Investor Responsibility Research Center Institute
Opens Research Award Competition with Two $10,000 Awards

Second Annual Contest for Best Research on Post-Modern Portfolio Theory: Uniting the Real Economy with Portfolio & Investment Theory

The Investor Responsibility Research Center (IRRC) Institute has opened its second annual competition for research that examines the interaction of the real economy with investment theory. Two papers - one academic and one practitioner - each will receive the "2013 IRRC Institute Research Award" along with a $10,000 award.

PAPER SUBMISSION PROCEDURE: Award submissions are due online by Friday, November 30, 2012, and winners will be notified and announced by February 2013. More information regarding the award process, submission guidelines and calendar is available at: along with the award submission form, a Fact Sheet and Frequently Asked Questions.

JUDGES: A blue-ribbon panel of renowned judges with broad finance and investment experience will carefully review submissions and select two winning papers. The panel of judges includes:
- Mark Anson, Managing Partner & Chief Investment Officer, Oak Hill Investment Management
- Robert Arnott, Chairman, Research Affiliates
- Collette Chilton, Chief Investment Officer, Williams College
- James Hawley, Professor & Director, Elfenworks Center for Fiduciary Capitalism, Saint Mary's College of California
- Bill Miller, Chairman, Legg Mason Capital Management

Biographies of the judges are available at:

AWARD RECIPIENTS: The competition builds on this year's inaugural award. The 2012 award recipients include:
- Steve Lydenberg received the practitioner award and $10,000 for research on fiduciary obligation (Reason, Rationality and Fiduciary Duty). The research is available at:
- Professor Menachem Brenner and Dr.Yehuda Izhakian at New York University the Stern School of Business received the academic award and $10,000 for research about how stock prices are impacted by ambiguity, the unknown probabilities that generate risk (Asset Pricing and Ambiguity: Empirical Evidence). The research is available at:

IRRC AWARD CONTACT: Jon Lukomnik, +1.212.344.2424

Posted 5/15/12