The French financial markets authority has rewarded Prof. Paul Karehnke for his work, particularly in the field of asset pricing and behavioral finance.

Created by the Autorité des marchés financiers (AMF) in 2015 with the aim of supporting academic research on topics related to regulation and markets, the Young Researcher Award in economics rewards the work of researchers under 35 years of age on economic and financial topics of interest to the market regulator.

Paul Karehnke's research focuses on asset pricing and behavioral finance, and have been published in leading journals such as Journal of Financial Economics, Journal of Financial and Quantitative Analysis (JFQA), Management Science and Review of Finance.
The AMF was particularly sensitive to a paper casting doubt on crowding as a stand-alone source of tail risk (soon to be published in the JFQA), which he will present to the members of the AMF's Scientific Council in January 2022, at the meeting where he will officially receive his €5,000 prize.

“Congratulations for this prestigious award that helps enhance the image of research excellence of ESCP not only to the academic community but also the finance industry because this award is made by the market authority,” commented Associate Dean for Research, Pramuan Bunkanwanicha, who knows what he is talking about as he is also a professor of finance.