FGV’s Brazilian School of Economics and Finance (EPGE) PhD student, Gustavo Bulhões Carvalho da Paz Freire, won the ANBIMA Capital Market – Master’s and PhD Award. The student won the PhD category with the study titled “Models of factors, machine learning and cross-section of returns”.

The award promotes academic research on the field, supporting studies on key subjects to develop the capital market and financial intermediation in Brazil.

Researchers enrolled in Master’s and PhD programs in the fields of Administration, Law and Economics can sign up for the award. Papers are submitted during the project stage. Winners receive a certificate and cash allowances to fund the research.

ANBIMA works in partnership with IEPE/CdG (Casa das Garças Institute for the Study of Political Economy), which also appoints the review board and picks out papers from each category.