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
DegreeBSc, Norwegian School of Economics and Business Administration, 1975; MSc, Norwegian School of Economics and Business Administration, 1977; MSc, University of Rochester, 1980; PhD, University of Rochester, 1981
AREAS OF EXPERTISEFinance, economics, industrial organization
Current Research Topics
Investment banking, takeovers, bankruptcy, corporate governance, liquidity risk
Selected Publications
With R. Masulis, "Adverse Selection and the Rights Offer Paradox," Journal of Financial Economics, 32(3), 1992; "Mergers and the Value of Antitrust Deterrence," Journal of Finance, 47(3), 1992; with D. Smith, "The Conditional Performance of Insider Trades," Journal of Finance, 53(2), 1998; with R. Masulis and Ø. Norli, "Seasoned Security Offerings: Resolution of the ‘New Issues Puzzle’," Journal of Financial Economics, 56(2), 2000; with S. Betton, "Toeholds, Bid-Jumps, and Expected Payoffs in Takeovers," Review of Financial Studies, 13(4), 2000; with K. Thorburn, "Control Benefits and CEO Discipline in Automatic Bankruptcy Auctions," Journal of Financial Economics, 69(1), 2003; with Ø. Norli, "Liquidity Risk, Leverage, and Long-Run IPO Returns," Journal of Corporate Finance, 11(1-2), 2005; with K. Thorburn, "Automatic Bankruptcy Auctions and Fire-Sales," Journal of Financial Economics, 89(3), 2008; with S. Betton and K. Thorburn, "Merger Negotiations and the Toehold Puzzle," Journal of Financial Economics, 91(2), 2009
Working Papers
With S. Betton and K. Thorburn, “Markup Pricing Revisited”
Awards
Batterymarch Fellowship, 1987; Harry Johnson Prize for best paper, Canadian Journal of Economics, 1987; nominee, Smith-Breeden Prize for best paper, Journal of Finance, 1998; Barclays Global Investors/Michael Brennan Prize for best paper, Review of Financial Studies, 2000; best paper, Journal of Corporate Finance, 2009
Professional Activities
Academic positions: Professor of Finance, University of British Columbia, 1981–96; Visiting Professor, University of California, Los Angeles, 1985–86; Finn Øyen Professor of Finance, Norwegian School of Management, 1993–94; Gösta Olson Professor of Finance, Stockholm School of Economics, 1996–98; Tuck School of Business, 1998–present; Visiting Professor, MIT, 2001
Board memberships: Norwegian National Research Council, 1996–2001; Investment Committee, UNIFOR, 1997–98; IndexSpar, 2000–05; Center for Leadership in Government, America’s Health Insurance Plans, 2006–present; Academic Director, Financial Management Association, 2007–present
Editorial positions: Founding Co-Editor, European Finance Review, 1997–2003; Guest Co-Editor, Journal of Financial Economics, 69(1); Associate Editor, Finance Research Letters, Journal of Corporate Finance, Journal of Empirical Finance, Review of Finance, Review of Financial Studies, 1998–2002; Advisory Editor, Handbooks in Finance, 2007–present
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).