FIN 2200 A02 (3 CH) CORPORATION FINANCE

SUMMER 2020 TR 6.00 -9.45 PM

CONTENTS CONTENTS ............................................................. 1

INSTRUCTOR ......................................................... 1

COURSE DESCRIPTION........................................... 1

COURSE OBJECTIVES ............................................. 2

COURSE FORMAT .................................................. 2

COURSE MATERIALS .............................................. 3

ASSESSMENT OF LEARNING .................................. 5

MISSED EXAM AND LATE SUBMISSION POLICY .... 6

ATTENDANCE POLICY ............................................ 6

ELECTRONIC DEVICE POLICY ................................. 6

OUT-OF-CLASS COMMUNICATION ....................... 6

CLASS SCHEDULE (Tentative) ................................ 7

IMPORTANT DATES ............................................... 9

INTENDED LEARNING OUTCOMES ...................... 10

ACADEMIC INTEGRITY POLICY ............................ 11

Typical Penalties for Academic Dishonesty in the Asper School ....................................................... 12

STUDENT SERVICES AND SUPPORTS ................... 13

ABOUT THE INSTRUCTOR .................................... 14

INSTRUCTOR Name: Teresa Longobardi, PhD Office: N/A Phone: 204-250-2879 (text me) Email: Teresa.Longobardi@umanitoba.ca Office hours: TR 4:00 pm – 5:30 pm, or by appointment COURSE DESCRIPTION This course is an introduction to corporate finance regarding the allocation and acquisition of funds. Topics include: discounted cash flows, capital budgeting, financial instruments, cost of capital, risk-return trade-offs, market efficiency, capital structure, and the use of derivatives. Prerequisite: [ACC 1100 (or 009.110) (D)] and [MATH 1500 or MATH 1520 (C)] and [STAT 1000 or STAT 1001 (C)] and [ECON 1010 (C) and ECON 1020 (C) or the former ECON 1200 (or 018.120) (C)].

FIN 2200 is a required course in the B.Com. curriculum because everyone involved with business should have knowledge of basic finance concepts and techniques in order to understand how financial decisions are made.

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Whether you work for a corporation, are a financial manager of a firm, or a prospective investor, the ability to make optimal finance decisions is an obvious advantage. This course teaches asset valuation and the application of valuation techniques to choose among alternative investment opportunities. Knowledge of algebra is assumed and required for FIN 2200. Non-Commerce students who do not have this background are encouraged to consult with the professor as soon as possible.

COURSE OBJECTIVES Upon completion of this course you should be able to:

Identify the correct corporate finance concepts and techniques to make good corporate finance decisions.

Describe financial markets & securities and their significance to economic well-being.

Apply time value of money concepts.

Analyze capital budgeting problems.

Synthesize debt and equity valuation with market efficiency.

Apply risk and return relationships.

Evaluate capital structure.

Describe options, futures, and forwards.

COURSE FORMAT This course will be conducted “live” via YouTube and will not involve in-person instruction. Classes will be during the scheduled class time. Labs will be conducted with the TA on Wednesday evenings via a platform to be announced. For recording attendance and class participation, you will be expected to have a YouTube account created so that you can register a greeting at the beginning and a salutation at the end of the lecture by comment in the chat room. For recording attendance and class participation during labs, you will be expected to have your camera and microphone on during the class and similarly during the final exam. The Teaching Assistant in the lab may tell you to leave your camera/mic on for the duration of the class or may require you to mute yourself and unmute yourself only at certain times. The course will be delivered by means of lectures that provide theory and applications of finance principles presenting examples on each topic. Background readings will be assigned. Learning will be evaluated through problem solving. This will involve individual work. Labs will be conducted with the TA via a platform to be announced. Lecture notes will be shared with students in advance of classes. Lectures will be conducted by distance on YouTube. The lecture notes will be emailed to students along with Review exercises and Solutions. The Review exercises will be discussed by the TA on Wednesday evenings. MyLab Finance Assignments will have a series of questions from each chapter. These will be available at the launch of the course but will have due dates on Monday evenings at 11:59 pm. These assignments are meant to be learning experiences, and student efforts to solve the problems will be rewarded for a total of 10% towards their

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final grade. All that is required is that at a minimum 10 exercises in each of the Assignments are solved correctly. Students experiencing difficulties with the Review exercises or the MyLab Finance Assignments will have the opportunity to ask questions during the lab on Wednesdays. Students will be encouraged to ask me questions during the class or afterwards. There will be 3 tests plus the Final Exam. Each test will be posted on Saturday at 9am and due at 3pm and will cover the material of the previous weeks. The test should take 1 ½ hours to complete. The Final Exam will be cumulative – the date and time is to be announced (TBA).

Students are encouraged to prepare a 8.5 11 inch sheet of paper (front and back) on which they can write course formulas only. You should begin preparing your “formula” sheet immediately. Formula sheets should be hand written. They can then be rewritten when new formulas need to be added. COURSE MATERIALS The below required course materials are available in the Bookstore:

Financial calculator: • Texas Instrument: TI-BAII Plus (primary calculator used for instruction) OR • Hewlett Packard: HP-10BII (students will have to teach themselves how to use this calculator or more

advanced versions)

Corporate Finance, 4th Canadian Edition, 2019, J. Berk, P. DeMarzo, and D. Stangeland, Pearson Canada, ISBN: 9780134632285. Pearson MyLab Finance Access Code (bundled with the textbook recommended)

Included with purchase of a new textbook OR

Purchased from MyLab Finance webpage (see instructions below) Please respect copyright laws. Photocopying textbooks or other reading material is a violation of copyright laws and is unethical, unless permission to copy has been obtained.

An access code will be required to register for the portion of the course which uses the textbook's companion website, MyLab Finance. An access code is included with the purchase of a new textbook (hardcopy or Pearson eText). If a student has a used textbook, they will need to purchase a MyLab Finance code separately on the internet. 1. Go to www.pearson.com/mylab 2. Click on Student in the 'Register Now' section of the website. 3. Click on OK! Register now. 4. Enter the Course ID: vergata40114 in the space provided and click Continue. 5. Follow the steps and either Sign in, if you already have an account, or Create a Pearson Account if you

have never done this before. If you did not previously purchase the text with the code, you will eventually be prompted to buy the code.

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A computer or smartphone with a camera/mic during class is necessary. Class lectures will be livestreamed and later accessible on YouTube at: http://tinyurl.com/FinaLongobardiLivePlaylist - the video will be named with the date of the livestream. As classes and labs will be delivered synchronously via videoconferencing, a device enabled with a camera and microphone is required. Further, you are expected to be in a location with a reliable Internet connection that is strong enough for streaming video. You may also want to consider using earphones/headset with a mic, unless you have a computer/tablet with good speakers/mic. You require the following items for your computer for this course:

Internet connection: Cable/DSL, T1, or other high-speed for multimedia content; 56k modem (minimum) for tutorials, homework, and testing.

Memory: 64 MB RAM minimum

Monitor resolution: 1024x768

Headset with microphone (for Cisco WebEx Lab Web Conferences – Real-time Lab Sessions) For the three tests tests during the course (not including the final exam), you will need to complete your responses on separate pages, scan the pages and return them to me through UMLearn: • a printer • webcam • digital scanner • the ability and knowledge to scan a multi-page document, save it to their computer, and upload it to

the course website. For the final exam, which will be administered via the Respondus Lockdown browser, you will need a device (computer or tablet; smartphone will not work) with one of the following operating systems:

Windows 10, 8, or 7

Mac OS 10.15 to 10.12, OS X 10.11, or OSX 10.10

iOS: 11.0+ (iPad only) The academic integrity expectations for all tests are no different from those for an in-class test. You are held to the same standards as for any other test. The tests will be open-book. You may access your textbook or notes to answer the questions. You are not allowed to share your answers with nor seek answers from anyone during the tests. Doing so constitutes academic dishonesty and will be reported to the Dean’s office. Students are encouraged to study together virtually, in chat rooms or they may choose to meet in small study groups. However, students should work to build confidence in their own understanding of the topics to enhance their independent performance on tests; group collaboration will be prohibited on the tests. Take home tests can be subject to serious academic integrity issues. As a result, although a window of opportunity will be permitted to complete tests, and students may use all of their course resource, they are not permitted to discuss take photos of exercises or share their final answers with other students. In the Asper School of Business, all suspected cases of academic dishonesty in undergraduate courses are

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reported to the Dean's office and follow the approved disciplinary process. See the table below for typical penalties for academic dishonesty in the Asper School. To discourage collaboration during the tests, and as a penalty for doing so, my policy is that students committing common errors, that appear to be plagiarized, will receive double the point reduction as a consequence and they risk additional disciplinary action. Further, the Final Exam will be online, so that different students will get different multiple choice questions, cannot go back to a question once a student proceeds to the next question, and time will be limited to complete the exam as a way of minimizing the chance of fraud. So although students may study virtually in chat rooms or may meet in small study groups, students should work to build confidence in their understanding of the topics because the final exam will be completed individually and in a limited period of time. ASSESSMENT OF LEARNING

The course will be evaluated as follows:

Labs Attendance, Participation and Conduct 5% Assignments Practice problems in MyLab Finance (due each Monday at midnight) 10% Test I Saturday, July 25 (1 ½ hour home test 9am-3pm) 10% Test II Saturday, August 1 (1 ½ hour home test 9am-3pm) 20% Test III Saturday, August 8 (1 ½ hour home test 9am-3pm) 20% Final Exam TBA online in UMLearn – cumulative 35%

All test grading keys will be provided to the students, except for the final exam key. If students want to see the grading of their final exam, they will have to consult with me to make arrangements to see it. Of all the students who get 50% or over in the course:

the top 5% of the class will get an A+

next 10% will get an A

next 20% will get a B+

next 20% will get a B

next 20% will get a C+

next 20% will get a C

next 5% will get a D Getting less than 50% in the course will result in an F grade.

NOTE: Getting less than 50% in the course will result in an F grade. Students must score at least 50% on the Final Exam to get a passing grade in the course.

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MISSED EXAM AND LATE SUBMISSION POLICY There will be no make-up tests. Students will receive a grade of 0 if they miss submitting a test on time unless a valid reason is provided (eg., medical documentation). Students who miss a component and have a valid excuse will have the weight of that component added to their Final Exam. Students with valid medical reasons must provide physician documentation of their claim. Note: Grade appeals for tests will only be possible within 2 days of distributing the graded material. If a student does not submit a Final Exam, please note that students have to apply for a deferred exam through the Undergraduate Program Office in 268 Drake (or their home Faculty if they are not Asper students). Instructors are not to arrange makeup Final Exams on their own. ATTENDANCE POLICY Since many of the textbook chapters build on concepts and techniques from previous chapters, missing a class may have a significant impact on your ability to learn the assigned material in the textbook so regular attendance is highly advised. Although you can watch the videos produced from the lectures at a different time, it is not a good idea to allow videos to accumulate; it may be difficult to catch up given the condensed format of this summer course. Your attendance during labs will be recorded. The Asper School has a Debarment Policy, whereby an instructor can penalize a student for non-attendance. Attendance will be recorded from the beginning of the course until the end.

ELECTRONIC DEVICE POLICY A computer or smartphone with a camera/mic during class is necessary. You may use a laptop or tablet when following along with the lecture notes. Alternatively, and what I would recommend, is that you print out the lecture notes so that you can mark up the pages with your own notes and comments. Some students can also accomplish this on an electronic device. Simply be self-aware, and avoid getting distracted by browsing the Internet or checking your texts, e-mail/social media messages during the class. Leave your phone off or in “do not disturb” mode. Our lectures will be 3 hours and 45 minutes, so I will take 5 to 10 minute breaks every hour or so. Since the course will be lectured on YouTube, you will be able to easily access the recordings at any future point in time. I will do my best to timestamp the videos. If students want to timestamp the key topics in the video, you are welcome to help by including the timestamps in the comments under the video once it is posted.

OUT-OF-CLASS COMMUNICATION I will share course materials by email, but I will also post copy of them in UMLearn. If I have to revise the materials I will keep the most up to date version in UMLearn.

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CLASS SCHEDULE (Tentative)

_________________________________________________________________________________________________________ W E E K 1 July 14, 16 Lectures: Financial Calculator Ch 1: The Corporation Ch 2: Introduction to Financial Statement Analysis (Self-Study) Ch 3: Arbitrage & Financial Decision Making Ch 3A.2 (online): Using Primitive Securities to Solve for Price Ch 4: The Time Value of Money Ch 4A: Using a Financial Calculator Ch 5: Interest Rates (Omit Appendix) Ch 6: Valuing Bonds Ch 6A: Forward Interest Rates Ch 7: Valuing Stocks

July 15 Wednesday Lab: Lab 1: WEEK 1 – Review Problems MyLab Finance: Assignment Chapters 3,4,5 & 6 (Due: July 20, 2020)

_________________________________________________________________________________________________________

W E E K 2 July 21, 23 Lectures: REVIEW WEEK 1 Ch 8: Investment Decision Rules Ch 9: Fundamentals of Capital Budgeting (Omit 9.5) Ch 24: Debt Financing (Self-Study)

July 22 Wednesday Lab: Lab 2: WEEK 2 – Review Problems MyLab Finance: Assignment Chapters 1,2,8,9 & 24 (Due: July 27, 2020)

_________________________________________________________________________________________________________ July 25 Test I Saturday, July 25 – 9:00 am to 3:00 pm (Topics: WEEK 1)

_________________________________________________________________________________________________________ W E E K 3 July 28, 30 Lectures: REVIEW WEEK 2 Statistics Review Ch 10: Capital Markets and the Pricing of Risk Ch 11: Optimal Portfolio Choice & CAPM (Omit: 11.6) Ch 12: Estimating Cost of Capital (Omit: 12.5, 12.6, only WACC from 12.7) July 29 Wednesday Lab: Lab 3: WEEK 3 – Review Problems MyLab Finance: Assignment Chapters 10,11 & 12 (Due: August 3, 2020)

_________________________________________________________________________________________________________ August 1 Test II Saturday, August 1 – 9:00 am to 3:00 pm (Topics: WEEK 2)

_________________________________________________________________________________________________________

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_________________________________________________________________________________________________________ W E E K 4 August 4, 6 Lectures: REVIEW WEEK 3 Ch 14: Financial Options (Omit: “Returns for holding an option to expiration” from 14.2 & 14.5) Ch 17: Capital Structure in a Perfect Market Ch 18: Debt & Taxes Ch 19: Financial Distress, Managerial Incentives

August 5 Wednesday Lab: Lab 4: WEEK 4 – Review Problems MyLab Finance: Assignment Chapters 14,17,18 & 19 (Due: August 10, 2020)

_________________________________________________________________________________________________________ August 8 Test III Saturday, August 8 – 9:00 am to 3:00 pm (Topics: WEEK 3)

_________________________________________________________________________________________________________ W E E K 5 August 11, 13 Lectures: REVIEW WEEK 4 Ch 30: Risk Management (Omit: 30.3-30.4)

August 12 Wednesday Lab: Lab 5: WEEKs 1- 5 – Review Problems MyLab Finance: Assignment Chapter 30 (Due: August 10, 2020)

_________________________________________________________________________________________________________ EXAM PERIOD FINAL TBA – CUMULATIVE

_________________________________________________________________________________________________________

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IMPORTANT DATES

Lecture dates: July 13, 2020 – August 14, 2020 VW Date: August 7, 2020 Session ends: August 21, 2020 – Final Exam TBA

Sunday Monday Tuesday Wednesday Thursday Friday Saturday

July 12 13 14

CLASS 15

LAB 16

CLASS 17 18

19 20

MyLab Due: 11:59pm

21 CLASS

22 LAB

23 CLASS

24 25

Test I Due: 3pm

26 27

MyLab Due: 11:59pm

28 CLASS

29 LAB

30 CLASS

31 August 1 Test II

Due: 3pm

2 3

MyLab Due: 11:59pm

4 CLASS

5 LAB

6 CLASS

7 8

Test III Due: 3pm

9 10

MyLab Due: 11:59pm

11 CLASS

12 LAB

13 LAST CLASS

14 MyLab

15

16 17 18 19 20 21

SEMESTER ENDS

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INTENDED LEARNING OUTCOMES

AACSB Assurance of Learning Goals and Objectives The Asper School of Business is proudly accredited by AACSB. Accreditation requires a process of continuous improvement of the School and our students. Part of “student improvement” is ensuring that students graduate with the knowledge and skills they need to succeed in their careers. To do so, the Asper School has set the learning goals and objectives listed below for the Undergraduate Program. The checked goal(s) and objective(s) will be addressed in this course and done so by means of the items listed next to the checkmark.

Goals and Objectives in the Undergraduate Program

Goals and Objectives

Addressed in this Course

Course Item(s) Relevant to these

Goals and Objectives

1 Quantitative Reasoning

A. Determine which quantitative analysis technique is

appropriate for solving a specific problem.

Entire course

B. Use the appropriate quantitative method in a technically correct way to solve a business problem.

Entire course

C. Analyze quantitative output and arrive at a

conclusion.

Entire course

2 Written Communication

A. Use correct English grammar and mechanics in their written work.

During lectures,

Labs, Tests

B. Communicate in a coherent and logical manner

During lectures, Labs, Tests

C. Present ideas in a clear and organized fashion.

During lectures, Labs, Tests

3 Ethical Thinking

A. Identify ethical issues in a problem or case situation

Chapter 1

B. Identify the stakeholders in the situation. Chapter 1

C. Analyze the consequences of alternatives from an ethical standpoint.

Chapter 1

D. Discuss the ethical implications of the decision. Chapter 1

4 Core Business Knowledge Entire course

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ACADEMIC INTEGRITY POLICY It is critical to the reputation of the Asper School of Business and of our degrees that everyone associated with our faculty behave with the highest academic integrity. As the faculty that helps create business and government leaders, we have a special obligation to ensure that our ethical standards are beyond reproach. Any dishonesty in our academic transactions violates this trust. The University of Manitoba General Calendar addresses the issue of academic dishonesty under the heading “Plagiarism and Cheating.” Specifically, acts of academic dishonesty include, but are not limited to:

using the exact words of a published or unpublished author without quotation marks and without

referencing the source of these words (includes Chat messages posted during videoconference sessions)

duplicating a table, graph or diagram, in whole or in part, without referencing the source paraphrasing the conceptual framework, research design, interpretation, or any other ideas of another

person, whether written or verbal (e.g., personal communications, ideas from a verbal presentation) without referencing the source

recording test questions using any method, regardless of whether those are shared with others sharing test questions with those who are yet to take the test, including future students copying the answers of another student in any test, examination, or take-home assignment providing answers to another student in any test, examination, or take-home assignment taking any unauthorized materials into an examination or term test (crib notes) impersonating another student or allowing another person to impersonate oneself for the purpose of

of attendance, earning class participation marks, submitting academic work or writing any test or examination

stealing or mutilating library materials accessing test prior to the time and date of the sitting changing name or answer(s) on a test after that test has been graded and returned submitting the same paper or portions thereof for more than one assignment, without discussions with

the instructors involved Group Projects and Group Work

Students are encouraged to study together virtually, in chat rooms or they may choose to meet in small study groups. However, students should also work to build confidence in their own understanding of the topics to enhance their independent performance on tests; group collaboration will be prohibited, and penalized on tests. Take home tests can be subject to serious academic integrity issues. As a result, although a window of opportunity will be permitted to complete tests, and students may use all of their course resource, they are not permitted to discuss take photos of exercises or share their final answers with other students. To discourage collaboration among students, and as a penalty for doing so, my policy is that students committing common errors, that appear to be plagiarized, will receive double the point reduction as a consequence and they risk additional disciplinary action. Further, the Final Exam will be online, so that different students will get different multiple choice questions, cannot go back to a question once a student proceeds to the next question, and time will be limited to complete the test as a way of minimizing the chance of fraud. So although students may study virtually in chat rooms or may meet in small study groups, students should work to build confidence in their understanding of the topics because the final exam will be completed individually and will be monitored.

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Typical Penalties for Academic Dishonesty in the Asper School

In the Asper School of Business, all suspected cases of academic dishonesty in undergraduate courses are reported to the Dean's office and follow the approved disciplinary process. See the table below for typical penalties for academic dishonesty in the Asper School. If the student is from another Faculty and the academic dishonesty is committed in an Asper course, the student’s Faculty could match or add penalties beyond the Asper School’s. F-DISC on transcript indicates the F is for disciplinary reasons.

ACADEMIC DISHONESTY PENALTY

Cheating on exam (copying from or providing answers to another student)

F-DISC in course Suspension from taking Asper courses for 1 year Notation of academic dishonesty in transcript

Sharing exam questions electronically during exam

F-DISC in course Suspension from taking Asper courses for 2 years Notation of academic dishonesty in transcript

Possession of unauthorized material during exam (e.g., cheat notes)

F-DISC in course Suspension from taking Asper courses for 1 year Notation of academic dishonesty in transcript

Altering answer on returned exam and asking for re-grading

F-DISC in course Suspension from taking Asper courses for 1 year Notation of academic dishonesty in transcript

Plagiarism on assignment F-DISC in course Suspension from taking Asper courses for 1 year Notation of academic dishonesty in transcript

Submitting paper bought online F-DISC in course Suspension from taking Asper courses for 1 year Notation of academic dishonesty in transcript

Inappropriate Collaboration (collaborating with individuals not explicitly authorized by instructor)

F-DISC in course Suspension from taking Asper courses for 1 year Notation of academic dishonesty in transcript

Group member had knowledge of inappropriate collaboration or plagiarism and played along

F-DISC in course Notation of academic dishonesty in transcript

Signing Attendance Sheet for classmate

F-DISC in course Notation of academic dishonesty in transcript

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STUDENT SERVICES AND SUPPORTS The University of Manitoba provides many different services that can enhance learning and provide support for a variety of academic and personal concerns. You are encouraged to visit the below websites to learn more about these services and supports. If you have any questions or concerns, please do not hesitate to contact your instructor or the Undergraduate Program Office.

For Information on… …follow this link

Tech-related issues with UM Learn or videoconferencing Information Services & Technology

Admission, Registration, Tuition Fees, Important Dates, Final Exams, Graduation, and Transcripts

Registrar’s Office

Academic policies & procedures, regulations, Faculty-specific information, degree and major requirements

Academic Calendar

Help with research needs such as books, journals, sources of data, how to cite, and writing

Library Resources

Tutors, workshops, and resources to help you improve your learning, writing, time management, and test-taking skills

Writing and Learning Support

Support and advocacy for students with disabilities to help them in their academic work and progress

Student Accessibility Services

Copyright-related questions and resources to help you avoid plagiarism or intellectual property violations

Copyright Office

Student discipline bylaws, policies and procedures on academic integrity and misconduct, appeal procedures

Academic Integrity

Policies & procedures with respect to student discipline or misconduct, including academic integrity violations

Student Discipline

Students’ rights & responsibilities, policies & procedures, and support services for academic or discipline concerns

Student Advocacy

Your rights and responsibilities as a student, in both academic and non-academic contexts

Your rights and responsibilities

Full range of medical services for any physical or mental health issues

University Health Service

Information on health topics, including physical/mental health, alcohol/substance use harms, and sexual assault

Health and Wellness

Any aspect of mental health, including anxiety, stress, depression, help with relationships or other life concerns, crisis services, and counselling.

Student Counselling Centre

Support services available for help regarding any aspect of student and campus life, especially safety issues

Student Support Case Management

Resources available on campus, for environmental, mental, physical, socio-cultural, and spiritual well-being

Live Well @ UofM

Help with any concerns of harassment, discrimination, or sexual assault

Respectful Work and Learning Environment

Concerns involving violence or threats, protocols for reporting, and how the university addresses them

Violent or Threatening Behaviour

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ABOUT THE INSTRUCTOR Interdisciplinary education and research characterize the versatility of Dr. Longobardi’s academic career. In 1993, she obtained her Bachelor of Science Honours degree in Statistics at the University of Manitoba. Her graduate studies were completed outside of the province. In 1995 she earned a Bachelor of Economics Honours degree at McGill University, and in 2003 she was awarded a Doctorate of Philosophy in Economics from York University, Toronto specializing in public economics and organizational behavior with a doctoral thesis in Health Services Research and Health Economics. Dr. Longobardi returned to Manitoba to pursue research interests with the Faculty of Medicine, but also simultaneously taught Corporate Finance at the University of Manitoba and University of Winnipeg over 10 years between 2000 and 2009. Since 2010, she has become a tenured Associate Professor of Finance at the School of Business Administration in the University of Puerto Rico in San Juan, USA. She teaches in both the Undergraduate and Graduate School of Business. She has supervised several doctoral theses. In August, 2019 she was appointed Director of the Finance Department. Her research as a body of work, explores the economic impact of health and culture on society. Her most recent collaborative publications is: Nieves-Rodriguez, E., Perez-Rivera, M. M., Longobardi, T., & Davis-Pellot, J. A. (2017). Culture and gender’s role in apparel purchasing patterns. Journal of Fashion Marketing and Management: An International Journal.

Dr. Longobardi is an Italian-Canadian with permanent residency in the United States under the classification of Outstanding Professor Researcher. Visit the ORCID page to see publications, grants and achievements: https://orcid.org/0000-0003-4292-7798 Personal Statement I moved to Puerto Rico for the tropical weather, the salsa dance community and the laid-back lifestyle that island living is known to offer. It turns out that I work just as hard as I did before I moved to the island. I learned, the hard way, that every place on earth has its tradeoffs. Since I have been in Puerto Rico I have experienced the worst earthquakes, hurricanes and Sahara dust plume of the past century, yet I have admired how Puerto Ricans still know how to enjoy life and have fun. I have since come to approach life’s challenges with curiosity, and a wait and see attitude. I travel to Winnipeg each holiday in the summer and winter to spend time with my family and friends. I speak English, but can communicate in Italian, French and Spanish.