Bissett Insider

Bissett Stock Market Competition 2020 Winners Announced

Jim Fischer, Bisset Associate Professor of Finance, has announced the much anticipated results of the annual Bissett Stock Market Challenge:

The team of Varune Tillekeratne, Jamal Hussaini and Bidzina Mosiashvili has won the 2019-2020 Bissett Stock Market Competition with a stunning return of 78%.

The 14th edition of the annual competition began in September 2019 and concluded March 31, 2020. This year 14 teams of three students each started the competition with $1,000,000 in virtual money. Through the use of a simulator, they traded in Canadian and US markets, with the ability to sell short and use options. This year was characterized by five months of trading in what would become the end of the longest bull market in history, followed by a month that witnessed the quickest decline into a bear market in history. The TSX Composite Index ended the same time period down 20%.

The winners claim a record of their own. They beat the market by the highest margin achieved by a team since the competition started in 2005. The previous record was made in 2009 by the team of Nicole Rumley, Owen Watson and Brandon Thomson. That team posted a return of 25% when the market indexes were down 35% over the same time period, reeling in the aftermath of the Global Financial Crisis.

The winners will be presented with the trophy for the competition at a future date, when university operations return to normal.

Bissett would like to congratulate the winners and all participants as well as extend a thank you to Jim Fischer for his continued mentorship of the students and the running of this competition; not only an impactful learning experience, but a rite of passage for many of our finance students!

Bissett professors Dorland, Finch and Raby have research published

Congratulations to Bissett professors, AnneMarie Dorland, PhD., David Finch PhD., and Simon Raby, PhD., for having their recent collaborations accepted by various journals: 

Finch, D., Levallet, N., Mccaffery, T., Esponoza, A. and Raby, S. (2020). Dynamic Management Capabilities View of Small to Medium-sized Enterprise Export Readiness: A Canadian Perspective, International Journal of Entrepreneurship and Small Business

Abstract: Increased trade liberalization and advancements in technology have established the foundation for global expansion of Small and Medium-sized Enterprises (SME). However, data demonstrates that most SMEs continue to focus almost exclusively on their domestic market. In this study, we leverage resource orchestration (RO) and dynamic capabilities (DC) to explore the managerial and firm level resources critical to supporting SME export expansion. This includes conducting multi-staged qualitative research to define these resources (N=28). This research identifies company age, operational resources, financial capacity, and employee knowledge and skills. In addition, we isolate dynamic managerial capabilities (DMCs) related to cognition (e.g. managerial experiences and decision-making), social capital (e.g. developing strong internal and external networks) and human capital (e.g. ability to maximize the value of people) as critical to export expansion. Lastly, we use our findings to develop a conceptual model and associated instrumentation of SME export readiness to guide future empirical research.


Dorland, AM., Finch, D., Levallet, N., Raby S., Ross, S. and Swiston, A. (2020) An Entrepreneurial View of Work Universal Work Integrated Learning, Education + Training

Work-integrated learning (WIL) has emerged as a leading pedagogy that blends theory with application. In recent years, policymakers, educators and practitioners have called for a significant expansion of WIL, one which would enable every undergraduate student has at least one WIL experience during their program of study. Despite these appeals, there remains a significant divide between the aspiration of universality and the realities. Consequently, the study ask the following question: How can post secondary institutions expand their WIL initiatives to universal levels that deliver transformative learning?


Bissett professor Simon Raby publishes research and to be guest editor for International Small Business Journal (2022)

Congratulations to Bissett Entrepreneurship professor, Simon Raby, PhD., on having his paper published in the Journal of Small Business Strategy:

Salder, J., Gilman, M., Raby, S. and Gkikas, A. (2020) Beyond linearity and resource-based perspectives of SME growth, Journal of Small Business Strategy, 30(1): 1-17.


Recent debates have seen increased interest in the growth of SMEs. Most research however follows a limited remit, focusing on specific subsets and employing narrow, resource-based perspectives. A consequence is our knowledge is limited on how SME growth occurs more broadly and the critical determinants in this process. This paper addresses this gap, examining SME growth as a multidimensional process rather than an output.
The paper operationalizes a Four Dimensions Conceptual Model through a Systematic Literature Review of 36 studies on the growth process. It identifies a broader set of determinants supporting a multidimensional approach, the pluralistic nature of SME growth embedded in distinctive contexts. Evidence suggests a greater reliance on firm-based Characteristics and Environmental factors in supporting growth, providing critical inputs into forming and reinforcing networks through which firm-based resources are activated. We emphasize the need to test these propositions through more SME research using qualitative and longitudinal

Further to Simon’s most recent publications, he will also be a co-guest editor (Raby, S., Hart, M. and Harney, B.) for the upcoming Special Issue: In Search of the Next Growth Episode: How Firms Catalyze and Sustain Periods, International Small Business Journal. To be published in 2022. Simon is putting out the call for papers to our faculty:
“This Special Issue seeks to encourage scholars to continue the shift from ‘how much’ to ‘how’ firms grow by calling for a broad palette of contexts and analyses which might span industry context through to cultural expectations. Contemporary interest in high growth firms remains central, while language begins to shift to ‘scale-ups’ and ‘scaling’ processes. The challenges of scaling organizations, though frequently explored in policy and practice, remain under researched. This potentially opens new avenues of opportunity as scholars investigate the specific limits of firm growth, whether they be managerial or reliant on other resources and capacities within and outside the firm.”
For the full description of this special issue, Simon has provided the following documentation:  FirmGrowth, ISBJ SI

Bissett International Business professors Frank Cotae and Jacqueline Musabende have research published


Frank Cotae, PhD.,  and Jacqueline Musabende, PhD.,  have had their article titled “A Multi-Country Student and Instructor Review of GlobalDNA Simulation as an Experiential Learning Tool for International Business Courses” accepted as competitive at the 2020 Academy of International Business (AIB) Annual Meeting. This is the 4th year in a row that they have had their research accepted at the AIB Annual Conference. Congratulations to Frank and Jacqueline!

Congratulations again to Jaqueline for another successful semester of partnering her Winter 2020 International Marketing (INBU 3302) students with CUSO International, completing a live experiential consulting project for Tegucigalpa, Honduras. The project resulted in the design of a regional park, a solar energy plant, an urban water purification system and a marketing plan that is ready for developmental funding. This resulted in 70 students receiving a Certificate from CUSO, adding to the 200 strong recipients of this distinction.

Also, congratulations to Frank as he has co-authored a textbook for International Business courses. The textbook is expected to arrive in the bookstores soon!

Cotae, F., Hill, C., Hult, T. and McKaig, T. (2021). Global Business Today. 6th Canadian Edition. McGraw Hill Education.

Bissett students place second in CPA Business Challenge

The CPA Business Challenge case competition was held on Friday, March 7, 2020, in Calgary.

A total of 15 teams representing the University of Calgary, University of Lethbridge, University of Alberta, SAIT, NAIT, MacEwan University, Athabasca University and of course, our two Bissett teams from Mount Royal University participated in this prestigious case competition sponsored by the CPA Education Foundation (CPAEF).

This year, one of our two teams from the Bissett School of Business was placed second overall, which comes with a cash prize of $5,000. An outstanding achievement indeed! Our team that was placed second overall was comprised of the following four students:

Ben Barfuss
Martin Keskin
Chantelle Linares
Linda Tran

The students presented their case with poise and in a very organized fashion. Their analysis of the case was solid and in-depth. The team members confidently answered all questions from the judges. They were fantastic, and without a doubt, the team is worthy of this recognition.

The success of our students is not only indicative of their talent, hard work, and professionalism but also of the rigor of our accounting program and mentorship by our dedicated professors who continue to educate students to strive to attain excellence. (This is the second year in a row that a Bissett team has placed high in this prestigious competition!) Special thanks to our three Accounting faculty, including Rafik Kurji, Simon Magennis and, Osama El-Temtamy, for their hard work, coaching, guidance, and mentorship.

The Bissett School of Business sincerely thanks CPAEF for their generous support over the many years. Thanks to all and congratulations!

Bissett’s Rachael Pettigrew recently featured by Mount Royal Alumni

Bissett professor Rachael Pettigrew, PhD., was recently featured by the Mount Royal University Alumni Association. Rachael teaches organizational behaviour and human resources and her research focus is on organizational culture and policies surrounding employees’ work-life responsibilities with a focus on gender. In this feature, Rachael shares her research on evolving legislation and parental leave.

“Employers can no longer make gendered assumptions about which applicant or employee will be more likely to experience work interruptions or be interested in extensive travel.  As such, I would encourage employers to evaluate their policies for gendered and heterocentric language to avoid unintentionally dissuading individuals from policy usage.”

Read the feature in full, here.

Well deserved recognition Rachael!

Four Bissett Finance students receive scholarships from the Risk Management Association scholarship program!

Congratulations to our four Bissett School of Business students who have received RMA scholarships for the 2019-20 academic year! Then recipients are Angelique Develle, Mohsen Esmaili, Alex Campbell and Luke McKinlay.

The application and winning of scholarships has been an indirect benefit of the RMA Commercial Lending Case Competition  as the competition has created awareness and promotion of the RMA Foundation student scholarships.  This scholarship program is based in the US, is open to Canadian and U.S. students who intend to pursue careers in banking. The selection process is competitive.
For the 2019-2020 academic year, The Foundation awarded scholarships to 92 new students totalling $154,000 USD, and to 22 repeat recipients totalling $55,000 USD. The Scholars represent 83 universities. Overall, The Foundation awards totalled $209,000 with individual awards in the $1,500 to $5,000 range.


Learn more about RMA’s Academic Program initiatives, including The Foundation Scholarship and free RMA Student Membership, on their Student Resource Center website.

Bissett students from Social Innovation and Accounting place third in Alberta Not-for-Profit Association case competition

Bissett students, Mia Baines, Jan Santiago (Accounting Majors) and Kolten Nelson and Xander Jensen (Social Innovation program) placed third in the Alberta Not-for-Profit Association (ANPA) case competition at the University of Alberta in Edmonton. The students, who had been preparing for the competition since late November 2019, were mentored by Catherine Pearl PhD, (Social Innovation) and Simon Magennis, BSc, CPA, (Accounting). The Bissett faculty mentors were contacted by the organizers based on previous involvement in student case competitions. This was the first time that Bissett participated in the ANPA case competition.

L to R: Catherine Pearl (faculty, MRU); Alexander Jensen (student, MRU); Simon Magennis (faculty, MRU); Jan Santiago (student, MRU); Mia Bains (student, MRU); Kolten Nelson (student, MRU); Bob Wyatt (CEO, Muttart Foundation)



The competition took place from Wednesday, February 26 to Sunday, March 1 and involved students from eight universities (seven Canadian, and one from Indiana, U.S.) spending 24 hours analyzing and preparing solutions to a live business problem relating to a local Not-for-Profit organization. They presented their solutions firstly in a preliminary round and then a four-team final, to a judging panel made up of representatives from the not-for-profit organization, local business, University of Alberta, and the competition sponsor, the Muttart Foundation.

The ANPA has been organizing the not-for-profit business case competition since 2013. Canadian and international universities participate each year. This year’s finalists and prizewinners were from:  1. University of Alberta, 2. McMaster University, 3. Mount Royal University, and 4. Laurentian University. Our team received $2,000 to donate to the charity of their choice.

Congratulations to the Bissett team on their win and a special thank you to the faculty mentors, Simon and Catherine for their commitment and service to our Bissett students!


Bissett Human Resources professor Matthew McLarnon has papers accepted

Congratulations to Bissett Assistant Professor, Matthew McLarnon, PhD., for the recent publishing of his research:

A common question asked by researchers involved with large-scale, cross-cultural investigations is ‘how can comparisons of personality factor scores (or other individual difference variables) be facilitated across many different countries?’ Guided by this question, we examined the structure and function of two shortened versions of the Eysenck Personality Questionnaire (Colledani, Anselmi, & Robusto, 2019; Francis, Brown, & Philipchalk, 1992) using the data from Eysenck and Barrett (2013), which includes responses from over 43,000 individuals from 35 different countries. We leveraged the cutting-edge factor alignment method, which allowed us to gain comprehensive and nuanced insight into the cross-cultural measurement invariance of the EPQ’s extraversion, psychoticism, neuroticism, and lie scales. Crucially, we found that observed scores would have weak comparability across countries had alignment not been applied. Together, our findings underscore several critical implications for researchers and practitioners, and suggest a number of future research initiatives.

O’Neill, T. A., Boyce, M., & McLarnon, M. J. W. (in press). Team health is improved when peer evaluation scores affect grades on team projectsFrontiers in Education.
The use of team projects is common in higher education. Teamwork offers an avenue to help students learn to collaborate and develop the interpersonal skills needed for career success. However, the teams are not always effective, which may undermine student learning, growth, and development. In the current research, we integrate accountability, valence, motivation, and social loafing theories in order to advance an understanding of the role of peer evaluations conducted at the end of a team project. We use a state-of-the-art peer feedback system that allows students to assess and evaluate each other on five competencies critical to teamwork. This system also permits the assessment of overall team functioning. These outcomes are critical as they are related to learning as well as grades on team projects. Over three years and using a total sample size of 162 teams and 873 students, we found that the use of peer evaluations for grading purposes, compared to a control group, promoted effective team member behaviour and overall team health. Future research is needed to further investigate the optimal use of peer evaluations in a variety of contexts using a variety of methods.”