Associate Professor Christopher Hennessy has won his third Brattle Prize in four years for a distinguished paper in the Journal of Finance.
Hennessy, a member of the Haas Finance Group, received the prize for his August 2007 Journal of Finance article titled "How Costly Is External Financing? Evidence from a Structural Estimation," co-authored with Professor Toni M. Whited of the Wisconsin School of Business.
Brattle Prizes are awarded annually by the Journal of Finance for outstanding papers on corporate finance, with the winners chosen by the journal's associate editors. The awards include a $10,000 first prize and two $5,000 distinguished paper prizes. Hennessy received the $5,000 distinguished paper prize at the annual meeting of the American Finance Association, held in January in New Orleans.
"The honor Christopher has received is yet another demonstration of the extraordinarily high quality of the Haas faculty," says James Lincoln, associate dean for academic affairs.
Hennessy was previously honored with Brattle Prizes in 2004 and 2005. He received a distinguished paper prize for his August 2004 Journal of Finance article "Tobin's Q, Debt Overhang, and Investment" and a $10,000 first prize for his June 2005 article "Debt Dynamics," also co-authored with Whited.