The research team, consisting of professors Johan Knif from Hanken, Seppo Pynnönen from the University of Vaasa and professors Will Armstrong and James Kolari from Texas A&M University in USA, received "Best Paper Award". The prize was announced February 26, 2010 at the Midwest Finance Association Conference in Las Vegas, USA.

The title of the research report is: "On Stock Returns and the Exchange Rate Puzzle"