ICPM oversees an academic research program designed to support effective management in pension and investment organizations. Once a year, ICPM awards CAD $50,000 to academic papers that are of high interest to the network following rigorous peer review by ICPM’s Research Committee.
ICPM Research Award
ICPM Research Awards seek to reward innovation, practical applicability and research excellence on topics with practical relevance for pension organizations. CAD$50,000 will be awarded to exceptional academic papers with implications for fund management, engagement of plan participants, pension design, governance, long-term investing, risk management, ESG issues, and other investment-related topics. To be considered, research should be completed or close to completion but not published. Award winners will be invited to present their research at a webinar or a Discussion Forum.
Research Award Winners
2025
$50,000
Beyond The Status Quo: A Critical Assessment of Lifecycle Investment Advice
Aizhan Anarkulova (Emory University), Scott Cederburg (University of Arizona), Michael S. O’Doherty (University of Missouri)
Runner-Up
The Geography of Savings Opportunities in Retirement Plans
Veronika K. Pool (Vanderbilt University), Clemens Sialm (University of Texas at Austin and NBER), Irina Stefanescu (Board of Governors of the Federal Reserve System), Hanjiang Zhang (Washington State University)
Hon. Mentions
Limited Partner Investments in Private Funds: Committee Decision-Making and Realized Performance
Alon Brav (Fuqua School of Business, Duke University, ECGI and NBER), Guy Lakan (The Hebrew University), Yishay Yafeh (The Hebrew University, CEPR and ECGI)
Shifting from Active to Passive: How Retirement Plans Impact Equity Prices
Riccardo Sabbatucci (SSE and Wharton), Andrea Tamoni (University of Notre Dame), Song Xiao (CUHK)
2024
$20,000
Pension Liquidity Risk
Patty Duijm (De Nederlandsche Bank), Kristy Jansen (University of Southern California), Sven Klingler (BI Norwegian Business School), Angelo Ranaldo (University of St. Gallen and Swiss Finance Institute)
$15,000
Sustainable Investing: Evidence From the Field
Alex Edmans (London Business School), Tom Gosling (London Business School), Dirk Jenter (London School of Economics)
The Rise of Alternatives
Juliane Begenau (Stanford Graduate School of Business), Pauline Liang (Stanford Graduate School of Business), Emil Siriwardane (Harvard Business School)
Hon. Mentions
Organizational Trust and Retirement Plan Investment Choice
Julie R. Agnew (University of William & Mary), Michael J. Gropper (University of North Carolina), Angela Hung (CFPB), Nicole Votolato Montgomery (University of Virginia), Susan Thorp (University of Sydney)
Drawing Up the Bill: Are ESG Ratings Related to Stock Returns Around the World?
Romulo Alves (SKEMA Business School), Philipp Krüger (University of Geneva and SFI), Mathijs van Dijk (Erasmus University)
2023
$20,000
Scale Economies, Bargaining Power, and Investment Performance: Evidence from Pension Plans
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)
$15,000
A Quantity-Based Approach to Constructing Climate Risk Hedge Portfolios
Georgij Alekseev (Palantir), Stefano Giglio (Yale University), Quinn Maingi (NYU), Julia Selgrad (NYU), Johannes Stroebel (NYU)
Counterproductive Sustainable Investing: The Impact Elasticity of Brown and Green Firms
Samuel Hartzmark (Boston College), Kelly Shue (Yale University)
Hon. Mentions
Quantifying the Impact of Impact Investing
Andrew Lo (MIT), Ruixun Zhang (Peking University)
How the Provision of Inflation Information Affects Pension Contributions: A Field Experiment
Pascal Büsing (Finance Center, University of Muenster, Henning Cordes (Finance Center, University of Muenster), Thomas Langer (Finance Center, University of Muenster)