Professor of Finance
Director of the Cambridge Centre for Finance (CCFin)
Director of the Cambridge Endowment for Research in Finance (CERF)
Fellow Commoner of Queens’ College
BA (University of Antwerp), MPhil, PhD (University of Cambridge)
My research interests include various aspects of corporate finance such as investment under uncertainty, mergers and acquisitions, payout policy, agency problems and the role of asymmetric information, insolvency resolution, bankruptcy, financing of public corporations, startups and partnerships.
I’m a Research Fellow of the CEPR, an Editor of the Journal of Business Finance and Accounting, an Associate Editor of the Journal of Banking and Finance, a former Editor of the Journal of Corporate Finance, and a former Associate Editor of the Review of Finance and of Financial Management. I’m a member of the Finance subject group at Cambridge Judge Business School.
Professional experience
Professor Lambrecht is a Research Fellow of the CEPR. . He is an Editor of the Journal of Business Finance and Accounting, and an Associate Editor of the Journal of Banking and Finance. He is a former Editor of the Journal of Corporate Finance, and a former Associate Editor of the Review of Finance and of Financial Management. He is also a member of the Cambridge Finance Management Board, of the advisory board of the Cambridge INET Institute, and of the Cambridge Corporate Governance Network.
Previous appointments
Prior to joining Cambridge Judge Business School Professor Lambrecht was a professor at the University of Lancaster, and a senior lecturer at the University of Cambridge. Bart Lambrecht has held visiting positions at the University of Calgary, MIT and UCLA.
Publications
Selected publications
- Chen, S. and Lambrecht, B.M. (2025) “Resolving tensions between heterogeneous investors in a startup.” Management Science, 71(3): 1865-1888 (DOI: 10.1287/mnsc.2022.01724)
- Lambrecht, B.M. and Tse, A.S.L. (2023) “Liquidation, bailout, and bail-in: insolvency resolution mechanisms and bank lending.” Journal of Financial and Quantitative Analysis, 58(1): 175-216 (DOI: 10.1017/S0022109022000813)
- Lambrecht, B.M. and Myers, S.C. (2012) “A Lintner model of payout and managerial rents.” Journal of Finance, 67(5): 1761-1810 (DOI: 10.1111/j.1540-6261.2012.01772.x)
- Lambrecht, B.M. and Myers, S.C. (2007) “A theory of takeovers and disinvestment.” Journal of Finance, 62(2): 809-845 (DOI: 10.1111/j.1540-6261.2007.01224.x) (Winner of an Emerald Citation of Excellence from Emerald Management Reviews)
- Lambrecht, B.M. (2004) “The timing and terms of mergers motivated by economies of scale.” Journal of Financial Economics, 72(1): 41-62 (DOI: 10.1016/j.jfineco.2003.09.002)
- Lambrecht, B.M. (2001) “The impact of debt financing on entry and exit in a duopoly.” Review of Financial Studies, 14(3): 765-804
Journal articles
- Chen, S. and Lambrecht, B.M. (2025) “Resolving tensions between heterogeneous investors in a startup.” Management Science, 71(3): 1865-1888 (DOI: 10.1287/mnsc.2022.01724)
- Lambrecht, B.M. and Tse, A.S.L. (2023) “Liquidation, bailout, and bail-in: insolvency resolution mechanisms and bank lending.” Journal of Financial and Quantitative Analysis, 58(1): 175-216 (DOI: 10.1017/S0022109022000813)
- Chen, S. and Lambrecht, B.M. (2021) “Do capital structure models square with the dynamics of payout?” Annual Review of Financial Economics, 13: 271-299 (DOI: 10.1146/annurev-financial-010421-085556)
- Lambrecht, B.M. (2017) “Real options in finance.” Journal of Banking and Finance, 81: 166-171 (DOI: 10.1016/j.jbankfin.2017.03.006)
- Lambrecht, B.M. and Myers, S.C. (2017) “The dynamics of investment, payout and debt.” Review of Financial Studies, 30(11): 3759–3800 (DOI: 10.1093/rfs/hhx081) (also available online via the SSRN)
- Lambrecht, B.M. and Myers, S.C. (2016) “Agency dynamics in corporate finance.” Annual Review of Financial Economics, 8: 53-80 (DOI: 10.1146/annurev-financial-121415-032937)
- Lambrecht, B.M., Pawlina, G. and Teixeira, J.C.A. (2016) “Making, buying, and concurrent sourcing: implications for operating leverage and stock beta.” Review of Finance, 20(3): 1013-1043 (DOI: 10.1093/rof/rfv027)
- Acharya, V.V. and Lambrecht, B.M. (2015) “A theory of income smoothing when insiders know more than outsiders.” Review of Financial Studies, 28(9): 2534-2574 (DOI: 10.1093/rfs/hhv026)
- Lambrecht, B.M. and Pawlina, G. (2013) “A theory of net debt and transferable human capital.” Review of Finance, 17(1): 321-368
- Lambrecht, B.M. and Myers, S.C. (2012) “A Lintner model of payout and managerial rents.” Journal of Finance, 67(5): 1761-1810 (DOI: 10.1111/j.1540-6261.2012.01772.x)
Book chapters
- Lambrecht, B.M. (2000) “Strategic sequential investments and sleeping patents.” In Brennan, M.J. and Trigeorgis, L. (eds.): Project flexibility, agency, and competition: new developments in the theory and application of real options. New York: Oxford University Press, pp.297-323
Awards and honours
- Cambridge Judge Business School Teaching Award, 2014
- MBA Teacher of the Year Award, Lancaster University Management School, 2011
- Emerald Management Reviews’ Emerald Citation of Excellence for the paper “A Theory of Takeovers and Disinvestment”, published in the Journal of Finance (with Stewart Myers), 2007
News and insights
Cambridge Judge Business School is delighted to announce that Professor Bart Lambrecht, Professor of Finance at Cambridge Judge Business School, has been awarded the 2024 Distinguished Academic Award by the British Accounting and Finance Association (BAFA). The BAFA Distinguished Academic Award is presented annually to academics who have made a substantial contribution to the academic accounting and finance community in the UK.
The 2008-2010 financial crisis and the COVID-19 (coronavirus) pandemic have highlighted the importance of an orderly insolvency resolution mechanism (hereafter IRM).
We've heard all the buzz phrases, ranging from 'peer-to-peer lending' to 'cryptocurrencies'. But behind the hype, what exactly is alternative finance, and what are the benefits and risk? In this episode, joining podcast series host Michael Kitson, University Senior Lecturer in International Macroeconomics at Cambridge Judge Business School, are Robert Wardrop, co-founder of the Cambridge Centre for Alternative Finance; Stelios Kavadias, Margaret Thatcher Professor of Enterprise Studies in Innovation and Growth at Cambridge Judge, and Bart Lambrecht, Professor of Finance at Cambridge Judge. This is the seventh in a series of “Cambridge Judge Business Debate” podcasts featuring faculty and others associated with Cambridge Judge Business School and the broader Cambridge community. This latest podcast focuses on the topic of alternative finance, which includes cryptocurrencies such as bitcoin and also new routes for lending and borrowing that originate outside the traditional banking system. What is alternative finance? Michael Kitson: “Finance is the main lubricator of modern finance, but the financial sector itself is going through a period of rapid change – awash with a confusing range of new products and technologies such as cryptocurrencies, crowdfunding and peer-to-peer lending. So just what is ‘alternative finance'”? Robert Wardrop: “What it isn’t is private…