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Photo of Bakke, Tor-Erik

Tor-Erik Bakke

Associate Professor

Department of Finance


Building & Room:

UH 2111


601 S. Morgan St., Chicago, IL 60607

Office Phone:

(312) 996-7170

CV Link:

Tor-Erik Bakke

Related Sites:


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

Classes Taught

  • Investments
  • Multinational Corporate Finance

Selected Publications

  • Does Independent Advice to The Board Affect CEO Compensation?, (with Hamed Mahmudi), 2021, Journal of Financial and Quantitative Analysis, 56(2) 693-744.
  • Performance Peer Groups in CEO Compensation Contracts (with Hamed Mahmudi and Ashley Newton), 2020, Financial Management, 49(4) 997-1027.
  • ​”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.

Notable Honors

2016, Teaching Award, Merrick Foundation

2015, Master Teacher Award, Houston and Mary Jo Johnson

2007, Stephen L. Hawk Fellowship, University of Wisconsin-Madison

1997, 1st Prize, 1st Prize Norwegian Youth Science Competition

Licensures and Certifications

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