Elvira Sojli and Wing Wah Tham win 2014 Crowell Second Prize

"Your paper and presentation were truly outstanding and deserving this recognition," the jury said to ERIM members Elvira Sojli and Wing Wah Tham. "It’s quality of research such as yours, which contributes so much to the field of quantitative asset management.”

The Quantitative Research Group at PanAgora Asset Management awarded Sojli, Tham, and their co-author Kees E. Bouwman the 2014 Crowell Second Prize for their paper “Market Illiquidity, Funding Liquidity, and Bond Risk Premia”. In it, the researchers argue that stock market illiquidity is a timely variable that is related to “flight-to-quality" episodes and might contain information about expected future business conditions through funding liquidity and investment channels.

<link people elvira-sojli>Sojli is an Assistant Professor of Finance and a Marie Curie Fellow at Rotterdam School of Management, Erasmus University (RSM). <link people wing-wah-tham>Tham is an Assistant Professor of Financial Econometrics and a Marie Curie Fellow at Erasmus School of Economics, Erasmus University (ESE).

The annual Crowell Prize, organised by PanAgora Asset Management, provides a forum for new and cutting-edge research that connects theory and practice.