Supporting academic research that furthers the field of quantitative management is a core tenet of PanAgora. Since 2001, we have sponsored the annual Crowell Prize, providing a forum for new and cutting-edge research that connects theory and practice. We believe this interaction contributes to the continued development of the science of economics and is a vital part of the development of optimal investment strategies. Each year, PanAgora solicits submissions from dissertation-stage graduate students and faculty at accredited academic institutions, as well as from practitioners working in the field.
PanAgora’s founder, the late Dr. Richard A. Crowell, was a pioneer in the field of quantitative investing. The concepts of asset allocation, risk management and portfolio selection models were in their infancy when Dr. Crowell began his career in the early 1960s. He was one of the first investment professionals to create an asset allocation model and one of the first to show how beta could be used to evaluate risk and control portfolios. Dr. Crowell earned a Ph.D. from Massachusetts Institute of Technology in 1967, and in 1973 won the Graham and Dodd award for his paper, “Five Uses of Beta.”