Warwick Business School

A research paper on the bond market has been awarded the prestigious Fama-DFA Prize for Capital Markets and Asset Pricing by the Journal of Financial Economics. Their paper titled “Priced risk in corporate bonds”, authored by Cesare Robotti and Phillippe Mueller from Warwick Business School, explores errors in 2019 bond market data, including misaligned return factors and omissions of extreme bond losses, skewing volatility perceptions. This recognition highlights the paper’s significant contribution to understanding the dynamics of capital markets. The Fama-DFA Prize is one of the highest honors in finance research, recognizing excellence in empirical studies.

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