Niels Gormsen

Biography

Niels Joachim Gormsen is the DNRF Chair Professor of Finance at Copenhagen Business School and a Visiting Professor at the University of Chicago Booth School of Business. He serves on the editorial board of the Review of Economic Studies, as an associate editor at the Journal of Finance, and as an affiliate at the National Bureau of Economic Research, the Centre for Economic Policy Research, and the Danish Finance Institute.

Gormsen's work focuses on the cost of capital and its role in shaping corporate investment and economic dynamics. His research examines the financial market determinants of the cost of capital, as well as how firms perceive and apply it in practice—often in ways that diverge from what economic models assume. He also studies the behavior of capital markets more generally, including investment strategies, monetary policy, and financial aspects of societal challenges, such as the green transition.

His work has been published in leading journals such as the American Economic Review, the Journal of Finance, the Journal of Financial Economics, and the Review of Economic Studies; featured in media outlets such as the Wall Street Journal, the Financial Times, and Forbes; and recognized with prizes including the Fama-DFA Prize, the Moskowitz Prize, the Leo Melamed Prize for Outstanding Research in Finance at Chicago Booth, and the AQR Top Finance Graduate Award.

Outside of academia, Gormsen enjoys sailing. In 2011, he won the Youth World Championship in the Olympic 49er dinghy.

Academic Areas

• Finance