Faculty Directory
B. Espen Eckbo
Tuck Centennial Professor of Finance; Founding Director, Lindenauer Center for Corporate Governance
E-Mailb.espen.eckbo@tuck.dartmouth.edu
Phone603-646-3953
DegreePhD, University of Rochester, 1981; MSc, University of Rochester, 1980; MSc, Norwegian School of Economics and Business Administration, 1977; BSc, Norwegian School of Economics and Business Administration, 1975
AREAS OF EXPERTISEFinance, economics, industrial organization
Current Research Topics
Investment banking, takeovers, bankruptcy, corporate governance, liquidity risk
Selected Publications
With S. Betton and K. Thorburn, "Merger Negotiations and the Toehold Puzzle," Journal of Financial Economics, 91(2), 2009; with K. Thorburn, "Automatic Bankruptcy Auctions and Fire-Sales," Journal of Financial Economics, 89(3), 2008; with Ø. Norli, "Liquidity Risk, Leverage, and Long-Run IPO Returns," Journal of Corporate Finance, 11(1-2), 2005; with K. Thorburn, "Control Benefits and CEO Discipline in Automatic Bankruptcy Auctions," Journal of Financial Economics, 69(1), 2003; with S. Betton, "Toeholds, Bid-Jumps, and Expected Payoffs in Takeovers," Review of Financial Studies, 13(4), 2000; with R. Masulis and Ø. Norli, "Seasoned Security Offerings: Resolution of the ‘New Issues Puzzle’," Journal of Financial Economics, 56(2), 2000; with D. Smith, "The Conditional Performance of Insider Trades," Journal of Finance, 53(2), 1998; "Mergers and the Value of Antitrust Deterrence," Journal of Finance, 47(3), 1992; with R. Masulis, "Adverse Selection and the Rights Offer Paradox," Journal of Financial Economics, 32(3), 1992
Working Papers
With S. Betton and K. Thorburn, “Markup Pricing Revisited”
Awards
Best paper, Journal of Corporate Finance, 2009; Barclays Global Investors/Michael Brennan Prize for best paper, Review of Financial Studies, 2000; nominee, Smith-Breeden Prize for best paper, Journal of Finance, 1998; Harry Johnson Prize for best paper, Canadian Journal of Economics, 1987; Batterymarch Fellowship, 1987
Professional Activities
Academic positions: Tuck School of Business, 1998–present; Visiting Professor, MIT, 2001; Gösta Olson Professor of Finance, Stockholm School of Economics, 1996–98; Finn Øyen Professor of Finance, Norwegian School of Management, 1993–94; Visiting Professor, University of California, Los Angeles, 1985–86; Professor of Finance, University of British Columbia, 1981–96
Board memberships: Academic Director, Financial Management Association, 2007–present; IndexSpar, 2000–05; Center for Leadership in Government, America’s Health Insurance Plans, 2006–present; Investment Committee, UNIFOR, 1997–98; Norwegian National Research Council, 1996–2001
Editorial positions: Advisory Editor, Handbooks in Finance, 2007–present; Associate Editor, Finance Research Letters, Journal of Corporate Finance, Journal of Empirical Finance, Review of Finance, Review of Financial Studies, 1998–2002; Guest Co-Editor, Journal of Financial Economics, 69(1); Founding Co-Editor, European Finance Review, 1997–2003
Research & Teaching Summary
Professor Eckbo has published extensively the areas of corporate finance, investment banking and the market for corporate control. He is a Research Associate of the European Corporate Governance Institute (ECGI) and a former Research Fellow of the Center for Research in Public Policy (CEPR). He is a frequent keynote and invited seminar speaker, and was recently called by the U.S. Congress to testify on issues concerning the government's large equity ownership positions in companies rescued under the Troubled Asset Relief Program (TARP).