MERIHSEVILIR
KelleySchoolof BusinessEmail:
IndianaUniversityBloomingtonPhone:(812)855-26981275E10thStreet
Bloomington,IN 47405
RESEARCH INTERESTS
FinancingofInnovation,Venture Capital,Entrepreneurship, Mergersand Acquisitions,Initial PublicOfferingsandCorporateGovernance
WORKEXPERIENCE
July 2010-present(onmaternity leave2014-2015) / KelleySchoolof BusinessIndianaUniversity-BloomingtonAssociate Professor of Finance
July 2013-June2014 / Kenan-FlaglerBusiness SchoolUniversityofNorthCarolina-ChapelHillVisitingAssociateProfessorofFinance
Oct.2003-July2010 / Kenan-FlaglerBusiness SchoolUniversityofNorthCarolina-ChapelHillAssistantProfessorofFinance
July 2002-Oct.2003 / Kenan-FlaglerBusiness SchoolUniversityofNorthCarolina-ChapelHillInstructorof Finance
EDUCATION
1998-2003 / INSEAD,
Ph.D.inFinance / Fontainebleau,France
1996-1998 / INSEAD
MSinManagement / Fontainebleau,France
1995-1996 / Universityof Warwick
MSinEngineeringBusiness Management / Coventry, UK
1990-1995 / BogaziciUniversity
MS and BSinIndustrialEngineering / Istanbul,Turkey
PUBLICATIONS andPAPERSUNDER REVIEW
“SizeandFocus of aVentureCapitalist’s Portfolio”,(withPaoloFulghieri),ReviewofFinancialStudies, 22,4643-4680, 2009.
“Organizationand FinancingofInnovation,andthe Choice between CorporateandIndependentVentureCapital”,(withPaolo Fulghieri),Journalof Financial and QuantitativeAnalysis,44, 1291-1321, 2009.
“GoingPublicto Acquire:TheAcquisition MotiveinIPOs”,(with AnilShivdasaniandUgurCelikyurt),leadarticle,Journalof FinancialEconomics,96,345-363, 2010.
“HumanCapitalInvestment,NewFirmCreation andVenture Capital”,JournalofFinancialIntermediation,19,483-508, 2010.
“Howan IPOHelpsinM&A”, (withAnilShivdasani andUgurCelikyurt),JournalofAppliedCorporateFinance, 22,94-99,2010.
“Mergers,Spin-offs andEmployeeIncentives”,(withPaoloFulghieri),lead article,ReviewofFinancialStudies,24,2207-2241,2011.
FeaturedintheHarvardLawSchoolForumonCorporateGovernanceandFinancialRegulation,
April,2011
“BoardConnectionsand M&ATransactions”,(withYeCai),Journalof FinancialEconomics,103,327-349,2012.
“Venture Capitalists andInnovationinMaturePublic Firms”,ReviewofFinancialStudies,27,56-101, 2014.
WORKINGPAPERS
“Access toPublicCapitalMarketsand Employment”,(withAlex Borisovand AndrewEllul),workingpaper,2017, revise and resubmit at Journal of Financial Economics
“AcquiringInnovation”, (withXuanTian),workingpaper, 2016,revise andresubmitat ReviewofCorporateFinanceStudies
“Financing of Innovation, LearningAcross EntrepreneurialFirmsandInnovationWaves, workingpaper,2017
“ATheoryofMergerIntegration”,(withPaoloFulghieri), workingpaper,2017
“CEOFactories”,(with YeCaiandJun Yang),workingpaper, 2016
“Business Schools andNewFirmCreation”,(with YeCaiandNickolayGantchev), workingpaper,2016
TEACHINGCorporate GovernanceandRestructuring, MBA / 2015-present
CorporateFinancialStrategy,MBA / 2015-present
Executive MBA, Core / 2014
FinanceCore, MBA / 2011-2013
IntermediateCorporateFinance,undergraduate / 2010-2011
Mergers,Acquisitions andCorporate Restructuring, MBA / 2002-2010
AppliedCorporateFinance,MBA / 2002-2010
Mergers,Acquisitions andCorporate Restructuring, undergraduate / 2002-2004
AdvancedCorporate Finance, undergraduate / 2002-2004
PAPERPRESENTATIONS
“OrganizationandFinancingof Innovation, andthe ChoicebetweenCorporateandIndependent VentureCapital”
2000,Spring,5thConferenceofthe Societyforthe AdvancementofEconomicTheoryat Ischia*
2001, Fall,INSEAD
2001, Fall,HECParis*2002,Spring,HECLausanne
2002, Spring,London SchoolofEconomics2002, Spring,IESEBusinessSchool
2002, Spring, UNC-ChapelHill2002, Spring, Universityof Montreal
2002, Spring, Universityof Amsterdam
2002, Spring, StockholmSchool ofEconomics*2002, Spring, NorwegianSchool ofEconomics*
2002, Spring, CEMFI*
2002, Spring, ArizonaStateUniversity*
2002, Spring, Universita’dellaSvizzeraItaliana*
2002,Spring,ECGI-CEPR-ESFworkshoponCorporateGovernance andtheNewEconomy*2002, Spring, 2002 CEPREuropean SummerSymposiumin FinancialMarkets*
2003, Spring, American FinanceAssociation2003, Fall,TulaneUniversity*
2003, Fall,Duke University*
2003, Fall,Wisconsin-MadisonUniversity*
“Mergers, Spin-offsandEmployeeIncentives”2004, Spring, TilburgUniversity*
2004, Fall,EuropeanFinanceAssociation2005, Spring, WesternFinanceAssociation2005, Fall,ParisInternationalFinance Meeting
2006, Spring, Associationof Financial EconomistsMeetingatAmericanFinance Association2008, ESMT, Berlin*
2008, OxfordUniversity*
2009, Fall,UniversityofVirginia,McIntireSchoolofCommerce2010, Spring, American FinanceAssociation
2010, Spring, FloridaStateUniversity,SpringFinanceConference
“Size andFocus ofa VentureCapitalist’sPortfolio”2004,Spring,HelsinkiUniversity*
2004, Fall,UNC-ChapelHill2005,Spring,FinanceSummitII*
2005, Spring, Universityof Amsterdam
2005, Spring, “EarlyCareerWomen in Finance” Conference2005, Fall,RICAFE Conference
2005, Fall,FinancialResearch Association
2006, Spring, FinancialIntermediationResearchSociety(FIRS)*2006,Fall,AmericanUniversity*
2007,Spring,UniversityofVirginia,Darden*
“HumanCapitalInvestment,NewFirm CreationandVentureCapital”2006, Spring, UNC-ChapelHill
2006, Fall,EuropeanFinanceAssociation2006, Fall,RICAFE Conference
2007, Spring,FMAEuropean Meetings2008, Spring, WesternFinanceAssociation
“GoingPublic to Acquire:TheAcquisitionMotivein IPOs”2006, Spring, UNC-ChapelHill*
2007, Spring,JacksonHoleFinanceGroup*2007, Fall,ParisInternationalFinance Meeting2008, Spring, American FinanceAssociation2008, Fall,EssecPrivate EquityConference2008, Fall,RICAFE2Conference
“Mergers andIncentives toCreateSynergies”2008, Fall,RICAFE2Conference,Amsterdam*2008, Fall,IESEBusinessSchool,Barcelona*2008, Fall,Washington UniversityinSt. Louis*2009, Spring, OhioStateUniversity*
2009, Spring, CaseWestern ReserveUniversity*
2009, Fall,HECLausanne*2009, Fall,PennState*
“VentureCapitalists in MaturePublicFirms”2009, Spring, European SchoolofManagement2009, Spring, KocUniversity*
2009, Spring, SabanciUniversity*2009, Spring, BilkentUniversity*
2010, Spring, EntrepreneurialFinanceandInnovation Conference*2012, Spring, WesternFinanceAssociation
“BoardConnections andM&ATransactions”2009, Spring, KocUniversity
2009,Spring,UNC-ChapelHill*2009, Fall,UniversityofHouston
2010, Spring, SantaClaraUniversity*2010, Spring, Michigan StateUniversity
2010, Spring, WashingtonUniversityinSaintLouis2010, Spring,Indiana University
2010, Spring, FirstEuropeanCenter for CorporateControlStudies Workshop*2010, Spring, WesternFinanceAssociation
2010, Fall,Financial ManagementAssociation*
2011, Spring, ChinaInternationalConference inFinance*
“AcquiringInnovation”
2011, Spring,Indiana University,BrownBagSeminar2011, Spring, SFSFinanceCavalcade
2011, Spring, EntrepreneurialFinanceandInnovationConference*2012, Fall,American FinanceAssociation
“Doentrepreneurs makegoodVCs?”
2012,Kauffman/USPTOEntrepreneurialFinance andInnovationConference*2013, AmericanFinanceAssociation*
2016,JacksonHole,IPCWinterResearch Symposium,upcoming
“CEOFactories”
2015, AmericanFinanceAssociation*
2015, IndianaUniversity,Brown BagSeminar*2015, CICF Conference*
2015,ManchesterUniversityCorporateFinance Conference
CONFERENCEPARTICIPATION
AmericanFinance Association,2017,paperpresentationAmericanFinance Association,2015,paperpresentation*AmericanFinance Association,2014,paperpresentation*AmericanFinance Association,2013,paperpresentation*AmericanFinance Association,2012,paperpresentationAmericanFinance Association,2011,discussion
AmericanFinance Association,2010,paperpresentationAmericanFinance Association,2008,paperpresentationAmericanFinance Association,2006,paperpresentationAmericanFinance Association,2003,paperpresentation
WesternFinance Association,2017,discussion
WesternFinance Association,2015,discussion
WesternFinance Association, 2012,paper presentation*
WesternFinance Association, 2011,discussion
WesternFinance Association, 2010,paper presentationWesternFinance Association, 2009,discussionWesternFinance Association, 2008,paper presentationWesternFinance Association, 2005,paper presentation
European FinanceAssociation,2012,discussion
European FinanceAssociation,2011,twodiscussionsEuropean FinanceAssociation,2007,discussion
European FinanceAssociation,2006,paperpresentationEuropean FinanceAssociation,2006,discussion
European FinanceAssociation,2004,paperpresentation
SocietyofFinancialStudies,Finance Cavalcade, 2017,discussion
SocietyofFinancialStudies,Finance Cavalcade, 2014,discussion
SocietyofFinancialStudies,FinanceCavalcade,2012,discussion
SocietyofFinancialStudies, FinanceCavalcade,2011,paperpresentation
FinancialIntermediationResearch Society,2017,paper presentation
FinancialIntermediationResearch Society,2016,discussion
FinancialIntermediation Research Society,2015,twodiscussionsFinancialIntermediation Research Society,2006,paper presentation*
4thLabor and Finance Group Conference at ASU, 2017, paper presentation (scheduled)
WashingtonUniversity,OlinCorporateFinanceConference,2017,session chair, (scheduled)
WashingtonUniversity,OlinCorporateFinanceConference,2012,discussionWashingtonUniversity,OlinCorporateFinanceConference,2009,discussionWashingtonUniversity,OlinCorporateFinanceConference, 2007,discussion
Colorado Finance Summit, 2016, session chair
8thPrivate EquityFindingsSymposium, London Business School,2015,discussion
Kauffman/USPTOEntrepreneurialFinanceandInnovationConference, 2015, discussionKauffman/USPTOEntrepreneurialFinanceandInnovationConference, 2014, paperpresentationKauffman/USPTOEntrepreneurialFinanceandInnovationConference, 2012, paperpresentation*Kauffman/USPTOEntrepreneurialFinanceandInnovationConference,2011, paperpresentation*Kauffman/USPTOEntrepreneurialFinanceandInnovationConference,2010, paperpresentation*Kauffman/USPTOEntrepreneurialFinanceandInnovationConference,2010, discussion
FEAConference,UNC-ChapelHill,2014,discussionFEAConference,USC, 2012,discussion
FEAConference,Indiana University-Bloomington,2011,discussionFEAConference,Atlanta,2006,discussion
ChinaInternationalConference inFinance,2015, paper presentation*
ChinaInternationalConference inFinance,2011, paper presentation*
Florida StateUniversity,SpringFinance Conference, 2010,paperpresentationFlorida StateUniversity,SpringFinance Conference, 2009,discussion
Economics of Entrepreneurship andInnovation, 2013,paperpresentation
ASUSonoranWinterFinanceConference,2013,discussion
UNC-DukeCorporateFinanceConference, 2006,discussionUNC-Duke JointConference, 2004,discussion
JacksonHoleIPCWinterResearch Symposium, 2016,paperpresentationJacksonHole FinanceGroup,2007,paper presentation*
FirstInternationalConferenceinSingapore, 2007,discussion
RICAFEConference, 2008,paperpresentation*
RICAFEConference,2006,paperpresentation
RICAFEConference, 2006,discussion
RegionalComparativeAdvantageandKnowledge-Based Entrepreneurship(RICAFE)Conference,2005, paper presentation
(* indicatespresentation byco-author)
CONFERENCEORGANIZINGCOMMITTEEMEMBER
Western Finance Association Meetings
FinancialIntermediation Research Society
SFSCavalcade
European FinanceAssociation Meetings
Cambridge Corporate FinanceTheory Symposium
ColoradoFinanceSummit
MidwestFinance Association
ChinaInternationalConference inFinance
FEAConference
FMA
FMAAsia Pacific Meetings
FMA Europe
PhD STUDENTDISSERTATION SUPERVISION
YeCai,co-chair,UNC-Chapel Hill, 2010, placedatSanta ClaraUniversity
UgurCelikyurt,co-chair, UNC-Chapel Hill, 2008,placedatKocUniversity-IstanbulHung-ChiaHsu,committeemember, UNC-ChapelHill, 2007, placedattheUniversityofWisconsin-Milwaukee
RyanA, Krause,proposalexaminationcommitteemember,IndianaUniversity, 2012
MEDIA MENTIONS:
FinancialTimesAlphavilleBlog,M&ALawBlog, ResearchRecapBlog,Reuters
AD-HOCREVIEWERFOR:
FinancialManagement,FinancialReview,International Journal ofIndustrialOrganization,Journal of BankingandFinance,Journal of BusinessVenturing,Journal of CorporateFinance,Journal of EconomicsandManagement Strategy, Journal of EmpiricalFinance,Journal of CorporateFinance,Journal of Finance, Journal of FinancialIntermediation,ManagementScience,Review of CorporateFinance Studies,Reviewof Finance,Review ofFinancialStudies
AWARDS
2017MBATeachingExcellenceAward,KelleySchoolofBusiness
2017Trustees’TeachingAwardoftheKelleySchoolofBusiness, Finalist
2016MBATeachingExcellenceAward,KelleySchoolofBusiness
2014Distinguished MBA Core FacultyAward,Kenan-FlaglerBusinessSchool
2012Nominated for theTrustees’TeachingAwardoftheKelley
SchoolofBusiness
2012KelleySchoolof BusinessDean’sLetterforTeachingExcellence
2011Nominated for theTrustees’TeachingAwardoftheKelleySchoolofBusiness
2011KelleySchoolof BusinessDean’sLetterforTeachingExcellence
2010FacultyAppreciationAwardforTeachingDistinction,UNC-CH
2009FacultyAppreciationAwardforTeachingDistinction,UNC-CH
2008FacultyAppreciationAwardforTeachingDistinction,UNC-CH
2007FacultyAppreciationAwardforHighestTeaching Distinction,UNC-CH
2007RecipientoftheDean’sTeachingBonus,UNC-CH
2006WeatherSpoonAwardforTeachingExcellenceintheMBAProgram,UNC
2006FacultyAppreciationAwardforHighestTeachingDistinction,UNC-CH
2006RecipientoftheDean’sTeachingBonus,UNC-CH
2005FacultyAppreciationAwardforHighestTeachingDistinction,UNC-CH
2004FacultyAppreciationAwardforTeachingDistinction,UNC-CH
2003FacultyAppreciationAwardforTeachingDistinction,UNC-CH
1996-2000PhDFellowshipawarded byINSEAD
1996-2001SasakawaYoungLeadersFellowship
1995-1996British CouncilScholarship
1995-1996TurkishEducationalFoundationScholarship