Chicago Booth’s Ralph Koijen earns Fischer Black Prize honoring top finance scholar under 40

Prof. Ralph Koijen of the University of Chicago Booth School of Business has been awarded the 2019 Fischer Black Prize by the American Finance Association.

The prize is awarded to the person under 40 whose work best exemplifies the Fischer Black hallmark of developing original research that is relevant to finance practice. The AQR Capital Management Professor of Finance, Koijen conducts research on asset pricing and macroeconomics, insurance markets and financial econometrics.

UChicago economists have earned the biennial prize four of the eight years it has been awarded, with past winners including Profs. Amir Sufi (2017); Tobias Moskowitz (2007, now at Yale); and Raghuram Rajan (2003 inaugural prize). The prize is named in honor of the late Fischer Black, former partner at Goldman Sachs and professor of finance at Chicago Booth and the Massachusetts Institute of Technology. His seminal research included the development (with UChicago Nobel laureate Myron Scholes, MBA’64, PhD’70) of the widely applied Black-Scholes Option Pricing Model.

Koijen is a Fama Faculty Fellow and research associate at the National Bureau of Economic Research, and a research fellow of the Center for Economic Research. He is a co-editor of the Review of Financial Studies.

Prior to joining the Chicago Booth faculty, Koijen was a professor of finance at the London Business School and NYU Stern School of Business; he also was an assistant and associate professor of finance at Booth.

—Adapted from a story that first appeared on the Chicago Booth website.