{"id":10452,"date":"2024-08-06T17:03:32","date_gmt":"2024-08-06T21:03:32","guid":{"rendered":"https:\/\/www.bu.edu\/questrom\/profiles\/dirk-hackbarth\/"},"modified":"2026-05-11T15:32:04","modified_gmt":"2026-05-11T19:32:04","slug":"dirk-hackbarth","status":"publish","type":"profiles","link":"https:\/\/www.bu.edu\/questrom\/profiles\/dirk-hackbarth\/","title":{"rendered":"Dirk Hackbarth"},"content":{"rendered":"\n<div class=\"wp-block-group alignfull profile__standard-wrapper has-global-padding is-layout-constrained wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-columns profile__columns is-layout-flex wp-container-core-columns-is-layout-28f84493 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column profile__left-column is-layout-flow wp-container-core-column-is-layout-3bd72ab2 wp-block-column-is-layout-flow\"><figure class=\"profile__image wp-block-post-featured-image\"><img decoding=\"async\" alt=\"Dirk Hackbarth\" style=\"object-fit:contain\" class=\"wp-post-image\" src=\"http:\/\/questromapps.bu.edu\/images\/facstaff\/HackbarthDirk.jpg\" \/><\/figure>\n\n<aside class=\"profile__contact profile__contact--api wp-block-amp-profile-contact\" itemscope itemtype=\"http:\/\/schema.org\/Person\">\n  <h5>Contact<\/h5>\n  <div class=\"profile__contact-row\">\n          <div class=\"profile__contact-cell profile__contact-cell--phone\">\n        <h6 class=\"wp-block-heading has-h-8-font-size\" style=\"font-weight: 500; text-transform: uppercase; margin-top: 0px;\">\n        Phone\n      <\/h6>\n      <p class=\"has-p-2-font-size\" itemprop=\"telephone\">\n        617-358-4206      <\/p>\n    <\/div>\n              <div class=\"profile__contact-cell profile__contact-cell--email\">\n        <h6 class=\"wp-block-heading has-h-8-font-size\" style=\"font-weight: 500; text-transform: uppercase; margin-top: 0px;\">\n        Email\n      <\/h6>\n      <p class=\"has-p-2-font-size\">\n        <a href=\"mailto:dhackbar@bu.edu\" itemprop=\"email\">\n          dhackbar@bu.edu        <\/a>\n      <\/p>\n    <\/div>\n          <\/div>\n\n      <div class=\"profile__contact-buttons\">\n              <div class=\"wp-block-button is-style-primary-button\">\n          <a class=\"wp-block-button__link wp-element-button\" href=\"http:\/\/questromapps.bu.edu\/faculty\/uploadFiles\/cvUploadsProfile\/FE_Hackbarth_Dirk_CV.pdf\">\n            Download CV\n          <\/a>\n        <\/div>\n                    <div class=\"wp-block-button is-style-primary-button\">\n          <a class=\"wp-block-button__link wp-element-button\" href=\"http:\/\/people.bu.edu\/dhackbar\/index.html\" itemprop=\"url\">\n            Visit Website\n          <\/a>\n        <\/div>\n          <\/div>\n  \n      <div class=\"profile__contact-row\">\n\n              <div class=\"profile__contact-cell profile__contact-cell--office\">\n          <h6 class=\"wp-block-heading has-h-8-font-size\" style=\"font-weight: 500; text-transform: uppercase; margin-top: 0px;\">\n          Office\n        <\/h6>\n        <p class=\"has-p-2-font-size\" itemprop=\"workLocation\">\n          534        <\/p>\n      <\/div>\n                    <div class=\"profile__contact-cell profile__contact-cell--bu\">\n          <h6 class=\"wp-block-heading has-h-8-font-size\" style=\"font-weight: 500; text-transform: uppercase; margin-top: 0px\">\n            Boston University <br \/>\n            Questrom School of Business\n          <\/h6>\n                        <p class=\"has-p-2-font-size\" itemprop=\"address\">\n                Rafik B. Hariri Building <br \/>\n                595 Commonwealth Avenue <br \/>\n                Boston, MA 02215\n              <\/p>\n                  <\/div>\n          <\/div>\n  <\/aside><\/div>\n\n\n\n<div class=\"wp-block-column profile__right-column is-layout-flow wp-container-core-column-is-layout-3bd72ab2 wp-block-column-is-layout-flow\">\n<div class=\"wp-block-group profile__header-container has-global-padding is-layout-constrained wp-container-core-group-is-layout-7db9d80f wp-block-group-is-layout-constrained\" style=\"padding-right:0;padding-left:0\">\n<div class=\"wp-block-group profile__header-content has-global-padding is-layout-constrained wp-block-group-is-layout-constrained\"><h1 class=\"wp-block-post-title\">Dirk Hackbarth<\/h1>\n\n\n<div class=\"alignfull wp-block-amp-profile-position\">\n\t\t\t<p class=\"has-text-align-left has-text-transform-uppercase has-p-2-font-size\" style=\"text-transform: uppercase; font-weight: 600\">\n\t\t\tProfessor, Finance\t\t<\/p>\n\t<\/div>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-amp-profile-bio\">\n\t<p>Dirk Hackbarth is currently a Professor of Finance at the Boston University Questrom School of Business. He holds a PhD and MS in Finance from the Haas School of Business, University of California, Berkeley; a MSc in Economics from the London School of Economics; and a Diplom in Business Economics from the University of Cologne. He teaches graduate and undergraduate courses in corporate finance. Dirk is a distinguished scholar in corporate finance. His research focuses on bankruptcy, capital structure, corporate governance, law and finance, mergers and acquisitions, product markets, real options, and valuation.<\/p>\n<p>He has given more than 150 invited talks 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. Dirk&#8217;s work has been published in leading journals, including Journal of Finance, Journal of Financial Economics, Journal of Financial and Quantitative Analysis, Management Science, Review of Corporate Finance Studies, Review of Economic Studies, Review of Finance, and Review of Financial Studies, and it has also been recognized by conference and publication awards.<\/p>\n<p>Previous positions include the May Faculty Fellow and Associate Professor of Finance (tenured in 2008), University of Illinois at Urbana-Champaign, the Everett Lord Distinguished Faculty Scholar at Boston University, as well as visits at Bonn Graduate School of Economics, Frankfurt School of Finance, Goethe University Frankfurt, Gutmann Center at the Vienna University of Economics and Business, London Business School, Massachusetts Institute of Technology, and Norwegian School of Economics and Business. Prior to academe, he had jobs at Bain, DZ Bank, and Union Bank of Switzerland.<\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-amp-profile-data profile-data\"><div class=\"wp-block-group profile__data-section has-global-padding is-layout-constrained wp-block-group-is-layout-constrained wp-block-amp-profile-education\">\n\t<h5 class=\"wp-block-heading\" style=\"font-weight: 500\">\n\tEducation\t<\/h5>\n\n\t<div class=\"wp-block-group profile__data-row has-global-padding is-layout-constrained wp-block-group-is-layout-constrained\">\n\t\t<p class=\"has-text-align-left has-neutral-01-color has-text-color has-link-color has-p-2-font-size\">PhD, Walter A. Haas School of Business, University of California, Berkeley, 2003<\/p><p class=\"has-text-align-left has-neutral-01-color has-text-color has-link-color has-p-2-font-size\">MS, Walter A. Haas School of Business, University of California, Berkeley, 2000<\/p><p class=\"has-text-align-left has-neutral-01-color has-text-color has-link-color has-p-2-font-size\">MS, London School of Economics, 1998<\/p><p class=\"has-text-align-left has-neutral-01-color has-text-color has-link-color has-p-2-font-size\">Diploma, University of Cologne, 1997<\/p>\t\t<\/p>\n\t<\/div>\n<\/div>\n\n\n\n\n<div class=\"wp-block-group profile__data-section has-global-padding is-layout-constrained wp-block-group-is-layout-constrained wp-block-amp-profile-publications\">\n\t<h5 class=\"wp-block-heading\" style=\"font-weight: 500\">\n\tPublications\t<\/h5>\n\n\t<div class=\"wp-block-group profile__data-row has-global-padding is-layout-constrained wp-block-group-is-layout-constrained\">\n\t<p class=\"has-text-align-left has-neutral-01-color has-text-color has-link-color has-p-2-font-size\">Hackbarth, D., Taub, B. (In Press). &#8220;Does the Potential to Merge Reduce Competition?&#8221;, <i>Management Science<\/i>, <i>Forthcoming<\/i><\/p><p class=\"has-text-align-left has-neutral-01-color has-text-color has-link-color has-p-2-font-size\">Fulghieri, P., Garcia, D., Hackbarth, D. (In Press). &#8220;Asymmetric Information and the Pecking (Dis)Order&#8221;, <i>Review of Finance<\/i><\/p><p class=\"has-text-align-left has-neutral-01-color has-text-color has-link-color has-p-2-font-size\">Gu, L., Hackbarth, D., Johnson, T. (In Press). &#8220;Inflexibility and Stock Returns&#8221;, <i>Review of Financial Studies<\/i><\/p><p class=\"has-text-align-left has-neutral-01-color has-text-color has-link-color has-p-2-font-size\">Choi, J., Hackbarth, D., Zechner, J. (In Press). &#8220;Granularity of Corporate Debt&#8221;, <i>SSRN Electronic Journal<\/i><\/p><p class=\"has-text-align-left has-neutral-01-color has-text-color has-link-color has-p-2-font-size\">Gu, L., Hackbarth, D., Johnson, T. (In Press). &#8220;Inflexibility and Stock Returns&#8221;, <i>SSRN Electronic Journal<\/i><\/p><p class=\"has-text-align-left has-neutral-01-color has-text-color has-link-color has-p-2-font-size\">Hackbarth, D., Sun, D. (2024). &#8220;Corporate Investment and Financing Dynamics&#8221;, <i>Review of Corporate Finance Studies<\/i>, <i>13<\/i> (3),  625-667<\/p><p class=\"has-text-align-left has-neutral-01-color has-text-color has-link-color has-p-2-font-size\">Chen, Z., Hackbarth, D., Strebulaev, I. (2022). &#8220;A unified model of distress risk puzzles&#8221;, <i>Journal of Financial Economics<\/i>, <i>146<\/i> (2),  357-384<\/p><p class=\"has-text-align-left has-neutral-01-color has-text-color has-link-color has-p-2-font-size\">Hackbarth, D., Rivera, A., Wong, T. (2022). &#8220;Optimal Short-Termism&#8221;, <i>Management Science<\/i>, <i>68<\/i> (9),  6477-6505<\/p><p class=\"has-text-align-left has-neutral-01-color has-text-color has-link-color has-p-2-font-size\">Hackbarth, D., Taub, B. (2022). &#8220;Does the Potential to Merge Reduce Competition?&#8221;, <i>Management Science<\/i>, <i>68<\/i> (7),  5364-5383<\/p><p class=\"has-text-align-left has-neutral-01-color has-text-color has-link-color has-p-2-font-size\">Choi, J., Hackbarth, D., Zechner, J. (2021). &#8220;Granularity of Corporate Debt&#8221;, <i>Journal of Financial and Quantitative Analysis<\/i>, <i>56<\/i> (4),  1127-1162<\/p><p class=\"has-text-align-left has-neutral-01-color has-text-color has-link-color has-p-2-font-size\">Fulghieri, P., Garc\u00eda, D., Hackbarth, D. (2020). &#8220;Asymmetric Information and the Pecking (Dis)Order&#8221;, <i>Review of Finance<\/i>, <i>24<\/i> (5),  961-996<\/p><p class=\"has-text-align-left has-neutral-01-color has-text-color has-link-color has-p-2-font-size\">Chen, H., Hackbarth, D. (2020). &#8220;Active Sector Funds and Fund Manager Skill&#8221;, <i>The Journal of Portfolio Management<\/i>, <i>46<\/i> (8),  64-85<\/p><p class=\"has-text-align-left has-neutral-01-color has-text-color has-link-color has-p-2-font-size\">Leland, H., Hackbarth, D. (2019). &#8220;Debt Maturity and the Leverage Ratcheting Effect&#8221;, <i>Finance<\/i>, <i>Vol. 40<\/i> (3),  13-44<\/p><p class=\"has-text-align-left has-neutral-01-color has-text-color has-link-color has-p-2-font-size\">Leland, H., Hackbarth, D. (2019). &#8220;Debt Maturity and the Leverage Ratcheting Effect&#8221;, <i>Finance<\/i>, <i>40 No.3<\/i><\/p><p class=\"has-text-align-left has-neutral-01-color has-text-color has-link-color has-p-2-font-size\">Choi, J., Hackbarth, D., Zechner, J. (2018). &#8220;Corporate debt maturity profiles&#8221;, <i>Journal of Financial Economics<\/i>, <i>130<\/i> (3),  484-502<\/p><p class=\"has-text-align-left has-neutral-01-color has-text-color has-link-color has-p-2-font-size\">Hackbarth, D., Zhou, B. (2018). &#8220;Examining The Role Of Market Price In Appraisal (Part 1 &#038; Part 2)&#8221;, <i>Law360<\/i><\/p><p class=\"has-text-align-left has-neutral-01-color has-text-color has-link-color has-p-2-font-size\">Hackbarth, D., Zhou, B. (2018). &#8220;Effects of New Tax Law on Capital Structure and Cost of Capital&#8221;, <i>Tax Notes<\/i>, <i>158<\/i> (11),  1523-1528<\/p><p class=\"has-text-align-left has-neutral-01-color has-text-color has-link-color has-p-2-font-size\">Arnold, M., Hackbarth, D., Puhan, T. (2018). &#8220;Financing Asset Sales and Business Cycles&#8221;, <i>Review of Finance<\/i>, <i>22<\/i> (1),  243-277<\/p><p class=\"has-text-align-left has-neutral-01-color has-text-color has-link-color has-p-2-font-size\">Gu, L., Hackbarth, D., Johnson, T. (2018). &#8220;Inflexibility and Stock Returns&#8221;, <i>The Review of Financial Studies<\/i>, <i>31<\/i> (1),  278-321<\/p><p class=\"has-text-align-left has-neutral-01-color has-text-color has-link-color has-p-2-font-size\">Choi, J., Hackbarth, D., Zechner, J. (2017). &#8220;Corporate Debt Maturity Profiles&#8221;, <i>SSRN Electronic Journal<\/i><\/p><p class=\"has-text-align-left has-neutral-01-color has-text-color has-link-color has-p-2-font-size\">Fahlenbrach, R., Hackbarth, D., Rocholl, J., Theissen, E., Uhrig-Homburg, M. (2017). &#8220;The Future of Corporate Financing in Europe&#8221;, <i>Schmalenbach Business Review<\/i>, <i>18<\/i> (3),  179-180<\/p><p class=\"has-text-align-left has-neutral-01-color has-text-color has-link-color has-p-2-font-size\">Hackbarth, D., Johnson, T. (2015). &#8220;Real Options and Risk Dynamics&#8221;, <i>Review of Economic Studies<\/i>, <i>82<\/i> (4),  1449-1482<\/p><p class=\"has-text-align-left has-neutral-01-color has-text-color has-link-color has-p-2-font-size\">Hackbarth, D., Haselmann, R., Schoenherr, D. (2015). &#8220;Financial Distress, Stock Returns, and the 1978 Bankruptcy Reform Act&#8221;, <i>Review of Financial Studies<\/i>, <i>28<\/i> (6),  1810-1847<\/p><p class=\"has-text-align-left has-neutral-01-color has-text-color has-link-color has-p-2-font-size\">Fulghieri, P., Garcia, D., Hackbarth, D. (2015). &#8220;Asymmetric Information, Security Design, and the Pecking (Dis)Order&#8221;, <i>SSRN Electronic Journal<\/i><\/p><p class=\"has-text-align-left has-neutral-01-color has-text-color has-link-color has-p-2-font-size\">Goldstein, I., Hackbarth, D. (2014). &#8220;Corporate finance theory: Introduction to special issue&#8221;, <i>Journal of Corporate Finance<\/i>, <i>29<\/i> 535-541<\/p><p class=\"has-text-align-left has-neutral-01-color has-text-color has-link-color has-p-2-font-size\">Hackbarth, D., Mathews, R., Robinson, D. (2014). &#8220;Capital Structure, Product Market Dynamics, and the Boundaries of the Firm&#8221;, <i>Management Science<\/i>, <i>60<\/i> (12),  2971-2993<\/p><p class=\"has-text-align-left has-neutral-01-color has-text-color has-link-color has-p-2-font-size\">Gu, L., Hackbarth, D. (2013). &#8220;Governance and Equity Prices: Does Transparency Matter?&#8221;, <i>Review of Finance<\/i>, <i>17<\/i> (6),  1989-2033<\/p><p class=\"has-text-align-left has-neutral-01-color has-text-color has-link-color has-p-2-font-size\">Campello, M., Hackbarth, D. (2012). &#8220;The firm-level credit multiplier&#8221;, <i>Journal of Financial Intermediation<\/i>, <i>21<\/i> (3),  446-472<\/p><p class=\"has-text-align-left has-neutral-01-color has-text-color has-link-color has-p-2-font-size\">Hackbarth, D., Miao, J. (2012). &#8220;The dynamics of mergers and acquisitions in oligopolistic industries&#8221;, <i>Journal of Economic Dynamics and Control<\/i>, <i>36<\/i> (4),  585-609<\/p><p class=\"has-text-align-left has-neutral-01-color has-text-color has-link-color has-p-2-font-size\">Hackbarth, D., Mauer, D. (2012). &#8220;Optimal Priority Structure, Capital Structure, and Investment&#8221;, <i>Review of Financial Studies<\/i>, <i>25<\/i> (3),  747-796<\/p><p class=\"has-text-align-left has-neutral-01-color has-text-color has-link-color has-p-2-font-size\">Almeida, H., Campello, M., Hackbarth, D. (2011). &#8220;Liquidity mergers&#8221;, <i>Journal of Financial Economics<\/i>, <i>102<\/i> (3),  526-558<\/p><p class=\"has-text-align-left has-neutral-01-color has-text-color has-link-color has-p-2-font-size\">Hackbarth, D., Gider, J. (2010). Financing Decisions.&#8221;Behavioral Finance: Investors, Corporations, and Markets&#8221;, <i>John Wiley &#038; Sons<\/i><\/p><p class=\"has-text-align-left has-neutral-01-color has-text-color has-link-color has-p-2-font-size\">Guentay, L., Hackbarth, D. (2010). &#8220;Corporate bond credit spreads and forecast dispersion&#8221;, <i>Journal of Banking and Finance<\/i>, <i>34<\/i> (10),  2328-2345<\/p><p class=\"has-text-align-left has-neutral-01-color has-text-color has-link-color has-p-2-font-size\">Hackbarth, D. (2009). &#8220;Determinants of corporate borrowing: A behavioral perspective&#8221;, <i>Journal of Corporate Finance<\/i>, <i>15<\/i> (4),  389-411<\/p><p class=\"has-text-align-left has-neutral-01-color has-text-color has-link-color has-p-2-font-size\">Hackbarth, D. (2008). &#8220;Managerial Traits and Capital Structure Decisions&#8221;, <i>Journal of Financial and Quantitative Analysis<\/i>, <i>43<\/i> (4),  843-881<\/p><p class=\"has-text-align-left has-neutral-01-color has-text-color has-link-color has-p-2-font-size\">Hackbarth, D., Morellec, E. (2008). &#8220;Stock returns in mergers and acquisitions&#8221;, <i>Journal of Finance<\/i>, <i>63<\/i> (3),  1213-1252<\/p><p class=\"has-text-align-left has-neutral-01-color has-text-color has-link-color has-p-2-font-size\">Miao, J., Hackbarth, D. (2008). &#8220;The Timing and Returns of Mergers and Acquisitions in Oligopolistic Industries&#8221;, <\/p><p class=\"has-text-align-left has-neutral-01-color has-text-color has-link-color has-p-2-font-size\">Hackbarth, D., Hennessy, C., Leland, H. (2007). &#8220;Can the trade-off theory explain debt structure?&#8221;, <i>Review of Financial Studies<\/i>, <i>20<\/i> (5),  1389-1428<\/p><p class=\"has-text-align-left has-neutral-01-color has-text-color has-link-color has-p-2-font-size\">Hackbarth, D., Miao, J., Morellec, E. (2006). &#8220;Capital structure, credit risk, and macroeconomic conditions&#8221;, <i>Journal of Financial Economics<\/i>, <i>82<\/i> (3),  519-550<\/p>\t\t<\/p>\n\t<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":0,"template":"","meta":{"_acf_changed":false,"inline_featured_image":false,"bu_is_from_api":true,"buID":"U98514779","lastName":"Hackbarth","firstName":"Dirk","middleName":"","suffixName":"","phone":"617-358-4206","email":"dhackbar@bu.edu","pronouns":"","cv":"http:\/\/questromapps.bu.edu\/faculty\/uploadFiles\/cvUploadsProfile\/FE_Hackbarth_Dirk_CV.pdf","website":"http:\/\/people.bu.edu\/dhackbar\/index.html","office":"534","address":"595 Commonwealth Ave","bio":"Dirk Hackbarth is currently a Professor of Finance at the Boston University Questrom School of Business. He holds a PhD and MS in Finance from the Haas School of Business, University of California, Berkeley; a MSc in Economics from the London School of Economics; and a Diplom in Business Economics from the University of Cologne. He teaches graduate and undergraduate courses in corporate finance. Dirk is a distinguished scholar in corporate finance. His research focuses on bankruptcy, capital structure, corporate governance, law and finance, mergers and acquisitions, product markets, real options, and valuation.\n\nHe has given more than 150 invited talks 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. Dirk's work has been published in leading journals, including Journal of Finance, Journal of Financial Economics, Journal of Financial and Quantitative Analysis, Management Science, Review of Corporate Finance Studies, Review of Economic Studies, Review of Finance, and Review of Financial Studies, and it has also been recognized by conference and publication awards.\n\nPrevious positions include the May Faculty Fellow and Associate Professor of Finance (tenured in 2008), University of Illinois at Urbana-Champaign, the Everett Lord Distinguished Faculty Scholar at Boston University, as well as visits at Bonn Graduate School of Economics, Frankfurt School of Finance, Goethe University Frankfurt, Gutmann Center at the Vienna University of Economics and Business, London Business School, Massachusetts Institute of Technology, and Norwegian School of Economics and Business. Prior to academe, he had jobs at Bain, DZ Bank, and Union Bank of Switzerland.","bu_profile_image_url":"http:\/\/questromapps.bu.edu\/images\/facstaff\/HackbarthDirk.jpg","position":["Professor, Finance"],"education":["PhD, Walter A. Haas School of Business, University of California, Berkeley, 2003","MS, Walter A. Haas School of Business, University of California, Berkeley, 2000","MS, London School of Economics, 1998","Diploma, University of Cologne, 1997"],"publications":["Hackbarth, D., Taub, B. (In Press). \"Does the Potential to Merge Reduce Competition?\", <i>Management Science<\/i>, <i>Forthcoming<\/i>","Fulghieri, P., Garcia, D., Hackbarth, D. (In Press). \"Asymmetric Information and the Pecking (Dis)Order\", <i>Review of Finance<\/i>","Gu, L., Hackbarth, D., Johnson, T. (In Press). \"Inflexibility and Stock Returns\", <i>Review of Financial Studies<\/i>","Choi, J., Hackbarth, D., Zechner, J. (In Press). \"Granularity of Corporate Debt\", <i>SSRN Electronic Journal<\/i>","Gu, L., Hackbarth, D., Johnson, T. (In Press). \"Inflexibility and Stock Returns\", <i>SSRN Electronic Journal<\/i>","Hackbarth, D., Sun, D. (2024). \"Corporate Investment and Financing Dynamics\", <i>Review of Corporate Finance Studies<\/i>, <i>13<\/i> (3),  625-667","Chen, Z., Hackbarth, D., Strebulaev, I. (2022). \"A unified model of distress risk puzzles\", <i>Journal of Financial Economics<\/i>, <i>146<\/i> (2),  357-384","Hackbarth, D., Rivera, A., Wong, T. (2022). \"Optimal Short-Termism\", <i>Management Science<\/i>, <i>68<\/i> (9),  6477-6505","Hackbarth, D., Taub, B. (2022). \"Does the Potential to Merge Reduce Competition?\", <i>Management Science<\/i>, <i>68<\/i> (7),  5364-5383","Choi, J., Hackbarth, D., Zechner, J. (2021). \"Granularity of Corporate Debt\", <i>Journal of Financial and Quantitative Analysis<\/i>, <i>56<\/i> (4),  1127-1162","Fulghieri, P., Garc\u00eda, D., Hackbarth, D. (2020). \"Asymmetric Information and the Pecking (Dis)Order\", <i>Review of Finance<\/i>, <i>24<\/i> (5),  961-996","Chen, H., Hackbarth, D. (2020). \"Active Sector Funds and Fund Manager Skill\", <i>The Journal of Portfolio Management<\/i>, <i>46<\/i> (8),  64-85","Leland, H., Hackbarth, D. (2019). \"Debt Maturity and the Leverage Ratcheting Effect\", <i>Finance<\/i>, <i>Vol. 40<\/i> (3),  13-44","Leland, H., Hackbarth, D. (2019). \"Debt Maturity and the Leverage Ratcheting Effect\", <i>Finance<\/i>, <i>40 No.3<\/i>","Choi, J., Hackbarth, D., Zechner, J. (2018). \"Corporate debt maturity profiles\", <i>Journal of Financial Economics<\/i>, <i>130<\/i> (3),  484-502","Hackbarth, D., Zhou, B. (2018). \"Examining The Role Of Market Price In Appraisal (Part 1 & Part 2)\", <i>Law360<\/i>","Hackbarth, D., Zhou, B. (2018). \"Effects of New Tax Law on Capital Structure and Cost of Capital\", <i>Tax Notes<\/i>, <i>158<\/i> (11),  1523-1528","Arnold, M., Hackbarth, D., Puhan, T. (2018). \"Financing Asset Sales and Business Cycles\", <i>Review of Finance<\/i>, <i>22<\/i> (1),  243-277","Gu, L., Hackbarth, D., Johnson, T. (2018). \"Inflexibility and Stock Returns\", <i>The Review of Financial Studies<\/i>, <i>31<\/i> (1),  278-321","Choi, J., Hackbarth, D., Zechner, J. (2017). \"Corporate Debt Maturity Profiles\", <i>SSRN Electronic Journal<\/i>","Fahlenbrach, R., Hackbarth, D., Rocholl, J., Theissen, E., Uhrig-Homburg, M. (2017). \"The Future of Corporate Financing in Europe\", <i>Schmalenbach Business Review<\/i>, <i>18<\/i> (3),  179-180","Hackbarth, D., Johnson, T. (2015). \"Real Options and Risk Dynamics\", <i>Review of Economic Studies<\/i>, <i>82<\/i> (4),  1449-1482","Hackbarth, D., Haselmann, R., Schoenherr, D. (2015). \"Financial Distress, Stock Returns, and the 1978 Bankruptcy Reform Act\", <i>Review of Financial Studies<\/i>, <i>28<\/i> (6),  1810-1847","Fulghieri, P., Garcia, D., Hackbarth, D. (2015). \"Asymmetric Information, Security Design, and the Pecking (Dis)Order\", <i>SSRN Electronic Journal<\/i>","Goldstein, I., Hackbarth, D. (2014). \"Corporate finance theory: Introduction to special issue\", <i>Journal of Corporate Finance<\/i>, <i>29<\/i> 535-541","Hackbarth, D., Mathews, R., Robinson, D. (2014). \"Capital Structure, Product Market Dynamics, and the Boundaries of the Firm\", <i>Management Science<\/i>, <i>60<\/i> (12),  2971-2993","Gu, L., Hackbarth, D. (2013). \"Governance and Equity Prices: Does Transparency Matter?\", <i>Review of Finance<\/i>, <i>17<\/i> (6),  1989-2033","Campello, M., Hackbarth, D. (2012). \"The firm-level credit multiplier\", <i>Journal of Financial Intermediation<\/i>, <i>21<\/i> (3),  446-472","Hackbarth, D., Miao, J. (2012). \"The dynamics of mergers and acquisitions in oligopolistic industries\", <i>Journal of Economic Dynamics and Control<\/i>, <i>36<\/i> (4),  585-609","Hackbarth, D., Mauer, D. (2012). \"Optimal Priority Structure, Capital Structure, and Investment\", <i>Review of Financial Studies<\/i>, <i>25<\/i> (3),  747-796","Almeida, H., Campello, M., Hackbarth, D. (2011). \"Liquidity mergers\", <i>Journal of Financial Economics<\/i>, <i>102<\/i> (3),  526-558","Hackbarth, D., Gider, J. (2010). Financing Decisions.\"Behavioral Finance: Investors, Corporations, and Markets\", <i>John Wiley & Sons<\/i>","Guentay, L., Hackbarth, D. (2010). \"Corporate bond credit spreads and forecast dispersion\", <i>Journal of Banking and Finance<\/i>, <i>34<\/i> (10),  2328-2345","Hackbarth, D. (2009). \"Determinants of corporate borrowing: A behavioral perspective\", <i>Journal of Corporate Finance<\/i>, <i>15<\/i> (4),  389-411","Hackbarth, D. (2008). \"Managerial Traits and Capital Structure Decisions\", <i>Journal of Financial and Quantitative Analysis<\/i>, <i>43<\/i> (4),  843-881","Hackbarth, D., Morellec, E. (2008). \"Stock returns in mergers and acquisitions\", <i>Journal of Finance<\/i>, <i>63<\/i> (3),  1213-1252","Miao, J., Hackbarth, D. (2008). \"The Timing and Returns of Mergers and Acquisitions in Oligopolistic Industries\", ","Hackbarth, D., Hennessy, C., Leland, H. (2007). \"Can the trade-off theory explain debt structure?\", <i>Review of Financial Studies<\/i>, <i>20<\/i> (5),  1389-1428","Hackbarth, D., Miao, J., Morellec, E. (2006). \"Capital structure, credit risk, and macroeconomic conditions\", <i>Journal of Financial Economics<\/i>, <i>82<\/i> (3),  519-550"],"presentations":[],"awards_honors":["2025, Updated Science-Wide Author Databases of Standardized Citation Indicators, ","2024, Steven M. 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