1. FULL CURRICULUM VITAE (1-30-2002)
I. Arthur L. Houston Jr.
II. EDUCATION
University of Washington 1977-1985 Ph.D. Business Administration
Pepperdine University 1975-1976 MBA
U.S. Naval Postgraduate School 1965-1967 BSEE Electronics Engineering
Miami University 1958-1961 BA Mathematics
Dissertation: The Default Risk and Interest Rate Risk of the Price Level Adjusted Mortgage
Compared to the Standard Fixed Payment Mortgage
III. TEACHING POSITIONS AND RANKS HELD
San Diego State University Associate Professor 1991-present Finance
San Diego State University Assistant Professor 1986-1991 Finance
Portland State University Assistant Professor 1981-1986 Finance & Real Estate
University of Washington Teaching Assistant 1979-1981 Macro Economics
Other Experience
Career Officer; U.S. Marine Corps, 1957-1977
IV. TEACHING EFFECTIVENESS
Curriculum Development and Teaching Innovations
Created a new course: Fin-617, Financial Management II.
Teaching Awards
SDSU, Outstanding Finance Faculty Award 1990
SDSU, Outstanding Finance Faculty Award 1989
SDSU, Outstanding Finance Faculty Award 1988

2. V. PROFESSIONAL GROWTH
Articles in Refereed Journals
“Taxes and the Choice of Issuing Preferred Stock Versus Debt,” Journal of the American
Taxation Association, with Carol Olson Houston and David Ely [accepted for publication in the
Spring 2002 issue].
“An Improved Proxy for Taxes Paid”, Journal of Business and Behavioral Sciences, Volume 7,
Number 1, Fall 2000, with Carol Olson Houston.
"Can Financial Markets Discipline Banks? Evidence From the Markets for Preferred Stock"
Journal of Applied Business Research, Winter 1995-1996, with David Ely and Carol Olson
Houston.
“Inflation Risk, Payment Tilt, and the Design of Partially-Indexed Affordable Mortgages," Journal
of the American Real Estate and Urban Economics Association, May 1993,with William Scott
and A. Quang Do.
"The Changing Uses of Preferred Stock," Management Accounting, December 1991, with Carol
Olson Houston.
"Preferred Stock Financing: Trends in the 80s," Journal of Applied Business Research, Summer
1991, with Carol Olson Houston.
"Financing with Preferred Stock," Financial Management, Autumn 1990, with Carol Olson
Houston.
"Relocation Opportunities and Mortgage Default." Journal of the American Real Estate and
Urban Economics Association, Spring 1989, with S. Michael Giliberto.
"Borrower Choice: Converting a Mortgage," Housing Finance Review, Summer 1989, with
Antony C. Cherin.
"A Comparison of the Reinvestment Risk of the Price Level Adjusted Mortgage and the Standard
Fixed Payment Mortgage," Journal of the American Real Estate and Urban Economics
Association, Spring 1988.
"The Tax Reform Act of 1986: Is It All Bad?" The Real Estate Finance Journal, Spring 1987, with
Carol Olson Houston.
Unpublished, Refereed papers Before Professional Conferences

3. “Improved Proxies for Taxes Paid,” with C. Houston, Annual Meeting of the American Society of
Business and Behavioral Sciences, Las Vegas NV, February 19, 2000.
“Empirical Results—Characteristics of Industrial Firms That Issue Preferred Stock,” with C.
Houston, Annual Meeting of the American Society of Business and Behavioral Sciences, Las
Vegas NV, February 18, 2000.
“The Choice of Preferred Stock by Banks,” with D. Ely and C. Houston, The Academy of Financial
Services, San Francisco, October 1992.
"Inflation Risk, Payment Tilt, and the Design of Partially-Indexed Affordable Mortgages," with W.
Scott and A. Q. Do, Financial Management Association annual meeting, Chicago, October 1991.
"Empirical Results - Characteristics of Firms Issuing Preferred Stock," with C. Houston, Western
Decision Sciences Institute annual meeting, Lihue, Kauai, March 1991.
"Characteristics of Firms Using Preferred Stock: An Empirical Examination," with C. Houston,
Financial Management Association annual meeting, Boston, October 1989.
"Non-neutral Inflation and the Relative Default Risk of Indexed Mortgages" American Real
Estate and Urban Economics Association, New York, December 1988.
"Financing With Preferred Stock: Trends in the 1980's," with C. Houston, annual meeting of the
Financial Management Association, New Orleans, Louisiana, October 1988.
"When Should Homeowners Convert Their Convertible Adjustable Rate Mortgages?," with A.
Cherin, annual meeting of the American Real Estate Society, San Francisco, California, April
1988.
"Monte Carlo Simulation Estimates of the Effect of Borrower Relocation Opportunities on
Mortgage Default Rates," with S. Giliberto, annual meeting of the Western Decision Sciences
Institute, March 1988.
"A Theory of Morgage Default and Residential Mobility," with S. Giliberto, annual meeting of
the American Real Estate and Urban Economics Association, Chicago, December 1987.
"The Price Risk and Reinvestment Risk of the Price Level Adjusted Mortgage Compared to the
Standard Fixed Rate Mortgage" annual meeting of the American Real Estate Society, Denver,
Colorado, October 1985.
Reprints
“Financing with Preferred Stock,” in Advances in Business Financial Management: A Collection of
Readings, 2nd ed., P. Cooley, editor: Dryden Press, 1996, with C. Houston.

4. “How CFOs Use Preferred Stock,” Bowne Review for CFOs & Investment Bankers, Vol 3 No. 4
(February, 1992). Abridged reprint based on “The Changing Uses of Preferred Stock,”
Management Accounting, December 1991, with C. Houston.
Research Monographs
“Mobile Home Study: Washington,” Federal Home Loan Bank of Seattle, 1978, with J. Lessinger.
“Mobile Home Study: Idaho,” Federal Home Loan Bank of Seattle, 1978, with J. Lessinger.
“Mobile Home Study: Oregon,” Federal Home Loan Bank of Seattle, 1979, with J. Lessinger).
Publications In Process
“The New Economy: Industry Usage of Preferred Stock in the Late 1990s,” with D. Ely and C.
Houston, data collected and analyzed, initial draft in process.
Scholarly Awards
Best Finance Paper, Western Decision Sciences Institute, March 1991, with C. Houston.
Meritorious Performance and Professional Promise Award, San Diego State University, March
1989.
Professionalmemberships
American Finance Association, American Real Estate and Urban Economics Association, Financial
Management Association, Western Finance Association, American Real Estate Society.
Conferences attended
American Society of Behavioral Sciences, 2000
American Finance Association, 1980–1997
American Real Estate and Urban Economics Association, 1980–1996
Financial Management Association, 1980–1993
American Real Estate Society, 1986-1991
Western Decision Sciences Institute, 1986–1992, 1994, 1995
Academy of Financial Services, 1992

5. VI. SERVICE FOR THE UNIVERSITY AND THE COMMUNITY
Committee Assignments
Member, Senate Committee for Academic Resources and Planning, Spring 2001-present.
Member, Campus Development Committee, 1991–1995.
Member, College Steering Committee, 1993–1995.
Member, College Ad Hoc Faculty Governance Committee, 1991–1992.
Chair, College Graduate Programs Committee, 1992–1993.
Member, Department of Finance Retention, Tenure and Promotion Committee (continuing)
Member, Department of Finance Planning Committee (continuing)
Reviewer for
Real Estate Economics
Financial Management
Journal of Banking and Finance
Decision Sciences