Congratulations to Assistant Professor Tashfeen Hussain who recently completed his oral defense of his thesis! Tashfeen’s thesis has been approved without revision through the Smith School of Business, Queen’s University. The title of the thesis: “Implications of firms’ interactions with debt markets”.
Tashfeen has also been selected to write a chapter on an upcoming book on Corporate fraud. The chapter is titled: “The spillover impact of corporate fraud”.
Bissett School of Business would like to congratulate Osama El-Temtamy on having his paper accepted for presentation at the the 7th Spring Conference of the Multinational Finance Society in Chania, Crete, Greece in April 2019. Osama’s paper is entitled: Oil Price Plunge: Are Conventional and Islamic banks equally vulnerable?
“Oil Price Plunge: Are Conventional and Islamic Banks Equally Vulnerable?”
Ghulame Rubbaniy – Zayed University, United Arab Emirates
Osama El-Temtamy – Mount Royal University, Canada
A. W. Khan – University of Evansville, USA
Abida Perveen – Comsats University Islamabad, Pakistan
In response to the recent debate on the vulnerability of the banking industry to oil price plunge, this article investigates the effect of oil price plunge on credit and insolvency risks of banking industry at aggregate level, across banks’ specializations and at country level. Our findings show that falling oil prices significantly increase the credit risk for the banking industry in the GCC region and particularly for banks operating in Kuwait, Qatar, Saudi Arabia and United Arab Emirates; however, falling oil prices do not affect credit risk of Islamic banks. Our analysis shows that black gold’s price plunge does not increase the insolvency risk of GCC banking industry nor across bank specializations and across Gulf countries using both accounting-based and market-based proxies of insolvency risk. We argue that bailout packages by the wealth funds to the GCC banks is a probable reason for counter intuitive protection against solvency risk due to negative oil price shocks.
For the second year in a row, the Bissett School of Business team has won the CFA Societies of Canada Ethics Challenge regional round! The Bissett team beat out teams from the University of Alberta, University of Calgary, University of Lethbridge and SAIT.
The Bisset team will advance to Nationals which are to be held in Calgary this coming May. Representing the Prairies Region, they will compete against the top schools from the other Canadian regions: BC, Ontario, Quebec and the Maritimes.
The Bissett team is comprised of Aliza Carrol (BBA – Financial Services 2020, Houston Higgins (BBA – Financial Analysis 20190, Gurdit Khatra (BBA – Financial Analysis 2019), Alaina Magnusson (BBA -Financial Analysis 2020) and Allana White (BBA – Finacial Analysis 2020).
As faculty advisor, Bissett Professor Cathy Roy-Heaton would like to mention how proud she is of their efforts and the quality of their analysis of a very complex governance -ethical scenario.
Their success is a direct reflection of the quality of our Finance program! Congratulations Team!
Bissett Assistant Professor, Tahsfeen Hussain, has had two papers accepted for presentation in the South Western Finance Association Conference to be held in Houston in March. The papers to be presented are: “Do Credit Default Swaps Impact Lenders’ Monitoring on Loans?” and “Board Interlock and Fraud Restatement Spillover”. The SWFA Conference is a highly reputed finance conference.
As part of the CFA Institute University Affiliation Program membership, the Bissett School of Business is able to award CFA Level Exam Scholarships through the Financial Analysis Concentration.
The finance department has been allocated 15 scholarships for the December 2018 and June 2019 exams. Each scholarship is worth an approximate $900 USD and is administered by the CFA Institute.
The Scholarship selections were made by a committee consisting of Bissett Associate Professors in Finance Allan Dwyer, Carlton Osakwe and Cathy Roy-Heaton. In addition to the requirement of the student recipients being in their final year of studies (BBA GM Major with a Financial Analysis Concentration), the committee also factored in career ambitions and their contribution to the finance program during their time at MRU.
December 2018 Examination: Michael Croft, Shahla (Shay) Hussain, Dylan Nemeth, Fabjan Pepaj.
June 2019 Examinations: Michael Boulter, Quinn Bromley, James (David) Carlson, Maxim Chiguy, Serge Combot, Syed(Jay) Hussain, Ahsan Khan, Riley McCallum, Victor Power-Romero, John (Cam) Price, Austin Vrabel.
Congratulations to all of our student recipients and thank you to the committee for their time and attention given to their thoughtful selections!
“Our students were outstanding ambassadors of our program. Our RMA partners, the judges and the mentors spoke with me throughout the two days of the event and said glowing things about our students: the quality of the analysis, their eagerness to learn and their professionalism were all noted. In total, 17 corporate-commercial bankers and credit risk professionals came to our campus and worked with our students in some capacity over the two days of the event” — Catherine Roy-Heaton.
Sponsored by the CPA Education Foundation, the Bissett Accounting & Finance Department, spearheaded by Assistant Professor Nicole Edge, hosted “Bringing Voices Together: Diversity & Inclusion in Accounting & Finance” on March 16, 2018. A group of ~ 50 registrants including experienced professionals, alumnae and students came together over lunch to share stories about experiences working as women in a male-dominated profession.
Robin Taub, author, speaker, writer, “solopreneur” and former Chair of CPA Canada’s Women’s Leadership Council, provided current Canadian context on gender diversity and the business case for why Canada needs to take action to address gender diversity. She and Ruth McHugh, current COO of the Alberta Office of the Auditor General, then shared their stories of what it was like for them to enter this discipline and carve out their own space as CPAs. The conversation then moved to small round-table discussion where students had an opportunity to engage with professionals and discuss a range of questions and ideas about gender diversity and inclusion in the profession.
Nicole reports that based on positive feedback – particularly from students who felt this was one of their first opportunities to hear directly from the “on-the-ground” practitioners about these issues, options for follow-up events are being explored.
Special thanks to Nicole for spearheading this event and ensuing this timely issue is at the forefront of the faculty.
The ATB Investor Services Investment Challenge, otherwise known as the Bissett Stock Market competition, wrapped up at the end of March after seven months. Starting in September 2017, this year saw a record number of 33 teams compete.
The winning team of Austin Glenn, Lucy Javorcikova, and Harrison Lane had an outstanding return of 92%. The second place team of Jarett Bishop, Rob Flach, and Graham Perry managed an impressive 54% return, and the third place team of David Carlson, Amy Gillies, and Ahsan Khan were close behind with a return of 44%. All three teams are the recipients of cash prizes. The winning team is immortalized by having their names inscribed on the Stock market competition trophy. This year’s competition was the 13th edition of the popular competition.
Congratulations to the students and special thanks to Jim Fischer, Associate Professor and faculty adviser for the competition!
Bissett School of Business would like to congratulate the winning team of the 2018 CFA Society Winnipeg Ethics Challenge: Dylan Assen, Tiffany Doyle, Harrison Kozak, Andy McAuley, Graham Perry and Faculty Adviser, Catherine Roy Heaton.
Our Bissett team competed against six other universities that are members of the CFA Institute University affiliation program and/or embed financial ethics into their curriculum. Those institutions include the University of Alberta, University of Calgary, University of Saskatchewan, University of Manitoba and the University of Winnipeg.
“The teams had four weeks to analyze and evaluate a case which presented several ethical dilemmas and then identify the violations of the CFA Institute Code of Ethics and Standards of Professional Conduct.” Students presented their findings, gave recommendations and were grilled by a panel of industry professionals. Bissett Chair and faculty adviser of the team, Catherine Roy Heaton, indicated the students excelled through their preparation and work ethics, teamwork, strong presentation skills, comprehension of the Code and Standards and the ability to apply their learned acumen to “real world applications” is what made them the stand out team.
The team will be representing Bissett at Nationals in Vancouver this coming May, competing against the top teams from across Canada. Bissett School of Business wishes the students a successful showing in Vancouver and would like to extend our thanks to Cathy for her continued dedication and mentor-ship to the CFA Ethics team!