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Aleksandar Andonov

Research Fellow

University of Amsterdam
Research field
Asset Pricing, Corporate Governance, Finance, Pensions


Aleksandar Andonov is an Associate Professor of Finance at the Amsterdam Business School, University of Amsterdam. Previously, he completed his PhD studies at Maastricht University and worked at Erasmus University Rotterdam. In his research, Aleksandar focuses on empirical studies of institutional investors and asset management industry. His work covers topics including pension fund performance and governance, asset allocation and regulation, delegation and intermediation in asset management. Aleksandar has worked on research questions in public markets as well as private markets, such as private equity, real estate, and infrastructure. At the University of Amsterdam, he teaches master and bachelor courses on asset management and investments.

List of publications

Andonov, A., Kraussl, R. and Rauh, J. (2021). Institutional Investors and Infrastructure Investing Review of Financial Studies, :.

Andonov, A. and Rauh, JoshuaD. (2021). The Return Expectations of Public Pension Funds Review of Financial Studies, :.

Andonov, A., Hochberg, YaelV. and Rauh, JoshuaD. (2018). Political Representation and Governance: Evidence from the Investment Decisions of Public Pension Funds The Journal of Finance, 73(5):2041--2086.

Andonov, A., Bauer, R. and Cremers, M. (2017). Pension Fund Asset Allocation and Liability Discount Rates Review of Financial Studies, 30(8):2555--2595.

Andonov, A., Eichholtz, P. and Kok, N. (2015). Intermediated investment management in private markets: Evidence from pension fund investments in real estate Journal of Financial Markets, 22:73--103.