BlackRock Applied Research Award

Exceptional thinking exceptional results.

Application due date: October 19, 2022 Event date: December 7, 2022

Announcement: 2022 BlackRock Applied Research Award Winner

We are delighted to announce the winner of the 2022 BlackRock Applied Research Award: Claudio Rizzi in the Finance program from the University of Miami for his paper and research on "Nature as a Defense from Disasters: Natural Capital and Municipal Bond Yields".

We also congratulate Claudio's fellow finalists:

Maxime Bonelli, HEC Paris, Finance
Hoa Briscoe-Tran, Ohio State University, Finance
Shushu Liang, Harvard University, Economics
Paul Yoo, University of North Carolina, Finance

What is the Applied Research Award?

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Now in its eighth edition, the BlackRock Applied Research Award recognizes the top five job market papers submitted by PhD candidates on a practical topic pertaining to financial markets, economics, investment management, or risk management.

The Award will grant $20,000 to the winning job market paper submitted by PhD candidates and $2,500 to the runners-up. Job market papers should be based on quantitative research and provide practical solutions to the challenges faced by investors and risk managers.

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2022 Academic Panel


  • Andrew Ang, BlackRock, Managing Director, Head of Factors, Sustainable and Solutions
  • Sudheer Chava, Georgia Institute of Technology, Alton M. Costley Chair and Professor of Finance, Finance Area Coordinator, Scheller College of Business, Professor, CSE and College of Computing, Director Quantitative and Computational Finance (QCF) Program
  • Gerald Garvey, BlackRock, Managing Director, Head of Sustainability Research
  • Robert Korajczyk, Kellogg School of Management at Northwestern University, Harry G. Guthmann Professor of Finance, co-director of the Center for Financial Institutions and Markets, and Director of Graduate Studies at the Department of Finance
  • Antoinette Schoar, MIT Sloan School of Management, Stewart C. Myers-Horn Family Professor of Finance

Want to apply? What you need to know:

Candidates must send their applications to applied research award by October 19, 2022.

The BlackRock Applied Research Award Academic Panel will review all submissions and notify the 5 finalists by November 22, 2022.
Finalists will be invited to defend their job market paper on Wednesday, December 7, 2022.

Award determination will be made by BlackRock’s Applied Research Award Academic Panel which consists of a panel of finance leaders from BlackRock and academia.

To be considered for the award the application must contain:

    • The candidate’s PhD job market paper. Important note: we request that all names and personal references be removed from the content in job market papers to ensure an unbiased review by our committee. This includes authors(s) names and affiliations, acknowledgments, seminars/conferences where the paper was presented, etc.
    • The candidate’s resume
    • A recommendation letter from the dissertation chair
    • Confirmation of your presence in the coming job market and for the first time. This confirmation may be provided by the dissertation chair (including through the recommendation letter) or by the head of the PhD program or the school department.

*All documents included in your application should be titled beginning with your last name