Dirk Hackbarth
Professor of Finance
Dean's Research Scholar
Faculty Fellow, Center for Finance, Law & Policy

Boston University
Questrom School of Business
Rafik B. Hariri Building
595 Commonwealth Avenue
Boston, MA 02215

Email: dhackbar [at] bu [dot] edu
Tel: +1 (617) 358–4206

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Research Interests

Bankruptcy, Capital Structure, Governance, Law & Finance, Mergers & Acquisitions, Product Markets, Real Options, and Valuation.

Publications in Refereed Journals

  1. ''Real Options and Risk Dynamics,'' with T. Johnson. Review of Economic Studies, Volume 82, Issue 4, October 2015, pp. 1449-1482.

  2. ''Financial Distress, Stock Returns, and the 1978 Bankruptcy Reform Act,'' with R. Haselmann and D. Schoenherr. Review of Financial Studies, Volume 28, Issue 6, June 2015, pp. 1810-1847. Online Appendix.
  3. ''Capital Structure, Product Market Dynamics, and the Boundaries of the Firm,'' with R. Mathews and D. Robinson. Management Science, Volume 60, Issue 12, December 2014, pp. 2971-2993. Online Appendices.
  4. ''Governance and Equity Prices: Does Transparency Matter?,'' with L. Gu. Review of Finance, Volume 17, Issue 6, November 2013, pp. 1989-2033.

  5. ''The Firm-Level Credit Multiplier,'' with M. Campello. Journal of Financial Intermediation, Volume 21, Issue 3, July 2012, pp. 446-472. Online Appendix.
    • NBER Working Paper No. 17805, February 2012.

  6. ''The Dynamics of Mergers and Acquisitions in Oligopolistic Industries,'' with J. Miao. Journal of Economic Dynamics and Control, Volume 36, Issue 4, April 2012, pp. 585-609.

  7. ''Optimal Priority Structure, Capital Structure, and Investment,'' with D. Mauer. Review of Financial Studies, Volume 25, Issue 3, March 2012, pp. 747-796.
    • Invited Paper, Foundation for the Advancement of Research in Financial Economics (FARFE) Conference, 2009.

  8. ''Liquidity Mergers,'' with H. Almeida and M. Campello. Journal of Financial Economics, Volume 102, Issue 3, December 2011, pp. 526-558.
    • NBER Working Paper No. 16724, January 2011.

  9. ''Corporate Bond Credit Spreads and Forecast Dispersion,'' with L. Güntay, Journal of Banking and Finance, Volume 34, Issue 10, October 2010, pp. 2328-2345.
    • Best Conference Paper Award, Swiss Society for Financial Market Research Meetings, 2009.

  10. ''Determinants of Corporate Borrowing: A Behavioral Perspective,'' Journal of Corporate Finance, Volume 15, Issue 4, September 2009, pp. 389-411.
    • Lead Article.

  11. ''Managerial Traits and Capital Structure Decisions,'' Journal of Financial and Quantitative Analysis, Volume 43, Issue 4, December 2008, pp. 843-882.

  12. ''Stock Returns in Mergers and Acquisitions,'' with E. Morellec, Journal of Finance, Volume 63, Issue 3, June 2008, pp. 1213-1252.
    • BGI Best Conference Paper Award (Runner-Up Prize), European Finance Association (EFA) Meetings, 2006.

  13. ''Can the Tradeoff Theory Explain Debt Structure?,'' with C. Hennessy and H. Leland, Review of Financial Studies, Volume 20, Issue 5, September 2007, pp. 1389-1428.
  14. ''Capital Structure, Credit Risk, and Macroeconomic Conditions,'' with J. Miao and E. Morellec, Journal of Financial Economics, Volume 82, Issue 3, December 2006, pp. 519-550.
Other Publications

  1. ''Corporate Finance Theory: Introduction to Special Issue,'' with I. Goldstein. Journal of Corporate Finance, 29, December 2014, pp. 535-541.

  2. ''Financing Decisions,'' with J. Gider. Chapter 21 in: Behavioral Finance: Investors, Corporations, and Markets, H. Baker and J. Nofsinger (Eds.), 2010, Wiley & Sons.
Selected Working Papers

  1. ''Inflexibility and Stock Returns,'' with L. Gu and T. Johnson. October 2015.

  2. ''Corporate Investment and Financing Dynamics,'' with D. Sun. August 2015.

  3. ''Financing Asset Sales and Business Cycles,'' with M. Arnold and T. Puhan. March 2016.
  4. ''Corporate Debt Maturity Profiles,'' with J. Choi and J. Zechner. July 2015.
    • CFS Working Paper No. 2013/26, May 2013.

  5. ''Asymmetric Information, Security Design, and the Pecking (Dis)Order,'' with P. Fulghieri and D. Garcia. June 2015.
  6. ''Does the Dearth of Mergers Mean More Competition?,'' with B. Taub. January 2014.

Selected Professional Activities

Current and Recent Teaching Activities

  • FE 810: Finance 2 (M.B.A., Module 4, Spring 2016).
  • FIN 594: Advanced Corporate Finance (Ph.D., Spring 2013).
  • FIN 451: International Financial Markets (B.S., Spring 2013).
Miscellaneous and Other Information

  • Hobbies: Bicycling, Food, Jogging, Skiing, and Yoga.


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