European Finance Association

Best Paper Prize in Responsible Finance


Professor Martin Oehmke (London School of Economics) and Professor Marcus Opp (Stockholm School of Economics) are the winners of the European Finance Association’s inaugural EFA Best Paper Price in Responsible Finance.

The award was given at the 47th Annual Meeting held virtually and hosted by Aalto University, August 20-21, 2020. The title of the winning paper is A Theory of Socially Responsible Investment. 


The European Finance Association (EFA) is creating the Best Paper Prize in Responsible Finance during the 2020-2022 period. The aim of this prize is to promote research on the important role that finance plays in societal progress and how a competitive and inclusive financial system can contribute to economic development. Topics include (but are not limited):

    • Role of finance in society.
    • Environmental, Social & Governance (ESG) investing.
    • Impact investing.
    • Sustainable finance.
    • Climate change and finance.
    • Stakeholders vs. shareholders and value creation.
    • Long-term investment, human capital and innovation.
    • Role of the government and financial system on firm creation and growth.
    • Corporate governance.
    • Corporate social responsibility (CSR).


1.        The Prize Committee

The prize committee would include three members – to be selected yearly by the EFA President and EFA Vice-President. The competing papers would be provided by the Program Chair of the annual EFA conference. The committee will select the winner by the end of June. The 2020 committee will include Franklin Allen, Miguel Ferreira, and Kjell Nyborg.

2.        Details of the Prize

The proposed prize will be given together with other EFA best paper prizes at the award ceremony during the EFA Annual Meeting. The prize money would be 3,000 EUR and paid for by the EFA.


3.        Contact information

Please contact Laura Malinverno (l.malinverno[at] for any question regarding this prize.