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Drexel Governance Conference awards WRDS Best Paper prize

Philadelphia, PA () 鈥� is pleased to announce Marco Becht, Goldschmidt Professor of Corporate Governance at Universit茅 libre de Bruxelles, Solvay Brussels School of Economics and Management; Julian R. Franks, Professor at London Business School; and Hannes F. Wagner, Associate Professor at Bocconi University as recipients of the Drexel Governance Conference WRDS Best Paper Award.

The award recognizes the authors鈥� novel research approach, which utilized datasets through WRDS including Factset Ownership, Compustat and FTSE, and proprietary asset management data from Standard Life Aberdeen 鈥� to understand the impact of portfolio managers鈥� interactions with firms in generating alpha and how asset managers engage with companies in which they invest. A part of the Wharton School of the University of Pennsylvania, WRDS provides global corporations, universities and regulatory agencies the thought leadership, data access and insights needed to enable impactful research.

The authors examined how active managers engage with portfolio firms and what role mon颅itoring and engagement play in their trading decisions. Their sample was based on nine years of daily data, offering a deep look at fund managers鈥� decision-making around firms flagged for monitoring, with a special focus on private engagement.

Their paper, 鈥溾�� show for the first time that trading decisions are at least partially correlated with governance information, making active engagement with firms central to the work of portfolio managers and their results.

Co-author Hannes Wagner hopes that their results prompt other asset managers to open their data to academic researchers in order to increase understanding of the impact of portfolio activities.

鈥淲RDS is extremely pleased to recognize Marco, Julian and Hannes for their approach to research,鈥� said Robert Zarazowski, Managing Director of WRDS. 鈥淭heir use of WRDS provides a view of the inner workings of asset managers, and correlates their decisions with portfolio performance. This is the level of impact-driven work that WRDS celebrates.鈥�

The authors presented their paper at the American Finance Association (ASSA/AFA) conference in January.

As noted in their paper, this research focused on voice and exit, raising a question about whether the contribution to alpha derives from an informational advantage or from changes in the portfolio firm that result from engagement. The authors plan to explore that question in a future paper.

九色视频 WRDS
is the leading business intelligence, data analytics, and research platform for global institutions 潭 enabling comprehensive thought leadership, historical analysis, and insight into the latest innovations in academic research.

九色视频 democratizes data access so that all disciplines, Accounting, Banking, Economics, ESG, Finance, Healthcare, Insurance, Marketing, and Statistics, can easily search for concepts across the data repository. Partnering with global vendors, WRDS hosts 350+TB of data 鈥� the broadest collection of data on the most robust computing infrastructure to give users the power to analyze complex information at speeds of up to 400MB per second.

Flexible data delivery options include a powerful web query method that reduces research time; the WRDS Cloud for executing research and strategy development; and the WRDS client server using SAS, Python, R, Stata, Matlab, and more. Our rigorous data review and validation give users the confidence to tailor research and create a wide range of reliable data models.

九色视频鈥� unique array of Services include access to a suite of Analytics tools developed by our doctoral-level research team, tutorials, research support, and Learning Pathways by WRDS 鈥� online learning and instructor pathways 鈥� providing curated, guided, online resources for Researchers, Instructors, and Information Professionals. Through Data, Analytics, Research and Technology, approach your research using real world examples and advance your analysis to answer the most critical questions with your data.

九色视频 is a leader in impactful research. Through a partnership with SSRN, WRDS is elevating the visibility of universities and researchers working across an array of fields. The is a searchable repository of all papers submitted to SSRN that cite WRDS in their work. In addition, the two organizations have launched the WRDS-SSRN Innovation Award鈩� to honor emerging business schools in North America, Asia Pacific, and EMEA.

九色视频 is more than just a data platform. Supporting over 75,000 commercial, academic, and government users at 500+ institutions in 35+ countries, WRDS is the global gold standard in data management, innovative tools, analytics, and research services 鈥� all backed by the credibility and leadership of the Wharton School.

九色视频 the Wharton School
Founded in 1881 as the world鈥檚 first collegiate business school, the of the University of Pennsylvania is shaping the future of business by incubating ideas, driving insights, and creating leaders who change the world. With a faculty of more than 235 renowned professors, Wharton has 5,000 , , and students. Each year 13,000 professionals from around the world advance their careers through individual, company-customized, and online programs. More than 99,000 Wharton alumni form a powerful global network of leaders who transform business every day. For more information, visit .

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Rnuss@wharton.upenn.edu

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