Congratulations to the M.Sc. Finance students who received University Graduate Scholarships for 2012/2013. We had an impressive success rate this year, with six of the eight students put forward named as recipients by the U of S College of Graduate Studies and Research. The students were adjudicated on their research proposals, GPAs and letters of reference.

With the three students who received University Graduate Scholarships in 2011/2012, the M.Sc. Finance program now includes nine scholarship winners! Thank you to everyone who participated in this process and congratulations once again to the recipients:

2011/2012 Recipients

Iuliia Ilina: Risk Management and Macro Hedging in Banks

Yanxue (Emma) Liu: Executive Compensation Following Mergers and Acquisitions: the impact of ownership structure

Lei Zhao (not pictured): Idiosyncratic Risk, Information Flow and Earnings Informativeness for Family Businesses

2012/2013 Recipients

Yirong Guo : Firm Characteristics and the signaling effect of dividend changes: a new approach

Peirong Li: Applying lean thinking within Saskatchewan healthcare

Myles Shedden: Information content of financial institution loan loss reserves

Mike Wynes: The value of an apology

Shuangshuang Kong (not pictured): Financial derivatives

Liwen Zhang (not pictured): Hedge Ratio of Stock Index Futures from Utility Maximum perspective——Evidence from CSI300 Index Stock Index Futures