Areas of Expertise
Corporate Finance, Corporate Governance, Mergers and acquisitions
Academic Degrees
- PhD, Purdue University, 1995
- MBA, Western Illinois University, 1991
- BS, Western Illinois University, 1990
Professional Experience
- Associate Professor of Finance, Indiana University, 2003
- Assistant Professor of Finance, Indiana University, 1997
- Visiting Assistant Professor, University of Notre Dame, 1995-1997
Awards, Honors & Certificates
- 24 Teaching Excellence Awards (see vita for full details)
- Jensen Prize, Journal of Financial Economics, 2007
- Recognized as one of the academic influencers of 2007 (Business Finance Magazine)
- Recognized as a top five newsmaker of 2006 (Workforce Management)
- Research Excellence Award, Kelley School of Business, 2004
Selected Publications
- Heron, R. A., and Lie, E. (2017). Do stock options overcome managerial risk aversion? Evidence from exercises of executive stock options. Management Science, 63(9), 3057-3071. View Full Text
- Heron, R., and Lie, E. (2015). The Effect of Poison Pill Adoptions and Court Rulings on Firm Entrenchment. Journal of Corporate Finance, 35, 286-296.
- Heron, R. A., and Lewellen, W. G. (2013). Reincorporation. In Cheng Fu Lee and Alice C. Lee (Eds.), Encyclopedia of Finance, 2nd Edition, Springer Publications.
- Heron, R. A., and Lie, E. (2009). What Fraction of Stock Option Grants to Top Executives Have Been Backdated or Manipulated? Management Science, 55(4), 513-525.
- Heron, R. A., Lie, E., and Rodgers, K. (2009). Financial Restructuring in Fresh Start Chapter 11 Reorganizations. Financial Management, 38(4), 727-745.
- Heron, R. A., and Lie, E. (2007). Does Backdating Explain the Stock Price Pattern Around Executive Stock Option Grants? Journal of Financial Economics, 83(2), 271-295.
- Heron, R. A., Lie, E., and Perry, T. (2007). On the Use (and Abuse) of Stock Option Grants. Financial Analysts Journal, 63(3), 17-27.
- Heron, R. A. and Lie, E. (2006) On the Use of Poison Pills and Defensive Payouts by Takeover Targets. Journal of Business, 79(4), 1783-1807.
- Heron, R. A., and Lie, E. (2004). A Comparison of the Motivations for and the Information Content of Different Types of Equity Offerings. Journal of Business, 77(3), 605-632.
- Carow, K., Heron, R. A., and Saxton, T. (2004). Do Early Birds Get the Returns? An Empirical Investigation of Early Mover Advantages in Acquisitions. Strategic Management Journal, 25(6), 563-585.
- Heron, R. A., and Lie, E. (2002). Operating Performance and the Method of Payment in Takeovers. Journal of Financial and Quantitative Analysis, 37(1), 137-155.
- Haushalter, G. D., Heron, R. A., and Lie, E. (2002). Price Uncertainty and Corporate Value. Journal of Corporate Finance, 8, 271-286.
- Heron, R. A., and Lewellen, W. G. (1998). An Empirical Analysis of the Reincorporation Decision. Journal of Financial and Quantitative Analysis, 33(4), 549-568.
- Carow, K. and Heron, R. A. (1998). The Interstate Banking and Branching Efficiency Act of 1994: A Wealth Event for Acquisition Targets. Journal of Banking and Finance, 22, 175-196.
Edited on August 13, 2021