- Office: HAM 206
Dr. Valsan is a Professor of Finance in the Williams School of Business at Bishop’s University. He earned his Bachelor of Science in Bucharest and his Ph.D. from Virginia Polytechnic Institute and State University. He teaches Corporate Finance, Corporate Governance, Capital Budgeting, Capital Markets and International Finance. During his academic career, Dr. Valsan held various research and teaching appointments at the Academy for Economic Studies in Bucharest, Virginia Tech in Blacksburg, York University in Toronto, Lakehead University in Thunder Bay, and University of New Brunswick in Saint John. Before earning his doctoral degree, he worked as a senior manager in charge of financial planning and operations.
Currently, Dr. Valsan researches corporate governance and agent-based simulations in finance. Dr. Valsan’s past research interests dealt with capital structure theory and its applications to economies in transition. He also studied the economics of art auctions, comparing auction results in Canada and the United States.
Dr. Valsan’s past research interests dealt with capital structure theory and its applications to economies in transition. He also studied the economics of art auctions, comparing auction results in Canada and the United States, and clarifying the relationship between pre-auction estimates and realized hammer prices.
Currently, Dr. Valsan researches corporate governance. More specifically, he is investigating the ownership of the publicly held Canadian corporation listed on the Toronto Stock Exchange. Since corporate ownership in Canada is more concentrated that in the United States, his research will hopefully shed more light on the relationship between ownership entrenchment and operating efficiency.
Dr. Valsan’s contributions include:
“The Market for Art in Canada” in A Guide to International Art Markets, James Goodwin editor, Kogan Page, forthcoming in 2008 (with Derrick Chong)
“The Invisible Hands behind the Student Evaluation of Teaching: The Rise of the New Managerial Elite in the Governance of Higher Education,” September 2007 (with Robert Sproule), Working paper
“Hammer Prices and Pre-Auction Estimates: A Study in Abstract Art,” July 2007 (with Robert Sproule), Working paper
“Hedonic Models and Pre-Auction Estimates: Abstract Art Revisited,” Economic Bulletin, volume 26, 5, 2006, 1-10 (with Robert Sproule)
“Talking Prices: Symbolic Meanings of Prices on the Market for Contemporary Art,” by Olav Velthuis: Princeton, Princeton University Press, 2005, 288 pp., in Journal of Cultural Economics, volume 30, 2, September 2006, 165-169 (Book review)
“The Determinants of Borrowing in the Case of the Newly Exchange-Listed Firms in Romania: When Adverse Selection Meets Cronyism,” Post-Communist Economies, 17, 1, March 2005
“Do Stockholders Really Hedge Against Changes in Inflation?” Journal of Current Research in Global Business, Winter 2003, 1-10. (with Bahram Dadgostar)
“Canadian versus American Art: What Pays Off and Why,” Journal of Cultural Economics, 26, Kluwer Academic Publishing, 2002, 203-216
“Three Measures of Corporate Restructuring in a Transition Economy: the Case of the Newly Privatized Romanian Companies,” Post-Communist Economies, Vol. 13, No. 1, 2001, 121-128
“Early Privatization in Romania: The Period of Management and Employee Buyouts -1991 to 1995,” Eastern European Economics, November-December 1999, 35-54 (with G. Rodney Thompson)
Nine case studies to accompany Foundations of Financial Management by Block, Hirt, and Short, Seventh Canadian Edition, McGraw-Hill Ryerson, 2005.
Nine case studies to accompany Fundamentals of Corporate Finance by Ross, Westerfield, Jordan, and Roberts, Fifth Canadian Edition, McGraw-Hill Ryerson, 2004
Valsan, Calin. 2001. Nine accompanying case studies. In Ross, Westerfield, Jordan, and Roberts Fundamentals of Corporate Finance. Fourth Canadian Edition: MacGraw-Hill Ryerson.