Dimensional Prizes Recognize Innovative Research
The winners of the Dimensional Fund Advisors Prizes for 2019 were announced during the annual meeting of the American Finance Association (AFA). The awards, which were presented January 4, 2020, in San Diego.
The Dimensional Fund Advisors Prizes reward eligible papers published in The Journal of Finance from the prior year in any research area other than corporate finance. (The Brattle Group Prizes, which were also awarded at the AFA annual meeting, recognize outstanding papers in the field of corporate finance.) Winning papers are selected by the editors of The Journal of Finance from a list of papers nominated by the associate editors.
First Prize was awarded to Samuel M. Hartzmark and David H. Solomon for “The Dividend Disconnect.” The Distinguished Paper honorees were Jules H. van Binsbergen and Christian C. Opp for “Real Anomalies,” and Ian W. R. Martin and Christian Wagner for “What Is the Expected Return on a Stock?”
“For nearly 40 years, Dimensional has been taking the great ideas in financial science and applying them to real-world portfolios,” Dimensional Co-CEO and Chief Investment Officer Gerard O’Reilly said. “We are proud to support pioneering research and congratulate this year’s recipients on their achievements.”
The Dimensional Fund Advisors Prizes are part of the firm’s broader commitment to supporting scholarship and academic excellence within the research community.
Dimensional has deep historical ties to both the AFA and The Journal of Finance. Many of the academics affiliated with Dimensional and its funds are past presidents of the AFA, including Merton Miller (1976), Robert Merton (1986), Myron Scholes (1990), George Constantinides (2001), Douglas Diamond (2003), Kenneth French (2007), and Darrell Duffie (2009). Ingrid Werner, who serves with Scholes, Constantinides, Diamond, and Duffie as Independent Directors of Dimensional’s US Mutual Funds Board, is currently on the AFA Board of Directors. Beginning in 2008, the AFA and Dimensional coproduced the Masters of Finance project, a series of video interviews featuring important contributors to financial economic knowledge, including Eugene Fama, Scholes, Merton, and others.
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Robert J. Pyle, CFP®, CFA is president of Diversified Asset Management, Inc. (DAMI). DAMI is licensed as an investment adviser with the State of Colorado Division of Securities, and its investment advisory representatives are licensed by the State of Colorado. DAMI will only transact business in other states to the extent DAMI has made the requisite notice filings or obtained the necessary licensing in such state. No follow up or individualized responses to persons in other jurisdictions that involve either rendering or attempting to render personalized investment advice for compensation will be made absent compliance with applicable legal requirements, or an applicable exemption or exclusion. It does not constitute investment or tax advice. To contact Robert, call 303-440-2906 or e-mail info@diversifiedassetmanagement.com.
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