BlackRock Applied Research Award

Exceptional thinking exceptional results.

Application due date: October 20, 2021 Event date: December 2, 2021

Announcement: 2021 BlackRock Applied Research Award Winner

We are delighted to announce the winner of the 2021 BlackRock Applied Research Award: Alexandru Barbu in the Finance program from the London Business School for his paper and research on "Ex-Post Loss Sharing in Consumer Financial Markets".

We also congratulate Alexandru's fellow finalists:

Antonio Coppola, Harvard University, Economics
Simon Schmickler, Princeton University, Economics
Aymeric Bellon, University of Pennsylvania, Wharton, Finance
David Yang, Stanford University, Finance

What is the Applied Research Award?

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Now in its sixth 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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2021 Academic Panel


  • Andrew Ang, BlackRock, Managing Director, Head of Factor-Based Strategies Group
  • Anna Cieslak, Duke University, Fuqua School of Business, Associate Professor of Finance
  • Robert Engle, New York University Stern School of Business, Michael Armellino Professor of Management and Financial Services, Co-Director of The Volatility and Risk Institute, 2003 Nobel Prize in Economics
  • Ravi Jagannathan, Kellogg School of Management at Northwestern University, CME Group/John F. Sandner Chair of Finance, Co-Director of Financial Institutions and Markets Research Center
  • Ronald Kahn, BlackRock, Managing Director, Global Head of Systematic Equity Research
  • David Thesmar, MIT Sloan School of Management, Franco Modigliani Professor of Financial Economics, Professor of Finance

Want to apply? What you need to know:

Candidates must senesearch Award Academic Panel will review all submissions and notify the 5 finalists by d their applications to applied research award by October 20, 2021.

The BlackRock Applied Research Award Academic Panel will review all submissions and notify the 5 finalists by November 24, 2021.
Finalists will be invited to defend their job market paper on Thursday, December 2, 2021.

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