Profile Summary

Dirk Hackbarth is currently an Associate Professor of Finance at Boston University School of Management, where he teaches courses in Corporate Finance. He 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.


As an internationally leading scholar in corporate finance, his research focuses on capital structure, corporate investment, mergers and acquisitions, and real options. His papers have been presented at many top-tier conferences, such as the annual meetings of the American, European, and Western Finance Associations, and published in a variety of prestigious journals, including Journal of Finance, Journal of Financial Economics, Journal of Financial and Quantitative Analysis, Journal of Financial Intermediation, Management Science, Review of Finance, Review of Financial Studies, and others. He currently serves as associate editor of e.g. Financial Management, Journal of Corporate Finance, Management Science, and Review of Finance, is a former co-editor of Finance Research Letters, and 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.

  • PublicationsOpen or Close

    Journal Articles:

      Hackbarth, D., Mathews, R., Robinson, D., (2015). Capital Structure, Product Market Dynamics, and the Boundaries of the Firm. Forthcoming, Management Science.

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

      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:

      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., Taub, B., (2014). Does the Dearth of Mergers Mean More Competition?.

      Arnold, M., Hackbarth, D., Puhan, T., (2014). Financing Asset Sales and Business Cycles.

      Choi, J., Hackbarth, D., Zechner, J., (2014). Granularity of Corporate Debt.

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

  • Editorial And Review ActivitiesOpen or Close

    Hackbarth, D., Financial Management, J. of Banking and Finance, J. of Economic Dynamics and Control, J. of Finance, J. of Financial Economics, J. of Financial and Quantitative Analysis, J. of Financial Intermediation, Review of Finance, Review of Financial Studies, Ad Hoc Reviewer, Papers. (January 1, 2013 - December 31, 2013).

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

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

    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

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

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

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

    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).

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

  • Web LinksOpen or Close
  • DirectorshipOpen or Close

    Director (Elected), European Finance Association, 2014–2016.