Elif Sisli Ciamarra

Adjunct Associate Professor

Elif  Sisli Ciamarra's photo


Email: esisli@brandeis.edu
Office: Sachar International Center 130D
Phone: 781-736-8544
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Corporate Finance, Corporate Governance, Financial Intermediation, Executive Compensation, Corporate Social Responsibility


  • HS 215b - Corporate Finance
  • HS 801g - Proseminar


  • New York University
  • International University of Japan
  • Bogazici University

Elif Sisli Ciamarra

Adjunct Associate Professor


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Elif Sisli Ciamarra (Ph.D., New York University), Assistant Professor. Dr. Sisli Ciamarra’s research interests include corporate finance, corporate governance, corporate social responsibility, financial intermediation and executive compensation. She holds undergraduate degrees in economics and business administration from Bogazici University in Istanbul, Turkey, and M.B.A. degree from International University of Japan in Niigata, Japan. Prior to her academic career, Dr. Sisli Ciamarra worked for the Asian Development Bank Institute in Tokyo, Japan.

Awards and Honors

  • Outstanding Corporate Finance Paper Award, Eastern Finance Association (2012)
  • Ford Foundation/Aspen Institute Global Scholar Network Fellowship (2006 - 2007)
  • Stern Award for Ph.D. Teaching Excellence (2006)
  • Willensky Fellowship, Stern School of Business (2005 - 2006)
  • Monbusho Scholar, Ministry of Education, Japan (1997 - 1999)


  • Sisli Ciamarra, Elif; Tanseli Savaser. "Differential Risk Taking Implications of Performance Incentives from Stock and Stock Option Holdings." Journal of Financial Research (2019). (forthcoming)
  • Sisli Ciamarra, Elif; Charisse A. Gulosino. "Donors and Founders on Charter School Boards and Their Impact on Financial and Academic Outcomes." Education Finance and Policy 14. 3 (2019).
  • Sisli Ciamarra, Elif; Virginia Cortijo; Lee Phillip McGinnis. "The AGE Model: Addressing Ageism in the Workplace through Corporate Social Responsibility." Journal of Labor and Society 22. 1 (2019): 197-213.
  • Sisli Ciamarra, Elif; Savaser, Tanseli. "Executive Compensation and Risk Taking during Economic Expansions and Recessions." Review of Finance 21. 2 (2017): 911-944.
  • Sisli Ciamarra, Elif, and Alon Raviv. "Executive Compensation and Risk Taking: The Impact of Systemic Crises." The Financial Crisis - Implications for Research and Teaching. Ed. in Amann, Wolfgang, Ted Azarmi and Mathias Moersch. Springer Verlag, 2016
  • Sisli Ciamarra, Elif; Hornstein, Abigail. "Director Overlaps in Mutual Fund Families." 2015.
  • Sisli Ciamarra, Elif; Savaser, Tanseli. "Managerial Risk Taking Incentives and Firm Risk in the Post-Regulatory Era." 2014.
  • Hilscher, Jens and Elif Sisli Ciamarra. "Conflicts of interest on corporate boards: The effect of creditor-directors on acquisitions." Journal of Corporate Finance 19. (2013): 140-158.
  • Raviv, Alon and Sisli Ciamarra, Elif. "Executive Compensation, Risk Taking and the State of the Economy." Journal of Financial Stability 9. 1 (2013): 55-68.
  • Sisli Ciamarra, Elif. "Monitoring by Affiliated Banker on Boards of Directors: Evidence from Corporate Financing Outcomes." Financial Management 41. 3 (2012): 665-702.
  • Masahiro Kawai, Peter A Petri and Sisli Ciamarra, Elif. ""Asia in Global Governance: A Case for Decentralized Institutions."." Asian Regionalism and the World Economy: Engine for Dynamism and Stability.. Ed. Masahiro Kawai, Jong Wha Lee and Peter A. Petri.. Edward Elgar, 2010
  • Sisli Ciamarra, Elif and Ingo Walter. "The Asset Management Industry in Asia: Dynamics of Growth, Structure and Performance,." Financial Markets, Institutions and Instruments, 16. 1 (2007).