Jay Wellman

Jay Wellman joined the Fisher College of Business in Autumn 2011. Before coming to OSU, Jay taught at Cornell University from 2006-2011, and at Binghamton University (SUNY) from 2002-2006. He graduated with a Ph.D in Finance from the University of Iowa in 2002. He also is a Chartered Financial Analyst (CFA), earning the designation in 2010.

Jay has taught courses in Investments, Corporate Finance, Fixed Income Securities and Insurance during his career, and currently teaches BF 620 (Introductory Finance) and BF 722 (Investments). His research interests include mutual funds, divestitures and other topics related to investments. His research has been published in the Journal of Financial and Quantitative Analysis, Financial Management and the Journal of Business Ethics. His research has been cited in the Wall Street Journal, Smart Money and in a case tried before the Supreme Court of the United States.

Areas of Expertise

  • Research: Asset pricing, mutual funds, divestitures, behavioral finance
  • Teaching: Investments, corporate finance, fixed income


  • Chartered Financial Analyst (CFA)
  • Ph.D. in Finance, University of Iowa, Tippie College of Business
  • M.B.A. in Finance, University of Iowa, Tippie College of Business
  • B.A. in Journalism and Mass Communication, University of Iowa
FIN 3220 - Business Finance

Basic principles and main characteristics of the insurance industry and the fundamentals of risk indentification, insurance contracts and annuities.

FIN 4201 - Financial Data

How to use relevant accounting for various applications in finance such as estimating stock and bond prices and free cash flows.

FIN 4226 - Portfolio Management

Theories and applications in asset management including the rols of investment strategies.

FIN 7223 - Investment Management III

Advanced investment strategies need for asset management and portfolio allocation.

  • Loughran, T.; Wellman, J.W. (2012) "New Evidence on the Relation between the Enterprise Multiple and Average Stock Returns."  Forthcoming Journal of Financial and Quantitative Analysis.
  • Wellman, J.W.; Aydogdu, M (2011) “Does Mutual Fund Advertising Work? Evidence from a Comprehensive New Database.” Financial Management 40(3), Fall 2011, 785-809.
  • Wellman, J. W.; Houge, T. I.. “The Use and Abuse of Mutual Fund Expenses.” Journal of Business Ethics 70(1), January 2007, pg. 23-32.
  • Houge, T.I.; Wellman, J.W. “The Fallout from the Mutual Fund Trading Scandal.” Journal of Business Ethics 62(2), December 2005, pg. 129-139.
  • Wellman, J.W.; Zhou, J. (2009) "Mutual Fund Governance, Flows and Returns: Evidence from the Morningstar Fiduciary Grades." Currently being updated for submission in Fall 2011. Presented at the Burridge Center for Securities Analysis and Valuation conference, University of Colorado, November 2008.
  • Wellman, J. W. (2009). "The Smart Money Effect: 1970-2006."
  • Wellman, J.W. (2008). "The Determinants of Mutual Fund 12b-1 Fees."


  • E-mail

    (614) 292-4586

    (614) 292-7062

    Department of Finance
    Fisher College of Business
    The Ohio State University
    850 Fisher Hall
    2100 Neil Avenue
    Columbus, OH 43210