• Associate Professor of Business and Accounting, Furman University
  • 864.294.3312
  • Hipp Hall 201C
  • thomas.smythe@furman.edu

Tom joined the Furman faculty in 2001 after teaching two years at the University of Tennessee at Chattanooga. After graduating from Furman in 1985, he spent 4 years in the Army as an Engineer Officer, including tours of duty in Honduras and Costa Rica. After leaving the Army in 1989, Tom worked for what was Mobil Oil for almost 7 years in New York City and Fairfax, Virginia where he was a systems and business analyst.

Since finishing his PhD at the University of South Carolina, Tom has published numerous articles in both academic and practitioner journals, has been quoted or his work cited in the Wall Street Journal, Financial Times, USA Today, Consumer Reports, Money Magazine, CNN Money, the Chicago Tribune, and the Miami Herald.


To the extent possible, my classes are interactive.​

Title Description

Financial Concepts for the Non-Financial Manager

This course is designed for individuals who require a basic understanding of business finance. The course focuses on the significance of the time value of money, how it is applied in the corporate environment, and the mechanics of how to use it. Additionally, the course introduces the basic concepts of risk and return, how to calculate basic measures of risk, and understanding the notion of diversification and how it can be achieved. At the conclusion of the course, students will be able to use these tools to value stocks, bonds and annuity streams.

Project Evaluation and Capital Budgeting

This course is designed for individuals who need an understanding of the discounted cash flow techniques necessary to evaluate whether corporate projects should be accepted or rejected. The course introduces the concepts of Net Present Value and Internal Rate of Return, discusses how appropriate discount rates are determined for projects, and how to apply the tools to estimated cash flows from projects.

  • Chiles Harril Award, 1999
  • "When Does CalPERS' Activism Add Value?", co-authored with Chris McNeil and Philip English, forthcoming in the Journal of Economics and Finance
  • "The Impact of Advertising on Fund Flows in Alternative Distribution Channels", co-authored with Jeff Yankow, Vance Lesseig, and Michael Jones, International Journal of Financial Research, Volue 2, No. 1, p2-22
  • "Regulating Information Disclosure in Mutual Fund Advertising in the Untied States: Will Consumers Use Cost Information," co-authored with Beth Pontari and Andrea Stanaland, the Journal of Consumer Policy, Volume 32, 333-351
  • "Undergraduate Management Education for Sustainability: A Perspective from the Liberal Arts," co-authored with Kirk Karwan and Robert Underwood, Chapter in the Management Education for Global Sustainability, Vol. 8 in the Research Management Education and Development Series. Charles Wankel and James A.F. Stoner, editors. IAP Publishers, Charlotte, NC
  • "The Paradigm of Competition: The Business Perspective", Chapter 10, Competition: A Multidisciplinary Analysis, co-authored with Kirk Karwan, Wade Worthen, Scott Henderson, Paul Rasmussen, and Lloyd Benson, editors, Sense Publishers
  • "Division Manager Lobbying Power and the Allocation of Capital in Multi-Divisional Firms", co-authored with Chris McNeil, Financial Review, Volume 44, No. 1, 59-85
  • "The Customer Orientation of Financial Advisers", co-authored with Diane Halstead, Michael Jones, and Vance Lesseig, Journal of Financial Services Marketing, Volume 13, No. 3, 183-192
  • "The Impact of Advertising on Mutual Fund Flows: The Story of the Finnish Market", co-authored with Timo Korkeamaki and Vesa Puttonen, International Journal of Bank Marketing, Volume 25, No. 7, 434-451
  • "Mutual Fund Advertising: Should Investors Take Notice", co-authored with Michael Jones, Vance Lesseig, and Valerie Taylor, Journal of Financial Services Marketing, Volume 12, No. 3, 242-254
  • "The Price-Volume Relationship and Mispricing in the Market Model", co-authored with D. Michael Long and Vance Lesseig, Journal of Academy of Business and Economics, January 2007
  • "The Effect of Distribution Channels on Mutual Fund Flows," co-authored with Mikko Knuutila and Vesa Puttonen, Journal of Financial Services Marketing, Volume 12, No. 1, 88-96
  • "The Impact of Fund Sponsorship on Fund Expenses in Institutional and Retail Fund Markets," co-authored with Michael Long and Vance Lesseig, Journal of International Finance and Economics, Volume 2, No. 1, 39-49
  • "Performance of Mutual Funds Operated by Financial Services Firms", co-authored with D. Michael Long and Vance Lesseig, Review of Business Research, Volume 5, No. 2, 127-134
  • "Financial Advisors and Multiple Share Class Mutual Funds", co-authored with Michael Jones and Vance Lesseig, recipient of University of Tennessee at Chattanooga Faculty Research Grant, Financial Services Review, 14, 1-20
  • "Financial Advisors and Mutual Fund Selection", co-authored with Michael Jones and Vance Lesseig, Journal of Financial Planning, 18(3), March 2005, 64-70
  • "The 'CalPERS Effect' Revisited , co-authored with Phil English and Chris McNeil presented at the 2000 FMA meeting, Journal of Corporate Finance, 10, 157-174
  • "Effects of Market Segmentation and Bank Concentration on Mutual Fund Expenses and Returns: Evidence from Finland" co-authored with Timo Korkeamaki forthcoming in the September 2004 issue of the European Financial Management journal
  • "EVA Implementation Issues: The Story of One Company", co-authored with Leisa Cagle and John Fulmer, Journal of Corporate Accounting and Finance (14) March/April 2003, 65-70
  • "An Examination of Information Content in Mutual Fund Advertising" co-authored with Michael Jones, Journal of Consumer Affairs 37 (1), 48-67
  • "Growing Sales and Losing Cash: Assisting Your Small Business Customer with Cash Flow Management", co-authored with John Fulmer, Howard Finch, and Tom Payne, July 2002 Commercial Lending Review
  • "Managing Interest Rate Risk From the Community Bank's Perspective", co-authored with Greg Henry and John Fulmer, June 2002, Bank Accounting and Finance
  • "Gains to Mutual Fund Sponsors Offering Multiple Share Class Funds", co-authored with D. Michael Long and Vance Lesseig, The Journal of Financial Research XXV, 2002, p. 81-98
  • "Making Your Loan Package Competitive", co-authored with John Fulmer, Spring 2001, Commercial Lending Review
  • "Using Net Present Value in Cooperatives", co-authored with John Fulmer and Fred Johnson
  • Fall 2000, The Cooperative Accountant
  • "Evaluating Alternative Loan Packages", co-authored with John Fulmer, September/October 2000, Journal of Construction Accounting and Taxation
University of South Carolina
George Mason University
Furman University

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