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Kellogg School to award the Moskowitz Prize for social finance research

ImpactAlpha, June 24 – The annual Moskowitz Prize for research on sustainable and responsible investing and the financial implications of responsible business practices is moving to the Kellogg School of Management (also the home of the Kellogg-Morgan Stanley Sustainable Investing Challenge and the Sustainable Finance Faculty Consortium, which is meeting this week).

As interest in impact and sustainable investing grows, so too does the recognition that such strategies can outperform, mitigate risk and be resilient in a crisis. That puts a premium on the type of evidence-based practices the Moskowitz Prize has been celebrating for 25 years.

“This year’s Moskowitz Prize submissions are proving to represent the growth of the field as well as an expansion of issue areas, geographies, asset classes, and investment approaches examined through rigorous analysis,” said Kellogg School’s Megan Kashner. The deadline for this year’s call for papers is June 30. 

  • Follow the talent. The University of California at Berkeley’s Haas School of Business has hosted the prize since 2005. Long-time steward of the prize, Lloyd Kurtz, who heads Wells Fargo’s impact investing team, will move his visiting scholarship from Haas to Kellogg as well. Other prize judges this year include Francesca Cornelli, dean of the Kellogg School, Boston University’s Caroline Flammer, Brian Bruce of Hillcrest Asset Management and Equilibrium Capital’s Dave Chen. The prize recognizes “research that makes a significant contribution not only to the academic knowledge but also, and importantly, to the practice of sustainable finance and responsible investing,” says Flammer, a two-time Moskowitz Prize winner.
  • Impact evidence. Last year’s winners, Lilian Ng (a judge this year), Rui Dai and Hao Liang, found socially responsible customers can infuse socially responsible business behavior in suppliers. In 2018, Abigail Sussman and Samuel Hartzmark presented causal evidence that investors marketwide value sustainability.
  • ImpactAlpha U. Chicago’s Booth School is the latest academic institution to secure a site license providing access to ImpactAlpha for all of its students. More than a dozen other programs and universities including New York University, Tufts, Yale, Harvard, Stanford, Said Business School, the Bertha Centre and, of course, Kellogg, also have signed on. If your school is not yet on board, contact ImpactAlpha’s Zuleyma Bebell at for information on discounted site licenses.

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