Lasse Heje Pedersen

Lasse Heje Pedersen is a Professor of Finance at Copenhagen Business School (CBS) and Director of the Center for Big Data in Finance (BIGFI). He also serves as a Principal at AQR Capital Management and a Research Fellow at the Centre for Economic Policy Research (CEPR). His academic roles include serving on editorial boards of top journals such as the Journal of Finance and Quarterly Journal of Economics. Pedersen holds a PhD from Stanford University, with earlier degrees from the University of Copenhagen.

• Education:
  • B.S. and M.S. in Mathematics-Economics from University of Copenhagen (1995-1997)
  • PhD in Business from Stanford University (2001)

His research focuses on liquidity risk, asset pricing, financial frictions, and systemic risk, with contributions to ESG investing, replication crises in finance, and social networks in markets. Key areas include the impact of liquidity on asset returns, margin-based pricing, and the role of funding liquidity in crises. Pedersen’s work has been recognized with awards such as the Bernácer Prize, Banque de France-TSE Prize, and multiple journal prizes, including the Fama/DFA Prize and Michael Brennan Award.

Notable publications include Efficiently Inefficient (2015), Betting Against Beta (2014), and Value and Momentum Everywhere (2013). His recent work addresses ESG integration, replication challenges in finance, and the dynamics of social media-driven market events like the GameStop incident.

He advises institutions such as NASDAQ, the Federal Reserve Bank of New York, and the ECB. Pedersen’s research emphasizes practical applications, bridging academic theory with investment management and policy.