Profile Summary

Dirk Hackbarth is an Associate Professor of Finance at Boston University School of Management, where he teaches courses in Corporate Finance. He is a current Director, and member of the Executive Committee, of the European Finance Association (since January 1, 2013). Dirk earned both his PhD and MS in Finance at the Haas School of Business, University of California, Berkeley; his MSc in Econometrics & Mathematical Economics at the London School of Economics & Political Science; and a diploma in Business Economics at the University of Cologne. He is an expert in various areas of corporate financial management and especially valuation of contingent claims and risky cash flows. His research interests include bankruptcy, capital structure, governance, law and finance, mergers and acquisitions, product markets, and real options.


As an internationally leading scholar in corporate finance, he has been invited to present his research at many top-tier conferences, such as the meetings of the American, European, and Western Finance Associations, and at many premier universities around the world. His work has been published in a variety of prestigious journals, including Journal of Finance, Journal of Financial Economics, and Review of Financial Studies. Dirk currently serves as Advisory Editor of Schmalenbach Business Review and Associate Editor of e.g. Financial Management, Journal of Banking and Finance, Journal of Corporate Finance, Management Science, and Review of Finance. Previously he was a Co-Editor of Finance Research Letters and more recently a Guest Co-Editor of a Special Issue on “Corporate Theory” for the Journal of Corporate Finance.


Previous appointments include the May Faculty Fellow and Associate Professor of Finance (tenured in 2008), College of Business, University of Illinois at Urbana-Champaign; visiting positions at the Bonn Graduate School of Economics (BGSE), the London Business School (LBS), the Norwegian School of Economics and Business Administration (NHH); and the Gutmann Center Research Fellow at the Vienna University of Economics and Business (WU).

  • Education Open or Close

    Ph D, Walter A. Haas School of Business, University of California, Berkeley, Finance, 2003.

    MS, Walter A. Haas School of Business, University of California, Berkeley, Finance, 2000.

    MS, London School of Economics, Econometrics and Mathematical Economics, 1998.

    Diplom, University of Cologne, Business Economics (Finance and Statistics), 1997.

  • Current CoursesOpen or Close

    GSM FE810 F1 Finance 2

    GSM MF930 A1 Advanced Corporate Finance

  • PublicationsOpen or Close

    Journal Articles:

      Hackbarth, D., Haselmann, R., Schoenherr, D., (2015). Financial Distress, Stock Returns, and the 1978 Bankruptcy Reform Act. Forthcoming, Review of Financial Studies.

      Hackbarth, D., Mathews, R., Robinson, D., (2014). Capital Structure, Product Market Dynamics, and the Boundaries of the Firm. Management Science, 60(12), 2971-2993.

      Goldstein, I., Hackbarth, D., (2014). Corporate Finance Theory: Introduction to Special Issue. Journal of Corporate Finance, 29(1), 535-541.

      Gu, L., Hackbarth, D., (2013). Governance and Equity Prices: Does Transparency Matter?. Review of Finance, 17(6), 1989–2033.

      Hackbarth, D., Mauer, D., (2012). Optimal Priority Structure, Capital Structure, and Investment. Review of Financial Studies, 25(3), 747–796.

      Campello, M., Hackbarth, D., (2012). The Firm-Level Credit Multiplier. Journal of Financial Intermediation, 21(3), 446–472.

      Hackbarth, D., Miao, J., (2012). The Dynamics of Mergers and Acquisitions in Oligopolistic Industries. Journal of Economic Dynamics and Control, 36(4), 585–609.

      Almeida, H., Campello, M., Hackbarth, D., (2011). Liquidity Mergers. Journal of Financial Economics, 34(10), 526–558.

      Güntay, L., Hackbarth, D., (2010). Corporate Bond Credit Spreads and Forecast Dispersion. Journal of Banking and Finance, 34(10), 2328–2345.

      Hackbarth, D., (2009). Determinants of Corporate Borrowing: A Behavioral Perspective. Journal of Corporate Finance, 15(4), 389–411.

      Hackbarth, D., Morellec, E., (2008). Stock Returns in Mergers and Acquisitions. Journal of Finance, 63(3), 1213–1252.

      Hackbarth, D., (2008). Managerial Traits and Capital Structure Decisions. Journal of Financial and Quantitative Analysis, 43(4), 843–881.

      Hackbarth, D., Hennessy, C., Leland, H., (2007). Can the Tradeoff Theory Explain Debt Structure?. Review of Financial Studies, 20(5), 1389–1428.

      Hackbarth, D., Miao, J., Morellec, E., (2006). Capital Structure, Credit Risk, and Macroeconomic Conditions. Journal of Financial Economics, 82(3), 519–550.

    Book Chapters:

      Gider, J., Hackbarth, D., (2010). Financing Decisions, Chapter 21, Behavioral Finance: Investors, Corporations, and Markets, H. K. Baker and J. R. Nofsinger, Eds., : John Wiley & Sons, Inc., Hoboken, NJ, USA.


    Working Papers:

      Choi, J., Hackbarth, D., Zechner, J., (2015). Corporate Debt Maturity Profiles.

      Arnold, M., Hackbarth, D., Puhan, T., (2015). Financing Asset Sales and Business Cycles.

      Fulghieri, P., Garcia, D., Hackbarth, D., (2014). Asymmetric Information and the Pecking (Dis)Order.

      Hackbarth, D., Sun, D., (2014). Corporate Investment and Financing Dynamics.

      Hackbarth, D., Johnson, T., (2014). Real Options and Risk Dynamics. Revise and Resubmit, Review of Economic Studies.

      Hackbarth, D., Taub, B., (2013). Does the Dearth of Mergers Mean More Competition?.

  • Editorial And Review ActivitiesOpen or Close

    Hackbarth, D., Financial Management, Associate Editor. (March 1, 2014 - Present).

    Hackbarth, D., Journal of Corporate Finance, Corporate Finance Theory, Special Issue Editor. (July 1, 2012 - December 10, 2014).

    Hackbarth, D., Finance Research Letters, Editor. (July 1, 2009 - December 31, 2013).

    Hackbarth, D., Management Science, Associate Editor. (January 1, 2013 - Present).

    Hackbarth, D., Review of Finance, Associate Editor. (September 16, 2013 - Present).

    Hackbarth, D., Quarterly Journal of Finance, Associate Editor. (September 10, 2009 - Present).

    Hackbarth, D., Financial Markets and Portfolio Management, Associate Editor. (April 8, 2009 - Present).

  • Awards and HonorsOpen or Close

    Distinguished Service Award for the Contributions as an Associate Editor, Management Science, Service, Professional. (July 1, 2014).

    Meritorious Service Award for the Contributions as an Associate Editor, Management Science, Service, Professional. (October 1, 2013).

    Best Paper Award, Rothschild Caesarea Center Annual Conference, IDC Herzliya, Research. (May 20, 2013).

    List of Teachers Ranked Excellent by Students, University of Illinois, Teaching. (March 1, 2013).

    Robert and Karen May Faculty Fellow, College of Business, University of Illinois, Research. (July 1, 2012).

    List of Teachers Ranked Excellent by Students, University of Illinois, Teaching. (March 1, 2011).

    WU Gutmann Center Fellow, Vienna University of Economics and Business, Research. (June 1, 2011).

    List of Teachers Ranked Excellent by Students, University of Illinois, Teaching. (August 25, 2010).

    List of Teachers Ranked Excellent by Students, University of Illinois, Teaching. (March 1, 2009).

    Dean’s List of Excellence in Teaching, Indiana University, Teaching. (May 15, 2005).

  • Web LinksOpen or Close
  • DirectorshipOpen or Close

    Director (Elected) and Executive Board Member, European Finance Association, 2014–2016.