2008
Michael Brennan Award
First Prize
Portfolio Performance Manipulation and Manipulation-proof Performance Measures
Matthew Spiegel, William N. Goetzmann, Jonathan E. Ingersoll Jr., and Ivo Welch
Runner-Up
Agency and Optimal Investment Dynamics
Peter M. DeMarzo and Michael J. Fishman
Referee of the Year Award
Winner
Stefan Nagel
Young Researcher Prize
Winner
The Choice of Corporate Liquidity and Corporate Governance
Hayong Yun
2007
Michael Brennan Award
First Prize
Corporate Finance and the Monetary Transmission Mechanism
Patrick Bolton and Xavier Freixas
Runner-Up
Does the Source of Capital Affect Capital Structure
Michael Faulkender and Mitchell A. Petersen
Young Researcher Prize
Winner
Bank Lines of Credit in Corporate Finance: An Empirical Analysis
Amir Sufi
Referee of the Year Award
Winner
Gurdip Bakshi
2006
Michael Brennan Award
First Prize
The Pooling and Tranching of Securities: A Model of Informed Intermediation
Peter M. DeMarzo
Runner-Up
Information Leakage and Market Efficiency
Markus K. Brunnermeier
Referee of the Year Award
Winner
Francis A. Longstaff and Allen M. Poteshman
2005
Michael Brennan Award
First Prize
Losing Money on Arbitrage: Optimal Dynamic Portfolio Choice in Markets with Arbitrage Opportunities
Jun Liu and Francis A. Longstaff
Runner-Up
Confronting Information Asymmetries: Evidence from Real Estate Markets
Mark J. Garmaise and Tobias J. Moskowitz
Referee of the Year Award
Winner
Matthias Kahl and Michael Roberts
2004
Michael Brennan Award
First Prize
Informal Financial Networks: Theory and Evidence
Mark J. Garmaise and Tobias J. Moskowitz
Runner-Up
Optimal Contracts in a Continuous-Time Delegated Portfolio Management Problem
Hui Ou-Yang
Referee of the Year Award
Winner
Simon Gervais
2003
Michael Brennan Award
First Prize
Competing Theories of Financial Anomalies
Alon Brav and J.B. Heaton
Runner-Up
An Isomorphism between Asset Pricing Models with and without Linear Habit Formation
Mark Schroder and Costis Skiadas
Referee of the Year Award
Winner
Viral Acharya and Sergei Sarkissian
2002
Michael Brennan Award
First Prize
Learning to Be Overconfident
Simon Gervais and Terrance Odean
Runner-Up
Optimal Consumption and Investment with Capital Gains Taxes
Robert M. Dammon, Chester S. Spatt, and Harold H. Zhang
Referee of the Year Award
Winner
Bruno Biais and Diego Garcia
2001
Michael Brennan Award
First Prize
Toeholds, Bid Jumps, and Expected Payoffs in Takeovers
Sandra Betton and B. Espen Eckbo
Runner-Up
Forcing Firms to Talk: Financial Disclosure Regulation and Externalities
Anat Admati and Paul Pfleiderer
Referee of the Year Award
Winner
N.R. Prabhala
2000
Michael Brennan Award
First Prize
Stock Market Overreaction to Bad News in Good Times: A Rational Expectations Equilibrium Model
Pietro Veronesi
Runner-Up
Conflict of Interest and the Credibility of Underwriter Analyst Recommendations
Roni Michaely and Kent Womack