Faculty Directory

Jarrad Harford

 

Office: 571 PACCAR Hall
Phone: 206-543-4796
Fax: 206-543-7472
Email: jarrad(at)uw.edu

Foster School of Business
University of Washington
Box: 353226
Seattle, WA 98195-3226

Jarrad Harford

Professor of Finance
Chair of the Department of Finance and Business Economics
Paul Pigott-PACCAR Professor of Finance

Education

PhD University of Rochester (1998)
MS University of Rochester (1996)
BS Pennsylvania State University (1993)

Academic Expertise

business valuation
corporate finance
corporate governance
dividend and payout policy; stock splits
mergers and acquisitions
private equity

Current Research

"Mergers that Matter: The Value Impact of Economic Links",
"Financial Buyers vs. Strategic Buyers",
"Do Analysts Matter for Governance? Evidence from Natural Experiments",
"Corporate Financial Policies in Misvalued Credit Markets"

Positions Held

At the University of Washington since 2001
Assistant Professor of Finance, University of Oregon, 1997–2001

Selected Publications

  1. Precautionary Savings with Risky Assets: When Cash is not Cash
    Journal Article: Harford, J., Duchin, R., Gilbert, T., & Hrdlicka, C., (forthcoming). Journal of Finance,
  2. The Real Effects of Uncertainty on Merger Activity
    Journal Article: Harford, J., Bhagwat, V. & Dam, R., (forthcoming). Review of Financial Studies,
  3. Bonus-Driven Repurchases
    Journal Article: Cheng, Y., Harford, J., & Zhang, T., (2015). Journal of Financial and Quantitative Analysis, Vol. 50(3), pp. 447-475.
  4. Do Analysts Matter for Governance? Evidence from Natural Experiments
    Journal Article: Chen, T., Harford, J., & Lin, C., (2015). Journal of Financial Economics, Vol. 115(2), pp. 383-410.
  5. Motivated Monitors: The Importance of Institutional Investors Portfolio Weights
    Journal Article: Fich, E., Harford, J., & Tran, R. A., (2015). Journal of Financial Economics, Vol. 118(1), pp. 21-48.
  6. Bond Market Access and Investment
    Journal Article: Harford, J., & Uysal, V., (2014). Journal of Financial Economics, Vol. 112(2), pp. 147-163.
  7. Do Private Equity Returns Result from Wealth Transfers and Short-Termism? Evidence from a Comprehensive Sample of Large Buyouts
    Journal Article: Harford, J., & Kolasinski, A., (2014). Management Science, Vol. 60(4), pp. 888-902.
  8. Financial Flexibility, Risk Management, and Payout Choice
    Journal Article: Adams Bonaimé, A., Harford, J., & Watson Hankins, K., (2014). The Review of Financial Studies, Vol. 27(4), pp. 1074-1101.
  9. Refinancing Risk and Cash Holdings
    Journal Article: Harford, J., Klasa, S., & Maxwell, W., (2014). Journal of Finance, Vol. 69(3), pp. 975-1012.
  10. The Importance of Industry Links in Merger Waves
    Journal Article: Ahern, K., & Harford, J., (2014). Journal of Finance, Vol. 69(2), pp. 527-576.
  11. Determinants of Corporate Cash Policy: Insights from Private Firms
    Journal Article: Gao, H., Harford, J., & Li, K., (2013). Journal of Financial Economics, Vol. 109(3), pp. 623-639.
  12. Does the Director Labor Market Offer Ex Post Settling-up for CEOs? The Case of Acquisitions
    Journal Article: Harford, J., & Schonlau, R., (2013). Journal of Financial Economics, Vol. 110(1), pp. 18-36.
  13. CEO Pay Cuts and Forced Turnover: Their Causes and Consequences
    Journal Article: Gao, H., Harford, J., & Li, K., (2012). Journal of Corporate Finance, Vol. 18(2), pp. 291-310.
  14. The Sources of Value Destruction in Acquisitions by Entrenched Managers
    Journal Article: Harford, J., Humphery, M., & Powell, R., (2012). Journal of Financial Economics, Vol. 106(2), pp. 247-261.
  15. Institutional Cross-holdings and their Effect on Acquisition Decisions
    Journal Article: Harford, J., Jenter, D., & Li, K., (2011). Journal of Financial Economics, Vol. 99(1), pp. 27-39.
  16. Do Firms Have Leverage Targets? Evidence from Acquisitions
    Journal Article: Harford, J., Klasa S., & Walcott, N., (2009). Journal of Financial Economics, Vol. 93(1), pp. 1-14.
  17. Corporate Governance and Firm Cash Holdings in the U.S.
    Journal Article: Harford, J., Mansi, S., & Maxwell, W., (2008). Journal of Financial Economics, Vol. 87(3), pp. 535-555.
  18. Information Asymmetry, Information Dispersion, and the Effect of Regulation FD on the Cost of Capital
    Journal Article: Duarte, J., Han, X., Harford, J., & Young, L., (2008). Journal of Financial Economics, Vol. 87(1), pp. 24-44.
  19. Decoupling CEO Wealth and Firm Performance: The Case of Acquiring CEOs
    Journal Article: Harford, J., & Li, K., (2007). Journal of Finance, Vol. 62(2), pp. 917-949.
  20. Monitoring: Which Institutions Matter?
    Journal Article: Harford, J., (2007). Journal of Financial Economics, Vol. 86(2), pp. 279-305.
  21. Correlated Order Flow: Pervasiveness, Sources, and Pricing Effects
    Journal Article: Harford, J., & Kaul, A., (2005). Journal of Financial and Quantitative Analysis, Vol. 40(1), pp. 29-55.
  22. What Drives Merger Waves
    Journal Article: Harford, J., (2005). Journal of Financial Economics, Vol. 77(3), pp. 529-560.
  23. Takeover Bids and Target Directors’ Incentives: Retention, Experience, and Settling-up
    Journal Article: Harford, J., (2003). Journal of Financial Economics, Vol. 69(1), pp. 51-83.
  24. Managerial Opportunism? Evidence from Directors’ and Officers’ Insurance Purchases
    Journal Article: Chalmers, J., Dann, L., Harford, J., (2002). Journal of Finance, Vol. 57(2), pp. 609-636.
  25. The Cash Flow Permanence and Information Content of Dividend Increases vs. Repurchases
    Journal Article: Guay, W., & Harford, J., (2000). Journal of Financial Economics, Vol. 57(3), pp. 385-415.
  26. Corporate Cash Reserves and Acquisitions
    Journal Article: Harford, J., (1999). Journal of Finance, Vol. 54(6), pp. 1969-1997.

Honors and Awards

Undergraduate Professor of the Year in Finance, 2005, 2010, 2012 & 2016
Interfraternity / Panhellenic Council Teaching Excellence Award, 2011, & 2013
William A. and Helen I. Fowler Endowment for Special Achievement in Finance, 2009, & 2013
Dean's Faculty Research Award, 2008
ISMBA Excellence in Teaching Award, 2006
Wells Fargo Faculty Award for Undergraduate Teaching, 2005
Dean's Junior Faculty Research Award, 2004