University of Calgary

Peggy Hedges

  • Professor (Teaching)
  • Director - Westman Centre
  • Haskayne Teaching Fellow
  • ExecEd
  • Faculty - Executive Education
  • Faculty [FNCE]

Currently Teaching




Peggy Hedges was a commercial lending manager for a large Canadian financial institution prior to joining the Faculty in 1990. She has a BSc. in Botany, MBA in Finance and a PhD. in Environmental Planning.  As well, she is a Fellow of the Institute of Canadian Bankers and a Fellow of the Canadian Securities Institute.

Peggy has developed and taught corporate, personal, investment, institutional and public finance courses for the University of Calgary, Athabasca University, Mount Royal College and the University of Northern British Columbia.

She teaches undergraduate, graduate and executive education courses and has a passion for teaching introductory courses.

Peggy’s research examines the links between resource allocation decisions, policy and budgeting processes in highly regulated environments.  Peggy has published papers in entrepreneurship, risk management and has co-authored a textbook on corporate financial management.  She is currently working on papers in risk management, bias in lending and is co-authoring a second textbook.

Peggy has been nominated several times for the University of Calgary Student’s Union Teaching Excellence Award and was the recipient of the Dean’s Award for Teaching Excellence in the Haskayne School of Business.

Peggy is an officer in a firm which specializes in providing custom financial seminars to corporate clients and development of multi-media finance courses.  She serves on various boards and is an active community volunteer.

Research and Publications:

Practical Financial Management, Second Canadian Edition, Lasher, Hedges and Fegarty. Nelson Thomson Learning, 2008. This is an introductory corporate finance text.

Alternatives to Cash in Ensuring the Solvency of Defined Benefit Pension Funds, Peggy Hedges, Ryan Lee and Norma Nielson.  Benefits Quarterly, 24 (3),Third Quarter 2008.

Effects of concentrated ownership and owner-management on small business debt financing, Zhenyu Wu, Peggy Hedges and Shali Zhang.  Journal of Small Business Management, Volume 45, Issue 4, October 2007

Deterioration in borrowing terms in small businesses: an agency perspective, Peggy Hedges, Zhenyu Wu and Jess Chua.  Journal of Small Business and Entrepreneurship, Issue 20 (1), January 2007

The diversification discount: the case of Canadian Pacific Limited, Carlton Osakwe and Peggy Hedges Haskayne School of Business Working paper #2002-17.


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