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

• Awaysheh, A., Heron, R. A., Perry, T., and Wilson, J. I. (2020). On the Relation Between CSR and Financial Performance. Strategic Management Journal, 41(6), 965-987 (lead article).
• 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 November 11, 2024