Ashraf Zaman


Sobey School of Business
Finance Info Sys and Mgmt Science

Faculty Member Information

Interests

Asset pricing and portfolio management, Corporate finance, and Pension and Household Finance

Education

Ph.D., Financial Economics, Purdue University, 2004
M.S., Economics, Krannert Graduate School of Management , 2002
M.A., Economics, Ohio University, 2000
B.A., Economics (cum laude), Ohio University, 1998
B.S., Biochemistry, Ohio University, 1997

Membership

2005 - Present, American Economic Association
2005 - Present, American Finance Association
2005 - Present, Financial Management Association

Honours

Nomination for the MBA Professor of the Year Award Saint Mary's University - 2012
Recognition for Teaching Excellence Purdue University - 2003
Distinguished Teaching Award Purdue University - 2002
Distinguished Teaching Award Purdue University - 2001
Graduate Scholarship, 1999-2004 Purdue University - 1999
Graduate Scholarship, 1998-1999 Ohio University - 1998

Teaching: Course / Program Development

2006/03 - Present, Teaching Experience MBA at Saint Mary's University
2006/03 - 2011/03, Teaching Experience MBA-CMA at Saint Mary's University
2006/03 - 2011/03, Teaching Experience MFIN at Saint Mary's University
2003/03 - Present, Teaching Experience BCOM at Saint Mary's University

Scholarly Contributions

Journal Articles

Zaman Ashraf. "Distributional Impacts of Canada's Tax-Free Savings Accounts", Canadian Public Policy 43:4 (Fall - 2017), 331-349
Zaman Ashraf. "The Distributional Impacts of Canada's Tax-Free Savings Accounts", Canadian Public Policy 43:4 (Fall - 2017), 331–349
Rahaman M., Zaman A. "Management Quality and the Cost of Debt: Does Management Matter to Lenders?", Journal of Banking and Finance 37:3 (Spring - 2013), 854-874
Sy O, Zaman A. "Gridlock versus Harmony: The Effect of Presidential Cycle", International Journal of Portfolio Analysis and Management 1:3 (Spring - 2013), 288-298
Horan S, Zaman Ashraf. "Risk-Sharing Implications for Roth IRA conversions: Fact and Fiction", Financial Services Review 22:2 (Spring - 2013), 193-213
Sy O, Zaman A. "Resolving the Presidential Puzzle", Financial Management 40:2 (Spring - 2011), 331-355
Mackinnon G, Zaman A. "Real Estate for the Long Term: The Effect of Return Predictability on Long Horizon Allocations", Real Estate Economics 37:1 (Spring - 2009), 117-153
Horan S, Zaman A. "IRAs under progressive tax regimes and income growth", Financial Services Review 18:3 (Spring - 2009), 195-211
Horan S, Zaman A. "Tax-Adjusted Portfolio Optimization and Asset Location: Extensions and Synthesis", Journal of Wealth Management 11:3 (Spring - 2008), 56-73
Zaman A.. "Reconsidering IRA and Roth IRA Keeping Bequests and Other Options in Mind", Journal of Wealth Management 11:2 (Spring - 2008), 82-92

Presentation

Zaman Ashraf. "Northern Finance Association (NFA) Meetings" (Fall - 2017)
Zaman Ashraf. "Annual Meeting of the Financial Management Association (FMA)," (Fall - 2017)
Zaman Ashraf. "Canadian Economic Association (CEA) Meetings" (Summer - 2016)
Zaman Ashraf. "Northern Finance Association (NFA) Meetings" (Fall - 2015)
Zaman Ashraf. "Annual Meeting of the Financial Management Association ", Financial Management Association (Spring - 2014)
Zaman Ashraf. "Annual Meeting of the Financial Management Association ", Financial Management Association (Spring - 2012)
Zaman Ashraf. "Northern Finance Association (NFA) Meetings", Northern Finance Association (Spring - 2012)
Zaman Ashraf. "Northern Finance Association (NFA) Meetings", Northern Finance Association (Spring - 2011)
Zaman Ashraf. "Canadian Economic Association (CEA) Meetings", Canadian Economic Association (Spring - 2011)
Zaman Ashraf. "Canadian Economic Association (CEA) Meetings", Canadian Economic Association (Spring - 2010)
Zaman Ashraf. "Annual Meeting of the Financial Management Association ", Financial Management Association (Spring - 2009)
Zaman Ashraf. "Annual Meeting of the Eastern Finance Association (EFA)", Eastern Finance Association (Spring - 2009)
Zaman Ashraf. "Retirement Planning Association of Canada (RPAC)", 30th Annual National Conferenc (Spring - 2009)
Zaman Ashraf. "30th Annual National Conferenc" (Spring - 2009)
Zaman Ashraf. "Annual Meeting of the Financial Management Association ", Financial Management Association (Spring - 2008)
Zaman Ashraf. "15th Annual Conference of Multinational Finance Society (MFS)", Multinational Finance Society (Spring - 2008)
Zaman Ashraf. "Annual Meeting of the Eastern Finance Association (EFA)", Eastern Finance Association (Spring - 2008)
Zaman Ashraf. "ASAC Annual Conference", ASAC (Spring - 2008)
Zaman Ashraf. "Advances in Portfolio Decision Making" (Spring - 2007)

Conference Proceedings

Lightstone K, Zaman A. "Reassessing Canadian Hedging Practices: A Survey Study", Administrative Sciences Association of Canada (ASAC) (2008 - 2008)

Other Publications

Zaman Ashraf. "Cash holding and technological development: Evidence from IT mediated improvement in inventory management " (Spring - 2015)
Zaman Ashraf, Rahaman M, Rau R. "How Does Supply-Side Flexibility Affect Loan Financing? Evidence from Uncertainty Shocks " (Spring - 2015)
Zaman Ashraf. "Cash holdings, market frictions and monetary policy: An investigation of increase in cash holdings "
FMA meetings (Spring - 2012)
Sy O, Zaman Ashraf. "Politics and Stock Returns: A Rationalization " (Spring - 2011)
Zaman Ashraf. "Contribution Limit and Retirement Saving "
NFA (Spring - 2011)
Charupat N, Zaman Ashraf. "Commodity futures investing and commodity currency countries "
CEA (Spring - 2010)
Zaman Ashraf. "Contribution Limit and Retirement Saving "
EFA (Spring - 2009)
Zaman Ashraf. "Taking a Closer Look at the RRSP and TFSA"
Advisor’s Edge Report (Spring - 2008)

Service: Institutional Committees

Masters of Finance Council, 2009/03 - 2011/03 (Member)
Masters of Finance Council, 2007/03 - 2010/03 (Member)
University Pension Committee , 2007/03 - 2011/03 (Member)
Joint University- SMUFU Recruitment Committee , 2006/03 - 2006/03 (Member)
Learning outcomes oversight committee , 2004/03 - 2006/03 (Member)
Critical Thinking subcommittee, 2004/03 - 2006/03 (Chair)
BComm Council, 2004/03 - 2006/03 (Member)

Service: Professional or Disciplinary

Referee, Global Finance Journal, 2017/01 - Present
Referee, Financial Management, 2016/04 - Present
Referee, Journal of Financial and Quantitative Analysis, 2016/01 - Present
Guest Associate Editor, Decision Sciences Journal, 2014/02 - 2015/01
Program Committee Member, Northern Finance Association 2013/03 - 2014/03
Program Committee Member, Northern Finance Association (NFA), 2013/02 - 2015/02
Program Committee Member, Midwest Finance Association (MFA) 2010/03 - 2010/03
Discussant, NFA 2010/03 - 2011/03
Discussant, FMA 2010/03 - 2012/03
Reviewer, The 2012 SFS Finance Cavalcade, USA 2010/02 - 2011/01
Chair (Finance Theory Sessions), CEA 2009/03 - 2009/03
Discussant, CEA 2009/03 - 2010/03
Program Committee Member, Northern Finance Association 2008/03 - 2009/03
Program Committee Member, Eastern Finance Association 2008/03 - 2010/03
Program Committee Member, Midwest Finance Association (MFA) 2008/03 - 2008/03
Referee, European Journal of Finance 2007/03 - Present
Referee, Journal of Economics and Finance 2007/03 - Present
Referee, Real Estate Economics 2007/03 - Present
Reviewer, Futures Market 2007/03 - Present
Program Committee Member, Financial Management Association Annual Meeting, USA 2007/03 - Present
Chair (Finance Division), ASAC 2007/03 - 2007/03
Reviewer (Finance Division), ASAC 2006/03 - 2007/03
Book Reviewer, Corporate Finance 2005/03 - 2005/03
Reviewer (Cases), ASAC 2004/03 - 2006/03

Biography

<p>Dr. Ashraf Al Zaman is an Associate Professor in the Department of Finance, Information Systems and Management Science, Sobey School of Business. His teaching experience includes courses in corporate finance, international financial management, portfolio management, investments, and econometrics to undergraduate and graduate students. His supervision experience includes supervising students in the Master of Finance and MBA programs. He was the Chair of the department between 2010-2012.</p> <p>Dr. Zaman research has been in the areas of asset pricing and portfolio management, corporate finance, and pension and household finance. He has published in leading peer-reviewed finance and economics journals including <em>Financial Management</em>, <em>Journal of Banking &amp; Finance, Journal of Empirical Finance, Real Estate Economics,</em> and <em>Canadian Public Policy</em>. He serves as a referee for several leading academic journals. He also served as a guest associate editor for the <em>Decision Sciences Journal</em>. He is a grant reviewer for the Social Sciences and Humanities Research Council of Canada, and serves as a program committee member with numerous professional associations. He is a member of the American Economic Association, the American Finance Association, and the Financial Management Association.</p> <p>Dr. Zaman received both his PhD in financial economics<span> and his </span>MSc in economics<span> from </span>Krannert Graduate School of Management<span> at </span>Purdue University, US<span>, in 2004 and 2002 respectively. He earned his MA in economics (econometrics) in 2000, his BA in economics in 1998, and his BSc in biochemistry (1997) all from Ohio University, US. &nbsp;</span></p>