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McInish, Jain & Jain Recognized by Eastern Finance Association

For release:  April 25, 2011

Winner PhotoProf. Thomas McInish, Prof. P.K. Jain and doctoral student Pawan Jain received the Eastern Finance Association’s (EFA) 2011 first place Outstanding Paper Award in Investments for their research project titled "Order Book Characteristics and Future Price Volatility: Empirical Evidence from a Limit Order Market," at their annual meeting and research in Savannah, Georgia. The paper uncovers the predictive power of the limit order book slope in forecasting future stock price changes, volatility, and speed of trading. This year’s EFA conference attracted 430 research paper submissions for presentations by internationally renowned academics and industry representatives. Apart from the conference (details available here) the EFA also hosts the Financial Review, a leading academic journal in the field of finance.  

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