Professor Daniel Paravisini and Dr Juanita Gonzalez-Uribe were awarded the Seventh Jaime Fernandez de Araoz Award for Corporate Finance at a ceremony in Madrid on 19th September 2017.
The award, presented by His Majesty the King Felipe VI of Spain, aims to contribute to the advancement of economics and corporate finance by recognising applied research in this field. Sponsored in this edition by Deutsche Bank, CUNEF and Universia, the award includes a financial prize of 10,000 euros and a sculpture by Martín Chirino.
Daniel Paravisini and Juanita Gonzalez-Uribe’s co-authored paper ‘How Sensitive is Young Firm Investment to the Cost of Outside Equity? Evidence from UK Tax Relief’ contains the first study of the effects of the cost of external finance on investment in young businesses or start-ups. The results presented in their paper represent a major step forward in characterising the determining factors for investment by young firms, providing important evidence with regard to the positive impact of programmes that provide incentives for investment in young businesses.
The paper was chosen out 31 works by 77 authors from 20 different countries to win the prize.
Juanita González-Uribe is Assistant Professor at the London School of Economics (LSE). Her research covers areas such as entrepreneurship, private equity and innovation in a range of countries, such as Chile, Colombia, the United Kingdom and the USA. She has been honoured with both the Kauffman and Coller awards for her research work. She has a Doctorate in Finance from the Columbia University and a Masters in Economics and Finance, along with a degree in Mathematics from the University of the Andes (Colombia).
Daniel Paravisini is Professor of Finance at the London School of Economics and a member of the Centre for Economic Policy Research, the Bureau for Research and Economic Analysis of Development, the International Growth Centre, the Financial Markets Research Group and the SME Initiative at Innovations for Poverty Action. He has received the Brattle and Charles River Associates awards for his research work. He obtained a Doctorate in Economics from MIT, an MBA from the Caracas Institute of Advanced Studies in Administration and a Degree in Mechanical Engineering from Simón Bolívar University in Caracas.