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Bob Parrino


Department:     Finance

Additional Titles:     Lamar Savings Centennial Professor of Finance

Industry Areas:     Corporate Valuation, Fundamental Analysis, Investment Banking, Mergers and Acquisitions, Security Valuation and Analysis, Venture Capital

Research Areas:     Agency Theory, Capital Structure, Corporate Governance, Executive Compensation, Finance - Corporate, Financial Statement Analysis

Robert Parrino headshot

Dr. Parrino is the Lamar Savings Centennial Professor of 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, corporate restructuring, mergers and acquisitions, and private equity markets. He 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 was co-founder of the Financial Research Association and Founding Director of the Hicks, Muse, Tate and Furst Center for Private Equity Finance. Dr. Parrino was also President of the Financial Management Association from 2021-22 and Chair of the Department of Finance from 2014-2019.



Career Award for Outstanding Research Contributions, McCombs School of Business



McCombs School Award for Research Excellence



Fama/DFA Prize, Best Paper in Capital Markets and Asset Pricing, Journal of Financial Economics, 2nd Prize



Jensen Prize, Best Paper in Corporate Finance, Journal of Financial Economics, 2nd Prize



Financial Management Association Competitive Paper Award in Business Finance



LENS Corporate Governance Paper Competition, 3rd Place


Eliezer M. Fich, Robert Parrino, and Anh L. Tran. July 2023. When and How are Rule 10b5-1 Plans Used for Insider Stock Sales? Journal of Financial Economics 149(1): 1-26.

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.


Eliezer M. Fich, Robert Parrino, and Anh L. Tran. July 2023. When and How are Rule 10b5-1 Plans Used for Insider Stock Sales? Journal of Financial Economics 149(1): 1-26.

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.