Press Releases

2015 BlackRock Applied Research Award Winner Announced

Dec 08, 2015

New York December 8, 2015 – BlackRock, Inc. (NYSE: BLK) is pleased to announce that the winner of the 2015 BlackRock Applied Research Award is Andrew Wu for his paper “Shock Spillover and Financial Response in Supply Chain Networks: Evidence from Firm-Level Data.” As the winner of the inaugural BlackRock Applied Research Award, Wu, who is a 5th-year PhD student of Finance at University of Pennsylvania’s Wharton School, will receive $25,000.

The BlackRock Applied Research Award recognizes the top job market paper submitted by PhD candidates on a practical topic pertaining to financial markets, economics, investment management or risk management.  This year’s competition attracted submissions from schools across the US and Europe, with papers ranging in focus from the effects of monetary policy on consumption in a world of aging population to the study of financial consequences of supply chain shocks using innovative data science techniques.

In addition to Wu, the four other finalists of the 2015 BlackRock Applied Research Award were: Olivier Darmouni, Bendheim Center for Finance, Princeton University; Ryan Lewis, Finance Department, London Business School, Binying Liu, Finance Department, Kellogg School of Management, Northwestern University; and Arlene Wong, Economics Department, Northwestern University.

Papers were assessed on a number of criterion, including the demonstration of thought leadership, a focus on a practical problem of relevance, the use of advanced quantitative techniques, the analysis of an interesting new data set and the offering of a practical solution.

The BlackRock Applied Research Award Jury included:

  • Wei Jiang, Arthur F. Burns Professor of Free and Competitive Enterprise, Columbia Business School
  • Ronald Kahn, Managing Director, Global Head of Scientific Equity Research at BlackRock
  • Andrew Lo, Charles E. and Susan T. Harris Professor of Finance and Director, Laboratory for Financial Engineering, MIT Sloan School of Management
  • Jessica Wachter, Richard B. Worley Professor of Financial Management, The Wharton School, University of Pennsylvania




Media Contact:


  • Diane Henry: +1 415 670 4567

About BlackRock

BlackRock is a leader in investment management, risk management and advisory services for institutional and retail clients worldwide. At September 30, 2015, BlackRock’s AUM was US$4.506 trillion. BlackRock helps clients meet their goals and overcome challenges with a range of products that include separate accounts, mutual funds, iShares® (exchange-traded funds), and other pooled investment vehicles. BlackRock also offers risk management, advisory and enterprise investment system services to a broad base of institutional investors through BlackRock Solutions®. Headquartered in New York City, as of September 30, 2015, the firm had approximately 12,900 employees in more than 30 countries and a major presence in key global markets, including North and South America, Europe, Asia, Australia and the Middle East and Africa. For additional information, please visit the Company’s website at | Twitter: @blackrock_news | Blog: | LinkedIn: