DavidÌýIkenberry

  • Professor
  • FINANCE
  • CENTER FOR RESEARCH ON CONSUMER FINANCIAL DECISION MAKING
Address

Koelbel - 469E

Biography

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Education

PhD, Finance, University of Illinois at Urbana‑Champaign, 1990

MM, Finance, Northwestern University, Kellogg Graduate School of Management, 1985

BS, Mineral Economics, The Pennsylvania State University, 1983

David L. Ikenberry is a distinguished academic leader, researcher, and teacher known for his contributions to higher education and the fields of corporate and behavioral finance. He has held several senior leadership roles, including serving as Dean of the Leeds School of Business from 2011 to 2016, where he led a comprehensive strategic transformation that expanded graduate offerings, revitalized curricula, increased faculty research prominence, and achieved record levels of alumni engagement and philanthropy.
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His research explores how markets respond to major corporate events, including stock repurchases, payout policy, and long‑horizon returns. His research is widely cited in leading academic journals and frequently referenced by business media. Recent research reexamines core questions in corporate finance.Ìý
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Renowned for his classroom excellence, Dave Ikenberry has received numerous teaching awards and national recognition for instructional innovation. He regularly advises corporations, investment professionals, and nonprofit boards, and is co-founder and co‑host of Deans Counsel, a podcast on academic leadership.Ìý
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Research

Research Interests

  • Corporate Finance
  • Behavioral Finance

Selected Publications

  • Excess Capacity, Marginal q and Corporate Investment, with Gustavo Grullon, Journal of Finance, 80, no. 3, June 2025, 1533-1592.
  • Reappearing Dividends, with B. Julio, Journal of Applied Corporate Finance, 16, no. 4, 2004, 89-100
  • Underreaction to Self‑Selected News Events: The Case of Stock Splits, with S. Ramnath, Review of Financial Studies, 15, no. 2, 2002, 489-526.
  • Stock Repurchases in Canada: Performance and Strategic Trading, with J. Lakonishok & T. Vermaelen, Journal of Finance, 13, no. 1, October 2000, 2373-2398.
  • What Do We Know About Share Repurchases?, with G. Grullon, Journal of Applied Corporate Finance, Spring 2000, 31-51, (abstract in the CFA Digest, February 2000, vol. 31, no. 1).
  • Why Active Fund Managers Often Underperform the S&P 500, with R. Shockley & K. Womack, Journal of Private Portfolio Management, 1, no. 1 13-26, Spring 1998.
  • The Option to Repurchase Stock, with T. Vermaelen, Financial Management, 25, no. 4, Winter 1996, 9-24.
  • Market Underreaction to Open Market Share Repurchases, with J. Lakonishok & T. Vermaelen, Journal of Financial Economics, 39, October 1995, 181-208.
  • The Individual Investor and the Weekend Effect, with A. Abraham, Journal of Financial and Quantitative Analysis, 29, no. 2, June 1994, 263-277.
  • Corporate Governance Through the Proxy Contest: Evidence and Implication, with J. Lakonishok, Journal of Business, 66, no. 3, July 1993, 405-435.

Working Papers

  • Does Equity Issuance Really Finance Corporate Growth?, with Gustavo Grullon, 2026.
  • Do Buybacks Cause Harm? Evidence from Financially Distressed Firms, with Theo Vermaelen and Guanqun Zhou, 2026.

Service

  • Member, Dean’s Review Committee, CU ¶¶Òõ´«Ã½ÔÚÏß School of Library, 2024–present
  • Member, CU ¶¶Òõ´«Ã½ÔÚÏß Academic Review and Planning Advisory Committee, 2021–2025
  • Executive Board Member, Financial Management Association, Academic Programs, 2007–2010.
  • Research Foundation Advisory Board Member, Association for Investment Management and Research, 2000–2005.
  • Editorial Roles:
    • Associate Editor, Financial Management, 1997–1999, 2009–2010.
    • Founding Associate Editor, Review of Behavioral Finance, 2007–2010.
    • Associate Editor, Advances in Investment Analysis and Portfolio Management, 1999–2004.
  • °ä´Ç‑F´Ç³Ü²Ô»å±ð°ù, Deans Counsel Podcast, 2023–present (75 episodes as of Jan 2026).
  • Program Committee Member, Northern Finance Association Meetings (2022).
  • Program Committee Member, Western Finance Association Meetings (2000–2010).
  • Director, First Busey Corporation (Nasdaq: BUSE), 2004–2011.
  • Director, Board of Trustees, Carle Foundation Hospital, 2009–2011.Ìý

Teaching

Dave has been recognized as an accomplished teacher. He teaches investments and introductory finance to all types of students ranging from executives and MBA students to Business Minor students. While at Rice, he was awarded the business school’s most valued award for teaching in1996, 1999 and 2002. In 1997 and again in 2002, BusinessWeek magazine named him among the best instructors in the U.S. At Illinois, he was awarded Teacher of the Year for the Executive MBA Program in 2009.