Duane Kennedy

Associate Professor, Financial Reporting; Approved Doctoral Dissertation Supervisor

Office: Hagey Hall 383G

Picture of Duane Kennedy

Phone: 519-888-4567 or x45752

Email: dkennedy@uwaterloo.ca

Brief biography

My current research interest focuses on earnings management and the impact of the US sub-prime crisis on Canadian financial institutions. I also have worked on a number of projects related to bankruptcy prediction and Initial Public Offerings (IPOs).

Education and certifications

  • BMath (University of Waterloo)
  • MBA (McMaster University)
  • MS (Cornell University)
  • PhD (Cornell University)
  • Chartered Professional Accountant, Certified Management Accountant (FCPA, FCMA)

Selected publications

  • Bandyopadhyay, Satiprasad, Ranjini Jha, and Duane Kennedy, “The Effect of the US Sub-prime Crisis on Canadian Banks.” Advances in Accounting, volume 36, March 2017.
  • Brown, Kareen, Changling Chen, and Duane Kennedy, "Target Ownership Plans and Earnings Management." Advances in Accounting, volume 36, March 2017.
  • Gupta, Parveen P., Duane B. Kennedy, and Samuel W. Weaver, “Corporate Governance Scores, Tobin’s Q and Firm Performance: Evidence from Canadian Capital Markets.” Corporate Ownership and Control, volume 6(3), Spring 2009.
  • Kennedy, Duane, J. Efrim Boritz, and Jerry Sun, "Predicting Business Failures in Canada." Accounting Perspectives, volume 6(2), Summer, 2007.
  • Kennedy, Duane, Ranjini Sivakumar, and Ken Vetzal, "The Implications of IPO Underpricing for the Firm and Insiders." Journal of Empirical Finance, January, 2006.
  • Kennedy, Duane, Craig T. Schulman, Deborah W. Thomas, and Keith F. Sellers, "Effects of Tax Integration and Capital Gains Tax on Corporate Leverage." National Tax Journal, volume 49(1), March, 1996.
  • Kennedy, Duane, and Wayne H. Shaw, "What's Behind a Reported Deviation From Historical Costs?" The Journal of Financial Statement Analysis, Summer, 1996.
  • Kennedy, Duane, J. Efrim Boritz, and Augusto de Miranda e Albuquerque, "Predicting Corporate Failure Using a Neural Network Approach." International Journal of Intelligent Systems in Accounting Finance and Management, volume 4(2), June, 1995, pg. 95-111.
  • Kennedy, Duane, and J. Efrim Boritz, "Effectiveness of Neural Network Types for Prediction of Business Failure." Expert Systems with Applications, volume 9(4), 1995, pg. 503-512.

Working papers

Courses taught


  • Robert Harding Teaching Fellow, 2014-2016
  • L.S. Rosen Outstanding Accounting Educator, Canadian Academic Accounting Association, 2008
  • Elected "Fellow" of the Society of Management Accountants of Canada, 2003
  • Distinguished Service Award, Canadian Academic Accounting Association, 2002

Professional Service

  • Chair, Canadian Accounting Hall of Fame Task Force, 2021-2023
  • Past President, Canadian Academic Accounting Association, 2019-2020
  • President, Canadian Academic Accounting Association, 2018-2019
  • President-Elect, Canadian Academic Accounting Association, 2017-2018
  • Canadian Academic Accounting Association, chair or member of various committees
  • Member, AAA Global Engagement Committee, 2018-2019


  • Lois Claxton Humanities and Social Sciences Award, "The Effect of the US Financial Crisis on the Canadian Economy", with Sati Bandyopadhyay and Ranjini Jha, 2011 - 2013, $5,500
  • Social Sciences and Humanities Research Council (SSHRC), "Technology Stocks: Valuation and Investor Behaviour", with Ranjini Sivakumar and Ken Vetzal, 2000 - 2003, $52,500