Each year, the Associate Editors of The Journal of Finance – published by the American Finance Association (AFA) – select three winners to receive The Brattle Group Prizes for outstanding papers in corporate finance. The Brattle Group has supported these annual awards for 25 years to recognize the importance of excellence in providing groundbreaking analysis and debate on compelling issues facing the corporate finance community. All papers published in issues of The Journal of Finance from the first five issues of the given year, and December of the previous year, are eligible.

The winners of the 2023 Brattle Group Prize in Corporate Finance are:

First Prize, $25,000: Daniel Paravisini, Veronica Rappoport, and Philipp Schnabl
Specialization in Bank Lending: Evidence from Exporting Firms
The Journal of Finance, June 2023

Distinguished Paper, $10,000: Davidson Heath, Matthew C. Ringgenberg, Mehrdad Samadi, and Ingrid M. Werner
Reusing Natural Experiments
The Journal of Finance, May 2023

Distinguished Paper, $10,000: Sasha Indarte
Moral Hazard versus Liquidity in Household Bankruptcy
The Journal of Finance
, July 2023

This year’s awards were announced at the AFA’s Annual Meeting 2024, which took place January 5–7 in San Antonio, TX. We congratulate the winners on their achievements!

View a complete list of past winners

More about the AFA