University of Calgary

Michael Robinson

  • Chen Fong Fellowship Entre F
  • Professor
  • Faculty - Executive Education
  • Faculty [FNCE]

Currently Teaching

Not currently teaching any courses.

Department

Entrepreneurial Finance

Bio

Dr. Robinson is a Professor and the Chen Fong Fellow in Entrepreneurial Finance in the Haskayne School of Business, an organization he joined in 1990. He has a B. Math degree (Majoring in Computer Science) from the University of Waterloo, and an MBA and Ph.D. in Finance from the University of Western Ontario. He also is a holder of the Chartered Financial Analyst (CFA) designation granted by the CFA Institute in Charlottesville, Virginia, and the certified corporate director designation (ICD.D) from the Institute of Corporate Directors in Toronto, Ontario.

Dr. Robinson has taught investments, portfolio management, new venture finance, and corporate governance to undergraduate, MBA, Executive MBA, and executive education students. He founded the Calgary Portfolio Management Trust (CPMT) program, a hands-on student investment fund, at the Haskayne School of Business in 1993. For the past fifteen years he has served as an Academic Director of the Haskayne Directors’ Education Program (DEP), a joint initiative of the Haskayne School of Business, the Rotman School of Management, and the Institute of Corporate Directors. He was the first site lead for the Creative Destruction Lab Rockies program and continues to serve as its Academic Director. He was awarded the Haskayne Dean’s Award for Teaching Excellence for the 2005/2006 academic year and the Dean’s Award for Outstanding Service Leadership in 2017.

Dr. Robinson has non-academic work experience as a computer programmer and systems analyst, and as a Venture Capitalist while on a three-year leave from the University of Calgary. In this later position he was the lead investor for several multi-million dollar investments in high technology firms in Western Canada. Dr. Robinson has served as a member of the Board of Directors for a number of private and public Canadian companies and other organizations.  His most notable board role was as the Chair of the Investment Operations Committee which provided oversight of Alberta Investment Management, a then department of Alberta Finance, which managed over $50 billion of assets on behalf of the Government of Alberta and selected public sector pension plans. He has also served on the Board of the Calgary CFA Society, the Board of Governors of the Glenbow Museum, the Board of Governors of the Certified General Accountants of Alberta, and on the APEX Supplementary Pension Board. He currently serves on the Investment Advisory Committee of the City of Calgary. 

Dr. Robinson has published several books and academic research papers that study Canadian capital markets, market efficiency, and methods of raising equity capital for developing firms. His most recent interests include corporate governance practices in Canada, the role of a firm’s board of directors in growth oriented firms, and the role of the private and junior public equity markets in financing developing firms in Canada. A list of his recent publications is as follows:


Refereed Research Articles
:

Can Spending Time in the Minors Pay Off? An Examination of the Canadian Junior Public Equity Markets, (with Michele Meoli, J. Ari Pandes, and Silvio Vismara), Journal of Small Business Management, Vol. 56, S1, 2018, 88-107.

The Role of Agents in Private Entrepreneurial Finance, (with Douglas J. Cumming and J. Ari Pandes),Entrepreneurship Theory & Practice, Vol. 39, No. 2, 2015, 345-374.

Is Effective Junior Equity Market Regulation Possible? (with J. Ari Pandes), Financial Analysts Journal, Vol. 70, No. 4, 2014, 42-54.

The IPO Market in Canada: What a Comparison with the United States Tells Us About a Global Problem, (with Bryce C. Tingle and J. Ari Pandes), Canadian Business Law Journal, Vol. 54, No. 3, 2013, 321-367.

Signaling Sustainability Leadership: Empirical Evidence of the Value of DJSI Membership, (with Anne Kleffner and Stephanie Bertels), Journal of Business Ethics, Vol. 101, No. 3, 2011, 493-505.

Investment Patterns of Informal Investors in the Alberta Private Equity Market, (with Thomas Cottrell), Journal of Small Business Management, Vol. 45, No. 1, 2007, 47-67.

Uncertainty Resolution under Extreme Information Asymmetry: The Case of Alberta’s Private Equity Markets, (with Thomas Cottrell), International Business & Economics Research Journal, Vol. 4, No. 1, January 2005, 23-36.

Intraday Volatility and Trading Volume after Takeover Announcements, (with Brian F. Smith,  Robert White, and Richard Nason), Journal of Banking & Finance, Vol. 21, 1997, 337-368.

The Day-of-the-Week Anomaly: The Toronto Stock Exchange Experience, (with George Athanassakos), Journal of Business, Finance & Accounting, Vol. 21, No. 6, 1994, 833-856.

An Overview of the Canadian Block Trading Market, (with Robert White), Canadian Investment Review, summer, 1994, 7-11.

Equity Index Funds - Have They Finally Arrived in Canada? (with James E. Hatch), Business Quarterly, Autumn, 1985, 51-60.

Books:

Summarybook CFA Level I (with Andre Dorsman), Reed Business Information bv, The Hague, Netherlands, 2004.

Investment and Portfolio Management (Updated an earlier version written by Lawrence Kryzanowski), The Institute of Canadian Bankers, Montreal, Quebec, 1998.

Canadian Capital Markets (with Brian F. Smith), TSE/Western Business School, 1993.

Investment Management in Canada, Second Edition (with James E. Hatch), Prentice-Hall Canada Inc., Scarborough, Ontario, 1989.

Investment Management in Canada, Second Edition Instructor's Manual (with James E. Hatch), Prentice-Hall Canada Inc., Scarborough, Ontario, 1989.

Chapters in Books
:

Is Exchange Regulation Effective for Junior Public Equity Markets? (with J. Ari Pandes), Douglas Cumming and Sofia Johans (Eds.), Oxford Handbook of IPOs, Oxford University Press, Oxford, U.K., 2018, 487-505.

The Canadian Junior IPO market and the Capital Pool Company Program (with J. Ari Pandes),  Mario Levis and Silvio Vismara (Eds.), Handbook of Research on IPOs, Edward Elgar, London, U.K., 2013, 124-140.

Chapter 1: Introduction in Summarybook CFA Level I, Andre Dorsman and Michael J. Robinson, Reed Business Information bv, The Hague, Netherlands, 2004, 13-16.

Chapter 2: Ethical and Professional Standards in Summarybook CFA Level I, Andre Dorsman and Michael J. Robinson, Reed Business Information bv, The Hague, Netherlands, 2004, 17-28.

Chapter 8: Portfolio Management in Summarybook CFA Level I, Andre Dorsman and Michael J. Robinson, Reed Business Information bv, The Hague, Netherlands, 2004, 122-135.

Chapter 12: Alternative Investments in Summarybook CFA Level I, Andre Dorsman and Michael J. Robinson, Reed Business Information bv, The Hague, Netherlands, 2004, 176-188.

Canadian Oil and Gas Industry Transformations: A Model for Success, in Innovation and Transformation in the Oil Industry: Global Experiences, Anjali Hazarika and U.K. Dikshit, Ed., Tata McGraw-Hill Publishing Company Limited, New Delhi, India, 1997, 85-106.

Raising Equity Capital For Small And Medium-Sized Enterprises Using Canada’s Public Equity Markets, in Financing Growth in Canada, Paul Halpern, Ed., University of Calgary Press, 1997, 593-636.

An Empirical Examination of the Market Model, in Canadian Capital Markets, Michael J. Robinson and Brian F. Smith, Ed., TSE/Western Business School, 1993, 45-72.

Univariate Canadian CAPM Tests, in Canadian Capital Markets, Michael J. Robinson and Brian F. Smith, Ed., TSE/Western Business School, 1993, 101-119.


Degrees

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