Review of Finance - Best Paper Award

In 2010, the Stiftungsfonds Deutsche Bank im Stifterverband für die Deutsche Wissenschaft is donating a prize for the best paper published in the Review of Finance.

The Deutsche Bank Prize in Financial Economics Review of Finance - Best Paper Award is one of the highest distinctions awarded for an academic paper in Europe. The prize was handed over during the 37th Annual Meeting of the European Finance Association (August 25th to 28th, 2010) in Frankfurt, Germany.

The Best Paper Award is awarded annually for the top three papers in the RoF. The winning paper will be awarded EUR 3000 and each of the two runners up EUR 1000.


The award winning paper is:

Viral Acharya and Paolo Volpin, „Corporate Governance Externalities“


The two runners-up are:

Jens Hilscher, Yves Nosbusch, „ Determinants of Sovereign Risk: Macroeconomic Fundamentals and the Pricing of Sovereign Debt"

Alon Brav,  J. B. Heaton  and  Si Li, „The Limits of the Limits of Arbitrage“

The Review of Finance, the official journal of the European Finance Association, is the leading academic finance journal in Europe. It aims at a wide circulation and high visibility in the professional fields of finance (link to the RoF: The RoF is available in all major libraries located in economics departments and business schools around the world.  EFA members, including authors submitting papers to the EFA Annual Meeting, are entitled to receive a one-year personal subscription to the RoF as part of their annual EFA membership.

Committee: The winning papers are chosen by the Associate Editors and the Coeditors of The Review of Finance. The board of editors is listed under the link:
The papers eligible for the Review of Finance - Best Paper Award for a given year are all those which appeared in the previous 4 issues, i.e., the first two issues of that year and the last two issues of the previous year.