Jay Wellman

Associate Professor-Clinical
Director – MBA for Working Professionals



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 is currently the director of the MBA program for Working Professionals. He has taught courses in Investments, Corporate Finance, Fixed Income Securities and Insurance during his career, and currently teaches MBA6223 (core finance - MBA). He has also taught BUSFIN3220 (core finance - undergraduate), BUSFIN 7223 (portfolio management – SMF and MBA) and BUSFIN 4221 (investments – undergraduate) at Fisher. 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

Corporate Finance

  • Corporate Finance


  • Asset Pricing
  • Investments


  • 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


  • Loughran, T.; Wellman, J.W. (2012) "New Evidence on the Relation between the Enterprise Multiple and Average Stock Returns."   Journal of Financial and Quantitative Analysis. 46(6), December 2011, 1629-1650.
  • 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.


  • MBA 6223 - Finance

    A market-oriented framework for analyzing the major types of financial decisions made by corporations. The course covers the following topics: present value techniques, capital budgeting, asset valuation, portfolio theory, asset pricing, market efficiency, options, capital structure, financial distress, financial modeling, risk management, mergers and acquisitions and ethics. Prereq: Enrollment in the MBA or WPMBA program. Not open to students with credit for 6221, 6222, or BusFin 810 or 811.

  • BUSFIN 4221 - Investments

    Skills for valuation and theories and applications of CAPM, APT, and efficient markets; investment options, forwards and futures, interest rate parity, and relevant market regulation. Prereq: 3220, BusMgt 2320, 2321, and BusMHR 2292. Not open to students with credit for 722, 4220 or 4222.