Lynnette Purda
Associate Dean (Graduate), Professor & RBC Fellow of FinanceOverview
Lynnette Purda is Professor and Associate Dean (Graduate Programs), and RBC Fellow of Finance at Smith School of Business, Queen’s University. She is a Chartered Financial Analyst with industry investment banking experience and is an editor of the book Corporate Fraud Exposed.
Her primary research area is corporate finance with a focus on governance. Her work appears in leading academic journals and she has worked with policymakers and practitioners including the Bank of Canada, the Accounting Standards Oversight Council of Canada, and FP Canada. She is a past president of the Northern Finance Association.
Dr. Purda has been nominated for teaching excellence awards at both the undergraduate and Master’s levels. She has taught in programs across the Smith portfolio including Bachelor of Commerce, MBA, Master of Finance (both Toronto and Beijing), Master of International Business , and more. She also supervises research of masters and doctoral students and won the 2022 PhD/MSc Award for Research Supervision.
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Academic Area
- Finance
Interest Topics
- Finance & Investment
- Governance
Highlights
Corporate Fraud Exposed: A Holistic Approach
Corporate Fraud Exposed delves into the drivers of fraud, providing a fresh look at this intriguing but often complex subject. Including a skilful blend of contributions from a global array of scholars and practitioners, this book offers a wide-reaching, practical and comprehensive insight.
Faculty Details
Profile
Full Bio
Lynnette Purda conducts empirical research in corporate finance with a focus on governance. This research is frequently interdisciplinary in nature with journal publications spanning the areas of accounting, finance, international business, and law. Her work appears in journals such as Contemporary Accounting Research, Journal of International Business Studies, The American Law and Economics Review, and Financial Management. Lynnette has a particular interest in research surrounding corporate fraud and is an editor of the newly published book Corporate Fraud Exposed.
Outside of academia, Lynnette has presented her work to policy makers and practitioners including the Bank of Canada, the Accounting Standards Oversight Council of Canada, and FP Canada. Lynnette has been a visiting researcher at the Bank of Canada and INSEAD Business School (France) and workshop organizer at the Halbert Centre for Canadian Studies located at the Hebrew University of Jerusalem. Lynnette is a past president of the Northern Finance Association and conference co-chair for the NFA 2016 meetings.
Lynnette is a dedicated teacher with nominations for teaching excellence at both the undergraduate and Masters levels. She has a long history working with graduate students, having supervised the research of over 15 Masters and Doctoral students.
Academic Degrees
PhD in Finance
Rotman School of Management, University of Toronto (2003)
Bachelor of Commerce (Hons)
Asper School of Business, University of Manitoba (1996)
Academic Experience
Smith School of Business, Queen’s University
Professor and RBC Fellow of Finance (2019 - Present)
Associate Professor and RBC Fellow of Finance (2009-2019)
Assistant Professor (2002-2009)
Publications
Book
Corporate Fraud Exposed: A Comprehensive and Holistic Approach (2020) by H. Kent Baker, Lynnette Purda, and Samir Saadi. Emerald Publishing.
Journal Publications
Authors names are alphabetical. *Indicates work conducted with current or former Queen’s University doctoral students from economics, accounting, management analytics or finance.
*Chourou, L., L. Purda and S. Saadi (2021). Economic Policy Uncertainty and Analysts’ Forecast Characteristics. Journal of Accounting and Public Policy 40 (4).
*Liu, C., L. Purda, and H. Zhu (2021). Institutional Influence on Syndicate Structure and Cross-Border Leveraged Buyouts. Financial Management 50 (1), 169-202.
*Li, B., L. Purda, and W. Wang (2018). Do Bond Holders Price Senior Lenders’ Control Rights? Journal of Law, Finance, and Accounting, 3 (2), 373-411.
Murphy, P., L. Purda, and D. Skillicorn (2018) Can Fraudulent Cues be Transmitted by Innocent Participants? Journal of Behavioral Finance 19 (1), 1-15 (lead article).
*Anand, A., W. Charles, and L. Purda (2017) Voluntary Corporate Governance, Proportionate Regulation and Small Firms: Evidence from Venture Issuers, Canadian Business Law Journal 60 (1), 34-60.
-This paper was profiled by the Harvard Law School Forum on Corporate Governance and Financial Regulation.
Purda, L. (2016) Introduction to the Special Issue on Financial Monitoring and its Consequences. International Journal of Managerial Finance 12 (5) 474-77.
*Purda, L., F. Sonmez, and L. Zhong (2015) Financial Institution Credit Assessment and Implications for Portfolio Managers. Journal of International Financial Markets, Institutions and Money, 38 (September) 148-166.
-A summary of this publication was featured in the CFA Digest, Feb 2016 Vol 46 (2).
Purda, L. and D. Skillicorn (2015) Accounting Variables, Deception, and a Bag of Words: Assessing the Tools of Fraud Detection. Contemporary Accounting Research 32 (3), 1193-1223.
-Profiled in the Globe and Mail newspaper, March 2012.
Booth, L., W.S. Cleary, and L. Purda (2013) Debt Rating Initiations Natural Evolution or Opportunistic Behavior? Journal of Modern Accounting and Auditing 9 (12) 1574-1595.
*Bae, K., L. Purda, M. Welker, and L. Zhong (2013) Credit Rating Initiation and Accounting Quality for Emerging Market Firms. Journal of International Business Studies 44 (3) 216-234.
Anand, A., F. Milne, and L. Purda (2012) Domestic and International Influences on Firm-Level Governance: Evidence from Canada. American Law and Economics Review 14 (1), 44-67.
Purda, L. (2011) Assessing Credit or Determining Quantity? The Evolving Role of Rating Agencies. Journal of Applied Finance 21 (2), 20-37.
Anand, A., F. Milne, and L. Purda (2010) Monitoring to Reduce Agency Costs: Examining the Behavior of Independent and Non-Independent Boards. Seattle University Law Review 33 (4), 809-848.
Purda, L. (2008). Risk Perception and the Financial System. Journal of International Business Studies 39, 1178-1196.
Purda, L. (2007). Stock Market Reaction to Anticipated Vs. Surprise Rating Changes. Journal of Financial Research 30 (2) 301-320.
Purda, L. (2005). Mergers in the Bond Rating Industry: Does Rating Provider Matter? Journal of Multinational Financial Management 15 (2) 155-169.
Purda, L. (2001). Quantifying the Tax Benefits of Borrowing in Foreign Currencies. Canadian Tax Journal 49 (4) 925-944.
Book Chapters, Conference Proceedings, and other Publications
Purda, L. (2023) International Trends in Corporate Philanthropy and the Influence of Institutional Context. Research Handbook on International Corporate Social Responsibility Anthony Goerzen (Ed).
*Purda, L. and C. Ying (2022) Consumer Credit Assessment in the Age of Big Data. Big Data in Finance Thomas Walker, Fred Davis, and Tyler Schwartz (Eds).
Skillicorn, D. and L. Purda, (2012) Detecting Fraud in Financial Reports, European Intelligence and Security Informatics Conference (EISIC) Conference Proceedings.
Purda, L. (2008). The Global Expansion of Financial Institutions: Examining the International Operations of Credit Rating Agencies. Global Management; Strategy, Challenges, and Uncertainty, Alejandro Dominguez (Ed).
In the Media
Print (magazine): CFO Magazine, Forum: The Magazine for Investment Advisors, Report on Business Magazine, Corporate Risk Canada, FP Standard
Print (newspaper): The Globe and Mail, The Edmonton Sun, Toronto Star, Kingston This Week, Kingston Whig Standard
Radio and TV: CKWS News, Sun News Network, CBC syndicate radio drive home shows.
Working Paper & Work in Progress
*Boland, M. and L. Purda, Close Enough! Exploring the Consequences and Motivations Behind Estimates in Capital Budgeting
Ashworth, L. and L. Purda, Identifying the Psychological Barriers to Seeking Financial Advice
Chourou, L. and L. Purda, Corporate Philanthropy and Persuasion: An International Analysis
Teaching
Undergraduate
Introduction to Finance
Financial Systems
Advanced Corporate Finance
Masters
Finance Fundamentals (MBA)
Financial Strategy (EMBA)
Finance for Global Managers (Masters of International Business)
Advanced Managerial Finance (Accelerated MBA)
Advanced Portfolio Management (Masters of Finance)
Banking Disrupted (MFit)
Ph.D.
Empirical Methods in Finance, Capital Markets: Theory and Empirics
Non-Degree Custom Programs
Finance Fundamentals (Saudi International Development Fund)
Finance for Non-Financial Managers
Mergers and Acquisitions for Executives
Student Supervision
Ph.D. Students Supervised to Completion
2019 Paul Dion – University of Nebraska (expected completion 2020)
2018 Tashfeen Hussain – Mont Royal University
2017 Matthew Boland – San Jose State University
2014 Chen Liu – Trinity Western University
2011 Yang Ni – Antai College of Economics and Management, Shanghai Jiao Tong University
M.Sc. Students Supervised to Completion
2005 Natasha Khan
2009 Ali Ebrahimnejad
2011 Zhanghuan (Ziggy) Hu
2011 Sasan Saiy
2012 Tashfeen Hussain
2012 Sasha Guo
2013 Matt Boland
2014 Eric Jinsan Yu
2016 Shimei Zhou
2020 Yuchen Lin
Visiting Positions
Visiting Scholar
INSEAD Business School
Fontainebleau, France campus
2016-2017
Visiting Researcher
Financial Markets Development Group, Bank of Canada
2004-2005
Research
Interests
Empirical studies in corporate finance with a concentration on corporate debt policy, credit ratings, corporate governance, fraud, and law and finance. Interdisciplinary perspective with publications in finance, accounting, international business, and law and economics.
Presentations
Invited Presentations to Research Groups and Policymakers
2022 - Corporate Philanthropy Around the World: Institutional Context and Motivations
-Mount Royal University, invited presentation to faculty
2021 - Identifying and Removing Psychological Barriers to Financial Advice
-Financial Planning Week 2021, FP Canada, joint presentation with Dr. Laurence Ashworth
2021 - Corporate Philanthropy Around the World and its Darker Motivations
-Center for Social Impact, Queen’s University
2020 - Institutional Influence on Syndicate Structure and Cross-Border Leveraged Buyouts
-University of Regina, invited presentation to faculty. Scheduled – cancelled due to COVID-19
2016 - Do Bond Holders Price Senior Lenders’ Control Rights?
-University of Windsor, invited presentation to faculty.
-INSEAD Business School, finance brownbag series
2015 - Do Bond Holders Price Senior Lenders’ Control Rights?
-CPA Canada Accounting and Governance Research Centre Distinguished Speaker Series Telfer School of Management, University of Ottawa.
2012 - Credit Ratings: What Can Research Tell Us?
-Accounting Standards Oversight Council of Canada.
2011 - Detecting Fraud from the Language of Financial Reports
-University of Toronto, Invited presentation to the Law and Economics seminar series.
2010 - Detecting Fraud from the Language of Financial Reports
-Ryerson University, Invited presentation to finance faculty.
2010 - Credit Ratings in Emerging Markets
-Risk Management Conference sponsored by the Canadian Investment Review. Invited presentation to pension fund managers.
2009 - Do Independent Boards Behave Differently?
-University of Ontario Institute of Technology, invited presentation to finance faculty
2004 - Global Consistency of Credit Ratings: Firms versus Country-Specific Factors
-Bank of Canada, invited presentation to the Financial Markets Group.
Select Conference Presentations (Last 5 Years)
2020 - Identifying the Psychological Barriers to Seeking Investment Advice
-Academic Research Colloquium for Financial Planning and Related Disciplines
Washington, DC.
2017 - Policy Uncertainty and Analyst Accuracy throughout the Electoral and Economic Cycles
-Telfer Annual Conference in Accounting and Finance
Paris Financial Management Conference
2017 - Do Bondholders Price Senior Lender Control Rights?
-Journal of Law, Finance, and Accounting Conference
The Hong Kong Polytechnic University, Hong Kong
-Northern Finance Association Meetings, Halifax, Canada
2016 - Do Bondholders Price Senior Lender Control Rights?
-American Law and Economics Association Meetings
Harvard Law School, Cambridge, USA.
2016 - Can Club Deals Reduce Institutional Barriers to Cross-Border LBO’s?
-Paper development workshop sponsored by the Journal of International Business Studies
Cass Business School, City University London
Awards
Fellowships
2021 - RBC Fellow of Finance, Smith School of Business (2021-2024)
2018 - RBC Fellow of Finance, Smith School of Business (2018-2021)
2015 - RBC Fellow of Finance, Queen’s School of Business (2015–2018)
2012 - RBC Fellow of Finance, Queen’s School of Business (2012-2015)
2009 - RBC Fellow of Finance, Queen’s School of Business (2009-2012)
2000-2001 - Canadian Credit Management Foundation Fellowship, University of Toronto
1998 - William Osborne Twaits Fellowship, University of Toronto
1997-2000 - Connaught Fellowship, University of Toronto
Teaching Awards
2022 - Research Supervision Award, Smith School of Business
2018 - Nominee for the Queen’s Alumni Award for Excellence in Teaching
2015 - Instructor of the Year – Masters of Finance, Beijing section
2008 - Nominee for MBA Instructor of the Year
2005 - Nominee for Commerce Award for Teaching Excellence
Other Awards
2016 - Outstanding Reviewer Certificate, Canadian Journal of Administrative Sciences
2006 - Best Managerial Finance Paper Award, Northern Finance Association Conference. Awarded for the paper Voluntary Adoption of Corporate Governance Mechanisms.
2002 - Doctoral Completion Grant, University of Toronto
1996 - Award of Excellence, University of Manitoba
1996 - Graduated with Distinction, University of Manitoba
1994 - Wolinsky Scholarship in Management, University of Manitoba
1992 - Hogg Centennial Scholarship, University of Manitoba
Grants & Funding
Research Committee (2018)
Financial Planning Foundation | $33,070
Grant (2011)
SSHRC | $51,490
Grant (2006)
SSHRC | $47,293
Advisory Research Committee (2005)
Queen's University | $5,000
Advisory Research Committee (2004)
Queen's University | $5,000
D.I. MacLeod Research Assistantship (2003)
Queen's School of Business | $900
D.I. MacLeod Research Assistantship (2002)
Queen's School of Business | $1,800
Insight Grants (2019)
SSHRC | $55,825
Grant (2017)
SSHRC | $55,635
Grant (2017)
The Halbert Centre for Canadian Studies | $12,000
Grant (2008)
SSHRC | $60,500
Grant (2006)
SSHRC | $100,219
Grant (2008)
CA-Queen’s Centre for Governance | $5,000
Service
Professional Affiliations and Board Members
Northern Finance Association
- Sept. 2016 – March 2017 President
- Sept. 2015 – Sept. 2016 Conference Co-Chair and Co-Vice President.
- Shared responsibilities with Louis Gagnon Sept. 2014 – Sept. 2015 Board Secretary
- Sept. 2014 – present: Member of the Board of Directors
Community Foundation of Kingston and Area
- Sept. 2015 - present
- Member of the Investment Committee, overseeing endowed portfolio of approximately $20 million.
Queen’s University Investment Counsel
- 2010 – present
- Member of the Board of Directors, overseeing student run portfolio of approximately $850,000.
Reviewer Experience
Editorial Team Member
- The International Journal of Managerial Finance
Guest Editor
Special Issue on Financial Monitoring and its Consequences
The International Journal of Managerial Finance
Ad hoc Journal Referee
- The Canadian Journal of Administrative Sciences
- The Canadian Tax Journal
- Contemporary Accounting Research
- Economic Systems
- Eurasian Economic Review
- European Journal of Finance
- The Financial Review
- Journal of Applied Accounting Research
- Journal of Banking and Finance
- Journal of Business Ethics
- Journal of Business Finance and Accounting
- Journal of Corporate Finance
- Journal of Financial Research
- Journal of International Business Studies
- International Journal of Finance and Economics
- Intelligent Systems in Accounting, Finance and Management
- Multinational Finance
- Journal Revue Finance
Research Grant Reviewer
- Agence Nationale de la Recherche/ National Research Agency of France (2011)
- Hong Kong Research Grant Council (2008)
- Social Sciences and Humanities Research Council (SSHRC) Canada (2007, 2012, 2015, 2017)
- Canada Research Chair (2017)
Program Committee Member
- Northern Finance Association Meetings (2006, 2008, 20102018)
- Financial Management Association Meetings (2007)
- Midwest Finance Association Meetings (2012, 2013)
External Assessor for Program Review
- St. Mary’s University, Finance Major Program (2017)
Professional Certifications
Chartered Financial Analyst Designation
2000
Canadian Securities Course
1995