Thu Nguyen

Photographer: Bastiaan Heus

I am a PhD candidate at the University of Amsterdam and Tinbergen Institute, under the supervision of Aleksandar Andonov and Esther Eiling. 

My research focuses on asset pricing. I am an empiricist interested in the linkages between financial markets and the real economy.

I am on the 2024/2025 academic job market.

My job market paper, titled "Market Concentration, Capital Misallocation, and Asset Pricing", shows that superstar firms have implications for asset pricing. Specifically, capital misallocation between superstar and non-superstar firms is a key state variable in the ICAPM framework. Its shocks carry a negative price of risk in the cross-section of stock returns. Thus, shocks to capital misallocation between superstar and non-superstar firms capture a macroeconomic risk factor.

CV: Link

Bio: I obtained an MPhil in Economics at Tinbergen Institute, specializing in Finance and Econometrics, and a BSc in Econometrics and Operations Research at Maastricht University (Honors and Cum Laude).

Research Interests: Empirical asset pricing, institutional investors, asset management, and demand-based asset pricing.

Placement Director: Eric Bartelsman (Tinbergen Institute), E: e.j.bartelsman@tinbergen.nl 

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