Robert J. Trulaske Sr., College of Business, University of Missouri

People Directory

John S. Howe

Chair – Department of Finance
Finance
Missouri Bankers Chair
Office: 
401
Building: 
Cornell Hall
Phone: 
(573) 882-5357

John Howe is Professor of Finance, Missouri Bankers Chair, and Chair of the Finance Department at the University of Missouri. He has been at MU more than two decades, with prior appointments at Louisiana State University and the University of Kansas.

He earned his undergraduate degree (B.A.) from Colorado College and his graduate degrees (M.S., Ph.D.) from Purdue University. He is a Chartered Financial Analyst (CFA) as well as a Governance Fellow of the National Association of Corporate Directors. He serves on the boards of directors of several for-profit companies and has extensive non-profit board experience.

John’s research interests including banking, corporate governance, household finance, and behavioral economics. He has published extensively in the major journals in finance and accounting, and has more than 65 publications in peer-reviewed journals. He has been a visiting scholar at the University of Cambridge (U.K.) and Queensland University of Technology (Australia), and has taught courses for the banking group UBS (Switzerland).

John has won numerous teaching awards, including the William T. Kemper Fellow for Excellence in Teaching. He has taught at all levels including the executive MBA.

Education: 

B.A., Colorado College, 1976

M.S., 1978 and Ph.D., 1981 Purdue University

Publications

Book

Howe, J. and Corrigan, R. (2017). The Foolish Corner: Avoiding Mind Traps in Personal Financial Decisions. Columbia, MO: Stuart Charles Group.

Journal Articles

Finke, Michael S., John S. Howe, and Sandra J. Huston, “Old Age and the Decline in Financial Literacy,” Management Science, 63(1), 2017, pp. 213-230.
Available online: http://pubsonline.informs.org/doi/abs/10.1287/mnsc.2015.2293

Xing, Xuejing, John S. Howe, Randy I. Anderson, and Shan Yan, “Labor Rights, Venture Capital, and Firm
Performance,” Financial Management, 46(1), 2017, pp. 129-154.

Houston, Reza and John S. Howe, “Earnings Management, Earnings Surprises, and Distressed Firms,” Accounting and Finance Research 5(1), 2016, pp. 64-87.

K. Stephan Haggard and John S. Howe, “Bank Ownership, Free Cash Flow, and Agency Behavior,” Banking and Finance Review, 7(1), 2015, pp. 1-18.

K. Stephan Haggard, John S. Howe, and Andrew A. Lynch, “Do Baths Muddy the Waters or Clear the Air?” Journal of Accounting and Economics, 59, 2015, pp. 105-117.

John S. Howe and Chris Tamm, Financial Contracting and Warrant Structure: Unit IPOs vs. Chapter 11 Reorganizations,” Accounting and Finance Research 1 (2), 2012, pp. 66-76. Abstracted in the Journal of Economic Literature, June 2014.

John S. Howe and Scott W. O’Brien, “SPAC Performance, Ownership, and Corporate Governance,” Advances in Financial Economics 15, 2012, pp. 1-14.

K. Stephen Haggard and John S. Howe, “Are Banks Opaque?,” International Review of Accounting, Banking and Finance 4 (1), 2012, pp. 51-72. Abstracted in the Journal of Economic Literature, June 2014

John S. Howe and Biljana Nikolic, “Catering for Security Types: The Case of Warrants,” Review of Behavioral Finance 4 (1), 2012, pp. 28-45. Abstracted in the Journal of Economic Literature, June 2014.

Grace Qing Hao and John S. Howe, “Does Merger Structure Matter?,” Managerial Finance 37 (12), 2011, pp. 1112-1136. Winner of the Highly Commended Award for papers published in Managerial Finance in 2011.

Gregory Gelles, John S. Howe, and Xuejing Xing, “Does It Pay to Disclose Managerial Earnings Information Early?,” Journal of Financial Research 34 (2), 2011, pp. 365-386.

Matthew D. Crook and John S. Howe, “Analyst Coverage Initiations for Banking IPOs,” Banks and Banking Systems Volume 6, issue 2, 2011.

John S. Howe and David A. Maslar, “The Intra-Industry Effects of the Acquisition of Dow Jones,” Applied Economics Letters, 2011, 18, pp. 551-554. Abstracted in the Journal of Economic Literature, September 2011.

John S. Howe and Chris Tamm, “Corporate Governance of Dual-Class Firms,” Advances in Financial Economics 14, 2011, pp. 1-18.

John S. Howe and Ravi Jain, “Testing the Trade-off Theory of Capital Structure,” Review of Business 31(1), Fall 2010, pp. 54-67.

John S. Howe and Shaorong Zhang, “SEO Cycles,” The Financial Review 45(3), August 2010, pp. 729-741.

Luis Garcia-Feijoo and John S. Howe, “Financial Contracting and Managerial Flexibility,” Quarterly Journal of Finance and Accounting 49 (2), Spring 2010, pp. 5-26. Abstracted in the Journal of Economic Literature, March 2012.

Matteo P. Arena and John S. Howe, “Takeover Exposure, Agency, and the Choice Between Private and Public Debt,” Journal of Financial Research 32(2), Summer 2009, pp. 199-230. Abstracted in the Journal of Economic Literature, March 2010.

John S. Howe, Stephen P. Ferris, Wei Rowe, and Carol Wang, “Share Repurchase, Information Asymmetry, and Managerial Market Timing: A Cross Country Analysis,” The International Journal of Finance 21, No. 4, pp. 6201 – 6223. Abstracted in the Journal of Economic Literature, March 2011.

John S. Howe and Brett C. Olsen, “Security Choice and Corporate Governance,” European Financial Management 15(4), July 2009, pp. 814-843.

John S. Howe, Emre Unlu, and Xuemin (Sterling) Yan, “The Predictive Content of Aggregate Analyst Recommendations,” Journal of Accounting Research 47(3), June 2009, pp. 799-821. Abstracted in the Journal of Economic Literature, September 2009. Abstracted in the CFA Digest, November 2009.

John S. Howe and K. Stephen Haggard, “Bank Dividends: Increasing, Decreasing, and Unresponsive,” Journal of Applied Financial Research 2, Fall 2008, pp. 1-32.

Paul Brockman, John S. Howe, and Sandra Mortal, “Stock Market Liquidity and the Decision to Repurchase,” Journal of Corporate Finance 14, 2008, pp. 446-459. Abstracted in the Journal of Economic Literature, March 2009.

Matteo P. Arena and John S. Howe, “A Face Can Launch a Thousand Shares,” Journal of Behavioral Finance, 9, 2008, pp. 107-116. Abstracted in the Journal of Economic Literature, June 2009.

Charles W. Howe and John S. Howe, “The Performance of Water Service Industry Stock Prices and Sensitivity to Highly Publicized Contract Failures,” Water International 31, 2006, pp. 448-454

John S. Howe and Hongbok Lee, “The Long Run Stock Performance of Preferred Stock Issuers,” Review of Financial Economics 15, 2006. pp. 237-250. Abstracted in the Journal of Economic Literature, March 2007.

John S. Howe and Ravi Jain, “Share Repurchase Programs by Banks,” Banks and Banking Systems 1, 2006, pp. 90-102.

Luis Garcia- Feijóo, John S. Howe, and Tie Su, “Completely Predictable and Fully Anticipated? Step Ups in Warrant Exercise Prices,” Applied Economic Letters 12, 2005, pp. 561-565. Abstracted in the Journal of Economic Literature, March 2006.

Luis Garcia- Feijóo and John S. Howe, “The Matching of Financial and Real Investment Options: Evidence from Warrant Calls,” The Journal of Financial Research 28, 2005, pp. 609-620. Abstracted in the Journal of Economic Literature, June 2006.

Luis Garcia- Feijóo, John S. Howe, and Randy D. Jorgensen, “Liquidity Costs and the Information Content of Calls of Warrants: Intra-Industry Evidence,” Investment Management and Financial Innovations 1, 2005, pp. 70-81. Abstracted in the Journal of Economic Literature, September 2005.

John S. Howe and Hongbok Lee, “Corporate Governance Characteristics of Firms that Issue Preferred Stock,” Advances in Financial Economics 9, 2004, 29-53.

John S. Howe and Ravi Jain, “The REIT Modernization Act of 1999,” Journal of Real Estate Finance and Economics 28, 2004, 369-388.

Xuejing Xing and John S. Howe, “The Empirical Relationship between Risk and Return: Evidence from the U.K. Stock Market,” International Review of Financial Analysis 12, 2003, pp. 329-346. Abstracted in the Journal of Economic Literature, December 2003.

John S. Howe and Kent P. Ragan, “Price Discovery and the International Flow of Information,” Journal of International Financial Markets, Institutions & Money, July 2002, pp. 201-215. Abstracted in the CFA Digest, November 2002. Abstracted in the Journal of Economic Literature, December 2002.

John S. Howe and Tie Su, “Discretionary Reductions in Warrant Exercise Prices,” Journal of Financial Economics, August 2001, pp. 227-252. Abstracted in the Journal of Economic Literature, December 2001.

Janice C.Y. How and John S. Howe, “Warrants in Initial Public Offerings: Empirical Evidence,” Journal of Business, July 2001, pp. 433-457. Abstracted in the Journal of Economic Literature, December 2001.

John S. Howe, Deryl W. Martin, and Bob G. Wood, Jr., “Much Ado about Nothing: Long-Term Memory in Pacific Rim Equity Markets,” International Review of Financial Analysis, November 1999, pp. 139-151. Abstracted in the Journal of Economic Literature, March 2001.

John S. Howe, Ji-Chai Lin and Ajai K. Singh, “Clientele Effects and Cross-Security Market Making: Evidence from Calls of Convertible Preferred Securities,” Financial Management, Winter 1998, pp. 41-52.

John S. Howe and Yang-pin Shen, “Information Associated with Dividend Initiations: Firm-Specific or IndustryWide?,” Financial Management, Autumn 1998, pp. 17-26. Abstracted in the I/B/E/S Research Bibliography, 6th edition (May 2000).

John S. Howe, Deryl W. Martin and Bob G. Wood, Jr., “Fractal Structure in the Pacific Rim,” Advances in Pacific Basin Financial Markets, Vol. IV, JAI Press, 1998, pp. 143-158.

Janice C.Y. How and John S. Howe, “Sources of Return Volatility: Evidence from Australian ADRs,” Advances in Pacific Basin Financial Markets, Vol. III, JAI Press, 1997, pp. 101-110.

Sandra Chamberlain, John S. Howe and Helen Popper, “The Exchange Rate Exposure of U.S. and Japanese Banking Institutions,” Journal of Banking and Finance, June 1997, pp. 871-892.

John S. Howe, Soktae Kim and Euiseong Lee, “The Aftermarket Performance of IPOs: The Korean Experience,” Advances in Pacific Basin Financial Markets, Vol. II, JAI Press, 1996, pp. 157-169.

John S. Howe, “In-the-Money Warrant Extensions,” The Financial Review, May 1996, pp. 407-429

John S. Howe and Bob G. Wood, Jr., “An Investigation of Calendar Anomalies in Pacific Rim and U.S. Equity Markets,” Studies in the Financial Markets of the Pacific Basin, JAI Press, 1994, pp. 19-37.

John S. Howe and Peihwang Wei, “The Financing Decisions of REITs: The Case of Warrant Extensions,” Journal of Real Estate Finance and Economics, May 1994, pp. 235-243.

Mustafa Chowdhury, John S. Howe and Ji-Chai Lin, “The Relation between Aggregate Insider Transactions and Stock Market Returns,” Journal of Financial and Quantitative Analysis, September 1993, pp. 431-437.

John S. Howe and Peihwang Wei, “The Valuation Effects of Warrant Extensions,” Journal of Finance, March 1993, pp. 305-314. Abstracted in the Journal of Economic Literature, September 1993

W. Van Harlow and John S. Howe, “Leveraged Buyouts and Insider Nontrading,” Financial Management, Spring 1993, pp. 109-118.

John S. Howe, Jeff Madura and Alan L. Tucker, “International Listings and Risk,” Journal of International Money and Finance, February 1993, pp. 99-110. Abstracted in the Journal of Economic Literature, September 1993.

John S. Howe and Ji-Chai Lin, “The Bid-Ask Spreads of American Depositary Receipts,” Pacific-Basin Capital Markets Research, Vol. III, 1992, pp. 391-404.

John S. Howe and Ji-Chai Lin, “Dividend Policy and the Bid-Ask Spread: An Empirical Analysis,” Journal of Financial Research, Spring 1992, pp. 1-10. Abstracted in the CFA Digest, Summer 1992.

John S. Howe and Jeff Madura, “The Impact of International Listings on Risk: Implications for Capital Market Integration,” Journal of Banking and Finance, December 1990, pp. 1133-1142. Abstracted in the Journal of Economic Literature, June 1992.

John S. Howe and James D. Shilling, “REIT Advisor Performance,” Journal of the American Real Estate and Urban Economics Association, Winter 1990, pp. 479-500.

Ji-Chai Lin and John S. Howe, “Insider Trading in the OTC Market,” Journal of Finance, September 1990, pp. 1273-1284. Abstracted in the Journal of Economic Literature, March 1991.

John S. Howe and James D. Shilling, “Capital Structure Theory and REIT Security Offerings,” Journal of Finance, September 1988, pp. 983-993. Abstracted in the Journal of Economic Literature, March 1989.

John S. Howe and Kathryn Kelm, “The Stock Price Impacts of Overseas Listings,” Financial Management, Autumn 1987, pp. 51-56

Douglas A. Houston and John S. Howe, “The Ethics of Going Private,” Journal of Business Ethics, October 1987, pp. 519-525.

John S. Howe, “Good News and Bad News: Does the Stock Market Overreact?,” AAII Journal, October 1987, pp. 7-10.

Keith C. Brown and John S. Howe, “On the Use of Gold as a Fixed-Income Security,” Financial Analysts Journal, July/August 1987, pp. 73-76.

R. Corwin Grube, O. Maurice Joy and John S. Howe, “Some Evidence on Stock Returns and Security Credit Regulations in the OTC Equity Market,” Journal of Banking and Finance, March 1987, pp. 17-31.

Douglas A. Houston and John S. Howe, “An Economic Rationale for Couponing: Reply,” Quarterly Journal of Business and Economics, Autumn 1986, pp. 75-76.

Douglas A. Houston and John S. Howe, “An Economic Rationale for Couponing,” Quarterly Journal of Business and Economics, Spring 1985. Abstracted in the Journal of Economic Literature, June 1986.

John S. Howe and William L. Beedles, “Defensive Investing Using Fundamental Data,” The Journal of Portfolio Management, Winter 1984, pp. 14-17.

John S. Howe and Gary G. Schlarbaum, “S.E.C. Trading Suspensions: Empirical Evidence,” Journal of Financial and Quantitative Analysis, September 1986, 323-333. Abstracted in the CFA Digest, Spring 1987.

John S. Howe, “The Role of Patents in a Free Society,” The Free Philosopher Quarterly, Spring 1984, pp. 1-4.

John S. Howe, “A Rose By Any Other Name? A Note on Corporate Name Changes,” The Financial Review, November 1982, pp. 271-278

John S. Howe and Scott O'Brien, “CEO Compensation Practices Around Spinoffs,” Advances in Financial Economics, forthcoming.