Sandra M. Dow
Professor of International Finance
Dr. Sandra M. Dow has taught at the University of Quebec at Montreal (Canada), Concordia University (Canada), Wake Forest University (USA), Saint Mary's University (Canada), and Warsaw School of Economics (Poland). During her academic career she has taught a range of courses including: Corporate Finance, International Finance, International Investments, Corporate Governance, and Money and Banking.
Professor Dow received her Ph.D. in Finance at Concordia University in Canada, her MA in Economics at Dalhousie University, and a BA in Economics from Mount Allison University. She has recent publications in such journals as Journal of International Business Studies, Journal of Business Research, Journal of Business Ethics, Asia Pacific Journal of Management, Journal of Banking and Finance, Advances in International Management, and International Finance Review. Titles of these publications include: Propping and Tunneling: Empirical Evidence from Japanese Keiretsu with Jean McGuire in Journal of Banking and Finance, 2009; Japanese Keiretsu: Past, Present & Future with Jean McGuire in Asia Pacific Journal of Management, 2009; Disaggregating the Group Effect: Vertical and Horizontal Keiretsu in Changing Economic Periods with Jean McGuire and Toru Yoshikawa in Asia Pacific Journal of Management, 2009; Probing Corporate Governance Globally: Impacts of Business Systems and Beyond with J.Jay Choi and Raj Aggarwal in International Finance Review, 2008; CEO Incentives and Corporate Social Performance with Jean McGuire and Kamal in Journal of Business Ethics, 2003; and The Persistence and Implications of Japanese Keiretsu Organization with Jean McGuire in Journal of International Business Studies, 2003.
Dr. Dow has also contributed papers in various conference proceedings including: Proceedings of the Administrative Sciences Association of Canada and Proceedings of the Eastern Academy of Management. She is an active participant in scholarly conferences and has presented her research around the world. Her current research focuses upon issues in international corporate governance. In 2008 she edited a special issue of the International Finance Review with J. Jay Choi: Institutional Approach to Global Corporate Governance: Business Systems and Beyond. Also, she was approved as a subject matter expert in "Enterprise Risk Management" and "Reputational Risk" by PRMIA's board in May 2013.
Corporate Governance; International Finance; Environmental, Social, and Governance Risk Management (ESG)
Dow, Sandra and Aggarwal, Raj. (2011) Navigating the C2 Economy: The 21st Century Business Challenge. The European Financial Review, 15 April, 2011.
Dow, Sandra and McGuire, Jean. (2011) Industrial Networks in Japan: Blessing or Curse? The European Financial Review, 17 Feb. 2011.
Courses offered in the past four years.
▲ indicates offered in the current term
▹ indicates offered in the upcoming term[s]
IMGT 8619 - Corp Govrnance & ESG Risk Mgmt
This workshop focuses on key components of corporate governance. We begin with an examination of the firm’s ownership structure and then zero in on two important internal governance mechanisms: the board of directors and executive compensation policy. An overview of external governance mechanism is provided that includes the market for corporate control and a discussion of gatekeepers (e.g. security analysts, lawyers, accountants, etc.) The course will be conducted using both lecture and cases and active student participation in both is encouraged and required.
Spring 2012 - MIIS
IMGT 8658 - Corporate Governance
The recent financial crisis underscores the importance of corporate governance regulation and enforcement. This course will combine various theoretical perspectives on corporate governance with practical applications through lectures, class discussion and case analysis. The purpose of this course is to introduce students to the theoretical foundations of corporate governance and demonstrate the complexity of corporate governance issues. In addition, students will become familiar with the various mechanisms of corporate governance and develop the skills necessary to evaluate the governance of a company.
Spring 2010 - MIIS, Spring 2011 - MIIS, Fall 2011 - MIIS, Fall 2012 - MIIS
IMGT 8668 - Environmental Risk Management
This workshop examines the business case for addressing climate change issues. Strategic corporate responses to climate change and environmental challenges do not seem to be the primary domain of corporate management. Such decisions are often not seen as profit maximizing in the short run and are generally not consistent with executive incentives. Nevertheless, some climate change responses may indeed be firm value maximizing and so such decisions can be expected to reflect the nature of a firm’s corporate governance.In this workshop we examine the potential impact of climate change on firm value and examine how the quality of the firm’s governance can influence firm response. The course will be conducted using both the lecture and case methods and active student participation is both encouraged and required.
Spring 2011 - MIIS
IMGT 8682 - Climate Risk & Corp Value
This workshop examines the business case for addressing climate change issues. Strategic corporate responses to climate change and environmental challenges do not seem to be the primary domain of corporate management. Such decisions are often not seen as profit maximizing in the short run and are generally not consistent with executive incentives. Nevertheless, some climate change responses may indeed be firm value maximizing and so such decisions can be expected to reflect the nature of a firm’s corporate governance. In this workshop we examine the potential impact of climate change on firm value and examine how the quality of the firm’s governance can influence firm response. The workshop will be conducted using both lecture and cases and active student participation is both encouraged and required.
Spring 2012 - MIIS
IMGT 8697 - Social Risk & Corporate Value
This workshop provides a framework for analyzing the social risk of the firm and tries to find any links that may exist to corporate value. We will examine various attempts to measure social risk and work with social risk data from a leading data provider (Risk Metrics). The costs of adhering to high environmental and social standards can translate to higher operating costs that in turn may place the firm at a competitive disadvantage and lead to lower profitability. On the other hand strong social policies can confer a competitive advantage on the firm by stimulating technological innovations, improving the efficiency of resource use and thereby cutting costs, strengthening a firm’s reputation and brand, and reducing the firm’s operational risk. The workshop will be conducted using both lecture and cases and active student participation is both encouraged and required.
Spring 2012 - MIIS
IPOL 8530 - FinanceFunctnInNonprofits&SCOs
This course provides an introduction to budgeting, accounting and financial analysis. Students will also gain an understanding of how governmental and nongovernmental organizations manage their finances. Topics to be covered include financial reporting; cash management; financial controls; and standards of financial integrity. Special attention will be given to an examination of how the budgeting process influences overall organizational performance. Students will also learn basic accounting concepts as well as financial information presentation and retrieval skills.
Fall 2009 - MIIS, Fall 2010 - MIIS
IPOL 8593 - GP&S Colloquium:EmergngMarkets
In the past two decades, emerging economies—including, but not limited to, the celebrated “BRICS” (Brazil, Russia, India, China, and South Africa). This course will take on, and contribute to, debates surrounding these emerging markets. How have they become the darlings of international capital markets, regional economic and political leaders, and the brightest lights in a gloomy global economic landscape? Along with this rapid economic growth, these same countries are also experiencing dramatic social changes, environmental problems, political transitions and foreign policy frictions. How can these growing pains be effectively managed?
Today’s global challenges often require global solutions and a small number of developed countries ( such as G8) can no longer effectively coordinate policy solution to address global crises, including economic recession, financial crisis, and climate change negotiations. As such, the G20, including a number of the emerging economies in its membership, has risen to prominence as a new forum for global governance. The experiences of these countries also offer an opportunity to think about larger questions of global order and national development. What constitutes power in the global political economy and how is it/should it be/is it beginning to be (re)distributed? How can state and market work together to generate equitable and participatory growth? How should the BRICS and other emerging economies be factored into the 21st century’s policy challenges, such as climate change or reworking international financial institutions after the recent economic crisis? What do the experiences of the emerging markets mean for the many people who still lack access to the fruits of such growth--- including over a billion citizens of these countries themselves?
Spring 2010 - MIIS
MBAG 8536 - Financial Management
This core course is designed to help students develop an understanding of the fundamental and practical analytical tools of corporate finance as well as its underlying concepts and principles through an encompassing analytical framework of both risk and return within qualitative and quantitative dimensions. The purpose of this course is to study the management of the firm from a financial point of view by focusing in the financial manager's primary task, which is to plan for the acquisition and use of funds so as to maximize the value of the firm.
Spring 2013 - MIIS
MBAG 8629 / IMGT 8629 - Intl Financial Markets ▲
The course provides the student with the conceptual framework necessary to appreciate and understand the key financial markets and instruments that facilitate trade and investment activities in a dynamically evolving global financial environment. For this purpose, the course focuses on the global financial environment; the foreign exchange market; the foreign currency options market; the currency futures market; the currency forward market; the currency and interest rate swap markets; the international bond market; the international equity market; international portfolio diversification; and international parity relations.
Fall 2009 - MIIS, Fall 2010 - MIIS, Fall 2011 - MIIS, Fall 2012 - MIIS, Fall 2013 - MIIS
MBAG 8638 / IMGT 8638 - Intl Investment Analysis ▲
This course covers theory and instruments used in developing international investment portfolios. Students gain an understanding of international capital and money markets through the development and management of their own portfolios. The course also covers the use of hedging strategies, asset pricing models and management of exchange risk.
Prerequisite: IMGT 8531 & IMGT 8536.
Spring 2010 - MIIS, Spring 2011 - MIIS, Spring 2012 - MIIS, Spring 2013 - MIIS, Fall 2013 - MIIS
MBAG 8688 / IMGT 8688 - ESG Risk Assessment ▲
Successful investing is dependent upon the ability to determine the factors that influence the market's valuation of a company… and then judge the accuracy of that valuation. The goal of this course is to demonstrate how Environmental, Social, and Governance (ESG) factors can be used along with traditional financial metrics to assess risks and opportunities confronting firms. As such, this is a course in socially responsible investing taught from a finance perspective. The importance of “extra-financial” factors in evaluating the risks and opportunities confronting the firm is no longer a fringe area for finance professionals. In 2008 the Chartered Financial Analyst’s association introduced ESG into their curriculum. According to a Thomson Reuters survey released in May 2009, 84% of global buy-side investors said they evaluate ESG criteria to some degree when making investment decisions. Moreover, institutional investors are increasingly vocal in their demands that ESG risks be disclosed to the SEC. There are three themes to the course: Objectives of business (wealth maximization versus long term sustainability?), the pillars of socially responsible investing and the development of SRI funds.
Spring 2010 - MIIS, Fall 2010 - MIIS, Fall 2011 - MIIS, Fall 2012 - MIIS, Fall 2013 - MIIS