JAMES S. LINCK, Associate Professor, BB&T Scholar
Department of Banking and Finance, Terry College of Business
University of Georgia, Athens, GA 30602
e-mail: jlinck@terry.uga.edu, ph: 706-542-3646

Academic Appointments

2010-Present, Associate Professor of Banking and Finance and BB&T Scholar, Terry College of Business, The University of Georgia, Athens, GA.
2006-Present, Associate Professor of Banking and Finance, Terry College of Business, The University of Georgia, Athens, GA.
2000-2006, Assistant Professor of Banking and Finance, Terry College of Business, The University of Georgia, Athens, GA.
1998-2000, Senior Visiting Lecturer in Accounting, William E. Simon Graduate School of Business, The University of Rochester, Rochester, NY.

Areas of Interest

Research: Corporate Finance, Corporate Governance, Organizations, International Finance.
Teaching: Corporate Finance, Valuation, Financial Statement Analysis, International Finance, Investments.

Education

Arizona State University (Tempe, AZ)	1999	PhD (Finance)
The University of Michigan (Ann Arbor, MI)	1991	MBA (High Distinction)
Georgia State University (Atlanta, GA)	1987	BBA (Magna Cum Laude)

Publications and Working Papers (For those posted to SSRN: http://ssrn.com/author=88433)

"Endogeneity and the Dynamics of Corporate Governance," 2011, Journal of Financial Economics, forthcoming, Linck, James S., Netter, Jeffry M. and M. Babajide Wintoki (Jide). (http://ssrn.com/abstract=970986).

“Vertical Integration to Avoid Contracting with Potential Competitors: Evidence from Bankers’ Banks”, 2011, Journal of Financial Economics, forthcoming, Brickley, James A. Brickley, James S. Linck and Clifford W. Smith Jr. (http://ssrn.com/abstract=1612259).

"Effects and Unintended Consequences of the Sarbanes-Oxley Act on Corporate Boards", The Review of Financial Studies v22n8 (Aug 2009), pp. 3287-3328, Linck, James S., Netter, Jeffry M. and Tina Yang. (Final pre-publication version available at SSRN: http://ssrn.com/abstract=687496).

"Do Managers Listen to the Market?", Journal of Corporate Finance v14n4 (Sept 2008), pp. 347-362, Kau, James B., Linck, James S. and Paul H. Rubin. (Final pre-publication version available at SSRN: http://ssrn.com/abstract=610062).

"The Determinants of Board Structure", Journal of Financial Economics v87 (Feb 2008), pp. 308-328, Linck, James S., Netter, Jeffry M. and Tina Yang. (Final pre-publication version available at SSRN: http://ssrn.com/abstract=729935).

"Shareholder welfare in minority freeze-out bids: Are legal protections sufficient? Evidence from the U.S. market," Journal for Institutional Comparisons v5n1 (Spring 2007), pp. 22-27, Bates, Thomas W. and James S. Linck.

“The Valuation Consequences of Voluntary Accounting Changes,” Review of Quantitative Finance and Accounting v28n4 (May 2007), pp. 327-352, Linck, James S., Thomas J. Lopez and Lynn Rees. (SSRN: http://ssrn.com/abstract=820604)

"Shareholder wealth effects and bid negotiation in freeze-out deals: Are minority shareholders left out in the cold?" Journal of Financial Economics v81n3 (Sep 2006), pp. 681-708, Bates, Thomas W., Michael Lemmon and James S. Linck (Final pre-publication version available at SSRN: http://ssrn.com/abstract=580881)

“Boundaries of the Firm: Evidence from the Banking Industry,”Journal of Financial Economics v70n3 (Dec 2003), pp. 351-383, Brickley, James A., James S. Linck and Clifford W. Smith Jr. (Final pre-publication version available at SSRN: http://ssrn.com/abstract=204728)

“Long-run Performance Following Private Placements of Equity,” Journal of Finance v57n6 (Dec 2002), pp. 2595-2617, Hertzel, Michael, Michael Lemmon, James S. Linck, and Lynn Rees. (Summarized in CFA Digest volume 22 number 2; Final pre-publication version available at SSRN: http://ssrn.com/abstract=168189).

“Board seats for retired CEOs? It depends on how they perform before they retire,” Directorship, Vol XXVI No 5 (May 2000), pp. 8-9, 17, Brickley, James A., Jeffrey L. Coles, and James S Linck.

“What Happens To CEOs After They Retire? New Evidence on Career Concerns, Horizon Problems, and CEO Incentives,” Journal of Financial Economics 52 (June 1999), pp. 341-377, Brickley, James A., James S. Linck, and Jeffrey L. Coles. (Final pre-publication version available at SSRN: http://ssrn.com/abstract=100428)

Proceedings and Book Chapters

"Vertical Integration to Avoid Contracting with Potential Competitors: Evidence from Bankers' Banks", 2009, in "Reforming Financial Regulation", Proceeds of The 45th Annual Conference on Bank Structure and Competition, May 2009, Federal Reserve Bank of Chicago, pp. 202-231, Brickley, James A., James S. Linck, and Clifford W. Smith.

“Does the Decision to Retain Retiring Executives on the Board of Directors Help to Control Agency Problems in American and Japanese Firms?” Chapter 9 in Banking, Capital Markets and Corporate Governance (Pelgrave Publishers – formerly Macmillan Press), 2000, pp. 233-249, Brickley, James A., Jeffrey L. Coles, and James S Linck.

Working Papers and Research in Progress

"Can Earnings Management Ease Financial Constraints? Evidence from Earnings Management Prior to Investment", with Jeffry Netter and Tao Shu (http://ssrn.com/abstract=1535990).

"Institutional Investors and the Long-Run Performance of Private Placements", with Michael Hertzel and M. Babajide Wintoki (Jide).

Teaching

Empirical Corporate Finance (PhD), Valuation (MBA), Managerial Finance (Executive MBA, Fast Track MBA, Evening MBA), Financial Management (MBA, BBA, Honors BBA), Valuation and Financial Statement Analysis (BBA), Financial Statement Analysis (Non-degree), Investments (Non-degree), Valuation (Executive MBA), Valuation (MBA), Financial Acumen (non-degree), International Finance (Undergraduate, MBA, UGA@Oxford), Fundamentals of Finance (Undergraduate, Honors Undergraduate), Corporate Finance Theory (MBA), Mergers, Restructurings and Corporate Control (MBA), Research Methods in Financial Economics (PhD), Corporate Financial Accounting (MBA); Non-degree teaching includes: Atlanta Society of Financial Analysts' CFA Review Program, the Georgia Banker's School, NORINCO Executive Develpment (Chinese Executives), NCR Executive Leadership Program, NCR Emerging Leaders Program, among others.

Honors and Professional Affiliations

Outstanding Teacher, University of Georgia Honors Program, 2011
Professional MBA 2010 Outstanding Instructor of the Year, University of Georgia, 2010
Named BB&T Scholar of the Terry College of Business, 2010
Executive MBA Most Outstanding Professor, University of Georgia, 2009
MBA Teacher of the Year Finalist, University of Georgia, 2009
Executive MBA Most Outstanding Professor, University of Georgia, 2008
Order of Omega Outstanding Mentor, 2007
MBA Teacher of the Year Finalist, University of Georgia, 2007
Terry College of Business Teacher of the Year, University of Georgia, 2005
MBA Teacher of the Year Finalist, University of Georgia, 2005
Outstanding Finance Teacher, University of Georgia Honors Day 2005
Executive MBA Most Outstanding Professor, University of Georgia, 2004
Hugh O. Nourse MBA Teacher of the Year, University of Georgia, 2002
Alpha Kappa Psi Teacher of the Year-Finance, University of Georgia, 2002
Teaching Honor Roll, University of Rochester, 1998/1999, 1999/2000
Excellence in Teaching Award finalist, ASU, 1997
Certified Public Accountant (CPA)
Chartered Financial Analyst (CFA) charter holder
Member, Financial Management Association (FMA), American Finance Association (AFA),Western Finance Association (WFA), CFA Institute (formerly AIMR)
Arizona State University: Graduate Academic Scholarships, 1994-1998
University of Michigan: Graduated with high distinction; Board of Regents' Scholarships
Georgia State University: Magna Cum Laude Graduate
Beta Gamma Sigma

Presentations and Other Scholarly Activities

“What Happens To CEOs After They Retire? New Evidence On Career Concerns, Horizon Problems, And CEO Incentives”

Arizona State University, April, 1997
Arizona Finance Symposium, May, 1997
American Finance Association Meetings, New York, NY, January, 1999

“Long-run Performance Following Private Placements of Equity”

Arizona State University, January, 1997
The American Graduate School of International Management, April, 1997
Financial Management Association, Annual Meeting, Hawaii, October, 1997
Texas A&M University, December, 1997
The University of Arizona, February, 1998
Southern Finance Association Meetings, November, 1998
The University of Rochester, April, 1999
The University of Miami, December, 1999
The University of Western Ontario, December, 1999
Georgia Institute of Technology, December, 1999

“Exchange Rates, Cash Flow and Firm Value”

Arizona State University, June, 1999
The University of Rochester, February, 2000

“Boundaries of the Firm: Evidence from the Banking Industry”

The University of Rochester, November 1999
Purdue University, November 1999
The University of Georgia, December 1999
Western Finance Association Meetings, June 2002

“Voluntary Accounting Changes: Earnings Management or Earnings Quality?”

The University of Georgia, July 2002
Georgia State University, September 2002

“Bid Negotiation and Shareholder Welfare in Minority Freeze-Out Deals”

The University of Georgia, April 2004
All Georgia Finance Conference, Atlanta, September 2004
Western Finance Association Meetings, June 2005

“Do Managers Listen the Market?”

The University of Georgia, June 2004
The University of South Carolina, September 2004
Southern Methodist University, November 2004
Washington University, St. Louis, Conference on Corporate Governance, November 2004
Clemson University, April 2005

“The Determinants of Board Structure”

Financial Management Association Meetings, 2004
Southern Finance Association Meetings, 2004

“Effects and Unintended Consequences of the Sarbanes-Oxley Act on Corporate Boards”

Financial Management Association Meetings, October 2005
American Finance Association Meetings, January 2006
Washington University-St. Louis, Conference on Corporate Finance, November 2006
Ohio University, November 2006
Florida State University, September 2007
Georgia State University, September 2007
North Carolina State University, October 2007

“Institutional Investors and the Long-Run Performance of Private Placements”

Financial Management Association Meetings, October 2006

“Endogeneity and the Dynamics of Corporate Governance”

Western Finance Association Meetings, June 2008
Allied Social Sciences Associations (ASSA) Meetings: Association for Financial Economists (AFE), January 2009
European Summer Symposium in Financial Markets (ESSFM), Gerzensee, Switzerland, July 2009

“Vertical Integration to Avoid Contracting with Potential Competitors: Evidence from Bankers’ Banks”, with James A. Brickley and Clifford W. Smith Jr.

45th Annual Conference on Bank Structure and Competition, Federal Reserve Bank of Chicago, Chicago, IL, May 2009
European Summer Symposium in Financial Markets (ESSFM), Gerzensee, Switzerland, July 2009
Georgia Tech, April 2011

Associate Editor, Journal of Corporate Finance

Ad Hoc Referee: The American Economic Review, The Journal of Financial Economics, The Journal of Finance, The Review of Financial Studies, The Journal of Financial and Quantitative Analysis, The Journal of Corporate Finance, Financial Management, The Journal of Accounting and Economics, Comtemporary Accounting Review, The Journal of Law and Economics, Journal of Banking and Finance, International Journal of Industrial Organization, The Journal of Management, The Financial Review, The Journal of Financial Research, Managerial and Decision Economics, The Quarterly Review of Economics and Finance, The Review of Quantitative Finance and Accounting, Advances in Quantitative Analysis of Finance and Accounting, Various textbook reviews.

Reviewer, 2009 CAR/JCAE Joint Symposium on Asian-related issues in Hong Kong.

Program Committee, Washington University Corporate Finance Conference, 2007, 2008.
Program Committee, Western Finance Association Meetings (2009, 2010, 2011)
Program Committee, Financial Management Association Meetings, (2002, 2003, 2004, 2006, 2007); Session Chair (2003, 2004, 2005, 2006, 2007); Program Committee, Southern Finance Association Meetings (2005); FMA European Meetings (2006)

Financial Management Association Competitive Paper Awards Committee - Corporate Finance (2000, 2001, 2004)

Discussant, Western Finance Association Meetings (1998, 2009); Fortis/Georgia Tech International Finance Conference (2000, 2001, 2002, 2004); Financial Management Association Meetings (1996, 1997, 1998, 1999, 2000, 2001, 2004, 2005, 2006, 2007)

Chair of the MBA Committee, Terry College of Business, UGA, 2006-2009

Graduate Coordinator (direct PhD and MA program), Department of Banking and Finance, Terry College of Business, 2001-2006

PhD dissertation committees serving/served on: Yilin Chen (Risk Mgt), Kevin Okoeguale, Jide Wintoki, David Cicero, Tina Yang, Geoff Smith (Chair), Ivonne Moya, Andy Puckett, Darrin Gulla (Econ), Enya He (Risk Mgt), Joe Ruhland (Risk Mgt), Andre Lieberman (Risk Mgt), Beatrice Boehmer, Michael Stegemoeller, Wanda Lee Owens

Masters thesis committees serving/served on: Alva Hopkins (Forestry), Manuel Stratmann, Kai Mun Liu, Darius Hinz (Chair), Maik Eisenbeiss (Chair), Arianne Schroeder (Chair), Ryan Cliett

CFA exam scholarship awards: Advise, screen and select five candidates per year to receive a Chartered Financial Analyst (CFA) exam scholarship.

Judge/Advisor for ACG (Atlanta Chapter-Association for Corporate Growth) Finance case competition (2009, 2011).

College/University committees serving/served on: MBA Committee (Chair, 2006-2009; member: 2006-present); Accounting Department Program Review Committee (2009/2010); Economics Department Program Review Committee (2010/2011); Faculty Advisor for the MBA Finance Club; Faculty Concerns Committee; UGA Honors Program Mentor; Distance Learning Task Force; Web Advisory Board (WAB); Graduate Programs Committee; Dean’s five-year review task force; Faculty Advisor to UGA Undergraduate Investments Club; Terry College Undergraduate Admissions Committee (two terms); University Instructional Advisory Committee; Regents Teaching Award Committee; Mentor, Terry Leadership Scholars (2002-2008), OIT Advisory Panel, University Curriculum Committee (2008-present, chair of various subcommittees), various search committees.

Citations in the Press

Atlanta Business Chronicle (11/28/2008, 11/21/2008, 10/10/2008), Chattanooga Times (9/2008), Athens-Banner Herald (2008), Wall Street Journal (January 2008), U.S. News (May 2007), Athens, GA Channel 15 (Feb 2005); Savannah Morning News (Jan 2004; Sept 2004), BBC (October 9, 2002), Business Week (Feb 3, 2002); Wall Street Journal (1998), Business Week (1998), East Valley Tribune (1998)

Professional Experience

1993-1994 Intel Corporation, Rio Rancho, NM
Finance, Components Manufacturing

1991-1993 NCR/AT&T Corporation, Dayton, OH
Corporate Finance, Treasurer's Division

1987-1989 Ernst & Young, Atlanta, GA
Senior Accountant, Audit Division

1985-1987 IBM Corporation, Atlanta, GA
Cooperative Education Intern, Financial Marketing