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Andrew MacKinlay

Assistant Professor
Andrew Mackinlay
3062 Pamplin (0221)
880 West Campus Drive
Blacksburg, VA 24061


Dr. MacKinlay’s research areas include financial intermediation and corporate finance. Specific research focuses on corporate capital structure decisions and the effects of financial intermediation on corporate activity. Dr. MacKinlay is the recipient of the Marshall Blume Prize in Financial Research awarded by awarded by the Jacobs Levy Equity Management Center for Quantitative Financial Research at the Wharton School, the Financial Research Association’s Michael J. Barclay Award, and the Douglas D. Evanoff Best Paper Award at the Chicago Financial Institutions Conference.

Education & Certification

Ph.D, Finance, The Wharton School, University of Pennsylvania, 2012

M.A., Finance, The Wharton School, University of Pennsylvania, 2012

B.A., Liberal Arts, St. John's College, Annapolis, MD, 2006

Professional Achievements

Dr. MacKinlay has served as an ad hoc referee for various journals such as the Review of Financial Studies, the Journal of Financial and Quantitative Analysis, and the Review of Corporate Finance Studies. Dr. MacKinlay has served on the program committee of multiple academic conferences and is a member of the American Finance Association, Western Finance Association, European Finance Association, and Northern Finance Association.


Financial intermediation Corporate finance

Teaching Experience

Dr. MacKinlay has taught courses in corporate finance focusing on capital structure, payout policy, and real options for firms. Dr. MacKinlay has received multiple teaching awards.

Business Experience

Prior to joining Virginia Tech, Dr. MacKinlay served as an Assistant Professor of Finance at Southern Methodist University, Cox School of Business.