Hayong Yun, assistant professor of finance at Michigan State University’s Broad College of Business, has been awarded the 2013 Brattle Group First Prize in Corporate Finance—one of the highest honors in finance. The Brattle Group Prize is awarded annually to the best corporate finance paper published in the prestigious and highly selective Journal of Finance.

Yun was recognized for his paper, “Risk Management and Firm Value: Evidence from Weather Derivatives,” which appeared in the October 2013 issue. The paper examines the casual impact of risk management on firms’ market value as well as financing and investment activities

Hayong Yun with award

Hayong Yun

. Yun received his award at the American Finance Association’s Annual Meeting, held January 3-5 in Philadelphia.

“The Brattle Group Prize is the ultimate recognition a researcher can receive in finance,” said Naveen Khanna, chair of the Department of Finance and A.J. Pasant Endowed Chair in Finance. “This award is a tremendous achievement for Hayong and also an honor for the Broad College and Michigan State University.”

Yun graduated from Seoul National University with an undergraduate degree in mechanical engineering. He holds a PhD in mechanical engineering from the Massachusetts Institute of Technology and a PhD in finance from Columbia University. He joined the Broad College in 2013 from the University of Notre Dame, where he was an assistant professor of finance. Yun previously received the JPMorgan Chase Review of Financial Studies Young Researcher Prize. He is an expert in corporate finance, specializing in financial contracts and risk management.