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Tor-Erik Bakke

Tor-Erik Bakke headshot
  • Associate Professor of Finance

University of Illinois at Chicago
2111 UH MC 168
Chicago, IL, 60607
(312) 996-2980

Personal Website


Ph.D., Finance, University of Wisconsin-Madison, 2009
B.A., Mathematics, University of Oslo, 2003
B.A., Finance and Real Estate, University of Wisconsin-Madison, 2001


Assistant Professor of Finance, University of Oklahoma, 2009-2016
Associate Professor of Finance, University of Oklahoma, 2016-2017
Associate Professor of Finance, University of Illinois at Chicago, 2017-

Classes Taught

Multinational Corporate Finance

Research & Publications

  • ​Diversification and Cash Dynamics (with Tiantian Gu), 2017, Journal of Financial Economics 3, 580-601. 
  • The Causal Effect of Option Pay on Corporate Risk Management (with Hamed Mahmudi, Chitru Fernando and Jesus Salas), 2016,  Journal of Financial Economics 120, 623-643.
  • The Real Effects of Market Liquidity: Causal Evidence from Delisting (with Toni Whited and Candace Jens), 2013, Finance Research Letters 9, 183-193.  
  • Threshold Events and Identification: A Study of Cash Shortfalls (with Toni Whited), 2012, Journal of Finance 25, 1286-1329. 
  • Which Firms Follow the Market? An Analysis of Corporate Investment Decisions (with Toni Whited), 2010, Review of Financial Studies 23, 1941-1980.

Awards & Affiliations

Spring 2016: Merrick Foundation Teaching Award
Spring 2015: Houston and Mary Jo Johnson Master Teacher Award.
Fall 2007: Stephen L. Hawk Fellowship, University of Wisconsin-Madison
1997 1st Prize Norwegian Youth Science Competition