John C Adams

Associate Professor, Finance and Real Estate

Last Updated: January 7, 2021

about me

Research Interests

Corporate governance issues in the investment management industry, research methods, empirical asset pricing, investor behavior

Teaching Interests

Investments research seminars and corporate finance courses with an emphasis on implementation, case
analysis, governance, and risk management.

Biography

John Adams is an Associate Professor of Finance at The University of Texas at Arlington. He has a bachelor’s degree in industrial engineering from Texas A&M University and earned his Ph.D. in finance from Texas Tech University. His research falls into two main areas, investment management and research methods. He has published in Critical Finance Review, Financial Management, Journal of Banking and Finance, Journal of Financial Research, and the Review of Financial Studies. His research has been featured numerous times in the Wall Street Journal, the Financial Times, Barron’s, and several investment trade journals. He teaches a doctoral seminar in investments and undergraduate business finance. John is active in several organizations including the Financial Management, Southern Finance, and Southwestern Finance Associations. John has also served as a director and vice president for the Southwestern Finance Association.

Education

- 2005 PhD in Business Administration - Finance
  Texas Tech University, 2005
- 2001 MBA in Economics and Finance
  West Texas A&M University, Canyon, Texas, 2001
- 1985 BA in Industrial. Engineering
  Texas A&M University College Station, 1985

Appointments

- Sept 2016 to Present Associate Professor
  University of Texas at Arlington
- Sept 2016 to Present Associate Professor
  University of Texas at Arlington
- Sept 2016 to Present Associate Professor
  Finance and Real Estate, University of Texas at Arlington
- Aug 2010 to Sept 2016 Assistant Professor
  University of Texas at Arlington
- Aug 2010 to Sept 2016 Assistant Professor
  University of Texas at Arlington
- Aug 2010 to Sept 2016 Assistant Professor
  University of Texas at Arlington
- Aug 2007 to Aug 2010 Assistant Professor
  University of North Florida
- Aug 2007 to Aug 2010 Assistant Professor
  University of North Florida
- Aug 2007 to Aug 2010 Assistant Professor
  University of North Florida
- Aug 2005 to July 2007 Visiting Assistant Professor
  University of South Florida
- Aug 2005 to July 2007 Visiting Assistant Professor
  University of South Florida
- Aug 2003 to July 2007 Visiting Assistant Professor
  University of South Florida

Memberships

- 2019 to 2020 Southwestern Finance Association
- 2015 to 2018 Southern Finance Association

Awards and Honors

- Dec 2019 Best Paper sponsored by Financial Management
- Jul 2019 Best Paper sponsored by Financial Management Journal
- Apr 2019 Distinguished Research Publication Award for 2018 sponsored by College of Business, UTA
- Dec 2018 Nominated for Best Paper Award sponsored by European Financial Management
- Dec 2018 Nominated for Best Paper Award sponsored by Financial Management Association
- Oct 2018 Best Paper - Finalist sponsored by Financial Management Association
- Jul 2018 Best Paper - Nominated sponsored by Financial Management Association - Europe
- Dec 2013 Recognized Professor sponsored by Phi Kappa Phi
- Dec 2013 Recognized Professor sponsored by Phi Kappa Phi, University of Texas Arlington
- Oct 2010 Best Paper - Nominated sponsored by Financial Management Association
- Dec 2009 Distinguished Paper Award sponsored by Southwestern Finance Association
- Mar 2009 Distinguished Paper Award sponsored by Southwestern Finance Association

News Articles

- July 2020 Wall Street Journal
  Few investment strategies aimed at Main Street are as baffling as the seemingly simple “market-neutral.” The term, affixed by the funds industry to dozens of mutual and exchange-traded funds, imparts a safe, Swiss like feel. It suggests a strategy closely linked to market performance, like index funds offer. But there is little uniformity among these products, and that is reflected in a disparity in their performance as well.
- July 2020
  Wall Street Journal: ‘Market Neutral’ Can Be a Positively Baffling Label
- Sept 2018
  US News and World Report: 6 Things to Know About Faith-Based Investing
- June 2015
  Financial Times - Ignites
  
  Sunlight May Push Sec-Lending Fee Splits to 'Normalize'. By Beagan Wilcox
- June 2015
  Ignites (Financial Times): New Rule Could Quash Sec Lending.
- June 2015
  Ignites (Financial Times): Sunlight May Push Sec-Lending Fee Splits to 'Normalize'.
- Mar 2015
  Pensions and Investments: Money managers cut their securities lending profits - Clients get a bigger cut of the pie amid lawsuits and probe by the SEC.
- Aug 2014 WalletHub
  John Adams, assistant professor of finance at UT Arlington, was included in WalletHub’s 2014 list of Best and Worst Cities for First-Time Home Buyers. He gave advice on how to choose a home and when to buy, saying “real estate transaction costs are high so don't buy unless you have the financial and career stability that will allow you to stay in the home for a few years.
- Mar 2013 AllAboutAlpha.com
  AllAboutAlpha.com mentioned new research by John Adams, UT Arlington assistant professor of finance/real estate, in an article about mutual funds. The research found that the boards of directors of mutual funds serve a valuable role when those mutual funds have securities-lending operations. The research involved faculty from Virginia Tech and the University of Colorado at Denver.
- Feb 2013 Wall Street Journal
  When funds lend out securities do investors get a fair share? By Ian Salisbury
- Feb 2013 Financial Times
- Feb 2013
  Financial Times: US pension funds sue BlackRock.
- Feb 2013
  MarketWatch (Wall Street Journal): BlackRock lawsuit shines lights on hidden fund fees.
- Feb 2013
  Wall Street Journal: When funds lend out securities do investors get a fair share?
- Jan 2013
  Fund Director Intelligence: iShares Trust sued over securities lending program.
- Mar 2012 The Wall Street Journal
  The Wall Street Journal interviewed John Adams, assistant professor of finance/real estate at UT Arlington, about a new study that finds that some funds earn drastically less than others on their securities-lending operations even when the funds themselves are similar. One possibility: "The people managing your money may sometimes be managing it more to benefit themselves than to benefit you," said Adams, one of the study's authors.
- Mar 2012
  Barron’s: Pssst! Wanna Borrow Some Shares?
- Dec 2011
  BoardIQ (Financial Times): Board size, diversity, pay impact securities lending: study.
- Nov 2011
  Global Investors
  
  Securities lending returns are “dramatically lower” when funds use lending agents affiliated with their sponsors, according to a new report co-authored by John Adams, assistant professor of finance at UT Arlington, Global Investor reported. An affiliated agent is where the investment company that manages the fund is under the same umbrella as that fund’s lending agent. Here, returns tend to be smaller and there are conflicts of interests, Adams and his co-authors wrote.
- Nov 2011
  Fund Director Intelligence: Boards need to understand, monitor securities lending.
- Nov 2011
  Global Investor: Report: Affiliated agent lender return lower
- Oct 2011 The Wall Street Journal
  When mutual funds and exchange traded funds lend stock to traders, it's not always clear who gains in the transactions, The Wall Street Journal's Intelligent Investor column reported. The column quoted John Adams, an assistant professor of finance at UT Arlington, and a study he did that found some funds earn dramatically less than others on their stock-lending operations even when the funds themselves are similar. "The people managing your money may sometimes be managing it more to benefit themselves than to benefit you," Adams said
- Sept 2011
  Wall Street Journal: When funds lend stock, who gains?
- Oct 2010
  Ignites (Financial Times): Do Portfolio Manager of Private Firms have Better Job Security?

Support & Funding

This data is entered manually by the author of the profile and may duplicate data in the Sponsored Projects section.

- Sept 2019 to Aug 2020 Costs and Consequences of Implicit Racial Bias in the Financial Services Industry sponsored by University of Texas at Arlington - $20000
  (Funded)

Publications

In Process

Journal Article
Demystifying Scale and Skill in the Mutual Fund Industry
[Adams, JohnC, Hayunga, Darren, Mansi, Sattar]. Working Paper.

Journal Article
Board of Directors’ Pay and Mutual Fund Performance
[Adams, JohnC, Mansi, Sattar, Nishikawa, Takeshi]. Working Paper.

Journal Article
Returns to Scale in Active and Passive Management
[Adams, JohnC, Hayunga, DarrenK, Mansi, SattarA. ]. Management Science. Working Paper.

2019

Journal Article
Identifying and Treating Outliers in Finance. Financial Management. Volume 48, Issue 2.
[, , , , ].

Journal Article
Identifying and Treating Outliers in Finance
[Adams, JohnC, Hayunga, Darren, Mansi, Sattar, Verardi, Vincenzo]. Financial Management. 48(2), "Wiley". DOI: http://dx.doi.org/https://doi.org/10.1111/fima.12269

2018

Journal Article
Diseconomies of Scale in the Actively-Managed Mutual Fund Industry Revisited. Critical Finance Review, Volume 7-2.
[, , ].

Journal Article
Mutual Fund Performance, Management Teams, and Boards. Journal of Banking and Finance, Volume 92, 358-368.
[, , ].

Journal Article
Diseconomies of Scale in the Actively-Managed Mutual Fund Industry: What Do the Outliers in the Data Tell Us?
[Adams, JohnC, Hayunga, Darren, ADAMS, JOHNC]. Critical Finance Review. 7-2, Boston Mass.: "NOW".
http://cfr.ivo-welch.info/

Journal Article
Mutual Fund Performance, Management Teams, and Boards
[Adams, JohnC, Nishikawa, T. , Rao, R.]. Journal of Banking and Finance. 92, 358-368. DOI: http://dx.doi.org/https://doi.org/10.1016/j.jbankfin.2016.09.006

2017

Journal Article
Do Long-Short and Market Neutral Mutual Funds Sail on Even Keel? Journal of Investing, Volume 26 No.4, 69-80
[, ].

Journal Article
The Restating of Financial Statements by REITs. Journal of Accounting, Auditing and Finance, Volume 32, Issue 3.
[, , ].

Journal Article
Do Long-Short and Market Neutral Mutual Funds Sail on Even Keel?
[Adams, JohnC, Ahmed, Parvez, Nanda, Sudhir]. Journal of Investing.

2015

Journal Article
The Restating of Financial Statements by REITs
[Rasmussen, Stephanie, Adams, John, Hayunga, DK]. Journal of Accounting, Auditing and Finance, The. DOI: http://dx.doi.org/10.1177/0148558X15607748

2014

Journal Article
Affiliated Agents, Boards of Directors, and Mutual Fund Securities Lending Returns
[Adams, JohnC]. Journal of Financial Research. 3(4), 461 - 494. DOI: http://dx.doi.org/10.1111/jfir.12043

Journal Article
Affiliated Agents, Boards of Directors, and Mutual Fund Securities Lending Returns. Journal of Financial Research, Volume 37, Issue 4, 461-494.
[, , ].

2013

Journal Article
Public vs Private Ownership and Fund Manager Turnover
[Adams, JohnC]. Financial Management. 42(1), 127 - 154. DOI: http://dx.doi.org/10.1111/j.1755-053x.2012.01220.x

Journal Article
Public vs Private Ownership and Fund Manager Turnover. Financial Management, Volume 42, Issue 1, 127-154. Best Paper Award at the 2009 Southwestern Finance Association’s Annual Meeting.
[, , ].

Journal Article
The Performance of Faith-Based Mutual Funds
[Adams, JohnC]. Journal of Investing. 22(4), DOI: http://dx.doi.org/10.3905/joi.2013.22.4.083

Journal Article
The Performance of Faith-Based Mutual Funds. Journal of Investing, Volume 22, No. 4, 83-92.
[, ].

2012

Journal Article
Are Mutual Fund Fees Excessive? Evidence from Index Funds
[Adams, JohnC]. Journal of Banking and Finance. 36(8), 2245 - 2259. DOI: http://dx.doi.org/10.1016/j.jbankfin.2012.04.003

Journal Article
Are Mutual Fund Fees Excessive? Journal of Banking and Finance. 36, Issue 8, 2245-2259. Nominated for Best Paper Award in Investments at the 2010 Financial Management Association’s Annual Meeting.
[, , ].

2010

Journal Article
Currency Markets, Performance, and Mutual Fund Cash Flows
[Adams, JohnC]. Journal of Asset Management. 2(5), DOI: http://dx.doi.org/ 10.1177/026010791102300202

Journal Article
Foreign Currency Exchange Rates and Mutual Fund Cash Flows. Journal of Asset Management, Volume 11, No. 5, 314-320.
[, ].

Journal Article
Internal governance mechanisms and operational performance: Evidence from index mutual funds
[Adams, JohnC]. Review of Financial Studies. 23, 1261 - 1286. DOI: http://dx.doi.org/10.1093/rfs/hhp068

Journal Article
Internal governance mechanisms and operational performance: Evidence from index mutual funds. Review of Financial Studies 23, 1261-1286.
[, , ].

2009

Journal Article
CEO turnover and bondholder wealth
[Adams, JohnC, Mansi, SattarA.]. 33(3), 522-533. DOI: http://dx.doi.org/10.1016/j.jbankfin.2008.09.005

Journal Article
CEO Turnover and Bondholder Wealth. Journal of Banking and Finance, Volume 33, No. 3, 522-533.
[, ].

2004

Journal Article
Market Efficiency and Diversification: An Experiential Approach Using the Wall Street Journal’s Dartboard Portfolio
[Adams, JohnC, Cyree, KenB.]. 14(2), 40-51.
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=670403

Journal Article
Market Efficiency and Diversification: An Experiential Approach Using the Wall Street Journal’s Dartboard Portfolio, Journal of Applied Finance, Volume 14, No. 2.
[, ].

Presentations

- March 2020
  Adams, JohnC (Author & Presenter), "Demystifying Scale and Skill in the Mutual Fund Industry", San Antonio, Texas. (March , 2020).
- August 2019
  Adams, JohnC (Author & Presenter), "Returns to Scale in Active and Passive Management", European Finance Association, Lisbon, Portugal. (August , 2019).
- July 2019
  Adams, JohnC (Author), Reeb, David (Author & Presenter), "Identifying and Treating Outliers in Finance. ", Financial Management Association, Ho Chi Minh City, Vietnam. (July , 2019).
- July 2019
  Adams, JohnC (Leader), John, Kose (Panelist), Fernanddez Maturana, Viviana (Panelist), "The Credibility Crisis in Finance Research. A Conversation on the Causes, Consequences, and Remedies.", Santiago, Chile. (July , 2019).
- October 2018
  Adams, JohnC (Author & Presenter), "Identifying and Treating Outliers in Finance.", Financial Management Association, San Diego, USA. (October , 2018).
- July 2017
  Adams, JohnC, "Diseconomies of Scale in the Actively-Managed Mutual Fund Industry Revisited". (July 20, 2017).
- March 2016
  Adams, JohnC, "Auditor Sharing in the Mutual Fund Industry: Empirical Evidence on Determinants and Audit Fees ". (March 10, 2016).

Students Supervised

- Aug 2020
  Dissertation Committee Co-Chair
  Arati Kale, (Finance and Real Estate)
  A Rose by any Other Name is Just as Sweet”: Evidence from Fund Manager Names and Mutual Fund Flows
- July 2020
  Dissertation Committee Chair
  Jason Morrison, (Finance and Real Estate)
  Juicing the Dividend Yield for Higher Mutual Fund Returns
- 2017
  Dissertation Committee Member
  Jinsuk Yang,
- Aug 2017
  Dissertation Committee Member
  Jinsuk Yang, (Finance and Real Estate)
- 2016
  Dissertation Committee Member
  Yiliing Zhang,
- Apr 2016
  Dissertation Committee Member
  Sergiy Saydometov, (Finance and Real Estate)
  Household Sentiment Index and Real Estate Returns
- 2015
  Dissertation Committee Member
  Sergiy Saydometov,
- 2013
  Dissertation Committee Member
  Al Gormis,

Courses

Service to the University

- Sept 2020 to Present Committee Member
  
  Diversity, Racial Equity, and Inclusion Committee
- Jan 2019 to Present Committee Member
  
  BBA Finance Curriculum Committee
- Jan 2019 to Present Committee Member
  
  MSQF program committee
- Jan 2019 to Present Committee Chair
  
  PhD Program Committe
- Aug 2018 to Present Program Coordinator
  
  FINA3313 Coordination
  Maintain quality and consistency of instruction in the multiple-section FINA 3313, Business Management course. Schedule regular meetings and provide resources to support teaching and learning. Coordinate tasks associated with the common homework and exams. These tasks include scheduling rooms, creating the final and midterm exams, creating homework assignments.
- Sept 2016 to Present Committee Member
  
  Promotion and Tenure Committee
- Aug 2017 to Aug 2020 Faculty Mentor
  
  Beta Gamma Sigma
- Aug 2017 to Aug 2019 Committee Member
  
  Undergraduate Curriculum Committee
- 2013 to Aug 2018 University Senate Service
  
  Faculty Senate department representative
- Sept 2015 to Aug 2017 Committee Member
  
  Diversity and Inclusion
- Sept 2015 to Sept 2016 Committee Member
  
  Faculty Senate: Equity and Ethics committee
- 2014 to 2015
  
  Dean's Strategic Plan ad hoc Research Centers committee
- 2014 to 2015
  
  Dean's Strategic Plan ad hoc Tech mediated learning committee

Service to the Profession

- Mar 2010 to Present
  Committee Member
  Southwestern Finance Association
  Select papers to be included on the conference program.
- 2014 to 2019
  Reviewer, Ad Hoc Reviewer
  Journal of Banking and Finance
- Mar 2018 to Mar 2019
  Officer, Vice President
  Southwest Finance Association
  Organize venue and events for the 2019 Annual Meeting in San Antonio Texas.

Faculty & Staff Resources

John C Adams

Research Interests

Research Interests

Teaching Interests

Teaching Interests

Biography

Biography

Education

Education

Appointments

Appointments

Memberships

Awards and Honors

News Articles

News Articles

Support & Funding

Support & Funding

Publications

Presentations

Students Supervised

Courses

Service to the University

Service to the Profession