The American Finance Association (AFA) is an academic organization whose focus is the study and promotion of knowledge of financial economics. It was formed in 1939. Its main publication, the ''

Journal of Finance ''The Journal of Finance'' is a peer-reviewed academic journal published by Wiley-Blackwell on behalf of the American Finance Association. It was established in 1946 and is considered to be one of the premier finance journals. The editor-in-chief ...

'', was first published in 1946. __TOC__

Mission

The purpose of the association is to: *Act as a mutual association of persons with an interest in finance *Improve the public understanding of financial problems *Provide for the exchange of financial ideas through the distribution of the ''Journal of Finance'' and other media *Encourage the study of finance in

college A college (Latin: ''collegium'') is an educational institution or a constituent part of one. A college may be a degree-awarding tertiary educational institution, a part of a collegiate or federal university, an institution offering ...

s and

universities A university () is an institution of higher (or tertiary) education and research which awards academic degrees in several academic disciplines. Universities typically offer both undergraduate and postgraduate programs. In the United States, t ...

*Conduct other activities appropriate for a non-profit, professional society in the field of finance

Membership

As of 2022, the association has over 12,000 members. A variety of membership options exist and membership is open to anyone. A number of members are also distinguished in the Society of Fellows of the Association. These are members who have made significant contributions to the field of finance.

Administration

The administration of the association is overseen by both officers and a board of directors. All of these positions are held by faculty at various universities. The board of directors rotates over time and assists in key decisions and policies.

''Journal of Finance''

The Journal of Finance ''The Journal of Finance'' is a peer-reviewed academic journal published by Wiley-Blackwell on behalf of the American Finance Association. It was established in 1946 and is considered to be one of the premier finance journals. The editor-in-chief i ...

'' is an

academic journal An academic journal or scholarly journal is a periodical publication in which scholarship relating to a particular academic discipline is published. Academic journals serve as permanent and transparent forums for the presentation, scrutiny, and d ...

that covers the whole field of finance. It began publication in 1946. According to ''

Journal Citation Reports ''Journal Citation Reports'' (''JCR'') is an annual publicationby Clarivate Analytics (previously the intellectual property of Thomson Reuters). It has been integrated with the Web of Science and is accessed from the Web of Science-Core Collect ...

'', it has a 2015

impact factor The impact factor (IF) or journal impact factor (JIF) of an academic journal is a scientometric index calculated by Clarivate that reflects the yearly mean number of citations of articles published in the last two years in a given journal, as i ...

of 5.290. The current editorial team is Stefan Nagel (editor), Philip Bond, Amit Seru, and Wei Xiong. The ''Journal of Finance'', ''

The Review of Financial Studies ''The Review of Financial Studies'' is a peer-reviewed academic journal covering the field of finance. It is published by Oxford University Press on behalf of the Society for Financial Studies. It was established following discussions at the 1986 ...

'', and the ''

Journal of Financial Economics The ''Journal of Financial Economics'' is a peer-reviewed academic journal published by Elsevier, covering the field of finance. It is considered to be one of the premier finance journals. According to the ''Journal Citation Reports'', the journa ...

'' are considered to be the top-three finance journals.

Annual meeting

An annual meeting of the association is held every year in January, in conjunction with the American Economic Association and the North American Winter Meetings of the

Econometric Society The Econometric Society is an international society of academic economists interested in applying statistical tools to their field. It is an independent organization with no connections to societies of professional mathematicians or statisticians. ...

as a part of the

Allied Social Science Associations The Allied Social Science Associations (ASSA) is a group of academic and professional organizations that are officially recognized by the American Economic Association (AEA) and are related to the study of social sciences. As of 2007, there are f ...

. The president speaks on a selected topic and there are presentations of various financial papers. The AFA,

Western Finance Association The Western Finance Association (WFA) is an international professional society for academicians and practitioners with a scholarly interest in the development and application of research in finance. Its purpose is: *to serve as a focal point for c ...

Meetings, and

Society for Financial Studies The Society for Financial Studies (SFS) is a nonprofit, academic society in the field of finance. It owns and runs three academic journals: (1) the Review of Financial Studies, (2) the Review of Asset Pricing Studies, and (3) the Review of Corpora ...

Cavalcade are considered to be the three top general finance conferences in the world. Recent Annual Meeting AFA sites: *2015 Boston, Massachusetts *2016 San Francisco, California *2017 Chicago, Illinois *2018 Philadelphia, Pennsylvania *2019 Atlanta, Georgia *2020 San Diego, California *2021 Virtual Annual Meeting *2022 Virtual Annual Meeting

Past and current presidents of the AFA

*1940 Kenneth Field *1941 Chelcie C. Bosland *1942 Charles L. Prather *1943 John D. Clark *1944 No President *1945 No President *1946 Harry G. Guthman *1947 Lewis A. Froman *1948 Benjamin H. Beckhart *1949

Neil H. Jacoby Neil Herman Jacoby (September 19, 1909 – May 31, 1979) was a university professor and public servant and was widely recognized as an expert on matters of taxation, finance, economic policy, and business-government relationships. Early life He wa ...

*1950 Howard R. Bowen *1951 Raymond J. Saulnier *1952 Edward E. Edwards *1953 Roland I. Robinson *1954 Garfield V. Cox *1955 Norris O. Johnson *1956

Miller Upton A miller is a person who operates a mill, a machine to grind a grain (for example corn or wheat) to make flour. Milling is among the oldest of human occupations. "Miller", "Milne" and other variants are common surnames, as are their equivalent ...

*1957 Marshall D. Ketchum *1958 Lester V. Chandler *1959 James J. O'Leary *1960 Paul M. Van Arsdell *1961 Arthur M. Weimer *1962 Bion B. Howard *1963 George T. Conklin Jr. *1964 Roger F. Murray *1965 George Garvy *1966 J. Fred Weston *1967 Robert V. Roosa *1968 Harry C. Sauvain *1969 Walter E. Hoadley *1970

Lawrence S. Ritter Lawrence Stanley Ritter (May 23, 1922 – February 15, 2004) was an American writer whose specialties were economics and baseball. Ritter was a professor of economics and finance, and chairman of the Department of Finance at the Graduate School ...

*1971 Joseph A. Pechman *1972

Irwin Friend Irwin may refer to: Places ;United States * Irwin, California * Irwin, Idaho * Irwin, Illinois * Irwin, Iowa * Irwin, Nebraska * Irwin, Ohio * Irwin, Pennsylvania * Irwin, South Carolina * Irwin County, Georgia * Irwin Township, Venango County, Pe ...

*1973 Sherman J. Maisel *1974

John Lintner John Virgil Lintner, Jr. (February 9, 1916 – June 8, 1983) was a professor at the Harvard Business School in the 1960s and one of the co-creators (1965 a, b) of the capital asset pricing model. For a time, much confusion was created because t ...

*1975 Myron J. Gordon *1976 Merton H. Miller *1977 Alexander A. Robichek *1978 Burton G. Malkiel *1979 Edward J. Kane *1980

William F. Sharpe William Forsyth Sharpe (born June 16, 1934) is an American economist. He is the STANCO 25 Professor of Finance, Emeritus at Stanford University's Graduate School of Business, and the winner of the 1990 Nobel Memorial Prize in Economic Sciences. ...

*1981

Franco Modigliani Franco Modigliani (18 June 1918 – 25 September 2003) was an Italian-American economist and the recipient of the 1985 Nobel Memorial Prize in Economics. He was a professor at University of Illinois at Urbana–Champaign, Carnegie Mellon Un ...

*1982

Harry M. Markowitz Harry Max Markowitz (born August 24, 1927) is an American economist who received the 1989 John von Neumann Theory Prize and the 1990 Nobel Memorial Prize in Economic Sciences. Markowitz is a professor of finance at the Rady School of Management ...

*1983 Stewart C. Myers *1984 James C. Van Horne *1985

Fischer Black Fischer Sheffey Black (January 11, 1938 – August 30, 1995) was an American economist, best known as one of the authors of the Black–Scholes equation. Background Fischer Sheffey Black was born on January 11, 1938. He graduated from Harvard ...

*1986

Robert C. Merton Robert Cox Merton (born July 31, 1944) is an American economist, Nobel Memorial Prize in Economic Sciences laureate, and professor at the MIT Sloan School of Management, known for his pioneering contributions to continuous-time finance, especia ...

*1987

Richard Roll Richard Roll (born October 31, 1939) is an American economist and professor of finance at UCLA, best known for his work on portfolio theory and asset pricing, both theoretical and empirical. He earned his bachelor's degree in aerospace enginee ...

*1988

Stephen A. Ross Stephen Alan "Steve" Ross (February 3, 1944 – March 3, 2017) was the inaugural Franco Modigliani Professor of Financial Economics at the MIT Sloan School of Management after a long career as the Sterling Professor of Economics and Finance a ...

*1989 Michael J. Brennan *1990 Myron S. Scholes *1991 Robert H. Litzenberger *1992 Michael C. Jensen *1993

Mark Rubinstein Mark Edward Rubinstein (June 8, 1944 – May 9, 2019) was a leading financial economist and financial engineer. He was ''Paul Stephens Professor of Applied Investment Analysis'' at the Haas School of Business of the University of California, Be ...

*1994

Sanford J. Grossman Sanford "Sandy" Jay Grossman (born July 21, 1953) is an American economist and hedge fund manager specializing in quantitative finance. Grossman’s research has spanned the analysis of information in securities markets, corporate structure, prop ...

*1995 Martin J. Gruber *1996 Eduardo S. Schwartz *1997 Hayne E. Leland *1998 Edwin J. Elton *1999 Hans R. Stoll *2000

Franklin Allen Franklin Allen, (born 6 March 1956) is a British economist and academic. Since 2014, he has been professor of finance and economics, and executive director of the Brevan Howard Centre at Imperial College London. He was the Nippon Life Prof ...

*2001 George M. Constantinides *2002 Maureen O'Hara *2003

Douglas W. Diamond Douglas Warren Diamond (born October 25, 1953) is an American economist. He is currently the Merton H. Miller Distinguished Service Professor of Finance at the University of Chicago Booth School of Business, where he has taught since 1979. Diamond ...

*2004 René M. Stulz *2005

John Y. Campbell John Young Campbell (born May 17, 1958) is a British-American economist. He is the Morton L. and Carole S. Olshan Professor of Economics at the Department of Economics at Harvard University since 1994. Biography Early years Campbell was born in ...

*2006

Richard C. Green Richard Carleton Green (April 26, 1953 – October 9, 2015) was an economist, specializing in financial economics. He was the Richard M. and Margaret S. Cyert Chair and Professor of Financial Economics at the Tepper School of Business at Carnegie ...

*2007 Kenneth R. French *2008 Jeremy C. Stein *2009

J. Darrell Duffie James Darrell Duffie (born May 23, 1954) is a Canadian financial economist and is Dean Witter Distinguished Professor of Finance at Stanford Graduate School of Business. He is the author of numerous research articles, and several books, includ ...

*2010 John H. Cochrane *2011 Raghuram G. Rajan *2012

Sheridan Titman Sheridan Dean Titman is a professor of finance at the University of Texas at Austin, where he holds the McAllister Centennial Chair in Financial Services at the McCombs School of Business. He received a B.S. degree (1975) from the University of C ...

*2013 Robert Stambaugh *2014 Luigi G. Zingales *2015 Patrick Bolton *2016 Campbell Harvey *2017 David Scharfstein *2018 Peter DeMarzo *2019

David Hirshleifer David Hirshleifer is an American economist. He is a professor of finance and currently holds the Merage chair in Business Growth at the University of California at Irvine. As of 2018 he became President-Elect of the American Finance Association ...

*2020 Kenneth Singleton *2021 John Graham *2022 Laura Starks

Fellows of the American Finance Association

In January 2000, the Board of Directors of the American Finance Association instituted a Society of Fellows of the Association. The purpose of the society is to recognize those members who have made a distinguished contribution to the field of finance. Since Fellows are selected by the membership for their contributions to the field of finance, and since this is the principal criterion for election as president, all living past presidents and all future presidents of the association are designated as Fellows. The list of AFA Fellows contains all past presidents and the Fellows selected since that date. Each year, the Nominating Committee, chaired by the current president, solicits names from the membership and nominates a slate of no more than five candidates from which current Fellows elect a maximum of two new Fellows. Polling of the current Fellows is carried out by the immediate past-president prior to the next annual meeting.

Prizes and awards

Fischer Black Prize

Biennially, the association awards the

Fischer Black Prize Fischer Black Prize is a memorial prize awarded in honor of Fischer Black that rewards individual financial research. The prize was established in 2002 and first awarded in 2003. It is awarded to a financial scientist for a body of work that demonst ...

at its annual meeting. The award, named in honor of economist

, recognizes an outstanding young academic whose original research has made a significant contribution to the field of finance.

Brattle Prizes

Annually, the

Brattle Prize ''The Journal of Finance'' is a peer-reviewed academic journal published by Wiley-Blackwell on behalf of the American Finance Association. It was established in 1946 and is considered to be one of the premier finance journals. The editor-in-chief i ...

s are awarded annually for outstanding papers on

corporate finance Corporate finance is the area of finance that deals with the sources of funding, the capital structure of corporations, the actions that managers take to increase the Value investing, value of the firm to the shareholders, and the tools and anal ...

at its annual meeting.

Dimensional Fund Advisors Prizes

Annually, the association awards the Dimensional Fund Advisors Prizes (prizes prior to 2019 were sponsored by Amundi Pioneer, Amundi Smith Breeden, and Smith Breeden) for the top three papers in the ''Journal of Finance'' in any area other than corporate finance at its annual meeting.

Morgan Stanley-AFA Award for Excellence in Finance

The Morgan Stanley-American Finance Association Award for Excellence in Finance was a bi-annual finance award granted based on an individual's career achievements in outstanding thought leadership in the field of

financial economics Financial economics, also known as finance, is the branch of economics characterized by a "concentration on monetary activities", in which "money of one type or another is likely to appear on ''both sides'' of a trade".William F. Sharpe"Financial ...

. The Award began in 2008 and continued for 5 bi-annual periods.

Notes

External links

American Finance Association
*
Morgan Stanley AFA Award
{{Authority control Professional associations based in the United States Business and finance professional associations Economics societies Learned societies of the United States Organizations established in 1939 1939 establishments in the United States