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Evan Dudley

Associate Professor and Distinguished Faculty Fellow of Finance

Overview

Evan Dudley is Associate Professor of Finance. His research focuses on corporate finance.

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Academic Area

  • Finance

Interest Topics

  • Finance & Investment

Faculty Details

Profile

Full Bio

Evan Dudley’s research interests are in corporate finance with a focus on the capital-raising process and firms’ capital structures.

He obtained a Ph.D. in Finance from the University of Rochester and is a former faculty member of the University of Florida, where he taught in the Master’s of Management, MBA and Professional MBA programs.

He has worked for National Bank of Canada and National Bank Financial (formerly Levesque Beaubien Geofffrion) as a risk management analyst and interest-rate derivatives marketer.

His work has been published in the Journal of Banking and Finance, Financial Management, and the Review of Financial Studies, among others.

Academic Degrees

Ph.D. Finance
University of Rochester (2009)

M.Sc. Financial Engineering
HEC Montréal (1998)

B.A. Mathematics and Philosophy
McGill University (1998)

Academic Experience

Smith School of Business, Queen’s University
Associate Professor of Finance (2018 - Present)
Assistant Professor of Finance (2014-2018)

Warrington College of Business, University of Florida
Assistant Professor of Finance (2008-2014)

Publications

Journal Articles

Social capital and entrepreneurial financing choice (2021), Journal of Corporate Finance 70, October 2021.

Priority spreading of corporate debt (2019), with Dominique Badoer and Christopher James, The Review of Financial Studies, Vol. 33, pp. 261-308.

The real effects of proxy advisors on the firm (2018), with Paul Calluzzo, Financial Management, Fall 2019.

Financial distress, refinancing, and debt structure (2018), with Qie (Ellie) Yin, The Journal of Banking and Finance, Vol. 94, pp. 185-207. https://doi.org/10.1016/j.jbankfin.2018.07.004.

Capital-structure changes around IPOs (2018), with Christopher James. Critical Finance Review, Vol. 7, pp. 55-79. http://dx.doi.org/10.1561/104.00000045.

Trust and corporate cash holdings (2016), with Ning Zhang, Journal of Corporate Finance, Vol. 41, pp. 363-387.

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.

Capital structure and large investment projects (2012), Journal of Corporate Finance, Vol. 18, pp. 1168-1192.

Margins and hedge fund contagion (2011) with Mahendrarajah Nimalendran, 2011, Journal of Financial and Quantitative Analysis, Vol. 46, No. 5, pp. 1227-1258.

Corporate repurchase decisions following mutual fund sales (2011) with Ani Manakyan, Financial Management, Winter 2011, pp.973-999.

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.

Working papers

“Corporate hedging fragility in the over-the-counter market”, with Paul Calluzzo. Under review.

“How do firms hedge in financial distress?”, with Haakan Jankensgaard and Niclas Andren.

“Search and inventory costs in the OTC market for corporate bonds”, with Chengjie Diao, and Hongfei (Amy) Sun. 

Permanent working paper(s)

“Discovering fundamental value”, with Saad Khan, Luke Phelps and Ryan Riordan.

Case studies

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.

In the Media

Text Interviews

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

Story behind Canada’s biggest Maple bond deal, The Financial Pipeline. 2017

Economic forecast positive, The Kingston-Whig Standard. 2017

Forecast 2018 : Beware a Zombie NAFTA, Smith Insight Magazine. 2017

Economic development builds momentum, The Kingston-Whig Standard. 2016

Forecast 2017 : Trash talk, unhappy returns, Smith Insight Magazine. 2016

Toronto stocks plunge the most in four years, The Toronto Star. 2015

Greek financial crisis : How the country moves forward after the NO vote, CBC.ca. 2015

Bank capital requirements for systemically important financial institutions, The Bottom Line News Magazine. 2014

Other Media Interviews

Is Greece headed for a ‘Grexit’?, CBC TV – Power and Politics. 2015

Greek debt crisis, CBC National Radio, AM980 London Radio, AM 770 Calgary Radio. 2015

Surprise Bank of Canada rate cut, CBC Radio. 2015

Teaching

Course Development

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 lass 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)

2019/10 Private Equity, 3rd and 4th year commerce elective focusing on Private Equity investments. The course is developed with the assistance of a large private equity firm who is providing content for case studies.

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

2017/01 Instructor, Finance, Queen’s University

  • Course title: Corporate finance – Theory and empirics
  • Course level: Graduate (M.Sc. / Ph.D.)

2014/01 Instructor, Finance, University of Florida

  • Course title: Capital structure and risk management
  • Course level: Graduate (M.Sc. / Full-time MBA)

2014/01 Instructor, Finance, University of Florida

  • Course title: Corporate finance
  • Course level: Graduate (Professional MBA)

2012/09 Instructor, Finance, University of Florida

  • Course title: Debt and money markets
  • Course level: Undergraduate

Student/Postdoctoral Supervision

Masters

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

Principal supervisor, Mohammad Rashidi Ranjbar, 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

Doctorate

Dissert. Committee, Chengjie Diao, Queen’s Economics Department
Student degree expected 2022/09

Academic advisor, Ellie (Qie) Yin (Completed), Finance
Student degree received 2016/09 
Hong Kong Baptist University

Academic advisor, Matthew Souther (Completed), Finance
Student degree received 2014/09
University of Missouri

Academic advisor, Ani Manakyan (Completed), Finance
Student degree received 2012/09
Salisbury University

Visiting Positions

Visiting professor
HEC Paris
2019

Research

Interests

Corporate finance and financial markets

Presentations

Presentations (over the past five years)

(2021) Social capital and entrepreneurial financing choice, ENTFIN conference (virtual) 2. (2021) Search and inventory costs in the OTC market for corporate bonds, Industrial Organization seminar for graduate students, held virtually and hosted by the Queen’s Economics Department.

(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.

(2020) Social Capital and Entrepreneurial Financing Choice, HEC Paris brownbag seminar, Jouy-en-Josas, France.

(2019) Discovering fundamental value, HEC Paris brownbag seminar, Jouy-en-Josas, France.

(2018) Corporate hedging during the financial crisis, Financial Management Association annual meeting (FMA), San Diego, USA.

(2018) Corporate hedging during the financial crisis, Northern Finance Association annual meeting (NFA), Charlevoix, QC.

(2018) Corporate hedging during the financial crisis, Canadian Economics Association annual meeting (CEA), Montreal, QC.

(2018) Corporate hedging during the financial crisis, Financial Intermediation Research Society annual meeting (FIRS), Barcelona, Spain.

(2017) Priority spreading of corporate debt, Financial Management Association (FMA) annual meeting, Boston, MA.

(2017) Corporate hedging during the financial crisis, International Finance and Banking Society (IFABS) annual meeting, Oxford, UK.

(2017) The real effects of proxy advisors on the firm, Financial Management Association European Conference (FMA Europe), Lisbon, Portugal.

Awards

Fellowships

Smith School of Business Distinguished Faculty Fellow of Finance (2019-2022)

Recognitions

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

Outstanding paper award in corporate finance Midwestern Finance Association (2015)

Outstanding doctoral student paper award Southern Finance Association (2010)

Grants & Funding

Private Equity (2019-2022)
anonymous donor (alumni) | $75,000

Insight Grant: How will automated lenders change the market for lending? (2017-2022)
SSHRC | $84,000

Bond Pricing and AI (2020-2021)
Mitacs | $33,000

Corporate hedging since the financial crisis (2016-2018)
Canadian Derivatives Institute (formerly IFSID) | $25,000

Capital structure and large investment projects (2007)
Fonds québécois de la recherche sur la société et la culture (FQRSC) | $20,000

Disruptive technology and financial innovation (2016-2020)
Monieson Center for Research | $200,000

Development Insight Grant: Who coordinates shareholder votes? The role of proxy advisors in corporate governance (2016-2019)
SSHRC | $59,000

Capital structure and large investment projects (2007)
Fonds québécois de la recherche sur la société et la culture (FQRSC) | $20,000

Service

Committee Memberships at the Smith School of Business

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

2017 - External/Internal Reviewer, Paul Bell, Department of Geography and Planning, Queen’s University.

2017 - External/Internal Reviewer, Adugna B. Olani, Queen’s Economics Department, Queen’s University.

2015 - Head Delegate, Yi Ding, Finance, Smith School of Business, Queen’s University.

2015 - Reader, Muhammad Asim, Finance, Smith School of Business, Queen’s University.

Event Administration

2018 - Reviewer, 2018 Northern Finance Association Conference

2018 - Reviewer, 2018 European Conference on Empirical Legal Studies

2017 - Reviewer, 2017 Northern Finance Association Conference

2016 - Reviewer, 2016 Northern Finance Association Conference

2015 - Reviewer for best paper award, 2015 Financial Management Europe Conference

2012 - Reviewer, 2012 Financial Management Association Conference

Research Funding Application Assessment Activities

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

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

Academic Activities

Business Forecast Luncheon, Faculty Lead (Annual event hosted every December in downtown Kingston, Ontario)
2015-2018

Service to the Community

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

Journal Review Activities

Journal of Banking and Finance, Journal of Corporate Finance, Review of Financial Studies, Management Science, Journal of Financial Stability, Review of Finance.