University of Texas at Austin
McCombs School of Business McCombs School of Business

Bob Parrino

Professor, HMTF Center Director

Department: Finance

Additional Titles: Lamar Savings Centennial Professor of Finance
Director, Hicks,Muse,Tate & Furst Center For Private Equity Finance

Contact Information

CBA 6.238

Biography Dr. Parrino is the Lamar Savings Centennial Professor of Finance and Director of the Hicks, Muse, Tate and Furst Center for Private Equity Finance. He has been on the finance faculty at the McCombs school since 1992 where he teaches courses in degree and executive education programs, as well as customized courses for executives in financial and non-financial corporations. Dr. Parrino’s research includes work on corporate governance, corporate financial policies, private equity, corporate restructuring, and mergers and acquisitions, as well as research on private equity markets. He is Associate Editor of the Journal of Corporate Finance and has won numerous awards for teaching and research. Dr. Parrino holds a B.S. in chemical engineering from Lehigh University, an MBA degree from The College of William and Mary, and M.S. and Ph.D. degrees in applied economics and finance, respectively, from University of Rochester, as well as the Chartered Financial Analyst (CFA) designation. He is co-founder of the Financial Research Association, and was Founding Director of the Hicks, Muse, Tate and Furst Center for Private Equity Finance.
Nicholas Crain, Robert Parrino, and Raji Srinivasan. 2021. Uncertainty, Prospectus Content, and the Pricing of Initial Public Offerings. Journal of Empirical Finance 64, 160-182.
Robert Parrino, D. S. Kidwell, and T. W. Bates. 2015. Fundamentals of Corporate Finance, 3rd ed. John Wiley & Sons.
Robert Parrino, D. S. Kidwell, and T. W. Bates. 2014. Essentials of Corporate Finance. John Wiley & Sons.
Michael G. Hertzel, Mark R. Huson, and Robert Parrino. 2012. Public Market Staging: The Timing of Capital Infusions in Newly Public Firms. Journal of Financial Economics 106(1), 72-90.
Robert Parrino and M. Huson. 2010. The Effects of Management Turnover on Firm Performance, in Corporate Governance, H. Kent Baker and Ronald Anderson, eds. John Wiley & Sons.
Stuart L. Gillan, Jay C. Hartzell, and Robert Parrino. 2009. Explicit versus Implicit Contracts: Evidence from CEO Employment Agreements. Journal of Finance 64, 1629-1655.
Borokhovich, K, Brunarski, K, Hayman, Y, and Robert Parrino. 2006. Variation in the Monitoring Incentives of Outside Stockholders. Journal of Law and Economics 49, 651-680.
Nengjiu Ju, Robert Parrino, Poteshman, Allen M, and Weisbach, Michael S. 2005. Horses and Rabbits? Trade-Off Theory and Optimal Capital Structure. Journal of Finance and Quantitative Analysis 40, 259-281.
Robert Parrino, Poteshman, Allen M, and Weisbach, Michael S. 2005. Measuring Investment Distortions when Risk-Averse Managers Decide Whether to Undertake Risky Projects. Financial Management 34, 21-60.
M. Huson, P. Malatesta, and Robert Parrino. 2003. Managerial Succession and Firm Performance. Journal of Financial Economics.
Robert Parrino, Richard W. Sias, and Laura T. Starks. 2003. Voting With Their Feet: Institutional Ownership Changes Around Forced CEO Turnover. Journal of Financial Economics 68, 3-46.
Charles Hadlock, D. Scott Lee, and Robert Parrino. 2002. CEO Careers in Regulated Environments: Evidence for Gas and Electric Utilities. Journal of Law and Economics 45, 535-563.
Robert Parrino. 2002. Rewrapping the Package: Managerial Incentives and Corporate Governance.
Mark Huson, Robert Parrino, and Laura T. Starks. 2001. Internal Monitoring Mechanisms and CEO Turnover: A Long-term Perspective. Journal of Finance 56, 2265-2297.
Robert Parrino and Michael Weisbach. 1999. Measuring Investment Distortions Arising from Stockholder-Bondholder Conflicts. Journal of Financial Economics 53, 3-42.
John Byrd, Robert Parrino, and Gunnar Pritsch. 1998. Stockholder-Manager Conflicts and Firm Value. Financial Analysts Journal 54, 14-30.
Ken Borokhovich, Kelly Brunarski, and Robert Parrino. 1997. CEO Contracting and Antitakeover Amendments. Journal of Finance 52, 1495-1517.
Robert Parrino. 1997. CEO Turnover and Outside Succession: A Cross-Sectional Analysis. Journal of Financial Economics 46, 165-197.
Robert Parrino. 1997. Spin-offs and Wealth Transfers: The Marriott Case. Journal of Financial Economics 43, 241-274.
Ken Borokhovich, Robert Parrino, and Teresa Trapani. 1996. Outside Directors and CEO Selection. Journal of Financial and Quantitative Analysis 31, 337-355.
John Martin and Robert Parrino. 1996. Using Directors as Consultants. Directors and Boards 20, 32-35.
Robert Vandell and Robert Parrino. 1986. A Purposeful Stride Down Wall Street. The Journal of Portfolio Management 12, 31-39.
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Academic Leadership and Awards
Professional Awards
Career Award for Outstanding Research Contributions, McCombs School of Business2013
McCombs School Award for Research Excellence2006
Fama/DFA Prize, Best Paper in Capital Markets and Asset Pricing, Journal of Financial Economics, 2nd Prize2003
Jensen Prize, Best Paper in Corporate Finance, Journal of Financial Economics, 2nd Prize1999
Financial Management Association Competitive Paper Award in Business Finance1998
LENS Corporate Governance Paper Competition, 3rd Place1996
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Teaching Awards
Faculty Honor Roll. Awarded by MBA students for teaching in an elective course. 2000, and 2002-10 inclusive.2010
CBA Foundation Advisory Council Award for Teaching Innovation2002
Fawn and Vijay Mahajan Teaching Excellence Award2001
Awarded “The Outstanding Professor” Award in the Texas Executive MBA Program2000
Joe D. Beasley Award for Teaching Excellence1999
Jack G. Taylor Teaching Excellence Award1996
Texas Excellence Teaching Award by the UT Ex-Students Association1996
Trammell/CBA Foundation Teaching Award for Assistant Professors1994
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