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Opera paper curtain call

A paper co-authored by Dr Oğuzhan Karakaş of Cambridge Judge Business School wins the best conference paper award at the annual meeting of the European Financial Management Association.

Curtain call at opera
Oğuzhan Karakaş
Dr Oğuzhan Karakaş

A paper co-authored by Dr Oğuzhan Karakaş, University Senior Lecturer in Finance at Cambridge Judge Business School, won the Wharton Research Data Services Best Conference Paper Award at the annual meeting of the European Financial Management Association.

The award, announced at the University of Azores in Portugal and carrying a $3,000 cash prize, recognises the paper that has the “most potential to advance our understanding in the field of finance.”

The paper, “Phantom of the opera: ETFs and shareholder voting”, examines how the short-selling of exchange-traded funds (ETFs) creates “phantom” ETF shares with cash flow rights but no associated voting rights – and that an increase in phantom shares is associated with a decrease in the number of proxy votes cast and other effects on firm governance and value.

Oğuzhan also was recently named co-winner of the 4Nations Cup, a contest for financial economics held earlier this month at the HEC Paris Le Château, for a seminar based on the same paper.