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Department of Finance lecturer and former student take top two prizes at annual awards

A senior finance lecturer at LSE and a former PhD student have won prizes for outstanding academic papers published in the internationally-renowned Journal of Finance.

Dr Ulf AxelsonDr Ulf Axelson's article was awarded the Brattle Group Prize for best corporate finance paper, while Dr Peter Kondor, who wrote his paper at LSE as part of his thesis, won the Smith Breeden Prize, an award for best paper in any area other than corporate finance.

The winners were announced at the annual meeting of the American Finance Association in Atlanta, Georgia, last week. The annual awards recognise the best articles published in the journal over the past year and the winners, who each receive $10,000, are picked by the journal's associate editors.

Ulf Axelson's paper, Why are Buyouts Levered? The Financial Structure of Private Equity Funds, published in August 2009, was co-written with Per Strömberg, from Stockholm School of Economics, and Michael Weisbach, from Ohio State University.

'It's a theory about why the leveraged buyout fund has emerged as the dominant organisational form to finance private equity activity,' he explains. 'It is very exciting and encouraging to be recognised in this way by your colleagues in the profession.'

Dr Peter KondorPeter Kondor, now Assistant Professor of Economics at the Central European University (CEU), wrote his paper Risk in Dynamic Arbitrage: The Price Effects of Convergence Trading, as part of his PhD thesis under the supervision of Dimitri Vayanos.

Professor David Webb, head of the Department of Finance, said: 'Congratulations to both Ulf and Peter.

'This is excellent news for the Department of Finance. It is further recognition that both the research undertaken by our faculty and the quality of our PhD programme are at the forefront in the field.'

11 January 2010

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