There are two prizes awarded for papers published in Review of Finance: the Spängler IQAM Prize and the Pagano and Zechner Prize.
Up to and including 2017, the Editors and Associate Editors voted on the winning papers out of all papers published over the past year. Many AEs did not vote; some said they did not know some of the published papers and so would be voting on the prestige of the authors rather than the quality of the paper. From 2018, we thus initiated a two-step procedure. The Editors (who collectively know all of the published papers) choose the finalists. The Editors and AEs are asked to read the finalists thoroughly and vote out of this subset. Turnout has been much higher.
- The Spängler IQAM Prize is awarded to the best investments paper published in the Review of Finance within the past year.
- The Pagano and Zechner Prize is awarded to the best non-investments paper published in the Review of Finance within the past year.
The Distinguished Referee Awards are given to outstanding referees for their service over the past year, voted by the Editors of the journal.
- Kingsley Y.L. Fong, Craig W. Holden, and Charles A. Trzcinka for What Are the Best Liquidity Proxies for Global Research? (non-technical summary here)
- Runner-up: Antje Berndt, Rohan Douglas, Darrell Duffie, and Mark Ferguson for Corporate Credit Risk Premia (non-technical summary here)
- Christopher S. Jones and Lukasz Pomorski for Investing in Disappearing Anomalies
- Luigi Guiso and Eliana Viviano for How Much Can Financial Literacy Help?
- Azi Ben-Rephael, Jacob Oded and Avi Wohl for Do Firms Buy Their Stock at Bargain Prices? Evidence from Actual Stock Repurchase Disclosures
- Jeffrey A. Busse, Amit Goyal, and Sunil Wahal for Investing in a Global World
- Augustin Landier, Julien Sauvagnat, David Sraer, and David Thesmar for Bottom-Up Corporate Governance
- First Prize to Richard A. Lambert, Christian Leuz, and Robert E. Verrecchia for Information Asymmetry, Information Precision, and the Cost of Capital
- Second Prize to Huafeng (JASON) Chen, Marcin Kacperczyk, and Hernán Ortiz-Molina Do Nonfinancial Stakeholders Affect the Pricing of Risky Debt? Evidence from Unionized Workers
- First Prize to Robert Novy-Marx for Operating Leverage
- Second Prize to Alex Edmans and Qi Liu for Inside Debt
- Second Prize to H. Henry Cao, Bing Han, David Hirshleifer and Harold H. Zhang for Fear of the Unknown: Familiarity and Economic Decisions
- Patrick Bolton and Haizhou Huang for The Capital Structure of Nations (non-technical summary here)
- Runner-up: Marianne Bertrand, Francis Kramarz, Antoinette Schoar, and David Thesmar for The Cost of Political Connections (non-technical summary here)
- Sophie A. Shive and Margaret M. Forster, The Revolving Door for Financial Regulators
- Truong X. Duong, Zsuzsa R Huszár, Ruth S. K. Tan, Weina Zhang, The Information Value of Stock Lending Fees: Are Lenders Price Takers?
- Bo Becker, Victoria Ivashina: Financial Repression in the European Sovereign Debt Crisis
- Hamid Boustanifar, Everett Grant, Ariell Reshef: Wages and Human Capital in Finance: International Evidence, 1970–2011
- Alexander Popov and Neeltje Van Horen for Exporting Sovereign Stress: Evidence from Syndicated Bank Lending during the Euro Area Sovereign Debt Crisis
- Markus K. Brunnermeier and Martin Oehmke for Predatory Short Selling
- Peter Bossaerts, Cary Frydman, and John Ledyard for The Speed of Information Revelation and Eventual Price Quality in Markets with Insiders: Comparing Two Theories
- Laurent Bach Are Small Businesses Worthy of Financial Aid? Evidence from a French Targeted Credit Program
- Francesco Franzoni, Evgeny Lyandres, David Schoenherr
- Taylor Begley, Jonathan B. Cohn, and Cary Frydman