Associate Professor Nakajima and APU graduate student win SIBR Best Paper Award for co-authored paper


Oct 4, 2022

At the SIBR 2022 CONFERENCE ON INTERDISCIPLINARY BUSINESS & ECONOMICS RESEARCH held on Thursday, June 30 and Friday July 1, 2022, Associate Professor Katsushi Nakajima and RIDWAN Gunawan (Graduate School of International Management 2nd year, Indonesia) won the SIBR Best Paper Award.

This academic conference was organized by SIBR (Society of Interdisciplinary Business Research), an organization that promotes interdisciplinary business research. The award-winning paper, "The Asset Pricing Consequences of Religious Beliefs and Social Norms," was co-authored by Associate Professor Katsushi Nakajima and RIDWAN Gunawan, a student at the Graduate School of International Management.

Reflecting on his award, Professor Nakajima remarked, “I am proud of my student Ridwan who showed his ability for not just himself but also for GSM MBA students. This shows that our GSM MBA students have a chance to be acknowledged by academia and our GSM program provides students to cultivate their expertise. The story and the overall picture of the research is clear. It shows the evidence of the financial performance of Sharia compliance and Social compliance (or in other words Western ethical) funds. There are papers on Sharia funds and there are papers on socially responsible investment, but there are not many papers on both of them compared. It also uses standard methods such as the Fama-French 5 factor model in Finance and other models used in the standard literatures. The data and the analysis are handled in a very rigorous manner. The result is explicitly shown and the story is unfolded in a consistent manner. ”

RIDWAN Gunawan added, “I found that the award boosted my confidence and gave me the opportunity to connect with other researchers around the world and potential supervisors from other universities. These experiences endorsed my plan to pursue a PhD in Finance.”

You may find more information on Associate Professor Nakajima’s research on the faculty database below.

*The picture above was taken at the graduation ceremony.

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