Evan Dudley

Publications

Corporate hedging fragility in the over-the-counter market (2022), with Paul Calluzzo, Journal of Empirical Finance 67, June 2022, pp. 253-270. (Impact Factor 2.6, ABCD Ranking of A)

How do firms hedge in financial distress? (2022), with Haakan Jankensgaard and Niclas Andren, Journal of Futures Markets 42, Issue 7, pp. 1324-1351. (Impact Factor 1.9, ABCD Ranking of A)

Social capital and entrepreneurial financing choice (2021), Journal of Corporate Finance 70, October 2021. (Impact Factor 6.1, ABCD Ranking of A*)

Priority spreading of corporate debt (2020), with Dominique Badoer and Christopher James, The Review of Financial Studies 33, Issue 1, pp. 261-308. (Impact Factor 8.2, ABCD Ranking of A*, FT50 List)

The real effects of proxy advisors on the firm (2019), with Paul Calluzzo, Financial Management 48, pp. 917-943. (Impact Factor 3.4, ABCD Ranking of A)

Financial distress, refinancing, and debt structure (2018), with Qie (Ellie) Yin, The Journal of Banking and Finance, Vol. 94, pp. 185-207. (Impact Factor 3.6, ABCD Ranking of A*)

Capital-structure changes around IPOs (2018), with Christopher James. Critical Finance Review, Vol. 7, pp. 55-79. (Impact Factor 1.6, ABCD Ranking of A*)

Trust and corporate cash holdings (2016), with Ning Zhang, Journal of Corporate Finance, Vol. 41, pp. 363-387. (Impact Factor 6.1, ABCD Ranking of A*)

State foreclosure laws and the incidence of mortgage default (2014), with Cem Demiroglu and Christopher James, Journal of Law and Economics, Vol. 57, pp. 225-280. (Impact Factor 2.2)

Capital structure and large investment projects (2012), Journal of Corporate Finance, Vol. 18, pp. 1168-1192. (Impact Factor 6.1, ABCD Ranking of A*)

Margins and hedge fund contagion (2011) with Mahendrarajah Nimalendran, 2011, Journal of Financial and Quantitative Analysis, Vol. 46, No. 5, pp. 1227-1258. (Impact Factor 4.7, ABCD Ranking of A*, FT50 List)

Corporate repurchase decisions following mutual fund sales (2011) with Ani Manakyan, Financial Management, Winter 2011, pp. 973-999. (Impact Factor 3.4, ABCD Ranking of A)

Pricing Discretely Monitored Barrier Options by a Markov Chain (2003), with J.C. Duan, G. Gauthier, and J.G. Simonato, Journal of Derivatives, Vol. 10, pp. 9-31.

Work in Progress

“Search and inventory costs in the OTC market for corporate bonds”, with Chengjie Diao, and Hongfei (Amy) Sun, 3rd round revise and resubmit, under submission.

“Toxic assets: Firms’ divestment of corporate bonds around pollution event”, with Minkang (Michael) Kim, under submission.

“Electronic trading in OTC markets”, single author, under submission.

“Financing emissions”, with Dominique Badoer.

“Environmental activists or passive investors? Climate risk and sovereign wealth fund investments”, with Paul Calluzzo

“Interdealer markets”, with JS Fontaine.

Media Interviews

Podcast titled “Toxic assets: Firms’ divestment of corporate bonds around pollution event”, produced with David Watson of the Institute of Sustainable Finance, August 2025

How new entrepreneurs can bank on social capital, Smith Business Insight Magazine, September 2020

Queen’s professors talk about Kingston’s housing shortage, The Kingston-Whig Standard, December 2018

Policy Reports

Bank of Canada - Research-in-Brief: “Electronic Trading in the OTC Market” (2025). This policy note on electronic trading in the Canadian bond market was written for the Bank of Canada Governing Council.

Bank of Canada – Staff Discussion Paper: “The D2C repo market: A buoy on a swaying tide” (2025), with Greg Adams, Jean-Sébastien Fontaine, Sofia Tchamova and Andreas Uthemann. This Bank of Canada policy note is on fixed-income market frictions impeding the implementation of monetary policy in Canada.

Institute for Sustainable Finance - Research Report: “Stranded Asset Risk” (2024) with Minkang (Michael) Kim and Lauren McGinnis. Policy report on investor divestment around corporate pollution events written for the Institute for Sustainable Finance.

Case Studies

Smith-Brookfield case study on Governance, “GrafTech” (with Eileen Yang and Minkang Kim), copyright (2023) Smith School of Business

Smith – Brookfield case study on Due Diligence, “NovaCold Logistics” (with Eric Stephenson), copyright (2020) Smith School of Business.

Smith – Brookfield case study on Valuation, “Longview Fibre Paper & Packaging” (with Eric Stephenson), copyright (2019) Smith School of Business.

Smith – Brookfield case study on Financial Distress, “General Growth Properties” (with Eric Stephenson), copyright (2019) Smith School of Business.

Visiting Positions

2024/07 – 2025/08 | On sabbatical leave at the Bank of Canada as visiting professor

2019/07 – 2019/12 | On sabbatical leave at HEC Paris as visiting professor

Student/Postdoctoral Supervision

Postdoctoral

Principal supervisor, Haoxiang Tang (in progress), Finance
Student degree expected 2027/09      

Principal supervisor, Minkang (Michael) Kim* (in progress), Finance
Student degree expected 2026/09
*: Recipient of the Geoffrey H. Wood Scholarship (awarded annually to student(s) in the doctoral program in Management with high academic standing)

Masters

Principal supervisor, PJ Adetunji (in progress), Finance
Student degree expected 2026/09

Principal supervisor, Minkang (Michael) Kim (completed), Finance
Student degree expected 2022/09

Principal supervisor, Mohammad Rashidi Ranjbar (completed), Finance
Student degree expected 2021/09

Principal supervisor, Eric (Yun Jiang) Dong (completed), Finance
Student degree received 2019/09

Principal supervisor, Zheng Liu (completed), Finance
Student degree received 2015/05

 

Course Development

2025/Fall | MFIN Toronto Capstone course
Course level: Master’s in finance for professionals

2021/Winter | Course title: Finance Fundamentals
Course level: Full-time Master of Business Administration (FTMBA)

2021/Winter | Course title: Pre-MBA Finance boot-camp
Custom 1-day class for entering MBA students

2021/Winter | Course title: Private Equity
Course level: Undergraduate (COMM)
New course developed for the COMM undergraduate curriculum

2020/Fall | Course title: Fixed Income Markets and Instruments
Course level: Master of Finance (MFIN)

2018/10 | Technological Innovation in Credit Markets and the Future of Fintech, Custom class developed for the Bank of Beijing and Smith Executive Education.

2018/01 | Instructor, Finance, Queen’s University
Course title: Financial Strategy II
Course level: Undergraduate

Interests

Fixed income markets, corporate finance, climate finance

(over the past five years)

(2025) Toxic assets: Firms’ divestment of corporate bonds around pollution events, Canadian Sustainable Finance Conference, Toronto, ON.
 
(2025) Overnight funding rate deviations from the policy target, Bank of Canada internal policy presentation to the Financial Markets Division
 
(2024) Electronic trading in the OTC market, Bank of Canada internal policy presentation to the Financial Markets Division
 
(2024) Financing emissions, University of Florida Presidents’ Day Conference, Gainesville, FL
 
(2024) Financing emissions, Midwestern Finance Association Conference, Chicago, IL
 
(2023) Financing emissions, McGill-Desautels Faculty of Management Brownbag Presentation, Montreal, QC
 
(2023) Financing emissions, Financial Management Association Conference, Chicago, IL
 
(2022) Search and inventory costs in the OTC market for corporate bonds, Bank of Canada by invitation
 
(2022) Financing emissions, Canadian Sustainable Finance Network Annual Conference, Victoria BC
 
(2022) Financing emissions, Concordia University Fintech – Climate Finance Conference, Montreal, QC
 
(2022) Search and inventory in the OTC market for corporate bonds, Summer Workshop on Money, Payments and Finance, held in Washington D.C.
 
(2021) Social capital and entrepreneurial financing choice, ENTFIN conference (virtual)
 
(2021) How do firms hedge in financial distress?, World Finance Conference, held virtually.
 
(2021) How do firms hedge in financial distress?, Financial Management Conference (FMA), held virtually.

Research Funding History

2025/04 – 2026/03 | Central bank interventions in the era of non-conventional monetary policy. Funding source: Social Sciences and Humanities Research Council of Canada (SSHRC) Partnership Engage Grant with the Bank of Canada. Total funding: $25,000 + matching in-kind contribution from the Bank of Canada

2022/04 – 2026/03 | Human-machine interactions in the over-the-counter market. Principal applicant. Funding sources: Social Sciences and Humanities Research Council of Canada (SSHRC) Insight Grant. Total funding: $173,000

2024/05 – 2024/08 | Queen’s University Undergraduate Research Award (USSRF). Total funding: $10,000 to fund a summer undergraduate student

2023/08 – 2024/08 | Stranded asset risk in the bond market. Principal applicant. Funding sources: Canadian Sustainable Finance Network. Total funding: $20,878

2023/07 – 2024/07 | Stranded asset risk in the bond market. Principal applicant. Funding sources: Monieson Research Grant. Total funding: $13,578

2017/03 – 2022/03 | How will automated lenders change the market for lending? Principal applicant. Funding sources: Social Sciences and Humanities Research Council of Canada (SSHRC) Insight Grant. Total funding: $84,000

2016/07 – 2020/06 | Disruptive technology and financial innovation. Co-applicant. Funding sources: Monieson Center for Research. Total funding: $200,000

2016/06 – 2019/05 | Who coordinates shareholder votes? The role of proxy advisors in corporate governance. Co-applicant. Funding sources: Social Sciences and Humanities Research Council of Canada (SSHRC) Insight Development Grant. Total funding: $59,000

2016/01 – 2018/04 | Corporate hedging since the financial crisis. Principal applicant. Funding sources: Canadian Derivatives Institute (formerly IFSID). Total funding: $25,000

2007/01 – 2007/12 | Capital structure and large investment projects. Principal applicant. Funding sources: Fonds québécois de la recherche sur la société et la culture (FQRSC). Total funding: $20,000

 

Non-peer Reviewed (donor) Funding

2023/08 – 2025/08 | Private Equity. Funding source: anonymous donor (alumni). Total funding: $102,475

2019/06 – 2022/05 | Private Equity. Funding source: anonymous donor (alumni). Total funding: $75,000

Fellowships

2019/04 – Present | Smith School of Business Distinguished Faculty Fellow of Finance

Recognitions

2019/10 | Top three paper in Fall 2019 issue of Financial Management; invited presentation at 2019 FMA meeting conference in New Orleans, LA.

2015/03 | Outstanding paper award in corporate finance, Midwestern Finance Association

2010/10 | Outstanding doctoral student paper award, Southern Finance Association

Committee Memberships at Smith School of Business

2025/07 – 2026/06 | Review, Tenure and Promotion committee

2025/09 – 2026/04 | FTMBA program and curriculum review committee

2021/09 – 2024/04 | Graduate Committee Board

2021/05 – 2022/04 | Fellowships, professorships, and chairs committee

2020/09 – 2021/06 | Finance area group representative on the Graduate Committee Board

2020/09 – 2021/06 | Appointments Committee Member and Modified Appointments Committee Member

2020/09 – 2021/06 | Equity Representative, Appointments Committee

2018/09 – 2018/12 | Academic Integrity Panel Member

Graduate Examination Activities (past three years)

2024/06 | External/Internal Reviewer, Long Bui, Queen’s Economics Department, Queen’s University

2023/06 | External, Alison Taylor, Graduate Department of Economics, University of Toronto

2023/06 | External/Internal Reviewer, Antoine Noël, Queen’s Economics Department, Queen’s University

2022/06 | External/Internal Reviewer, Eric Richert, Queen’s Economics Department, Queen’s University

Service to the Community

2015/12 – 2018/12 | Annual Business Forecast Luncheon, Faculty Lead (Annual event hosted every December in downtown Kingston, Ontario)

Research Funding Application Assessment Activities

2019/05 | External Reviewer, Social Sciences and Humanities Research Council of Canada (SSHRC), Insight Development Grants.

2018/05 | External Reviewer, Social Sciences and Humanities Research Council of Canada (SSHRC), Insight Development Grants.

Event Administration (past five years)

2024/05 | Reviewer, 2024 CICF Conference

2018/03 | Reviewer, 2018 Northern Finance Association Conference

2018/03 | Reviewer, 2018 European Conference on Empirical Legal Studies