The Skandia Best Master Theses Award, sponsored by the Thule Foundation, is a nation-wide prize recognizing work on “Long-Term Savings” that is of relevance for banking, insurance, and financial services. 

The 2019 award goes to Lina Obolevica and Sophie Schayah for their thesis entitled Illegal insider trading: Price discovery through the prism of private information, which documents illegal insider trading effects on price discovery in the Swedish stock market. The motivation for this investigation is that insider trading on the one hand can provide information to the market, but on the other hand is detrimental to traders who are unaware of that information. Obolevica and Schayah find that the illegal insider trades are indeed profitable to the insiders, but rather than driving price discovery these trades react to price changes. The award amounts to SEK 40,000. The thesis is available here.

One of the three runner-up theses is also from the SBS Master in Banking and Finance program. Oskar Jonjons and Hanna Söderberg is awarded SEK 20,000 for their thesis Carbon intensity and portfolio returns.