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Professor Aydin Ozkan

PositionProfessor of Finance
Head of the Accounting, Finance and Economics group
Member of the CARAFE research centre
LocationUniversity of Bradford School of Management
Emm Lane
West Yorkshire
DepartmentSchool of Management
Telephone+44 (0)1274 234349

PhD Supervision

Aydin has supervised 14 PhD students to completion and is currently supervising three PhD students who work on corporate dividend policy, corporate tax planning, and stock liquidity. Aydin is interested in supervising students who wish to study in the area of quantitative empirical corporate finance, corporate governance, investment, and aspects of accounting related to financial decisions within corporations. Potential students are expected to have a good understanding of corporate finance theory and strong skills in quantitative empirical analysis.

Teaching and Supervisory Responsibilities

Aydin has taught many courses at various levels including:

  • Corporate Finance
  • Financial Statement Analysis
  • Security Investment Analysis
  • Quantitative Analysis
  • Accounting and Finance for Managers
  • Strategic Financial Management
  • Foundations of Finance
  • Financial Theory and Corporate Policy
  • Capital Markets
  • Risk Management


Aydin Ozkan is Professor of Finance, joined the School of Management in July 2014. He was formerly Professor of Financial Management in the Hull University Business School. He has also held previous positions at Brunel, Durham and York. His first degree was in Economics. Having completed an MSc in Project Analysis, Finance and Investment, he gained his PhD on corporate bankruptcies and capital structure decisions of firms in 1996. Prior to his PhD he also worked as a financial analyst at Etibank, in Turkey.

He is currently Head of Accounting, Finance and Economics Group. He is also Visiting Professor in the Macroeconomic and Finance Research Group at EGADE Business School, Tecnológico de Monterrey, in Mexico.

Research Areas

Aydin’s interests lie in the field of empirical corporate finance covering a wide range of topics in finance and financial economics, including corporate investment, capital structure and dividend policy, and cash holdings policies; corporate governance and ownership structure, managerial compensation, agency conflicts within corporations; economics of insolvency procedures and corporate bankruptcies; insider trading; earnings management and accounting conservatism.


Selected refereed journal articles

Board characteristics, audit quality and earnings management: Evidence from Egypt (with Khalil M), Journal of Emerging Markets Finance, forthcoming.

Directors’ share dealings and corporate insolvencies: Evidence from the UK (with Poletti-Hughes J and Trzeciakiewicz A), European Journal of Finance, forthcoming.

Informative content of insider purchases: Evidence from the financial crisis, (with Trzeciakiewicz A.), Review of Behavioral Finance (2014), 6, 26-45.

Ultimate controllers, ownership and the probability of insolvency in financially distressed firms (Poletti-Hughes J), Managerial and Decision Economics (2014), 35, 36-50.

Financial flexibility, corporate investment and performance: Evidence from financial crises (Arslan-Ayaydin O, and Florackis C), Review of Quantitative Finance and Accounting (2014), 42, 211-250.

Managerial incentives and corporate leverage: Evidence from the United Kingdom (with Florackis C),Accounting and Finance (2009), 49, pp 531-543.

Managerial ownership and performance (with Florackis C. and Kostakis A.), Journal of Business Research(2009), 62, pp 1350-57.

The impact of managerial entrenchment on agency costs: An Empirical investigation using UK panel data (with Florackis C.), European Financial Management (2009), 15, 497-528.

Institutional investors and director pay: An empirical study of UK companies (with Dong M.), Journal of Multinational Financial Management (2008), 18, 16-29.

The role of cash holdings in reducing investment cash flow sensitivity: Evidence from a financial crisis period in an emerging market (with Arslan O. and Florackis C.), Emerging Markets Review (2006), 7, 320-338.

Ownership structure and dividend policy: Evidence from Italian firms (with Mancinelli L.), European Journal of Finance (2006), 12, 265-282.

Corporate bankruptcies and official bail-outs: A cost benefit analysis (with Kenc T and Ozkan G.), Journal of International Financial Markets, Institutions and Money (2005), 15, 437-453.

Corporate cash holdings: An empirical investigation of UK companies (with Ozkan N.), Journal of Banking and Finance (2004), 2103-2134.

Determinants of capital structure and adjustment to long run target: Evidence from UK company panel data,Journal of Business Finance and Accounting (2001), 28, 175-198.

An empirical analysis of corporate debt maturity structure, European Financial Management (2000), 6, 197 212.

Corporate bankruptcies, liquidation costs and the role of banks, The Manchester School (1996), 64, 104 119.

Book chapters

(2014) Debt Financing (with Trzeciakiewicz A), Wiley Encyclopedia of Management, 3rd edition.

(2006) Capital structure decisions of Turkish firms, in The Turkish Economy: The Real Economy, Corporate Governance and Reform, (with Guney Y. and Yalciner, K.) RoutledgeCurzon, eds. Altug, S. and Filiztekin, A.

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