The International Centre for Pension Management (ICPM) is pleased to announce the winners of the 2023 Research Awards. The recent call for research garnered a record number of high-quality submissions from around the world.

“The enthusiasm and quality behind the record 100+ submissions we received this year demonstrates the continued need for rigorous academic research that is relevant to asset owners. The ICPM Research Committee thoroughly enjoyed reviewing all the interesting projects – covering a wide range of topics from sustainable investing, optimal pension strategies, communicating with members and more,” says Mikhail Simutin, ICPM Associate Director of Research.

The following submissions are awarded a monetary prize, as well as an invitation to present at various ICPM events, which connect leading pension sector experts and academics from around the world. A webinar series in 2024 will feature presentations by each ICPM Research Award Winner. Stay updated on the webinar series through the ICPM events calendar here or click on direct links below.

First place ($20,000 CAD):

  • “Scale Economies, Bargaining Power, and Investment Performance: Evidence from Pension Plans” by Tjeerd Devries (University of California, San Diego), S. Yanki Kalfa (University of California, San Diego), Allan Timmermann (University of California, San Diego), Russ Wermers (University of Maryland) – Register here for January 30 webinar

Second place ($15,000 CAD):

  • “A Quantity-Based Approach to Constructing Climate Risk Hedge Portfolios” by Georgij Alekseev (Palantir), Stefano Giglio (Yale University), Quinn Maingi (NYU), Julia Selgrad (NYU), Johannes Stroebel (NYU) – Register here for February 27 webinar
  • “Counterproductive Sustainable Investing: The Impact Elasticity of Brown and Green Firms” by Samuel Hartzmark (Boston College), Kelly Shue (Yale University) – Register here for May 28 webinar

ICPM also recognizes the following Honourable Mentions:

  • “Quantifying the Impact of Impact Investing” by Andrew Lo (MIT), Ruixun Zhang (Peking University) – Register here for March 26 webinar
  • “How the Provision of Inflation Information Affects Pension Contributions: A Field Experiment” by Pascal Büsing (Finance Center, University of Muenster, Henning Cordes (Finance Center, University of Muenster), Thomas Langer (Finance Center, University of Muenster) – Register here for April 30 webinar

To access copies of the award-winning submissions, please visit the Research Award website here.

ICPM’s Research Committee is co-chaired by Mikhail Simutin (Rotman School of Management and ICPM Associate Director of Research) and Jaap van Dam (PGGM) and involves the following representatives: Susan Banta (Pew Charitable Trusts), James Davis (OPTrust), Bing Han (Rotman School of Management), Julie Mallory (Ontario Power Generation), Scott McIntosh (OMERS), Gabriel Petre (World Bank), Michael Preisel (Independent), David Richardson (TIAA-CREF Investment Management), Onno Steenbeek (Algemene Pensioen Groep), and Sebastien Betermier (ICPM Executive Director).