EDUCATION AND PROFESSIONAL CERTIFICATIONS

JOHN L. CAMPBELL, Ph.D., CPA Assistant Professor of Accounting Address Contact Information 228 Brooks Hall Email: johnc@uga.edu Terry College of Business J.M. Tull School of Accounting Phone: (706) 542-3595 The University of Georgia Fax: (706) 542-3630 Athens, Georgia 85721-0108 SSRN: http://papers.ssrn.com/sol3/cf_dev/absbyauth.cfm?per_id=1001697 RESEARCH INTERESTS The effect of accounting and tax information on asset prices, and financing, investing and financial reporting decisions; fair value; compensation EDUCATION AND PROFESSIONAL CERTIFICATIONS Ph.D., Management (Major area: Accounting; Minor area: Finance), University of Arizona, May 2010, GPA: 4.0, GMAT: 730 MS, Accountancy, Wake Forest University, 2001, GPA: 3.9 BS, Analytical Finance, with honors, Wake Forest University, 2001, GPA: 3.8 Certified Public Accountant (certified in Illinois since 2001) JOURNAL ARTICLES Campbell, J. The Fair Value of Cash Flow Hedges, Future Profitability and Stock Returns. Contemporary Accounting Research, forthcoming. Campbell, J., H. Chen, D. Dhaliwal, H. Lu, and L. Steele. The Information Content of Mandatory Risk Factor Disclosures in Corporate Filings. Review of Accounting Studies, forthcoming. Campbell, J., J. Chyz, D. Dhaliwal, and W. Schwartz, Jr., 2013. Did the 2003 Tax Act Increase Corporate Investment? Journal of the American Taxation Association, forthcoming. Campbell, J., D. Dhaliwal, and W. 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. Schwartz, Jr., 2010. Equity Valuation Effects of the Pension Protection Act of 2006. Contemporary Accounting Research 27 (2), 469-536. OTHER PUBLICATIONS Campbell, J., and W. Schwartz, Jr., 2011. Defined Benefit Plan Headache: Rule Changes Boost Volatility of Pension Cash Flow. Journal of Corporate Accounting and Finance 23 (1), 47-58. Aldhizer, G., T. Baker, J. Campbell, and D. Martin, 2002. When Earnings Management Becomes Fraud. Internal Auditing 17 (4), 14-21. John L. Campbell Page 1 of 7 5/28/2013

WORKING PAPERS Are ex-ante CEO severance pay contracts consistent with efficient contracting? with Brian D. Cadman and Sandy Klasa Under 2 nd round review at the Journal of Financial and Quantitative Analysis Limited Attention to Accounting Comparability? An Analysis of Price Contagion around Earnings Restatements with Eric Yeung Presented at the 2012 American Accounting Association (AAA) Annual Meeting, Washington, DC, August 2012 Presented at the 2012 Hong Kong University of Science and Technology Accounting Research Symposium, December 2012 Presented at the AAA 2013 Financial Accounting and Reporting Section (FARS) Mid-year Conference, San Diego, CA, January 2013 Under review Did SOX Fully Address Audit Committee Oversight?: An Empirical Analysis of the Effects of Equity on Audit Committee Independence with James Hansen, Chad A. Simon, and Jason L. Smith Presented at AAA 2012 Auditing Section Mid-year Conference in January 2012, Savannah, GA Under review The Valuation Consequences of U.S. Multinational Corporations Foreign Cash Holdings with Dan S. Dhaliwal, Linda Krull, and Casey Schwab Accepted for presentation at the 2013 American Accounting Association (AAA) Annual Meeting, Anaheim, CA, August 2013 Do Sophisticated Investors use the Information provided by the Fair Value of Cash Flow Hedges? with Bill Schwartz and Jimmy Downes Presented at the 2012 American Accounting Association (AAA) Annual Meeting, Washington, DC, August 2012 MEDIA/PRACTITIONER CITATIONS Institute of Chartered Accountants in England and Wales (ICAEW) s October 2011 report titled Reporting Business Risks: Meeting Expectations The Information Content of Mandatory Risk Factor Disclosures in Corporate Filings Financial Accounting Standards Advisory Council (FASAC) s topic on Other Comprehensive Income discussed at the December 8, 2011 meeting The Fair Value of Cash Flow Hedges, Future Profitability, and Stock Returns TEACHING EXPERIENCE Intermediate Financial Accounting II, University of Georgia Spring 2013: Average ratings across three sections: 4.95 / 5.00 Spring 2012: Average ratings across three sections: 4.93 / 5.00 Spring 2011: Average ratings across three sections: 4.68 / 5.00 John L. Campbell Page 2 of 7 5/28/2013

Advanced Financial Accounting, University of Arizona, Fall 2008 Instructor rating: 4.55 / 5.00 Introduction to Financial Accounting, Wake Forest University, Spring 2002 Average overall ratings across two sections: 4.60 / 5.00 ACADEMIC PRESENTATIONS OF WORKING PAPERS Michigan State University, October 2013 (scheduled) Financial Accounting and Reporting Section (FARS) Mid-year Meeting, January 2013 University of Tennessee, September 2012 American Accounting Association (AAA) Annual Meeting, August 2012 Conference on Financial Economics and Accounting (FEA), November 2011 University of Georgia, October 2011 Georgia State University, October 2011 American Accounting Association (AAA) Annual Meeting, August 2011 University of Georgia, January 2011 Wake Forest University, November 2010 Indiana University Bloomington, March 2010 University of Washington Seattle, March 2010 Carnegie Mellon University, March 2010 University of Pennsylvania (Wharton), February 2010 Dartmouth College, February 2010 University of California at Los Angeles, February 2010 University of Michigan, February 2010 University of Georgia, February 2010 University of California at Berkeley, February 2010 University of Missouri at Columbia, February 2010 Financial Accounting and Reporting Section (FARS) Mid-year Meeting, January 2010 University of Arizona, October 2009 University of Arizona, October 2008 Presentations by co-authors: American Accounting Association (AAA) Annual Meeting, August 2013 (by co-author) Hong Kong University of Science and Technology Accounting Research Symposium, December 2012 (by co-author) Syracuse University, September 2012 (by co-author) Lehigh University, September 2012 (by co-author) American Accounting Association (AAA) Annual Meeting, August 2012 (by co-author) Oklahoma State University, April 2012 (by co-author) Auditing Section Mid-year Meeting, January 2012 (by co-author) Texas Christian University, November 2011 (by co-author) Texas Tech University, November 2011 (by co-author) Utah State University, November 2011 (by co-author) Lehigh University, November 2011 (by co-author) University of Oklahoma, October 2011 (by co-author) INSEAD Business School (France), October 2011 (by co-author) University of Technology, Sydney, July 2011 (by co-author) John L. Campbell Page 3 of 7 5/28/2013

Ohio State University, April 2011 (by co-author) University of Arizona, December 2010 (by co-author) Singapore Management University, October 2010 (by co-author) Macquarie University (Australia), August 2010 (by co-author) American Accounting Association (AAA) Annual Meeting, August 2010 (by co-author) University of Adelaide (Australia), March 2010 (by co-author) National University of Singapore, January 2010 (by co-author) University of Texas at Dallas, April 2009 (by co-author) Oklahoma State University, October 2008 (by co-author) CONFERENCES ATTENDED Financial Accounting Standards Board (FASB) Faculty Program, 2013 American Accounting Association (AAA) Annual Meeting, 2010-2012 Southeastern Schools Accounting Research Conference (SESARC), 2011-2013 AAA/Deloitte Foundation Robert M. Trueblood Seminar, 2012 Financial Accounting and Reporting Section (FARS) Mid-year Meeting, 2010-2011, 2013 Auditing Section Mid-year Meeting, 2012 Conference on Financial Economics and Accounting (FEA), 2011 American Accounting Association (AAA) New Faculty Consortium, 2011 Contemporary Accounting Research Conference, 2010 University of Illinois/Deloitte IFRS/Tax Symposium, 2008 SERVICE Profession: Member, 2012-2013 AAA/Grant Thornton Doctoral Dissertation Awards for Innovation in Accounting Education Committee, American Accounting Association Moderator FARS Mid-year Meeting, San Diego, January 2013 o Executive Compensation Session, Chris Armstrong (Wharton) Discussant AAA Annual Meeting, Washington, DC, August 2012 o Does the Cost of Equity Capital Matter? Evidence on CEO Turnovers and Capital Investment by Jinshuai Hu (Xiamen University) and Z. Jun Lin (Hong Kong Baptist University) AAA Annual Meeting, Denver, CO, August 2011, 2 papers o Cash Flow Patterns as a predictor of Future Operating Income by Victoria Dickinson (University of Mississippi) o The Extent of Information Efficiency in the Credit Default Swap Market: Evidence from Post Announcement Returns by Nicole Jenkins (Vanderbilt University), Michael Kimbrough (University of Maryland), and Juan Wang (Singapore Management University) John L. Campbell Page 4 of 7 5/28/2013

FARS Mid-Year Meeting, Tampa, FL, January 2011: A Convenient Scapegoat: Fair Value Accounting by Commercial Banks during the Financial Crisis by Brad Badertscher, Jeff Burks, and Peter Easton (all at University of Notre Dame) AAA Annual Meeting, San Francisco, CA, August 2010: Prediction of Equity Values for Venture Capital Backed Firms by Georg Keienburg (University of Cologne) and Soenke Sievers (UNC-Chapel Hill) FARS Mid-Year Meeting, San Diego, CA, January 2010: Mandatory Adoption of IFRS and Properties of Analysts Information Environment by Cristof Beuselinck (Tilburg University), Philip Joos (University of Rochester), Sofie Van der Meulen (Tilburg University), Inder K. Khurana (University of Missouri) Ad-hoc Reviewer Journal of Finance Review of Accounting Studies Accounting Horizons Journal of Accounting and Public Policy Journal of Pension Economics and Finance Journal of Business Research Conferences: o FARS Mid-Year Meeting (2011, 2012, 2013) o AAA Annual Meeting (2011, 2012, 2013) o Chinese Accounting Professors Association of North America (CAPANA) conference (2011) Member since 2006: American Accounting Association; Financial Accounting and Reporting Section, AAA; American Tax Association University/Department: Independent study advisor, Patrick Ready, Spring 2013 Faculty Recruiting, Accounting Ph.D. Rookie Recruiting and Research Camp attendee (University of Miami), 2012 Advancement Committee for doctoral student Lisa Austin, 2012-2013 Roosevelt Scholars Faculty Mentor, University of Georgia Honors College, for honors student Jesse Chan, Fall 2012 Accounting department representative, Terry College Graduation Convocation, Terry Business School, University of Georgia, May 2011 Organized and co-taught SAS training course to incoming doctoral students, University of Georgia, Summer 2011; University of Arizona, Summer 2008 and Summer 2007 Organized curriculum and taught M&A valuation techniques to selected group of undergraduates, Terry Business Academy, University of Georgia, Summer 2011 John L. Campbell Page 5 of 7 5/28/2013

Member, Curriculum Committee, Accounting Department, University of Georgia, 2010 present Member, Awards Committee, Accounting Department, University of Georgia, 2012 present Student-feedback panel member during AACSB accreditation process, University of Arizona, 2007 PRIOR ACCOUNTING AND PROFESSIONAL EXPERIENCE Research and Teaching Assistant, University of Arizona, 2007-2010 Advanced Financial Accounting, and Accounting Theory, Judi Doing, 2009-2010 Advanced Financial Accounting, Tom Klein and Judi Doing, 2008-2009 Intermediate Financial Accounting, William C. Schwartz, Jr., 2007-2008 Financial Reporting Manager, Remington Arms Company, Inc., 2004-2007 Reported to Chief Financial Officer; responsible for internal and external financial reporting; wrote Forms 10-K, 10-Q, 8-K, among others; prepared forecast and budget, as well as Board of Directors financial communications; prepared management team for and participated in quarterly analyst conference calls; responsible for development and oversight of four employees Senior Auditor, PricewaterhouseCoopers LLP, 2002-2004 SEC expertise in financial services and manufacturing (audits, quarterly reviews, comment letters, registration statements, comfort letters); technical experience on pensions and other compensation, derivatives, off-balance sheet entities, fair value accounting, segment reporting, and restructuring; managed staff of seven; public clients included BB&T Corporation (BBT), Sara Lee Corporation (SLC), Vanity Fair Corporation (VFC), Oakwood Homes Corporation (OHC) and Remington Arms Company (public debt) Mergers and Acquisitions Analyst, Investment Banking Division, Wachovia Securities, Wachovia Corporation, 2001 Sell-side and buy-side advisory services; worked sell-side on a divestiture for a large public company; worked buy-side on a sale for a private equity group HONORS, AWARDS AND SOCIETIES Ernst & Young Teaching Fellow, University of Georgia, 2013-2014 Percy B. Yeargan Outstanding Undergraduate Teacher of the Year, Tull School of Accounting, University of Georgia, Beta Alpha Psi, 2013 UGA Lilly Foundation Teaching Fellowship, 2013-2015 Student Career Development Award, University of Georgia, 2013 Deloitte Foundation Doctoral Fellowship ($25,000), 2009 Eller College Dean s Research Award, 2009 Eller College Dean s Service Award, 2009 Phi Beta Kappa (top 8% of graduating class), 2001 Beta Gamma Sigma (business scholarship society), 2001 Wall Street Journal Student Achievement Award (highest finance GPA), 2001 Golden Key Honor Society, 2001 John L. Campbell Page 6 of 7 5/28/2013

Omicron Delta Kappa (leadership society), 2001 Mortar Board (scholarship, leadership and service society), 2001 Wake Forest University Graduate Assistantship ($22,500), 2001 Financial Executives International (FEI) graduating senior award ($1,000), 2001 William Louis Poteat Scholar ($8,000 per year for four years), 1996-2000 Eagle Scout, 1996 REFERENCES Professor Dan S. Dhaliwal Professor Daniel A. Bens University of Arizona INSEAD 520.621.2366 +33 (0) 1 60 72 92 07 dhaliwal@eller.arizona.edu daniel.bens@insead.edu Professor Benjamin C. Ayers Professor William C. Schwartz, Jr. University of Georgia Oklahoma State University 706.542.3772 918.594.8168 bayers@uga.edu bill.schwartz@okstate.edu John L. Campbell Page 7 of 7 5/28/2013