Korean Securities Association is pleased to announce the 2013 Best Paper in 

Asia–Pacific Journal of Financial Studies. 

      The First Prize :    

         “Why Do Some Firms Go Debt Free?”

           Soku Byoun(Baylor University)

           Zhaoxia Xu(Polytechnic Institute of New York University)     
 
      The Second Prize :

         “Stock Returns, Housing Returns and Inflation: Is There an Inflation Illusion?“

             Gwangheon Hong(Sogang University)

             Jaeuk Khil(Hanyang University)

             Bong-Soo Lee(Florida State University) 
 
 
 Manuscripts published in Volume 42 of Asia–Pacific Journal of Financial Studies  

 were  eligible for the Best Paper Prize.

 
 
 The presentation of the prize was made at the KSA annual meeting on February  21, 2014.

 Korean Securities Association