Andrea Eisfeldt

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Andrea Eisfeldt
Academic background
Alma mater University of Chicago (Ph.D., M.A.), University of Illinois at Urbana-Champaign (B.S.)
Doctoral advisor John Cochrane, Lars Hansen (co-chairs), Douglas Diamond

Eisfeldt earned a B.S. with Highest Honors from the University of Illinois at Urbana-Champaign in 1994, and received her M.A. and Ph.D. in economics from the University of Chicago in 2000. She then spent a decade at the Kellogg School of Management at Northwestern University, receiving tenure in 2007. In 2011, she joined the Anderson School of Management at University of California, Los Angeles. She is currently the Laurence D. and Lori W. Fink Endowed Chair in Finance at UCLA Anderson [2] .

Career

Her papers have appeared as lead articles in top journals and have been recognized with the Amundi Smith Breeden Prize in the Journal of Finance (twice), [3] the Jensen Prize in the Journal of Financial Economics, [4] and the Edwin C. Mills Best Paper Prize in Real Estate Economics. [5] She has received research grants from the National Science Foundation, the U.S. Treasury Office of Financial Research, and the Banque de France, and delivered the keynote address at the Society for Financial Studies Cavalcade. She previously served as a Board Member of the American Finance Association on its strategic planning, ethics, and investment committees, on the Board of the Western Finance Association, and as a founding member and later President of the Macro Finance Society. She is the VP-elect of the American Finance Association and the VP-elect of the Western Finance Association. [6]

In addition to her 25-year career in research and teaching in finance at UCLA's Anderson School of Management and at Northwestern’s Kellogg School of Management, Eisfeldt has extensive experience in asset management. Based on her academic research and asset management practice, she developed the NEXT Intangible Index, which is licensed to Simplify ETFs. Previously, she served as Chief Economist at hedge fund Structured Portfolio Management and consultant to AQR Capital Management. She currently serves on the Board of the UCLA Investment Company. She is also an academic advisor to Vise (a FinTech investment management firm), an Economic Consultant affiliated with Cornerstone Research, and a Visiting Scholar at the San Francisco Fed. [7]

Academic work

Eisfeldt’s research has advanced understanding of intangible assets in firm valuation and the macroeconomy, the drivers and measurement of liquidity, and capital reallocation as a determinant of business cycles and growth. [8] Her current work explores new measures and impacts of intangibles, [9] [10] [11] [12] [13] the role of equity pay beyond the C-suite, [14] [15] [16] the consequences of artificial intelligence for labor and firm values, [17] [18] [19] [20] [21] [22] as well as the pricing of fixed-income assets including bank deposits and corporate bonds.

Eisfeldt is an Associate Editor at the Journal of Political Economy , Journal of Finance: Insights and Perspectives, Journal of Economic Perspectives , and Annual Review of Financial Economics . She is a research associate at the National Bureau of Economic Research in the Corporate Finance, Asset Pricing, Economic Fluctuations and Growth, and Conference on Research in Income and Wealth programs, and is a Visiting Scholar at the Federal Reserve Bank of San Francisco.

Selected publications

NXTI Next Intangible Core Index

Eisfeldt developed the Next Intangible Core Index, which is licensed buy, an ETF which offers modernized equity investing by incorporating the most powerful asset that companies have: Intangible Capital.

Media coverage

Relevant published work on measuring intangibles

Fellowships, awards and honors

References

  1. ↑ "Eisfeldt". UCLA Anderson School of Management.
  2. ↑ "Eisfeldt". UCLA Anderson School of Management.
  3. ↑ "Prizes". The American Finance Association.
  4. ↑ "Jensen Prize". Journal of Financial Economics.
  5. ↑ "Edwin Mills Best Paper Award". www.areuea.org.
  6. ↑ "About". Western Finance Association.
  7. ↑ "Economists - San Francisco Fed".
  8. ↑ Eisfeldt, Andrea L.; Rampini, Adriano A. (2006). "Capital reallocation and liquidity" . Journal of Monetary Economics. 53 (3): 369–399. doi:10.1016/j.jmoneco.2005.04.006. ISSN   0304-3932.
  9. ↑ "Bloomberg ETF IQ 09/30/2024". Bloomberg. 2024-09-30. Retrieved 2025-11-15.
  10. ↑ "Unwinding the Fed's Balance Sheet: 5 Strategies to Profit". Youtube. Retrieved 2025-11-15.
  11. ↑ "What Value Investing Strategies Are Missing". Barron's. Retrieved 2025-11-15.
  12. ↑ "Adapting Value Investing to the 21st Century". UCLA Anderson Review. Retrieved 2025-11-15.
  13. ↑ "Intangible value". Vox EU. Retrieved 2025-11-15.
  14. ↑ Eisfeldt, Andrea L.; Falato, Antonio; Xiaolan, Mindy Z. (2023). "Human Capitalists". NBER Macroeconomics Annual. 37: 1–61. doi:10.1086/723534.
  15. ↑ "The Rise of High-Skilled Workers as 'Human Capitalists'". NBER.
  16. ↑ Sussman, Anna Louie (19 January 2022). "Employee or Capitalist? Equity Compensation Merges the Two". UCLA Anderson Review.
  17. ↑ "AI Is Reshaping Jobs. Here Are the Companies to Watch". barrons.
  18. ↑ "The ChatGPT market shock". www.ft.com.
  19. ↑ Cowen, Tyler (9 May 2023). "Generative AI and firm values". Marginal REVOLUTION.
  20. ↑ "Generative AI and firm valuation". CEPR. 4 June 2023.
  21. ↑ Moreno, Johan. "Generative AI Exposure Widens Return Gap Between Tech And Traditional Firms". Forbes.
  22. ↑ Morris, Betsy (30 July 2023). "As Generative AI Reshapes the Workforce, These Companies May Be Most Affected". The Wall Street Journal.
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