CBS researcher receives EliteForsk award

Front page photo; Market, photo: Rie Neuchs

What determines price development on shares, bonds and other assets? This is the overall question that Lasse Heje Pedersen, Professor at the Department of Finance and Center for Financial Frictions (FRIC), is working to answer through his research. For this work he will receive the EliteForsk award on Thursday from the Ministry of Higher Education and Science.

- I am happy and very much hope that we, in Denmark, can focus even more on research and education. For example, it is interesting to see how our research centre, FRIC, and funds from the European Research Council, ERC, can help attract and develop talents.”

With the award comes DKK 1.2 million. DKK 200,000 is an honorary gift and DKK 1,000,000 is for research activities. Lasse Heje Pedersen will use the money for research activities to give some lucky PhD students more time for their research, so they have a chance to establish themselves among the world elite. And he believes an honorary gift is also a good excuse for a party.

Leading expert
Five of Denmark's most talented young researchers will receive the award, which will be presented on Thursday at a festive event by H.R.H. Crown Princess Mary and Sofie Carsten Nielsen, the Minister of Higher Education and Research. In their motivation for giving the award to Lasse Heje Pedersen, the Ministry of Higher Education and Science states:

- Lasse Heje Pedersen’s research focuses on how financial frictions affect the price of financial assets.  This is a field of research which has become increasingly interesting after the financial crisis and which has had extensive consequences for the economy and for society.  Lasse Heje Pedersen is one of the world’s leading experts in this area.  He has e.g. demonstrated how liquidity spirals occur, and his research has also been mentioned several times in connection with the motivation for the Nobel Prize.

Knowledge based on experience
Carsten Lund Pedersen, PhD student, MSoc.Sc.SEM at Center for Global Strategic Responsiveness, will receive an EliteForsk travel scholarship of DKK 200,000. The scholarship is awarded to 20 talented young PhD students to help them transfer their studies to other universities for a period of time. The scholarship is awarded for his research in using knowledge-based experience from front-end staff and customers in making strategic business decisions.

Carsten Lund Pedersen plans to use the scholarship for a stay at the Masachusetts Institute of Technology’s Center for Collective Intelligence.

Read more about Lasse Heje Pedersen's research

Read more about Carsten Lund Pedersen's research

Read more about the EliteForsk Award