News and Honors

Finance Group Press Clippings

Xavier Giroud: The Ultimate Value Add: Thanks to hard-to-obtain access to plant-level data retained by the U.S. Census Bureau, MIT Sloan School of Management Prof. Xavier Giroud recently found that companies invest more in plants located closer to headquarters and that those plants tend to be more productive. But proximity, he says, needs to be defined by travel time, not geographic distance. More >>
Professor Andrew Lo: Risk allocation reduces volatility surprises: In an interview with InvestmentNews, Professor Andrew Lo discusses how investors can reduce the surprises in risk through asset allocation. More >>
Boom or Bust? Which environment your career began in can shape your career: That's according to MIT Sloan researchers Antoinette Schoar and Luo Zuo. In their working paper, "Shaped by Booms and Busts: How the Economy Impacts CEO Careers and Management Style," Schoar and Zuo write that the CEOs who enter the labor market during an economic downturn tend to enjoy less success than those who begin careers in a buoyant economy. More >>

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Finance Group Honors

Professor Steve Ross has been awarded the $200,000 2012 Onassis Prize for Finance: This prestigious honor recognizes Professor Ross' significant lifetime contributions to the field: "Professor Ross is best known for having invented 'arbitrage pricing theory' and the 'theory of agency.' He is also celebrated as the co-discoverer of 'risk neutral pricing' and of the 'binomial model' for pricing derivatives." More >>
Andrew Lo has won the first-ever Harry M. Markowitz Award with co-author Mark T. Mueller: Andrew Lo has won the first-ever Harry M. Markowitz Award with co-author Mark T. Mueller for their paper "Warning: Physics Envy May Be Hazardous to Your Wealth!" The award honors the best paper appearing in the Journal of Investment Management (JOIM) during 2010. Sponsored jointly by JOIM and New Frontier Advisors, LLC, the award was established to honor the legacy of Dr. Markowitz's work and its seminal impact on both theoretical finance and the practice of asset management, as well as to support future research and innovation in practical investment management. Papers were judged based on their practical significance, technical excellence, and theoretical quality. More >>
Adrien Verdelhan was the First Prize recipient of the Terker Family Prizes in Investment Research: Adrien Verdelhan (with co-authors Hanno Lustig of UCLA Anderson and Nikolai Roussanov of Wharton) was the First Prize recipient of the Terker Family Prizes in Investment Research for the period June 1, 2008 - May 31, 2009. More >>

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