The globally renowned Smith School excels in business research and offers a top-tier educational experience within a supportive community. Annually, it honors outstanding faculty and staff with prestigious awards.

Maryland Smith’s Serhiy Kozak won the 2020 Fama-DFA Prize for the best paper published in the Journal of Financial Economics in the area of capital markets and asset pricing. Kozak’s research, “Shrinking the Cross Section,” was published in the February 2020 issue of the journal.

Researchers have struggled with using characteristics-based factor models to summarize cross-sections of stock returns. Homing in on a few characteristics was seen as a potential solution. But new Maryland Smith research has other ideas.

New research is important for understanding which economic forces might move expected stock returns in the first place.

Some traders time the market, others look for signs to get the most bang for their buck. But what’s the best method? Both, says new research.