Bige Kahraman

Bige Kahraman Alper

Associate Professor of Finance

Saïd Business School
University of Oxford
Park End Street


Bige Kahraman Alper is an Associate Professor of Finance at Saïd Business School and a Fellow of Kellogg College at the University of Oxford.

She holds a PhD in Economics from Yale University with specialisations in financial economics and econometrics. She is a Research Affiliate in the Financial Economics programme of the Centre for Economic Policy Research (CEPR) and an Economic Adviser to Financial Conduct Authority.

Bige’s research focuses on analysing the sources of market frictions giving rise to market inefficiency and systematic liquidity crises. Her recent studies quantify the importance of various frictions – for instance, arising from capital constraints, organisational structures in asset management intermediaries and asymmetric information – and examine the role of financial innovation that can help markets overcome these frictions. Her papers appear in top academic journals such as Journal of Finance and Review of Financial Studies.

Find out more about Bige's work, visit her personal website.


Bige’s research is concerned with market frictions, efficiency and market crises.


Fee complexity and investor mistakes in retail financial markets(opens in new window)

  • Journal article
  • Quarterly Journal of Finance
  • Bige Kahraman

Publicizing arbitrage: Impact of mandatory disclosures(opens in new window)

  • Journal article
  • Journal of Financial and Quantitative Analysis
  • B Kahraman

Margin trading and comovement during crises(opens in new window)

  • Journal article
  • Review of Finance
  • Bige Kahraman,
  • H Tookes

Open-end organizational structures and limits to arbitrage(opens in new window)

  • Journal article
  • Review of Financial Studies
  • Mariassunta Giannetti,
  • C Bige Kahraman

Trader leverage and liquidity(opens in new window)

  • Journal article
  • Journal of Finance
  • Cihan Kahraman,
  • Heather E Tookes
See more publications


Bige teaches the Firms and Market (Microeconomics) core course on the MBA and Executive MBA programmes.