NFA 2025 Best Paper Awards

Special thanks to the awards committee for their selection of the winners for the two NFA-sponsored awards.

NFA 2025 Best Paper Awards Committee:

• Simon Gervais (chair) - Fuqua School of Business, Duke University
• Andrew Karolyi - Cornell SC Johnson College of Business, Cornell University
• Campbell Harvey - Fuqua School of Business, Duke University

NFA 2025 Best PhD Student Paper Awards Committee:

Special thanks to the awards committee for their selection of the winner for the award sponsored by the Bank of Canada.

• Andreas Uthemann - Bank of Canada
• David Cimon - Bank of Canada
• Fabienne Schneider - Bank of Canada
• Lerby Ergun - Bank of Canada
• Miguel Molico - Bank of Canada
• Sermin Gungor - Bank of Canada

• Best Paper Award in Asset Pricing (Sponsored by: Northern Finance Association)

Pricing of Corporate Bonds: Evidence From a Century-Long Cross-Section

Sebastien Plante, University of Wisconsin-Madison

Mohammad Ghaderi, University of Kansas

Sang Byung Seo, University of Wisconsin-Madison

Nikolai Roussanov, University of Pennsylvania

• Best Paper Award in Corporate Finance (Sponsored by: Northern Finance Association)

Infrastructure, Water Supply, and Firm Performance

Nora Pankratz, University of Toronto

• Best Ph.D. Student Paper Award (Sponsored by: Bank of Canada)

Synthetic Dollar Funding

Umang Khetan, University of Iowa