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Niels Joachim Gorm­sen

Professor

Emner
Finansiering Økonomi Investering Værdipapirer

Financial economist studying financial markets and firms

I am a DNRF Chair Professor of Finance at Copenhagen Business School, a Neubauer Family Associate Professor of Finance at The University of Chicago Booth School of Business, and a faculty research fellow at the NBER Asset Pricing program.  

My research interests are financial economics and macroeconomics. My work studies how firms make investment decisions and how these decisions respond to changes in interest rates and asset prices, how economic shocks influence asset prices, and how agents form perceptions of asset markets. My work has received prizes such as the Fama-DFA Prize, the Leo Melamed Prize for Outstanding Research in Finance at Chicago Booth, and the AQR Top Finance Graduate Award.  

Recent research projects

Cost of Capital Project

Firms’ perceptions, and use of, the cost of capital often diverge from what economic models assume. These differences affect how firms invest, how they respond to monetary policy, and the effects of financial markets on the economy.
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Outside activities

Consultant, World Bank, 2024–present