John Campbell

John L. Campbell

  • Department Head, Department of Finance
  • Herbert E. Miller Chair in Financial Accounting and Professor, J.M. Tull School of Accounting


JOHN L. CAMPBELL, PhD, CPA is a Professor of Accounting and Finance, and the Herbert E. Miller Chair in Financial Accounting in the Terry College of Business at the University of Georgia. He has a Bachelor of Science degree in Analytical Finance (with honors) and a Master of Science degree in Accountancy from Wake Forest University, and a PhD in Management (Major in Accounting, Minor in Finance) from the University of Arizona.

Since 2010, Dr. Campbell teaches financial accounting to undergraduates, masters, and doctoral students at the University of Georgia. He has also taught PhD seminars in Asia, South America, and across the US. At UGA, he has won eight teaching awards and fellowships at the department, college, and university levels, including the Undergraduate Teacher of the Year award from UGA’s accounting students numerous times, the annual Teaching Excellence award across the Terry College of Business, and being selected for the Lilly Teaching Fellows Program that is awarded annually to ten professors across the entire university. Previously, he taught financial and managerial accounting at the University of Arizona and Wake Forest University.

Dr. Campbell’s research lies at the intersection of accounting and finance. His papers examine capital market consequences of accounting and tax information, and generally have implications for financial market regulations. His research is published in top accounting and finance journals, including The Accounting Review, the Journal of Accounting and Economics, the Review of Financial Studies, the Review of Accounting StudiesContemporary Accounting Research, the Journal of Financial and Quantitative Analysis, and the Journal of Business, Finance, and Accounting. His research has been presented across North America, as well as in South America, Europe, Africa, Asia, and Australia.

Dr. Campbell serves as an editor at the Review of Accounting Studies and on the editorial board of The Accounting Review, Contemporary Accounting Research, the Journal of Financial Reporting, and the Journal of Business, Finance, and Accounting. He previously served a four-year term as editor at Contemporary Accounting Research. Dr. Campbell has authored multiple comment letters to the Financial Accounting Standards Board (FASB), and has been invited to the FASB multiple times to discuss topics relevant to standard setting. His research has been cited by Bloomberg,, the Columbia Law School Blue Sky Blog, as well as in materials provided to the FASB, the IASB, and the Institute of Chartered Accountants in England and Wales (ICAEW), and he has been quoted in articles by the Atlanta Journal-Constitution and National Public Radio’s Morning Edition.

Finally, Dr. Campbell regularly engages in consulting on various accounting and finance topics, including corporate training for the investment banking division of Wells Fargo, corporate consulting, and serving as an expert witness. Prior to academia, Dr. Campbell worked as a mergers and acquisitions investment banking analyst with Wachovia Securities, an Audit Senior with PwC, and as a Financial Reporting Manager with Remington Arms Company.

Outside of academia, Dr. Campbell enjoys running, biking, playing tennis, UGA football, Wake Forest basketball, Arizona basketball, and most importantly spending time with his wife and three daughters.


  • PhD, Accounting, University of Arizona, 2010
  • MSA, Accountancy, Wake Forest University, 2001
  • BS, Analytical Finance, Wake Forest University, 2001

Research Interests

  • Investors use of Accounting and Tax information
  • Financing, Investing, and Financial Reporting decisions
  • Capital Markets
  • Real Effects of Accounting and Disclosure Regulation
  • Voluntary Disclosure
  • Cost of Capital
  • Pensions
  • Executive Compensation
  • Derivatives and Hedging
  • FASB and SEC Regulation
  • Social Media and Capital Markets


Working Papers

  • Campbell, J., M. Ettredge, F. Guo, and Z. Wiebe. 2022. Information Asymmetry in Spinoffs: The Role of Incremental Disclosure. University of Georgia, University of Kansas, Iowa State University, and University of Arkansas.
  • Blann, J., J. Campbell, J. Shipman, and Z. Wiebe. 2024. Evidence on the Decision Usefulness of Fair Values in Business Combinations. Arizona State University, University of Georgia, and University of Arkansas.
  • Campbell, J., X. Zheng, and D. Zhou. 2024. Number of numbers: Does Quantitative Textual Disclosure reduce Information Risk? University of Georgia, University of British Columbia, and Baruch College.
  • Campbell, J., O. Davidson, and C. Shakespeare. 2023. Do fair value adjustments excluded from net income convey new information that is complementary to GAAP earnings? Working paper, University of Georgia and University of Michigan.
  • Campbell, J., J. D’Adduzio, and R. Moon. 2023. Everyone has an opinion: The informativeness of social media response to management guidance. Working paper, University of Georgia, University of British Columbia, and Georgia Institute of Technology.
  • Campbell, J., J. Carson, E. Eastman, and D. Yang. 2024. The capital market consequences associated with classifying unrealized gains and losses on available-for-sale (AFS) equity securities in GAAP net income. Working paper, University of Georgia and Florida State University.
  • Campbell, J., G. Lee, J. Salas, and K. Shen. 2024. What drives bondholder demand for conditional conservatism? Evidence from the bond investor base. Working paper, University of Georgia, Fordham University, and Lehigh University.
  • Campbell, J., J-H. Kong, G. Lee, and J. Salas. 2022. CEO General Ability and Voluntary Disclosure. Working paper, University of Georgia, Fordham University, and Lehigh University.
  • Campbell, J., J. Lopez-Vilaro, C. Shakespeare, and Z. Wiebe. 2024. The determinants and informativeness of banks’ return on tangible common equity disclosures. Working paper, University of Georgia, University of Arkansas, and University of Michigan.
  • Campbell, J., W. Hou, B. Zhang, and X. Zhu. 2023. Do I Have Your Loyalty?: The Proportion of Named Executive Officers Hired by the CEO, Firm Risk, and Auditors’ Fee Premiums. Working paper, University of Georgia, University of Hong Kong, and Renmin University of China.
  • Campbell, J., H. Ham, Z. Lu, and K. Wood. 2024. Expectations Matter: When (not) to use Machine Learning Earnings Forecasts. Working paper, University of Georgia and Bentley University.
  • Campbell, J., H. Chen, J. Guan, and K. Ye. 2024. The amount and quality of R&D capitalization under International Financial Reporting Standards (IFRS). Working paper, University of Georgia, Monash University, and Renmin University of China.
  • Campbell, J., and M. Evans. 2024. The importance of practice-informed accounting research: evidence from macroeconomic cycles and disclosure regulation. Working paper, University of Georgia and Wake Forest University.
  • Campbell, J., M. Evans, W. Shi, and K. Zhai. 2024. Financing Constraints and Tax Planning Activity: International Evidence. Working paper, University of Georgia, Deakin University, and Wake Forest University.
  • Campbell, J., O. Davidson, P. Mason, and S. Utke. 2024. ESG disclosures in private equity fund filings and fundraising outcomes. Working paper, Baylor University, University of Connecticut, and University of Georgia.

Journal Articles

  • Campbell, J., D. Dhaliwal, L. Krull, and C. Schwab. 2024. U.S. Multinational Corporations’ Foreign Cash Holdings: An Empirical Estimate and the Impact of the Tax Cuts and Jobs Act of 2017. Review of Accounting Studies, conditionally accepted.
  • Cadman, B., J. Campbell, and R. Johnson. 2024. Time-series variation in the efficacy of executive risk-taking incentives: The role of uncertainty. The Accounting Review 99 (2), 113-141.
  • Campbell, J., S. Cao, H. Chang, and R. Chiorean. 2023. The implications of firms’ derivatives use on the frequency and usefulness of management earnings forecasts. Contemporary Accounting Research 40 (4), 2409-2445.
  • Baginski, S., J. Campbell, P. Ryu, and J. Warren. 2023. The association between current earnings surprises and the ex-post bias of concurrently issued management forecasts. Review of Accounting Studies 28 (4), 2104-2149.
  • Campbell, J., J. Duchac, D. Stice, and W. Shi. 2023. The association between stock liquidity and audit pricing. Auditing: A Journal of Practice & Theory, 42 1-22.
  • Campbell, J., K. Gee, and Z. Wiebe. 2022. The determinants and informativeness of non-GAAP revenue disclosures. The Accounting Review, 97 23-48.
  • Baginski, S., J. Campbell, R. Moon, and J. Warren. 2022. Executive risk-taking incentives and voluntary disclosure accuracy. Journal of Financial Reporting, 7 25-47.
  • Campbell, J., N. Goldman, and B. Li. 2021. Do Financing Constraints lead to incremental Tax Planning? Evidence from the Pension Protection Act of 2006. Contemporary Accounting Research, 38: 1961-1999.
  • Campbell, J., J. D’Adduzio, J. Downes, and S. Utke. 2021. Do debt investors adjust financial statement ratios when financial statements fail to reflect economic substance? Evidence from cash flow hedges. Contemporary Accounting Research, 38: 2302-2350.
  • Hoffman, B., J. Campbell, and J. Smith. 2021. Investor perceptions of government deregulation: Evidence from the Sarbanes-Oxley Act’s Section 404. Accounting Horizons, 35: 57-81.
  • Campbell, J., U. Khan, and S. Pierce. 2021. The effect of mandatory disclosure on market inefficiencies: Evidence from Financial Accounting Standards Board (FASB) Standard Number 161. The Accounting Review, 96: 153-176.
  • Campbell, J., B. Twedt, and B. Whipple. 2021. Trading prior to the disclosure of material information: Evidence from Regulation Fair Disclosure Form 8-Ks. Contemporary Accounting Research, 38: 412-442.
  • Campbell, J., H. Lee, H. Lu, and L. Steele. 2020. Express yourself: Why managers’ disclosure tone varies across time and what investors learn from it. Contemporary Accounting Research, 37: 1140-1171.
  • Campbell, J., J. Guan, O. Li, and Z. Zheng. 2020. CEO severance pay and corporate tax avoidance. Journal of the American Taxation Association, 42: 1-27.
  • Campbell, J., M. DeAngelis, and R. Moon. 2019. Skin in the game: Personal stock holdings and investors’ response to stock analysis on social media. Review of Accounting Studies 24: 731-779.
  • Ayres, D., J. Campbell, J. Chyz, and J. Shipman. 2019. Do financial analysts compel firms to make accounting decisions? Evidence from goodwill impairments. Review of Accounting Studies 24: 1214-1251.
  • Campbell, J., L. Mauler, and S. Pierce. 2019. A review of derivatives research in accounting and suggestions for future research. Journal of Accounting Literature 42: 44-60.
  • Brockman, P., J. Campbell, H. Lee, and J. Salas. 2019. CEO Internal Experience and Voluntary Disclosure Quality: Evidence from Management Forecasts. Journal of Business, Finance, and Accounting 46(3-4): 420-456..
  • Campbell, J., M. Cecchini, A. Cianci, A. Ehinger, and E. Werner. 2019. Tax-Related Mandatory Risk Factor Disclosures, Future Profitability, and Stock Returns. Review of Accounting Studies 24(1): 264-308.
  • Baginski, S., J. Campbell, L. Hinson, and D. Koo. 2018. Do Career Concerns Affect the Delay of Bad News Disclosure? The Accounting Review, 93(2):61-95.
  • Call, A., J. Campbell, D. Dhaliwal, and R. Moon. 2017. Employee Quality and Financial Reporting Outcomes. Journal Of Accounting And Economics, 64(1):123-149.
  • Campbell, J., and E. Yeung. 2017. Earnings Comparability, Accounting Similarities, and Stock Returns: Evidence from Peer Firms’ Earnings Restatements. Journal Of Accounting Auditing & Finance, 32(4): 480-509.
  • Cadman, B., J. Campbell, and S. Klasa. 2016. Are ex-ante CEO severance pay contracts consistent with efficient contracting? Journal Of Financial And Quantitative Analysis, 51(3):737-769.
  • Campbell, J., J. Downes, and W.C. Schwartz, Jr. 2015. Do Sophisticated Investors use the Information provided by the Fair Value of Cash Flow Hedges? Review Of Accounting Studies,20(2):934-975.
  • Campbell, J., J. Hansen, C. Simon, and J. Smith. 2015. Audit Committee Stock Options and Financial Reporting Quality after the Sarbanes-Oxley Act of 2002. Auditing: A Journal Of Practice And Theory, 34(2):91-120.
  • Campbell, J. 2015. The Fair Value of Cash Flow Hedges, Future Profitability, and Stock Returns. Contemporary Accounting Research,32(1):243-279.
  • Campbell, J., H. Chen, D. Dhaliwal, H. Lu, and L. Steele. 2014. The Information Content of Mandatory Risk Factor Disclosures in Corporate Filings. Review Of Accounting Studies, 19(1):396-455.
  • Campbell, J., J. Chyz, D. Dhaliwal, and W. C. Schwartz, Jr. 2013. Did the 2003 Tax Act Increase Capital Investments by Corporations? Journal Of The American Taxation Association, 35(2):33-63.
  • Campbell, J., D. Dhaliwal, and W.C. Schwartz, Jr. 2012. Financing Constraints and the Cost of Capital: Evidence from the Funding of Corporate Pension Plans. Review Of Financial Studies, 25(3):868-912.
  • Campbell, J., D. Dhaliwal, and W.C. Schwartz, Jr. Summer 2010.Equity Valuation Effects of the Pension Protection Act of 2006. Contemporary Accounting Research, 27(2):469-536.

Book Chapters

  • Campbell, J., J. D’Adduzio, and J. Duchac. 2017. The Use of Fair Value Accounting in Risk Management in Non-Financial Firms. The Routledge Companion To Fair Value Accounting. Ed. Gilad Livne and Garen Markarian. New York: Taylor & Francis Group. 155-178.

Editorial Appointments

  • Editor, Review of Accounting Studies, 2024–present
  • Editor, Contemporary Accounting Research, 20202024
  • Editorial Board Member, The Accounting Review, 2020–present
  • Editorial Board Member, Review of Accounting Studies, 20212024
  • Editorial Board Member, Journal of Financial Reporting, 2021–present
  • Editorial Board Member, Journal of Business, Finance, and Accounting, 2016–present
  • Editorial Board Member, Contemporary Accounting Research, 2017–present
  • Annual Meeting, Track Chair, Accounting Standard Setting and Regulation, 20202020
  • Midyear Meeting, Track Chair, Executive Compensation, 20202020
  • Annual Meeting Co-Coordinator, American Accounting Association Financial Accounting and Rep, 20142015
  • Annual Meeting, Track Chair, Financial Reporting Quality, 20142014

Awards, Honors, and Recognition

  • Outstanding Reviewer Award, Review of Accounting Studies, 2022.
  • Outstanding Discussion Award, FARS Section of the AAA, 2021 and 2022.
  • Outstanding Reviewer Award, The Accounting Review, 2021.
  • Teaching Excellence Award, Terry College of Business, 2021.
  • Best Paper Award, Review of Accounting Studies Conference, 2018.
  • Research Excellence Award, Terry College of Business, 2018.
  • Percy B. Yeargan Outstanding Undergraduate Teacher of the Year, Tull School of Accounting, 2013, 2014, 2015, and 2016.
  • UGA Lilly Foundation Teaching Fellowship, 2013-2015.
  • Deloitte Foundation Doctoral Fellowship, 2009.

Prior Professional Positions

  • Training Instructor, Wells Fargo Securities, Investment Banking, 2014 - present
  • Expert Witness and Litigation Support, 2015, 2018, 2021, 2022, 2024
  • Consulting on Accounting Matters to Corporations and Regulators, 2010, 2018, 2021, 2024
  • Associate Professor, University of Georgia, 2015 to 2020
  • Assistant Professor, University of Georgia, 2010 to 2015
  • Graduate Student, University of Arizona, 2007 to 2010
  • Remington Arms Company, Financial Reporting Manager, 2004 to 2007
  • PricewaterhouseCoopers, Auditor, Senior Associate, 2002 to 2004
  • Wachovia Securities, Investment Banking, Analyst, 2001 to 2002
  • Certified Public Accountant, certified in the state of Illinois