Curriculum Vitae


  • Graduate School of Management, University of Rochester, NY, PhD (Finance and Economics), 1981
  • Graduate School of Management, University of Rochester, NY, MSc (Finance and Economics), 1980
  • Norwegian School of Economics and Business Administration, MSc (Economics and Finance), 1977
  • Norwegian School of Economics and Business Administration, BSc (Economics), 1975


  • Tuck School of Business at Dartmouth, USA: 1998–present, Tuck Centennial Chair in Finance, Founding Director, Lindenauer Center for Corporate Governance
  • Norwegian School of Economics and Business Administration, Norway: 1990–2011, Adjunct Professor of Finance
  • Stockholm School of Economics, Sweden: 1996-98, Gösta Olson Chair in Finance
  • Norwegian School of Management, 1993-94, Finn Øyen Chair in Finance (on leave from UBC)
  • University of British Columbia, Canada: 1981-96, Professor of Finance 1992-96, Associate Professor of Finance (with tenure) 1987-92, Assistant Professor of Finance 1981-87


  • Sloan School of Management, MIT, 2001-02 (taught PhD course)
  • Owen Graduate School of Management, Vanderbilt University, winter 1997
  • Norwegian School of Management (BI), 1993-94
  • Norwegian School of Economics (NHH), Professor II (adjunct) 1990 — (taught PhD courses)
  • INSEAD, spring 1987
  • Graduate School of Management, UCLA, 1985-86


  • 2022 Review of Finance finalist for the Pagano-Zechner Award for Best Non-Investment Paper;
  • 2011: Honorary Doctoral Degree (Docteur Honoris Causa), awarded by the Norwegian School of Economics.
  • 2012: Best Conference Paper, 2012 European Financial Management Association Meeting, “How Costly is Corporate Bankruptcy for Top Executives?” (with Karin S. Thorburn and Wei Wang).
  • Best Paper Award, Journal of Corporate Finance, 2009, “Creditor Financing and Overbidding in Bankruptcy Auctions” (with Karin S. Thorburn).
  • Best Conference Paper Runner-up Award, 2006 meetings of the European Finance Association: “Merger Negotiations and the Toehold Puzzle” (with Sandra Betton and Karin S. Thorburn).
  • All Star Paper, Journal of Financial Economics, 2000, "Seasoned Public Offerings: Resolution of the 'New Issues Puzzle'," (with Ronald W. Masulis and Øyvind Norli).
  • All Star Paper, Journal of Financial Economics, 1986, "Valuation Effects of Corporate Debt Offerings."
  • All Star Paper, Journal of Financial Economics,1983, "Horizontal Merger, Collusion, and Stockholder Wealth."
  • The 2001 Barclays Global Investors/ Michael Brennan Prize for Best P in the Review of Financial Studies, 2000: "Toeholds, Bid Jumps, and Expected Payoffs in Takeovers," (with Sandra Betton).
  • Smith-Breeden Prize Nominee for Best Paper in the Journal of Finance, 1999, "The Conditional Performance of Insider Trades," (with David Smith).
  • Harry G. Johnson Prize for Best Paper in the Canadian Journal of Economics, 1986, "Mergers and the Market for Corporate Control: The Canadian Evidence."


  • Visiting Research Fellow, University of Adelaide, 2011-2012.
  • Visiting Research Fellow, London Business School, 2012.
  • Batterymarch Fellowship (awarded in a worldwide competition among untenured financial economists under the age of 40), 1987.
  • Research Fellow, Center for Corporate Governance, Drexel University, 2009-present.
  • Research Associate, European Corporate Governance Institute (ECGI), 2002-present.
  • Research Fellow of the Center For Economic Policy Research (CEPR), London, 1999-2005.
  • Doctoral Fellowship, University of Rochester, 1977-81.
  • Doctoral Fellowship, Norwegian School of Economics and Business Administration, 1977-81.
  • Honorary Doctoral Degree (Docteur Honoris Causa), awarded by the Norwegian School of Economics and Business Administration (2011).
  • Congressional Testimony: "The Government as Active Shareholder" given to The Congressional Domestic Policy Subcommittee of The Oversight and Governance Reform Committee, U.S. Congress, December 16, 2009.
  • Honorary Master of Arts, Dartmouth College, 2000.
  • Research Scholar, School of Business, Indian University, October 1996.
  • Prize for Excellence in Research, awarded by the Faculty of Commerce, University of British Columbia, 1986.


  • Norwegian School of Management: 2011
  • Norwegian School of Economics: 2011
  • Norwegian National Research Council: annually, 1992-2001.
  • Norwegian Ministry of Finance: 1991, 1997.
  • Swedish Ministry of Justice: 1999-2002.
  • Social Sciences and Humanities Research Council of Canada: 1984-87, 1989-92.
  • Government of British Columbia: 1984, 1987-90.
  • Government of Canada (Bureau of Competition Policy): 1984, 1988.
  • U.S. Federal Trade Commission: 1984.


  • Founding co-editor, European Finance Review (the journal of the European Finance Association), 1997-2003 (journal renamed the Review of Finance in 2003).
  • Co-editor, Journal of Financial Economics, Volume 69, issue 1 (Tuck Symposium on Corporate Governance), 2003.
  • Advisory Editor
    Journal of Economics and Business, 1987-96
    Handbooks in Financial Economics (World Scientific Publishers), 2009–present
    Handbooks in Finance (North-Holland/Elsevier Handbook Series), 2007–present
  • Associate Editor (current)
    2006-Present: European Financial Management
    1998-Present: Finance India
    1994-Present: Journal of Corporate Finance
  • Associate Editor (past)
    2003-2010: Review of Finance
    2003-2015: Finance Research Letters
    1994-2016: Journal of Empirical Finance
    1992-2001: Review of Financial Studies
    1993-2000: Journal of Financial Research
    1990-1997: Financial Management
    1988-1996: Canadian Investment Review
    1987-1996: Journal of Economics and Business

Academic Associations

  • Scientific Board, European Center for Corporate Control Studies, (France), 2008-present.
  • Director, Financial Management Association, 2007-present.
  • Member, Nominating Committee, American Finance Association, 2000.
  • Member, Nominating Committee, Western Finance Association, 2001.
  • Director, European Finance Association, 1996-99.
  • Member, Annual Program Committee of: Western Finance Association, European Finance Association, Financial Management Association, European Financial Management Association, Utah Winter Finance Conference.