Dirk Hackbarth Associate Professor of Finance
515 East Gregory Drive, MC-520, Mailbox 35, Champaign, IL 61820, United States Email: dhackbar "at" illinois.edu   Tel: +1 (217) 333-7343   Fax: +1 (217) 244-3102
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Research Interests Capital Structure, Corporate Investment, Default Risk, Governance, Mergers and Acquisitions, Product Markets, and Real Options.

Publications in Refereed Journals ''The Firm-Level Credit Multiplier,'' with M. Campello. Journal of Financial Intermediation, Forthcoming. NBER Working Paper No. 17805, February 2012. ''Optimal Priority Structure, Capital Structure, and Investment,'' with D. Mauer. Review of Financial Studies, Forthcoming. Invited Paper, Foundation for the Advancement of Research in Financial Economics (FARFE) Conference, 2009. ''The Dynamics of Mergers and Acquisitions in Oligopolistic Industries,'' with J. Miao. Journal of Economic Dynamics and Control, Forthcoming. ''Liquidity Mergers,'' with H. Almeida and M. Campello. Journal of Financial Economics 102, Issue 3, December 2011, pp. 526-558. NBER Working Paper No. 16724, January 2011. ''Corporate Bond Credit Spreads and Forecast Dispersion,'' with L. Güntay, Journal of Banking and Finance, 34, Issue 10, October 2010, pp. 2328-2345. Best Conference Paper Award, Swiss Society for Financial Market Research Meetings, 2009. ''Determinants of Corporate Borrowing: A Behavioral Perspective,'' Journal of Corporate Finance 15, Issue 4, September 2009, pp. 389-411. Lead Article. ''Managerial Traits and Capital Structure Decisions,'' Journal of Financial and Quantitative Analysis 43, Number 4, December 2008, pp. 843-882. ''Stock Returns in Mergers and Acquisitions,'' with E. Morellec, Journal of Finance 63, Issue 3, June 2008, pp. 1213-1252. BGI Best Conference Paper Award (Runner-Up Prize), European Finance Association (EFA) Meetings, 2006. ''Can the Tradeoff Theory Explain Debt Structure?,'' with C. Hennessy and H. Leland, Review of Financial Studies 20, Number 5, September 2007, pp. 1389-1428. Early-Stage Draft with Renegotiation Costs: ''The Optimal Mix of Bank and Market Debt: An Asset Pricing Approach,'' 2003. ''Capital Structure, Credit Risk, and Macroeconomic Conditions,'' with J. Miao and E. Morellec, Journal of Financial Economics 82, Issue 3, December 2006, pp. 519-550.

Selected Working Papers ''Asymmetric Information and the Pecking Order,'' with P. Fulghieri and D. Garcia. Coming Soon. ''Does the Dearth of Mergers Mean More Competition?,'' with B. Taub. Coming Soon. ''Governance and Equity Prices: Does Transparency Matter?,'' with L. Gu. December 2011. ''Granularity of Corporate Debt: Theory and Tests,'' with J. Choi and J. Zechner. January 2012. ''Default Risk, Stock Returns, and the 1978 Bankruptcy Reform Act,'' with R. Haselmann and D. Schoenherr. October 2011. ''Investment Flexibility and Stock Returns,'' with T. Johnson. November 2011. Earlier version with additional results: ''Real Options and Risk Dynamics: Implications for the Cross-Section and Time-Series of Expected Returns,'' May 2011 ''Capital Structure, Product Market Dynamics, and the Boundaries of the Firm,'' with R. Mathews and D. Robinson. January 2012. White Paper written for the Institute for Innovation and Growth, Washington University in St. Louis.

Teaching Interests Advanced Corporate Finance (FIN321, B.S.), University of Illinois. Spring 2009, Spring 2010, and Spring 2011. Syllabus List of Teachers Ranked Excellent [Outstanding] by Their Students, Spring 2009, [Spring 2010], and Spring 2011. Advanced Corporate Finance (FIN594, Ph.D.), University of Illinois. Fall 2009, and Spring 2011. Syllabus List of Teachers Ranked Excellent by Their Students, Fall 2009. Capital Markets and Financial Management (FIN340, B.S.), Washington University. Spring 2006, Spring 2007, and Spring 2008. Syllabus Fixed Income Securities and Markets (FIN525, M.B.A./M.S.), Washington University. Spring 2007, and Spring 2008. Syllabus Intermediate Corporate Finance (FIN305, B.S.), Indiana University. Spring 2004, and Spring 2005. Syllabus Dean's List of Excellence in Teaching, Spring 2004, and Spring 2005.