Umit OzmelAssistant Professor;
Prof. Ozmel works on the formation, governance and performance of interorganizational exchanges such as strategic alliances and VC investments. Her first line of work focuses on the mechanisms through which interorganizational ties can facilitate the formation and governance of economic exchanges under high uncertainty and adverse selection risk. Relatedly, she analyzes the tension between value creation and value appropriation in interorganizational partnerships. Her recent work on alliance contracts in high tech industries focuses on the tension between value creation and value capture in high tech alliances, and the impact of the partners' relative bargaining power on the allocation of intellectual property rights as well as various rigths related to technology commercialization.
Her second line of research focuses on the performance consequences of economic exchanges that have been conducted under high uncertainty. Her recent paper on Journal of Financial Economics focuses on alliances and VC funding as alternative funding sources of high-tech startups and analyzes the impact of conflict of interests among the startup's various partners on the startup's future strategy and performance. Relatedly, in her paper on Strategic Management Journal, she analyzes the impact of venture capital funding (VC funding), and the tension between VC's value adding benefits and within-portfolio competition among VC's portfolio companies on a startup's performance. This study again emphasizes the tension between value creation and value capturing by demonstrating that it's not sufficient to form partnerships with prominent and experienced partners, instead the competition for the resources within the partner's portfolio and the relative ranking of the firm in its partner's portfolio is critical in determining a firm's ability to capture more value from its partnerships.
As part of her research agenda on the performance effects of a firm's interorganizational exchanges, she also works on the impact of interorganizational ties in determining investment returns in financial markets and how varying market conditions moderate the value of such ties.
"Strategic Alliance, Venture Capital and Exit Decisions in Early Stage High-tech Firms". 2013. (Umit Ozmel, David Robinson, Toby E. Stuart). Journal of Financial Economics, 107 (2013) 655–670.
"Network Interdependencies: Signals from Venture Capital and Alliance Networks in Determining Future Alliance Formation". 2013 (Umit Ozmel, Jeff Reuer, Ranjay Gulati). Academy of Management Journal, Vol. 56, No. 3, 852–866.
"Small Fish, Big Fish: The Performance Effects of the Relative Standing in Partners' Affiliate Portfolios" (Umit Ozmel, Isin Guler). Strategic Management Journal (Forthcoming, Available online as of Oct 2014).
Research interests: Formation and Governance of Strategic Alliances; interorganizational relationships, Venture Capital Investments; Entrepreneurial Finance.
PhD in Management, Columbia Business School (2009); Masters in Economics, Yale University (2004). MBA, Koc University; BS in Electrical and Electronics Engineering, Bogazici University.
Previous Work Experience:
- Assistant Prof. of Strategy and Entrepreneurship, Kenan-Flagler Business School, UNC Chapel Hill (2008-2010)
- Private Consultant (2004)
- Corporate Portfolio Manager, Ottoman Bank (1996-1998)