ALASTAIR MURDOCH, Ph.D., C.A.

 

Department of Accounting and Finance Phone: (204) 474 - 8439
Faculty of Management, University of Manitoba Fax: (204) 474 - 7545
Winnipeg, Manitoba, CANADA R3T 5V4 E-mail: alastair_murdoch@UManitoba.ca

Academic credentials
1992 Ph.D. University of Washington Financial Accounting, Finance, Statistics
1988 M.Sc. University of Saskatchewan Accounting
1976 M.A. University of Western Ontario Economics
1973 B.A.(Honours) University of Victoria Computing Science

Professional credentials

Chartered Accountant (British Columbia , 1981; Manitoba, 1993)
Completed in 1998 the CICA In-Depth Tax Course, courtesy of the CICA and ICAM

 

Academic experience

While in academe I:

 

Professional accounting experience In these positions I: Human resource management experience While a human resource officer I:

 

 

 

 

 

 

 

 

 

Additional information

Community and professional memberships and service:

Teaching subjects:

 

Unrefereed publications:

Reviews:

Research interests:

My interests fall into three broad areas:

  1. Investments and the (financial and taxation) accounting for them, particularly hybrid securities (i.e. those having both equity and debt characteristics)
  2. Accounting and the determinants of firm value
  3. Public policy, particularly that subject to economic analysis
My first work on hybrid securities was my master's thesis, which examined debt and preferred shares issued in 1985 with both debt and equity characteristics. Subsequent work has examined preferred shares and to a lesser extent debt issued since 1985. I continue to examine the question as to whether there is really a clear dichotomy between debt and equity, or whether there is continuum from common shares to debt, with preferred shares and convertible debt falling somewhere in the middle. I have presented papers that examine the extent to which covenants in preferred share contracts resemble those in debt contracts and that examine whether preferred shares have the same impact on common stock betas as debt does. I am currently examining the effect of the 1996 change in accounting principles which requires some types of preferred shares to be classified as liabilities rather than equity.
My work on the determinants of firm value has attempted to marry my interests in economics, finance, and accounting. My doctoral dissertation developed a model of firm value as a function of the firm's investment, growth in operating assets, risk, and tax. A second project re-examined Miller and Modigliani's 1966 work looking at the effects of debt and taxes on firm value.
My interest in public policy dates back to my graduate work in Economics in the 1970s. I continue my reading in this area, paying particular attention to the work of the Fraser Institute. I have written two working papers, one on guaranteed annual (or life-time) income and the other on government debt and deficits.

Working papers (cross-referenced items with DOC extension are available in MS WORD 6.0; with AJM extension are available in WordPerfect 5.1 for DOS):

Ad hoc reviewer for:

 

University committee and administrative service:

 

Organizer:

 The Certified General Accountants' Associations and the University of Manitoba 1995, 1996, and 1998 Accounting Research Mini-Conferences.

Performing arts resume:

Other :

I communicate in English and French. With the aid of a dictionary and with some difficulty I can read German, Latin, and Spanish.

My personality type is INTJ. For an alternative reference, click here.

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