Jensen Prizes for the Best Papers Published
in the Journal of Financial Economics
in the Areas of Corporate Finance and Organizations

Paper	Author(s)
2011
First Place Winners
Ownership structure and the cost of corporate borrowing Volume 100, Issue 1, April 2011, Pages 1-23	Chen Lin, Yue Ma, Paul Malatesta, and Yuhai Xuan
Second Place Winner
The causes and consequences of venture capital stage financing Volume 101, Issue 1, July 2011, Pages 132-159	Xuan Tian
2010
First Place Winners
The marketing of seasoned equity offerings. Volume 97, Issue 1, July 2010, Pages 33-52	Xiaohui Gao and Jay Ritter
Second Place Winners
Seasoned equity offerings, market timing, and the corporate lifecycle Volume 95, Issue 3, March 2010, Pages 275-295	Harry DeAngelo, Linda DeAngelo, and René M. Stulz
2009
First Place Winners
Share issuance and cross-sectional returns: International evidence Volume 94, Issue 1, October 2009, Pages 1-17	R. David McLean, Jeffrey Pontiff, and Akiko Watanabe
Second Place Winners
Are elite universities losing their competitive edge? Volume 93, Issue 3, September 2009, Pages 353-381	E. Han Kim, Adair Morse, and Luigi Zingales
2008
First Place Winners
Why do private acquirers pay so little compared to public acquirers? Volume 89, Issue 3, September 2008, pages 375-390	Leonce L. Bargeron, Frederik P. Schlingemann, René M. Stulz, and Chad J. Zutter
Second Place Winners
Managerial incentives, capital reallocation, and the business cycle Volume 87, Issue 1, January 2008, pages 177-199	Andrea L. Eisfeldt, and Adriano A. Rampini
2007
First Place Winners
Does backdating explain the stock price pattern around executive stock option grants? Volume 83, Issue 2, February 2007, pages 271-295	Randall A. Heron and Erik Lie
Second Place Winners
Theft and taxes Volume 84, Issue 3, June 2007, pages 591-623	Mihir A. Desai, Alexander Dyck, and Luigi Zingales
Financial fraud, director reputation, and shareholder wealth Volume 86, Issue 2, November 2007, pages 306-336	Eliezer M. Fich and Anil Shivdasani
2006
First Place Winners
Tax shelters and corporate debt policy Volume 81, Issue 3, September 2006, pages 563-594	John R. Graham and Alan L. Tucker
Second Place Winners
Are perks purely managerial excess? Volume 79, Issue 1, January 2006, pages 1-33	Raghuram G. Rajan and Julie Wulf
Profitability, investment and average returns Volume 82, Issue 3, December 2006, pages 491-518	Eugene F. Fama and Kenneth R. French
2005
First Place Winners
Payout policy in the 21st century Volume 77, Issue 3, September 2005, pages 483-527	Alon Brav, John Graham, Roni Michaely, and Campbell R. Harvey
Second Place Winners
The effect of external finance on the equilibrium allocation of capital Volume 75, Issue 1, January 2005, pages 133-164	Heitor Almeida, and Daniel Wolfenzon
2004
First Place Winners
Are dividends disappearing? Dividend concentration and the consolidation of earnings Volume 72, Issue 3, June 2004, pages 425-456	Harry DeAngelo, Linda DeAngelo, and Douglas J. Skinner
Second Place Winners
Is the IPO pricing process efficient? Volume 71, Issue 1, January 2004, pages 3-26	Michelle Lowry and G. William Schwert
2003
First Place Winners
Stock market driven acquisitions Volume 70, Issue 3, December 2003, pages 295-311	Andrei Shleifer and Robert W. Vishny
Second Place Winners
Testing the pecking order theory of capital structure Volume 67, Issue 2, February 2003, pages 217-248	Murray Z. Frank and Vidhan K. Goyal
2002
First Place Winners
Does diversification destroy value? Evidence from industry shocks Volume 63, Issue 1, January 2002, pages 51-77	Owen A. Lamont and Christopher Polk
Second Place Winners
Investor protection and equity markets Volume 66, Issue 1, October 2002, pages 3-27	Andrei Shleifer and Daniel Wolfenzon
2001
First Place Winners
The theory and practice of corporate finance: Evidence from the field Volume 60, Issue 2-3, May/June 2001, pages 187-243	John R.Graham and Campbell R. Harvey
Second Place Winners
Disappearing dividends: changing firm characteristics or lower propensity to pay? Volume 60, Issue 1, April 2001, pages 3-43	Eugene F. Fama and Kenneth R. French
2000
First Place Winners
On the optimality of resetting executive stock options Volume 57, Issue 1, July 2000, pages 65-101	Viral V. Acharya Kose John and Rangarajan K. Sundaram
Second Place Winners
Investor protection and corporate governance Volume 58, Issue 1-2, October 2000, pages 3-27	Rafael La Porta Florencio Lopez-de-Silanes Andrei Shleifer and Robert Vishny
1999
First Place Winners
The determinants and implications of corporate cash holdings Volume 52, Issue 1, April 1999, pages 3-46	Tim Opler Lee Pinkowitz René M. Stulz and Rohan Williamson
Second Place Winners (tie)
Deregulation and the adaptation of governance structure: The case of the U.S. Airline industry Volume 52, Issue 1, April 1999, pages 79-117	Stacey R. Kole and Kenneth Lehn
Measuring investment distortions arising from stockholder-bondholder conflicts Volume 53, Issue 1, July 1999, pages 3-42	Robert Parrino and Michael S. Weisbach
1998
First Place Winners
Risk management, capital budgeting, and capital structure policy for financial institutions: an integrated approach Volume 47, Issue 1, January 1998, pages 55-82	Kenneth A. Froot and Jeremy C. Stein
Second Place Winner
Why firms issue convertible bonds: the matching of financial and real investment options Volume 47, Issue 1, January 1998, pages 83-102	David Mayers
1997
First Place Winners (tie)
The complexity of compensation contracts Volume 43, Issue 1, January 1997, pages 79-104	Stacey R. Kole
The decline of takeovers and disciplinary managerial turnover Volume 44, Issue 2, May 1997, pages 205-228	Wayne H. Mikkelson and M. Megan Partch

Fama-DFA Prizes for the Best Papers Published
in the Journal of Financial Economics
in the Areas of Capital Markets and Asset Pricing

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Last Updated on 6/1/2012