David Stangeland, PhD, BComm (Distinction), CPA, CMA, did his undergraduate and graduate university education at the University of Alberta in Edmonton. In 1991, he moved to Winnipeg where he joined the Accounting and Finance Department at the Asper School of Business. He is currently on sabbatical, but in the fall of 2022 will return to his position as Professor of Finance within the Department of Accounting and Finance.

Dr. Stangeland's primary area of research is on corporate governance and control and the effect on corporate performance and value. Issues examined included unsuccessful takeovers, takeover defences, shareholder rights, earnings quality, and ownership structure. Specific emphasis is on how these issues affect corporate operating performance, investment levels, and equity valuation. Some of this work is published in the research volumes, Corporate Decision-Making in Canada, Concentrated Corporate Ownership, and in journals, Business Quarterly, the Journal of Corporate Finance, and the Stanford Journal of Law, Business and Finance. Much of the international aspect of this work concentrates on US and Canadian firms with comparisons of ownership structure and operating efficiency across the two countries. His research with Dr. Randall Morck (University of Alberta) and Dr. Bernard Yeung (University of Michigan) extends the above analysis to encompass countries from around the world. The National Bureau of Economic Research of the United States provided support and publication of some of this research.

In conjunction with Dr. Harry Turtle (Colorado State University) and Dr. Christos Pantzalis (University of South Florida), Dr. Stangeland has examined the effects of national elections on equity markets around the globe. This research addresses the degree of uncertainty resolution surrounding elections by classifying elections according to the outcome and the degree of economic, political, and press-freedom in the countries studied. The I.H. Asper School of Business' CIBS provided seed-money to fund this research and additional support was provided by the SSHRC (Dr. Turtle). This research is published in the Journal of Banking and Finance. Dr. Stangeland's other works have been published in the following refereed journals: the Journal of Financial and Quantitative Analysis, the Journal of Financial Education, the Journal of Business and Economics Research, the Journal of Corporate Ownership and Control, the Review of Accounting and Finance, Financial Management and the Journal of International Financial Markets, Institutions and Money. In addition to the co-authors mentioned above, Dr. Stangeland’s research has been in conjunction with Dr. David Manry (University of New Orleans) and from the University of Manitoba: Dr. Charles Mossman, Dr. Steven Zheng, Dr. Stephen Alford, Dr. Gady Jacoby, Dr. Zhenyu Wu. Dr. Stangeland has been a frequent journal and conference reviewer. His research is well cited and has won the Irwin Distinguished Paper Award from the Southwestern Federation of Administrative Disciplines and the Associates Achievement Award for Research of the I.H. Asper School of Business.

Dr. Stangeland is a two-time winner of the CMA Canada Academic Merit Award for combined excellence in teaching and research and he has been a four-time recipient of the Certificate of Teaching Excellence from the University Teaching Services and UMSU at the University of Manitoba. Dr. Stangeland developed, introduced and taught the first investment banking course at the University of Manitoba. He regularly teaches corporate finance, managerial economics and international finance. He reintroduced the international study trip course into the MBA program and led a group of students to Brazil and subsequently to the Manitoba Legislature where they presented their findings on Manitoba/Brazil business opportunities. His teaching spans the undergraduate, MBA, and PhD levels. International teaching assignments have also been common for Dr. Stangeland. In 1998, he taught MBA International Finance in the Czech Republic under the sponsorship of the Canadian Consortium of Management Schools and the Canadian International Development Agency. In 2000 he taught managerial finance in a post-degree program in the People's Republic of China. He also teaches the managerial finance course to MBA students at the Warsaw School of Economics each summer (since 2000) in Poland. Dr. Stangeland is co-author on two corporate finance textbooks (nine individual editions) that are widely used across Canada for undergraduate and MBA corporate finance classes.

Dr. Stangeland’s leadership roles and responsibilities have been numerous over his career at the University of Manitoba. In 1999, he became the Head of the Accounting and Finance Department and oversaw the implementation of the Finance PhD program. He championed and led the introduction of the first distance education courses offered in the Asper School and oversaw their offering for undergraduate Financial Accounting, Management Accounting, and Corporate Finance courses. While Head of Accounting and Finance, he also agreed to take on the role of Acting Head of Economics in the Faculty of Arts from 2008 to 2010. From 2009 to 2014, Dr. Stangeland was the Associate Dean, Programs and Administration, of the Asper School of Business overseeing the Undergraduate, MBA, International Exchange, and Co-op Programs. He championed the development of the Bloomberg Lab and worked with the business community to raise the funds that allowed for its implementation. Dr. Stangeland proposed, designed, and secured approvals for the research-based Finance MSc Program. He developed and finalized international exchange agreements with new partner universities abroad. He finalized and implemented the curriculum revisions for the Bachelor of Commerce Program. He led the MBA program review, championed changes to the program and co-wrote (with Marci Elliott – the MBA Director) the first drafts of the new curriculum that would eventually be adopted. After a leave from administration and a year as a regular professor, Dr. Stangeland served as Department Head of Accounting and Finance from 2015-2017 and from 2017 to 2021 as Associate Dean for the Asper School of Business. During his associate deanship, Dr. Stangeland executed many of the mandates of the School’s strategic plan, and contributed greatly to the expansion and enhancement of the Stu Clark Graduate School. This included overseeing the Undergraduate and International programs and then overseeing Professional Programs such as the MBA, MFin, MSCM, and Executive Education. Dr. Stangeland also implemented the professional Master of Finance program, coordinated the approvals and implementation of the Master of Supply Chain Management and Logistics program (with Bruno Silvestre who was the program champion), and oversaw the introduction of co-op programs into the MSCM, Master of Finance and MBA programs.

In addition to his Ph.D. in finance from the University of Alberta, Dr. Stangeland is a professional accountant (CPA, CMA). Dr. Stangeland served on the National Board of Directors for CMA Canada and chaired CMA Canada’s Pension Committee – overseeing the modernization of their pension offerings. Dr. Stangeland also serves on the Pension Committees and Investment Committees for the University of Manitoba Pension Plans, is a former member of the Investment Committee for the Teachers’ Retirement Allowances Fund (TRAF) of Manitoba, and has been a member of the Independent Review Committees for mutual fund companies. Dr. Stangeland is a member of the Board of Directors of the non-profit charitable organization, Community Financial Counseling Services, and serves on its Finance Committee.

Dr. Stangeland and his partner, Hayden, enjoy spending time cooking, travelling, running and cycling and, when they get a chance, skiing in the Rockies or going to their condo in Puerto Vallarta, Mexico.

Research Interests

Corporate governance, control and valuation effects: mergers, acquisitions, ownership structure, antitakeover defences; international Finance

Teaching Interests

  • Corporate Finance
  • Investment Banking
  • International Finance