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Dr. T. (Tomislav) Ladika

Associate Professor of Finance
Faculty of Economics and Business
Sectie Finance
Photographer: FEB

Visiting address
  • Plantage Muidergracht 12
  • Room number: M3.03
Postal address
  • Postbus 15953
    1001 NL Amsterdam
  • Profile


    I am an associate professor of finance at the University of Amsterdam, which I joined in 2012 after a PhD in Economics from Brown University. My current research studies the growing reliance on intangible assets and human capital across the economy, in particular how this transition affects corporate investment and employee retention. My previous research examined executive incentives from equity grants, and the interplay between Credit Default Swap markets and debt renegotiation.

    I am currently Program Director of the MSc Finance. I manage a large team of faculty who teach a cohort of about 240 students per year. During my directorship, the program has added new course content on quantitative trading, FinTech, and sustainable finance.

    I am also co-founder of the Junior European Finance seminar. JEF aims to provide junior faculty with feedback from and exposure to a broader audience than they received before the pandemic, as well as to strengthen research networks across European schools. Check out our webpage for upcoming events!

  • Teaching


    I specialize in teaching computer programming applications in finance. My approach emphasizes that programming is an exercise in logical thinking. A good programmer must know how to break down repetitive tasks into a well-structured set of instructions. In order for a computer to execute these instructions, the programmer must further ensure that they are complete and based on Boolean logic. I use this approach in the course "Data Analytics and Quantitative Trading" that I developed for the Master in International Finance. I also have experience teaching a programming bootcamp.

    Current Teaching
    Master in International Finance: Investments and Algorithmic Trading (Block 1, Sept-Oct.)
    Master in International Finance: Data Analytics and Quantitative Trading (Block 2, Nov.-Dec.)
    Master in Finance: Advanced Corporate Finance (Block 1, Sept.-Oct.)
    Executive Education: AI in Finance module (taught on demand)

    Past Teaching at UvA
    Master in Finance: Valuation (2014-2018)
    Master in Finance: Corporate Governance (2013)   
    Bachelor: Corporate Finance (2012, 2013)

    Note to students: Due to my current administrative responsibilities as Program Director of the MSc Finance, I generally do not have capacity to supervise master theses.

  • Research


    For the most up-to-date overview of my research papers, please check my SSRN page or my Google Scholar profile.


    The Retention Effects of Unvested Equity: Evidence from Accelerated Option Vesting (with Torsten Jochem and Zacharias Sautner), 2018, Review of Financial Studies 31, pp. 4142-4186.

    Renegotiation or Bankruptcy? The Effects of Out-of-Court Costs on Distress Resolution (with Murillo Campello and Rafael Matta), 2019, Review of Finance 23, pp. 513-556.

    Managerial Short-Termism and Investment: Evidence from Accelerated Option Vesting (with Zacharias Sautner), 2020, Review of Finance 24, 305-344.

    Limited Attention to Detail in Financial Markets: Evidence from Reduced-Form and Structural Estimation (with Henrik Cronqvist, Elisa Pazaj, and Zacharias Sautner), 2024, Journal of Financial Economics 154, 103811.

    Working Papers

    Creating Intangible Capital (with Robin Doettling and Enrico Perotti). Reject and Resubmit, Management Science. Presented at Mitsui Finance Symposium 2017, FIRS 2017, AFA 2020.

    The Composition of Human Capital Within Firms (draft available upon request)

    A Structural Break in EU Corporate Leverage Trends (with Enrico Perotti and Alessando Zona Mattioli; draft available upon request)

  • Publications



    • Campello, M., Ladika, T., & Matta, R. (2019). Renegotiation Frictions and Financial Distress Resolution: Evidence from CDS Spreads. Review of Finance, 23(3), 513-556. Advance online publication. [details]


    • Jochem, T., Ladika, T., & Sautner, Z. (2018). The Retention Effects of Unvested Equity: Evidence from Accelerated Option Vesting. The Review of Financial Studies, 31(11), 4142–4186. Advance online publication. [details]


    • Boot, A. (examiner), Ribas, R. P. (examiner), Ladika, T. (examiner), Ligterink, J. (examiner) & Badawi, A. (examiner) (18-9-2019). Essays in Financial Economics (examination).
    This list of publications is extracted from the UvA-Current Research Information System. Questions? Ask the library or the Pure staff of your faculty / institute. Log in to Pure to edit your publications. Log in to Personal Page Publication Selection tool to manage the visibility of your publications on this list.
  • Ancillary activities
    • No ancillary activities