Lukas Roth joined the faculty of the Alberta School of Business at the University of Alberta as an Assistant Professor in 2009 and was appointed Associate Professor of Finance in 2015 (with tenure). Lukas has held visiting positions at the Pennsylvania State University, University of Zurich, Swiss Federal Institute of Technology of Lausanne (EPFL), Università Cattolica, and Development Bank of Japan. Lukas’ research is focused primarily on corporate finance and sustainable finance. His research has been published in leading academic journals, including the Journal of Financial Economics, Review of Financial Studies, and Journal of Accounting Research, as well as practitioner-oriented journals, such as the Journal of Applied Corporate Finance. Lukas is currently teaching in the undergraduate, Master of Financial Management, and MAcc programs at the Alberta School of Business.
This course is a combination of on site study tours to a foreign country and academic coursework. The study tour component will normally be for a two to three week period, during which students will participate in company tours, lectures and language and cultural study to develop an appreciation for different business cultures and contexts. Upon return, students will be expected to complete a group project or case study relating to the business environment of the country under study. Prerequisites: Preference will be given to students who have completed at least one other international business course in the Faculty of Business.
Combines lectures at the University of Alberta with an onsite study tour to a foreign country. The study tour component is normally for a one-to-two week period, during which students participate in company tours and lectures, to develop an appreciation for different business cultures and contexts. Students are usually expected to complete projects or case studies relating to the country under study. Check with MBA office for enrolment restrictions. Credit will not be given for both BUS 648 and any other study tour to the same destination. Students may receive credit for only two of the following three courses: BUS 648, BUEC 648, SEM 648.
Types of securities and basic methods of valuation. Valuation and selection of physical and intellectual assets. Operation of asset markets and market efficiency. Risk measures and risk reduction methods. Financing policy, including choices between debt and equity financing. Note: Students are expected to have basic familiarity with microcomputer applications. Prerequisite: STAT 151, SCI 151 or equivalent. Pre- or corequisite: MGTSC 312, ACCTG 300 or 311.
Capital market participants around the world are increasingly focusing on ESG (environmental, social, and governance) issues to manage risks and capitalize on new opportunities. This course provides a conceptual and theoretical framework of how ESG issues affect corporations, investors, governments, NGOs, society, and other stakeholders. The goal is to critically assess the motivations and actions of the various agents regarding ESG policies as well as the resulting consequences. This course will be useful for a wide range of finance (and other) professions. Prerequisite: FIN 301.
Research - Publications
Director Expertise And Corporate Sustainability, 2023, with Peter Iliev, Review of Finance, forthcoming.
- Northern Finance Association Best Paper Award on Sustainable Finance, 2020.
- Summarized in the Blog of the Global Financial Markets Center at Duke University School of Law.
Renewable Governance: Good for the Environment?, 2023, with Alexander Dyck, Karl Lins, Mitch Towner, and Hannes Wagner, Journal of Accounting Research 61, 279-327.
- FMA Global Conference in Latin America Best Paper Award, 2019.
Cash Holdings and Access to External Finance: Evidence from the Bank Loan Market, 2022, with Adelina Barbalau and Mark Huson, Review of Corporate Finance 2, 65-97.
Do Institutional Investors Drive Corporate Social Responsibility? International Evidence, 2019, with Alexander Dyck, Karl Lins, and Hannes Wagner, Journal of Financial Economics 131, 693-714.
- Investment for Impact Research Prize, Center for Responsible Business at UC Berkeley-Haas, 2017.
- Summarized in the Harvard Law School Forum on Corporate Governance and Financial Regulation.
Learning from Directors’ Foreign Board Experiences, 2018, with Peter Iliev, Journal of Corporate Finance 51, 1-19.
- Lead Article.
- Summarized in the Columbia Law School’s Blog on Corporations and the Capital Market.
Creditor Protection Laws, Debt Financing, and Corporate Investment over the Business Cycle, 2017, with Yaxuan Qi and John Wald, Journal of International Business Studies 48, 477-497.
Shareholder Voting and Corporate Governance Around the World, 2015, with Peter Iliev, Karl Lins, and Darius Miller, Review of Financial Studies 28, 2167-2202.
- RFS Lead Article & Editor’s Choice Article
- Summarized in the Harvard Law School Forum on Corporate Governance and Financial Regulation
Uninvited U.S. Investors? Economic Consequences of Involuntary Cross-Listings, 2014, with Peter Iliev and Darius Miller, Journal of Accounting Research 52, 473-519.
- Best Paper Award at the 2010 IIROC/DeGroote Conference.
Political Rights and the Cost of Debt, 2010, with Yaxuan Qi and John Wald, Journal of Financial Economics 95, 202-226.
- Best Paper Award in International Finance at the 2008 FMA Meeting.
How Legal Environments Affect the Use of Bond Covenants, 2011, with Yaxuan Qi and John Wald, Journal of International Business Studies 42, 235-262.
- Mirae Asset Securities Co., Ltd. Outstanding Paper Award at the 2009 International Conference on Asia-Pacific Financial Markets.
Shareholder Value: Principles, Declarations, and Actions, 2010, with Petra Joerg, Claudio Loderer, and Urs Waelchli, Financial Management 39, 5-32.
Black's Simple Discounting Rule: A Simple Implementation, 2010, with Claudio Loderer and John B. Long, Journal of Applied Corporate Finance 22, 60-68.
The Pricing Discount for Limited Liquidity: Evidence from SWX Swiss Exchange and the Nasdaq, 2005, with Claudio Loderer, Journal of Empirical Finance 12, 239-268.
Socialism and Intrafirm Asset Allocation, 2005, with Petra Joerg and Claudio Loderer, European Financial Management 11, 133-152.
Shareholder Value Maximization: What Managers Say and What They Do, 2004, with Petra Joerg and Claudio Loderer, Die Betriebswirtschaft 64, 335-376.