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European Finance Association Honors Two Chicago GSB Faculty


The European Finance Association has awarded two faculty members at the University of Chicago Graduate School of Business the 2006 Barclays Global Investors Prize for the best research paper presented at the association’s annual conference in Zurich, August 23 to 26.

Lubos Pastor and Pietro Veronesi, both professors of finance, were honored for their paper “Technological Revolutions and Stock Prices.” Their research explains why stock prices of innovative companies tend to exhibit bubble-like patterns during technological revolutions. The paper is available for download from the Social Science Research Network.

Pastor teaches courses in portfolio management. He also serves as an associate editor of the Journal of Finance, Journal of Financial Economics, and the Review of Financial Studies. He received his undergraduate education at Comenius University in Slovakia and a Ph.D. from the Wharton School of the University of Pennsylvania.

Veronesi teaches fixed income asset pricing, mathematical models of option pricing, and cases in financial risk management. He also serves as an associate editor of Management Science, Journal of Financial Econometrics, and Journal of Financial and Quantitative Analysis He graduated laurea summa cum laude from Bocconi University in Milan and received a Ph.D. from Harvard University.

Both Pastor and Veronesi are also affiliated with the National Bureau of Economic Research as well as the Centre for Economic Policy Research.

The European Finance Association is a professional society of academics and practitioners with an interest in financial management, financial theory and its application.

The University of Chicago Graduate School of Business is one of the leading business schools in the world. It offers full-time and part-time MBA programs, a Ph.D. program, open enrollment executive education and custom corporate education. The school has campuses in London and Singapore in addition to two campuses in Chicago.