University of Southern California

Oguzhan Ozbas
Associate Professor of Finance and Business Economics

USC Marshall School of Business
Los Angeles, CA 90089-0804

PhD, MIT; MS, Carnegie Mellon University; BS, Bogazici University


Oguzhan Ozbas studies corporate finance, corporate investment, internal capital allocation, organizational economics, and corporate governance. His research has been published in the Journal of Finance, Journal of Financial Economics, and Review of Financial Studies, has been profiled in the New York Times, Wall Street Journal, and cited in policy briefs for the U.S. Congress. His most recent research examines the effects of the financial crisis on investment by corporations. Prior to his doctoral studies, Professor Ozbas was a treasury associate at Ford Motor Company. At Marshall, he teaches finance classes at the undergraduate, MBA, and PhD level.


Demiroglu, C., Ozbas, O., Silva, R. C., and Ulu, M. F. (2016) "The Economic Impact of Religion: Evidence from Ramadan Loans,".
Matsusaka, J. G., and Ozbas, O. (2016) "A Theory of Shareholder Approval and Proposal Rights," Journal of Law, Economics, and Organization (conditionally accepted).
Matsusaka, J. G., Ozbas, O., and Yi, I. (2016) "Opportunistic Proposals by Union Shareholders,".
Matsusaka, J. G., Ozbas, O., and Yi, I. (2016) "Why Do Managers Fight Shareholder Proposals? Evidence from No-Action Letter Decisions,".
Ozbas, O., and Rantakari, H. (2015) "Information Acquisition, Resource Allocation and Managerial Incentives,".
Ozbas, O., and Marino, A. M. (2014) "Disclosure of Status in an Agency Setting," Journal of Economic Behavior and Organization, 105, 191-207.
Ozbas, O., Officer, M. S., and Sensoy, B. A. (2010) "Club Deals in Leveraged Buyouts," Journal of Financial Economics, 98, 214-240.
Ozbas, O., Duchin, R., and Sensoy, B. A. (2010) "Costly External Finance, Corporate Investment, and the Subprime Mortgage Credit Crisis," Journal of Financial Economics, 97, 418-435.
Ozbas, O., and Menzly, L. (2010) "Market Segmentation and Cross-Predictability of Returns," Journal of Finance, 65, 1555-1580.
Ozbas, O., Duchin, R., and Matsusaka, J. G. (2010) "When Are Outside Directors Effective?," Journal of Financial Economics, 96, 195-214.
Ozbas, O., and Scharfstein, D. (2010) "Evidence on the Dark Side of Internal Capital Markets," Review of Financial Studies, 23, 581-599.
Ozbas, O. (2005) "Integration, Organizational Processes, and Allocation of Resources," Journal of Financial Economics.
Ozbas, O., and Menzly, L. "Cross-Industry Momentum,".
Ozbas, O., and Selvili, Z. "Organizational Scope and Allocation of Resources: Evidence on Rigid Capital Budgets,".
Ozbas, O. "Corporate Fraud and Real Investment,".