Maureen O’Hara receives 2016 JFQA William F. Sharpe Best Paper Award
“Differential Access to Price Information in Financial Markets,” a paper co-authored by Maureen O’Hara, professor of finance at the Samuel Curtis Johnson Graduate School of Management in the Cornell SC Johnson College of Business, has won the 2016 William F. Sharpe Award for Scholarship in Financial Research from the Journal of Financial and Quantitative Analysis. The article, co-authored by David Easley, Cornell professor of economics, and Liyan Yang, PhD ’10, an associate professor of finance at the University of Toronto, examines how the direct sale of market data by exchanges affects price discovery, the cost of capital, return volatility, market liquidity, and trader welfare.
“This well-deserved honor highlights both the high quality and relevance of Professor O’Hara’s research,” commented Mark Nelson, the Johnson School’s Anne and Elmer Lindseth Dean. “She is a remarkable scholar, distinguishing herself with her research as well as with her teaching.”
Established in 1999, the William F. Sharpe award recognizes the research paper published in the JFQA that has contributed the most to the understanding of an area of financial economics in a given year. The award, which carries with it a $5,000 prize, is named for William F. Sharpe, a financial economist and winner of the 1990 Nobel Prize in economics.