Andrea L. Eisfeldt, PhD

Andrea L. Eisfeldt is the Laurence D. and Lori W. Fink Endowed Chair in Finance at the UCLA Anderson School of Management.  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.  Current work explores new measures and impacts of intangibles, the role of equity pay beyond the C-suite, the consequences of artificial intelligence for labor and firm values, as well as the pricing of fixed-income assets including bank deposits and corporate bonds. Her papers have appeared as lead articles in top journals and have been recognized with the Smith Breeden Prize in the Journal of Finance (twice), the Jensen Prize in the Journal of Financial Economics, and the Edwin C. Mills Best Paper Prize in Real Estate Economics. 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. Eisfeldt is an Associate Editor at the Journal of Political Economy, Journal of Finance: Insights and Perspectives, and Journal of Economic Perspectives, and serves on the Editorial Committee of the 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.   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 currently serves on the Board of the UCLA Investment Company and as Vice President of the American Finance Association and Vice President–Elect of the Western Finance Association, and is co-head of the National Bureau of Economic Research Asset Pricing Program.

Prior to her appointment at UCLA, Eisfeldt was a tenured Associate Professor at the Kellogg School of Management at Northwestern University.  Eisfeldt earned a BS with highest honors from the College of Commerce at the University of Illinois Urbana-Champaign, and received her MA and PhD in economics from the University of Chicago.   

In addition to more than 25 years of research and teaching in finance, Professor Eisfeldt has extensive experience in asset management, including as Chief Economist at Structured Portfolio Management and consultant to AQR Capital Management.   She is a frequent speaker at conferences, universities, central banks, and asset-management institutions about her research in fixed income and equity markets.  Her research on valuing intangible assets is used in institutional investment portfolios and the Simplify NXTI ETF.