Photo of Theo Nijman
  • Warandelaan 2, Koopmans Building, room K 526

    5037 AB Tilburg


1982 …2019

Research output per year

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Personal profile

Research interests

Theo Nijman is professor of Pension and Risk Management for Instituut GAK and professor of Econometrics and Finance at Tilburg University. He published extensively in the leading international journals on a wide variety of topics within empirical finance and econometrics. His recent work covers topics such as pensionfund management, the optimal individual pension contract, measurement and management of inflation, interest and longevity risk, and performance attribution and measurement.

Theo Nijman is Scientific Director of Netspar, a Network for Studies on Pensions, Aging and Retirement in which seven universities and a number of insurance companies and pensionfunds participate (see

Theo is Academic Coordinator of Inquire Europe, which brings together investment professionals interested in understanding and developing quantitative solutions to investment problems.

As a consultant Theo has been involved in all kinds of projects for many different financial institutions. In 2009 he was a member of the government appointed Goudswaard committee on structural reforms in the Dutch second pillar pension provision to assure sustainability of the system.


Major fields
Pension Economics, Investments, Econometrics



For a full CV click here



2014 Instituut GAK Professor Pension and Risk Management

2001-present F. van Lanschot Professor of Investment Theory, Tilburg University

1993-present Professor of Econometrics and Finance, Tilburg University

1988-1992 Senior Research Fellow Royal Dutch Academy of Arts and Sciences

1986-1987 Associate Professor Tilburg University

1985 Research department of the Dutch Central Bureau of Statistics

1980-1984 Assistant Professor Free University, Amsterdam

1978-1980 Research Assistant Free University, Amsterdam



  • October 2004 - present Scientific Director Netspar (Network for Studies of Pensions, Aging and Retirement (see
  • October 2004 - April 2009 Scientific Director and Chairman of the Board of Netspar (Network for Studies of Pensions, Aging and Retirement (see
  • September 2002 - December 2009 Scientific Director Tilburg Center of Finance
  • March 2002 - August 2004 Vice-dean research Faculty of Economics and Business Administration Tilburg University (see
  • March 2002 - December 2004 Scientific Director CentER for Economic Research(see
  • August 2002 - August 2006 Member of the Board of the European Finance Association
  • April 2001 - April 2002 Dept. Chair Finance Department Tilburg University
  • January 2001 - present Academic Coordinator Inquire Europe
  • March 2000 - January 2001 Scientific Director CentER for Economic Research(see
  • March 2000 - January 2001 Vice-dean research Faculty of Economics and Business Administration Tilburg University (see
  • January 1999 - March 2000 Dept. Chair Econometrics Department Tilburg University
  • January 1996 - March 2000 Research Coordinator Finance Research group CentER


Current courses

Click here for my courses.


  • Econometrics
  • Investment
  • Asset Liability Management

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Research Output

Consumption and portfolio choice under loss aversion and endogenous updating of the reference level

van Bilsen, S., Laeven, R. J. A. & Nijman, T., May 2019, (Accepted/In press) In : Management Science.

Research output: Contribution to journalArticleScientificpeer-review

  • De Bepaling van de Marktwaarde van Bestaande Aanspraken in een Uitkeringsovereenkomst

    Nijman, T., Bovenberg, L., Werker, B., Lever, M., Kocken, T., van Hoogdalem, S., Bouwman, K., Bonenkamp, J., Balter, A. & Boeijen, D., 2019, Tilburg: NETSPAR. 34 p. (Netspar Occasional Paper; vol. 2019, no. 03)

    Research output: Book/ReportReport

    Open Access

    Eerder indexeren is mogelijk maar misschien niet wenselijk

    Nijman, T. & Bovenberg, L., 2019, In : Economisch Statistische Berichten. 104, 4777, p. 434-438

    Research output: Contribution to journalArticleProfessional

    Open Access

    Effective and sustainable private pensions

    van Soest, A. & Nijman, T., 2019, The Future of Ageing in Europe: Making an Asset of Longevity. Walker, A. (ed.). Singapore: Palgrave Macmillan, p. 79 - 106

    Research output: Chapter in Book/Report/Conference proceedingChapterScientific

  • Het pensioenakkoord verzekert welvaartswinst, maar is niet af

    van Ewijk, C. & Nijman, T., 2019, In : Economisch Statistische Berichten. 104, 4777, p. 390-393

    Research output: Contribution to journalArticleProfessional

    Open Access


    • 1 Examination

    Dissertation supervised - Ben Jacobsen

    T.E. Nijman (Examiner)
    12 Dec 1997

    Activity: Examination typesExaminationScientific


    Health effects of retirement

    Nijman, T. & Coe, N. B.


    Project: Research project

    Optimal life-cycle planning of individuals and collective pension schemes

    Peijnenburg, J. M. J., Werker, B. & Nijman, T.


    Project: Research project

    New approaches to derivatives management

    Werker, B., Boes, M. J., Nijman, T. & Drost, F. C.


    Project: Research project

    An empirical analysis of trading intensity and information dissemination

    Nijman, T. & Spierdijk, L.


    Project: Research project