Associate Professor in Finance
Director of the MPhil in Finance Programme
Co-Director of the Centre for Endowment Asset Management (CEAM)
BS (Middle East Technical University), MSE (Princeton University), PhD (London Business School)
My research interests include corporate governance, ownership and control, corporate social responsibility, private equity, and dynamic investment strategies. I have served as a part-time consultant to a hedge fund on establishing trading strategies. I was previously an Assistant Professor of Finance at the Carroll School of Management at Boston College.
I’m a member of the Finance subject group at Cambridge Judge Business School, which focuses on the investment and financial decisions of firms and institutions.
Corporate engagement and voting are critical elements for effective and good environmental, social and governance (ESG) policies in firms.
News and insights
CERF Fellow Oğuzhan Karakaş, and research collaborators Pedro Saffi (a former CERF fellow) and Mehrshad Motahari (a former CERF Research Associate), analyse whether the short sellers can anticipate negative ESG incidences of firms, and make money from the negative price reactions to the news announcement of such incidences.
Cambridge Independent | 30 June 2021
A recent summary of Cambridge Judge Business School research include studies on AI at workplace by Dr Stella Pachidi, privatisation and efficiency by Dr Kamal Munir, the concept of craft by Dr Jochem Kroezen, predicting energy use by Dr David Reiner, and staggered boards by Dr Oğuzhan Karakaş.
A paper on short-selling of exchange-traded funds co-authored by Dr Oğuzhan Karakaş, University Senior Lecturer in Finance at Cambridge Judge Business School, featured in Bloomberg. The study titled “Phantom of the Opera: ETF Shorting and Shareholder Voting,” argues that “this dynamic means “that phantom shares, stemming from short-selling of ETF shares (for ETF market making, directional, or hedging purposes), lead to sidelined votes during the proxy voting process.”
A study by Dr Oğuzhan Karakaş and Professor Elroy Dimson on coordinated engagements is featured in the article. The study found that “engagement is much more likely to be successful if investors – and large investors in particular – coordinate their efforts.” When a company responds to engagement they get better returns – “on average by 8.6 per cent for corporate governance issues and 10.3 per cent for climate change matters.”
Forbes, 8 September 2020
Inside the big threat to sustainable investing
Financial Times, 1 April 2020
Are ESG and sustainability the new alpha mantra?
Funds Europe, 17 September 2019
Inside view: Do investors have to sacrifice returns to invest responsibly?