traps
2021-2022
Thomas Philippon (NYU Stern) and Olivier Wang (NYU Stern)
Let the Worst One Fail: A Credible Solution to the Too-Big-To-Fail Conundrum
Leonidas G. Barbopoulos (University of Edinburgh), Rui Dai (University of Pennsylvania), Talis J. Putnins (University of Technology, Sydney), and Anthony Saunders (NYU Stern)
Market Efficiency in the Age of Machine Learning
2020-2021
Tania Babina (Columbia), Alex Xi He (University of Maryland), Sabrina T. Howell (NYU Stern), Elisabeth Ruth Perlman (US Census Bureau), and Joseph Staudt (US Census Bureau)
The Color of Money: Federal vs. Industry Funding of University Research
Itamar Drechsler (University of Pennsylvania), Alexi Savov (NYU Stern), and Philipp Schnabl (NYU Stern)
The Financial Origins of the Rise and Fall of American Inflation
2019-2020
Arpit Gupta (NYU Stern) and Stijn Van Nieuwerburgh (Columbia Business School)
Valuing Private Equity Investments Strip by Strip
Johannes Stroebel (NYU Stern) and Stefano Giglio (Yale), Matteo Maggiori (Harvard) and Stephen Utkus (Vanguard)
Five Facts About Beliefs and Portfolios
2018-2019
Germán Gutiérrez and Thomas Philippon
How EU Markets Became More Competitive Than US Markets: A Study of Institutional Drift
2017-2018
Itamar Drechsler, Alexi Savov, and Philipp Schnabl
Banking on Deposits: Maturity Transformation without Interest Rate Risk
2016-2017
Ralph S.J. Koijen and Motohiro Yogo
“An Equilibrium Model of Institutional Demand and Asset Prices”
Michael Bailey, Ruiqing Cao, Theresa Kuchler, and Johannes Stroebel
“Social Networks and Housing Markets”
2015-2016
Itamar Drechsler, Alexi Savov, and Philipp Schnabl
“The Deposits Channel of Monetary Policy”
2014-2015
Johannes Stroebel, Matteo Maggiori, and Stefano Giglio
“Very Long-run Discount Rates”
2013-2014
Matteo Maggiori
“Financial Intermediation, International Risk Sharing, and Reserve Currencies”
Stijn Van Nieuwerburg, Bryan T. Kelley, and Hanno N. Lustig
“Too-Systemic-To-Fail: What Option Markets Imply About Sector-Wide Government Guarantees”
2012-2013
Karthik Balakrishnan, Mary Brooke Billings, Bryan T. Kelly, and Alexander Ljungqvist
“Shaping Liquidity: On the Causal Effects of Voluntary Disclosure”
2011-2012
Viral Acharya, Itamar Dreschler, and Philipp Schnabl
“A Pyrrhic Victory? Bank Bailouts and Sovereign Credit Risk”
2010-2011
Ashwini K. Agrawal and David Matsa
“Labor Unemployment Risk and Corporate Financing Decisions”
2009-2010
Viral Acharya, Douglas Gale, and Tanju Yorulmazer
“Rollover Risk and Market Freezes”
2008-2009
Xavier Gabaix and Alex Edmans
“Tractability and Detail-Neutrality in Incentive Contracting”
2007-2008
Stijn Van Nieuwerburgh, Otto Van Hemert, and Ralph S. J. Koijen
”Mortgage Timing”
2006-2007
Sriketan Mahanti, Amrut Nashikar, Marti Subrahmanyam, George Chacko, and Gaurav Mallik
“Latent Liquidity: A New Measure of Liquidity, with an Application to Corporate Bonds
Alexander Ljungqvist, Christopher Malloy, and Felicia Marston
“Rewriting History”
2005-2006
Stijn Van Nieuwerburgh and Laura Veldkamp
“Information Immobility and the Home Bias Puzzle”
Daniel Wolfenzon, Morten Bennedsen, Kasper Nielsen, and Francisco Perez-Gonzalez
“Inside the Family Firm: The Role of Families in Succession Decisions and Performance”
2004-2005
Jeffrey Wurgler, Jessica Wachter, Lubomir Litov and Malcom Baker
“Can Mutual Fund Managers Pick Stocks? Evidence from their Trades Prior to Earnings Announcements”
2003-2004
Heitor Almeida and Daniel Wolfenzon
“A Theory of Family Business Groups and Pyramidal Ownership”
2002-2003
Viral Acharya and Lasse Pedersen
“Asset Pricing with Liquidity Risk”
David Yermack
“Remuneration, Retention, and Reputation Incentives for Outside Directors”
2001-2002
Holger Muller and Roman Inderest
“Internal vs. External Financing: An Optimal Contracting Approach”
Jessica Wachter
“Habit Formation and Returns on Stocks and Bonds”
Published as: "A Consumption-based Model of the Term Structure of Interest Rates"