• PHONE: 617-358-4206
  • EMAIL:  dhackbar@bu.edu
  • WEBSITE: http://people.bu.edu/dhackbar/
  • OFFICE HOURS: By Appointment
  • ADDRESS: BOSTON UNIVERSITY
    Questrom School of Business
    Rafik B. Hariri Building
    595 Commonwealth Avenue
    Boston, MA 02215

PROFILE SUMMARY

Dirk Hackbarth is currently a Professor of Finance and an Everett W. Lord Distinguished Faculty Scholar at the Boston University Questrom School of Business, where he teaches graduate courses in Corporate Finance. He is a current Director, and member of the Executive Committee, of the European Finance Association.

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, corporate governance, law and finance, mergers and acquisitions, product markets, real options, and valuation.

As an internationally leading scholar in corporate finance, he has given more than 150 invited talks on his research at many top-tier conferences, such as the annual meetings of the American, European, and Western Finance Associations, and at many premier research universities in Asia, Australia, Europe, and North America. His work has been published in a variety of academic journals, including Journal of Finance, Journal of Financial Economics, Journal of Financial and Quantitative Analysis, Management Science, Review of Economic Studies, Review of Finance, 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.

  • PUBLICATIONSOpen or Close

    JOURNAL ARTICLES:

      Choi, J., Hackbarth, D., & Zechner, J. (In Press). Corporate Debt Maturity Profiles. Journal of Financial Economics.
      See Publication Online

      Arnold, M., Hackbarth, D., & Puhan, T. (In Press). Financing Asset Sales and Business Cycles. Review of Finance.
      See Publication Online

      Hackbarth, D., Gu, L., & Johnson, T. (In Press). Inflexibility and Stock Returns. Review of Financial Studies.
      See Publication Online

      Hackbarth, D., & Johnson, T. (2015). Real Options and Risk Dynamics. Review of Economic Studies, 82 (4), 1449-1482.
      See Publication Online

      Hackbarth, D., Haselmann, R., & Schoenherr, D. (2015). Financial Distress, Stock Returns, and the 1978 Bankruptcy Reform Act. Review of Financial Studies, 28 (6), 1810-1847.
      See Publication Online

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

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

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

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

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

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

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

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

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

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

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

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

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

      Hackbarth, D., & Leland, H. Recent Developments in Dynamic Capital Structure. Annual Review of Financial Economics.

    BOOK CHAPTERS:

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

    WORKING PAPERS:

      Hackbarth, D., & Taub, B. 'Does the Dearth of Anticompetitive Mergers Mean More Competition in Imperfectly Competitive Industries?. United States
      See Publication Online

      Fulghieri, P., Garcia, D., & Hackbarth, D. Asymmetric Information and the Pecking (Dis)Order. United States
      See Publication Online

      Hackbarth, D., & Sun, D. Corporate Investment and Financing Dynamics. United States
      See Publication Online

  • AWARDS AND HONORSOpen or Close

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

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

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

  • MEDIA MENTIONS/INTERVIEWSOpen or Close

    BROADCAST (E.G. TV, RADIO)

      AB InBev and SABMiller combine into one Mega-Brewery, 9/29/2016, Marketplace. See Web Page

      Walsh calls on IndyCar to step up to the plate, 7/6/2016, WCVB-TV. See Web Page

    ONLINE

      Bankruptcy Law Changes Impact Equity Prices, 8/4/2015, WSJ Pro Bankruptcy. See Web Page

      Blog Post on Financial Distress, Stock Returns, and the 1978 Bankruptcy Reform Act, 8/4/2015, Harvard Law School Bankruptcy Roundtable. See Web Page

      Blog Post on "Financial Distress, Stock Returns, and the 1978 Bankruptcy Reform Act", 5/12/2015, Harvard Law School Forum on Corporate Governance and Financial Regulation. See Web Page

  • WEB LINKSOpen or Close
  • DIRECTORSHIPOpen or Close

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