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Duygu Zirek

Associate Professor, Accounting and Finance

School of Business 383
BA, Bogazici University
PhD, City University of New York
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Dr. Duygu Zirek completed her PhD in Financial Economics at CUNY in 2012. She worked at the University of New Orleans upon completion of her PhD prior to joining MSU. She has taught in the PhD in Financial Economics, MBA and undergraduate programs in Investments, Derivatives and Macroeconomics areas. Her work has been published in leading journals including <i>Journal of Corporate Finance, Journal of Economics and Business, Quarterly Review of Economics and Finance, Applied Economics </i>and<i> Emerging Markets Finance and Trade</i>. She is a member of Financial Management Association and an affiliate Member of the CFA Institute and CFA Society Louisiana.


Dr. Zirek’s specialization is in empirical asset pricing, financial econometrics and corporate finance.


  • "M&A of Fintech and Non-Fintech Companies" with Omer Unsal and Bora Ozkan
  • "Stock Price Synchronicity, Diversification and Predictability of Aggregate Stock Returns in International Markets" with Ozgur Demirtas
  • "Systematic Literature Review of Smart Contracts in Financial Services" with Marina Johnson and Salih Tutun

Professional Experience

  • Assistant Professor of Finance, University of New Orleans (2012 - 2018)
  • Associate Professor of Finance, University of New Orleans (2018 - 2020)
  • Associate Professor of Finance, Montclair State University (2020 - Present)


  • Litigation Expert Consultant/Support, Economatrix Research Associates. (September 2008 - June 2009). 20 hours/week

Honors & Awards

  • McGraw-Hill Education Distinguished Paper Award, (March 2017)

Refereed Published Articles

  • D. Zirek, K. Demirtas (2011). Aggregate Earnings and Expected Stock Returns in Emerging Markets. Emerging Markets Finance and Trade
  • D. Zirek, O. Unsal, M. Hassan (2016). Corporate lobbying, CEO political ideology and firm performance. Journal of Corporate Finance
  • D. Zirek, M. Hassan, F. Celebi (2016). The Islamic Banking and Economic Growth Nexus: A Panel VAR Analysis for Organization of Islamic Cooperation (OIC) Countries. Journal of Economic Cooperation Development
  • D. Zirek, O. Unsal, M. Hassan (2017). Corporate Lobbying and Labor Relations: Evidence from Employee-Level Litigations. Journal of Corporate Finance
  • D. Zirek, O. Unsal, M. Hassan (2017). Impact of Product Recall Announcements and Security Price Reaction. Journal of Economics and Business
  • D. Zirek, A. Noman , A. Naka (2017). Prior Returns Relative to a Benchmark and Return Predictability on Industry Style Portfolios. The Quarterly Review of Economics and Finance
  • D. Zirek, A. Alhomaidi, M. Hassan, A. Alhassan (2018). Does an Islamic Label Cause Stock Price Comovements and Commonality in Liquidity?. Applied Economics
  • D. Zirek, O. Unsal (2023). Green Bonds: Do Investors Benefit from Third-Party Certification?. Global Finance Journal
  • D. Zirek, L. Pezzo, L. Wang (2023). Large Scale Mean-Variance Strategies in the U.S. Stock Market. Research in International Business and Finance
  • L. Pezzo, L. Wang, S. Shin, D. Zirek (2023). Dynamics of mining markets: Equilibrium implications for professional and casual miners. Global Finance Journal