Professor Richard Priestley has been presented with BI Norwegian Business School’s 2013 Research Award for his world-class financial research. - I am very happy to receive the prize, states Priestley.

KNOWLEDGE @ BI: BI's Research Prize 2013

Professor Richard Priestley at the Department of Financial Economics has been awarded the BI Norwegian Business School 2013 Research Award, which consists of a diploma and NOK 150 000.

“I'd like to thank the school for awarding me the prize and to thank all my co-authors who I collaborated with over the years. In addition, my colleagues here at BI, at the school's emphasis on providing an excellent research enviroment, have been important in the development of my academic career”, says Richard Priestley.

Presented every three years, BI’s research award is both highly coveted and prestigious.

“The combination of productivity, academic level and relevance means that Richard Priestley must currently rank as the top financial researcher in the Nordic countries,” said BI President Tom Colbjørnsen at the award ceremony.

Stiff competition for the award

In order to be eligible, relevant candidates must have high academic recognition, status and significance within their field, nationally as well as internationally. Furthermore, they must excel by:

  • Contributing to and publishing research of top quality
  • Contributing to the establishment and strengthening of their own academic environment through their efforts to create a good working  environment and promote research

In judging the candidates, the jury placed particular emphasis on the scope and quality of published research articles in 2010, 2011 and 2012.

According to the jury, competition for the award was particularly stiff this year. “The quality of the research work of the candidates is generally very high,” the jury wrote in its citation.

World-class research

During the past five years, Richard Priestley has published three articles in the world’s top three financial periodicals. Over the past three years, he has published, or had accepted, five peer-reviewed articles, four of which are in academic periodicals.

Priestley also scores well in the criterion “establishment and strengthening of their own academic environment through their efforts to create a good working environment and promote research”.

As a fairly new department head, he has proven to be a research leader who contributes significantly to the further strengthening of BI’s financial research environment.

“His ability to recruit new and promising staff in what must be deemed as the most competitive field among business schools, is one important factor,” the jury writes in its citation.

Role model

Internally in the department, Priestley, as a role-model within research and personal advisor, also sets new standards that staff strive to achieve. This includes participating in the international research community.

Priestley has proven this by co-authoring articles with many colleagues internationally, as well as articles with own staff.

“I think that the prize provides a way for the school to encourage, emphasise and acknowledge excellence in research. This is the most important driver in the school achieving its overall strategy of becoming a leading European business school”, says Richard Priestley.


  • Ilan Cooper, Richard Priestley (2011). Real Investment and Risk Dynamics, Journal of Financial Economics 101, 185-205.
  • Long Chen, Zhi Da, Richard Priestley (2012). Dividend Smoothing and Predictability, Management Science 58, 1834-1853.
  • Ian Garrett and Richard Priestley (2012). Dividend Growth, Cash Flow and Discount Rate News, Journal of Financial and Quantitative Analysis 47, 1003-1028.

Text: Audun Farbrot, Head of Science Communication at BI Norwegian Business School (E-mail:


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