Empirical Banking
Bank Regulation
Financial Stability
Corporate Governance
Financial Markets
Climate Finance
Industrial Policy
Stakeholder Orientation and Financial Reporting Quality: Evidence for US Banking
with D.K. Chronopoulos, A.L. Sobiech and J.O.S. Wilson
Innovation Zones, Technological Upgrading and Firm Productivity
with Y.E. Akgündüz, C.G. Aksoy, R. De Haas and F. Loiacono
Fault Lines of Value: The Impact of Earthquake Risk on İstanbul Housing Market
R&R at Journal of Real Estate Finance and Economics
with O. Çepni, L. Gündüz and İ. Genç
Bank Inflation Expectations and Credit Supply: Evidence for Türkiye
with Y.E. Akgündüz, K. Bölükbaş, M.S. Çolak and M.D. Özbekler
Ring-Fencing Bank Fees and Commissions: Implications and Externalities
Under Review at CBRT Working Papers
with H.İ. Aydın and Y.S. Hacıhasanoğlu
It Is Not Your Risk but It Is Your Problem: Peer Country Effects on Emerging Market Credit Default Swap Spreads
International Journal of Finance & Economics, 2025
with M.S. Çolak, S. Korkmaz and H. Öztürk
State Ownership and Bank Lending: Evidence from Turkish Banking
International Journal of Banking, Accounting and Finance, 2025
with D.K. Chronopoulos, Anna L. Sobiech and J.O.S. Wilson
Boon or Bane? The Impact of Loan Supply and Demand Shocks on Loan Dispersion
Review of Corporate Finance, 2025
with S.Z. Atılgan, T. Aydoğdu and H. Öztürk
Forecasting Türkiye Local Inflation with Global Factors
Bulletin of Economic Research, 2024
with O. Çepni, A. Kazdal and M.E. Olgun
Financial Market Discipline on Bank Risk: Implications of State Ownership
Central Bank Review, 2024
with A. Kazdal and Y. Kılıç
Climate Change Exposure and Cost of Equity
Energy Economics, 2024
with O. Çepni and A. Şensoy
Stakeholder Orientation and Bank Payout Policy: Evidence from US Constituency Statutes
British Journal of Management, 2023
with D.K. Chronopoulos and J.O.S. Wilson
Competition and Bank Dividends
Journal of International Money and Finance, 2023
with D.K. Chronopoulos, E.E.C Johari, B. Scholtens, A.L. Sobiech and J.O.S. Wilson
Regulatory Oversight and Bank Risk
Journal of Financial Stability, 2023
with D.K. Chronopoulos and J.O.S. Wilson
Covid-19 Pandemic, Vaccination and Household Expenditures: Regional Evidence from Turkish Credit Card Data
Applied Economics Letters, 2023
with S. Gül, Y.S. Hacıhasanoğlu and A. Kazdal
Do the Carry Trades Respond to Geopolitical Risks? Evidence from BRICS Countries
Economic Systems, 2023
with O. Çepni, F. Emirmahmutoğlu and İ.E. Güney
The Impact of Oil Price Shocks on Turkish Sovereign Yield Curve
International Journal of Emerging Markets, 2022
with O. Çepni, S. Gül and B. Lucey
Does Climate Change Affect Bank Lending Behavior?
Economics Letters, 2022
with Ç. Aslan, E. Bulut and O. Çepni
The Effect of Environmental, Social and Governance Risks
Annals of Tourism Research, 2022
with T. Dogru, E. Akyildirim, O. Çepni, O. Ozdemir and A. Sharma
Composing High-Frequency Financial Conditions Index and Implications for Economic Activity
Borsa Istanbul Review, 2022
with A. Kazdal and H.İ. Korkmaz
Consumer Loan Rate Dispersion and the Role of Competition: Evidence from Turkish Banking Industry
Central Bank Review, 2022
with S.B. Baziki and Y. Kılıç
Do Local and Global Factors Impact the Emerging Markets’ Sovereign Yield Curves? Evidence from a Data-Rich Environment
Journal of Forecasting, 2021
with O. Çepni, İ.E. Güney and D. Küçüksaraç
Capital Flows under Global Uncertainties: Evidence from Turkey
Borsa Istanbul Review, 2021
with O. Çepni, M.S. Çolak and Y.S. Hacıhasanoğlu
Global Uncertainties and Portfolio Flow Dynamics of the BRICS Countries
Research in International Business and Finance, 2020
with O. Çepni, S. Gül and Y.S. Hacıhasanoğlu
Credit Decomposition and Economic Activity in Turkey: A Wavelet-Based Approach
Central Bank Review, 2020
O. Çepni and Y.S. Hacıhasanoğlu
Forecasting Local Currency Bond Risk Premia of Emerging Markets: The Role of Cross-Country Macro-Financial Linkages
Journal of Forecasting, 2020
with O. Çepni, İ.E. Güney and R. Gupta
The Sensitivity of Credit Default Swap Premium to Global Risk Factor: Evidence from Emerging Markets
Economics Letters, 2017
with O. Çepni and D. Küçüksaraç
Inflation Expectations and Credit Behavior: Micro Evidence from Türkiye
CBRT Research Notes in Economics, 2025
with Y.E. Akgündüz, M.S. Çolak and M. Demirbaş Özbekler
Market Concentration and Firm Markups: Micro Evidence from an Emerging Market with Inflationary Pressures
CBRT Working Papers, 2025
with M.S. Çolak, A. Kazdal and Ü. Seven
Climate Anomalies and Inflationary Pressures: Evidence from Türkiye
CBRT Working Papers, 2024
with U. Can, O. Çepni and A. Kazdal
Boon or Bane? The Impact of Loan Supply and Demand Shocks on Loan Price Dispersion
CBRT Working Papers, 2024
with S.Z. Atılgan, T. Aydoğdu and H. Öztürk
A Panorama of Liquidity Creation in Turkish Banking Industry: Highlights, Predictors and Consequences
CBRT Working Papers, 2024
with M.S. Çolak, M.B. Deniz and S. Korkmaz
It Is Not Your Risk but It Is Your Problem: A Spatial Analysis of Emerging Market Credit Default Swap Premia
CBRT Research Notes in Economics, 2024
with M.S. Çolak, S. Korkmaz and H. Öztürk
Anticipating Credit Developments with Regularization and Shrinkage Methods: Evidence for Turkish Banking Industry
CBRT Working Papers, 2024
with S.Z. Atılgan, T. Aydoğdu and M.S. Çolak
Consumer Loan Rate Dispersion and the Role of Competition: Evidence from Turkish Banking Sector
CBRT Working Papers, 2021
with S.B. Baziki and Y. Kılıç
External Vulnerabilities and Exchange Rate Pass-Through: The Case of Emerging Markets
SUERF-The European Money and Finance Forum Policy Note, 2021
with A. Kazdal
External Vulnerabilities and Exchange Rate Pass-Through: The Case of Emerging Markets
CBRT Working Papers, 2021
with A. Kazdal
The Impact of Oil Price Shocks on Turkish Sovereign Yield Curve
CBRT Working Papers, 2021
with O. Çepni, S. Gül and B. Lucey
Credit Decomposition and Economic Activity in Turkey: A Wavelet-Based Approach
CBRT Working Papers, 2020
with O. Çepni and Y.S. Hacıhasanoğlu
Synchronization, Concordance and Similarity between Business and Credit Cycles: Evidence from Turkish Banking Sector
CBRT Working Papers, 2020
with M.S. Çolak and A. Kazdal
Do Local and Global Factors Impact the Emerging Markets’ Sovereign Yield Curves? Evidence from a Data-Rich Environment
CBRT Working Papers, 2020
with O. Çepni, İ.E. Güney and D. Küçüksaraç
Investigating Regime-Dependent Dynamics in Risk Premium: Evidence from Turkey and Emerging Markets
CBRT Research Notes in Economics, 2020
with M. Akay, B. Bayram and A. Kazdal
Exchange Rate Sensitivity of Firm Value: Recent Evidence from BIST Non-Financial Firms
CBRT Research Notes in Economics, 2019
with İ.E. Güney, A. Kazdal and D. Küçüksaraç
The Determinants of FX Derivatives Use: Empirical Evidence from Turkish Non-Financial Firms in BIST
CBRT Research Notes in Economics, 2019
with M. Akay and D. Küçüksaraç
Monitoring and Forecasting Cyclical Dynamics in Bank Credits: Evidence from Turkish Banking Sector
CBRT Working Papers, 2019
with M.S. Çolak, İ.E. Güney and A. Şenol
Composing High Frequency Financial Conditions Index and Implications for Economic Activity
CBRT Working Papers, 2019
with A. Kazdal and H.İ. Korkmaz
The Interaction between Yield Curve and Macroeconomic Factors
CBRT Research Notes in Economics, 2018
with O. Çepni, İ.E. Güney and D. Küçüksaraç
Export Developments from the Concentration Perspective: A Case Study for Turkey
CBRT Official Blog, 2018
with A. Kazdal and S.K. Özcan
The Sensitivity of CDS Premium to the Global Risk Factor: Evidence from Emerging Markets
CBRT Research Notes in Economics, 2018
with O. Çepni and D. Küçüksaraç
Box 3.8: Evaluating the Impact that Technology Development Zones Have on Firm-Level Outcomes in Türkiye
EBRD Transition Report, 2024
with C.G. Aksoy
The Effect of Personal Credit Card Limits on Card Use: Micro Data Evidence from An Emerging Market
Centre for Responsible Banking & Finance Working Papers, 2024
with M.S. Çolak, Y. Kılıç and Y. Yıldırım
State Ownership and Bank Lending: Evidence from Turkish Banking
Centre for Responsible Banking & Finance Working Papers, 2024
with D.K. Chronopoulos and J.O.S. Wilson
Box III.2.I: Firm Asset Composition, Credit Utilization and Price Expectations
CBRT Financial Stability Report Vol. 39, 2024
Box 2.2: The Relationship Between Retail Loan Utilization and Income
CBRT Inflation Report 2024-IV, 2024
Box 2.1: Real Sector Inflation Expectations and Borrowing Behavior
CBRT Inflation Report 2024-III, 2024
Section IV.I.I: Credit Developments
CBRT Financial Stability Report Vol. 38, 2024
Energy Supply and Industrial Outcomes: A Quasi-Experimental Evidence from Recent Natural Gas Outage
Centre for Responsible Banking & Finance Working Papers, 2024
with O. Çepni, S. Gül and A. Kazdal
Section III.1: Household Developments
CBRT Financial Stability Report Vol. 37, 2023
Climate Change Exposure and Cost of Equity
Centre for Responsible Banking & Finance Working Papers, 2023
with O. Çepni and A. Şensoy
Capital Market Discipline and Bank Credit Risk: The Role of Bank Ownership Structure
Centre for Responsible Banking & Finance Working Papers, 2023
with B. Bayram, M. Çelik, A.Kazdal, Y. Kılıç and F. Y. Özcan
Does Climate Change Affect Bank Lending Behavior?
Centre for Responsible Banking & Finance Working Papers, 2022
with Ç. Aslan, E. Bulut and O. Çepni
Stakeholder Orientation and Bank Payout Policy: Evidence from US Constituency Statutes
Centre for Responsible Banking & Finance Working Papers, 2022
with D.K. Chronopoulos and J.O.S. Wilson
Regulatory Oversight and Bank Risk
Centre for Responsible Banking & Finance Working Papers, 2022
with D.K. Chronopoulos and J.O.S. Wilson
Section IV.1: Credit Development and Credit Risk
CBRT Financial Stability Report Vol. 30, 2020
Special Topic V.2: The Coherence between Credit and Business Cycles: Evidence from Turkish Banking Sector
CBRT Financial Stability Report Vol. 30, 2020
Special Topic V.3: Factors Impacting CDS Premium in EM Economies: A Case Study for Turkey
CBRT Financial Stability Report Vol. 30, 2020
The Role of Dollarization on Exchange Rate Pass-Through in Emerging Markets: Evidence from Panel VAR Model
Finans Politik ve Ekonomik Yorumlar Dergisi, 2020
with İ.E. Güney and A. Kazdal
Section IV.1: Credit Development and Credit Risk
CBRT Financial Stability Report Vol. 29, 2019
Special Topic V.1: Monitoring Cyclical Dynamics in Bank Credits: Evidence from Turkish Banking Sector
CBRT Financial Stability Report Vol. 29, 2019
A New Approach to Forecasting Loan Growth: Unobserved Components Model (in Turkish)
Bank Association of Turkey Bankers’ Journal, 2018
with İ.E. Güney and D. Küçüksaraç
Nonlinear Dynamics in Exchange Rate Pass-Through and Inflation Persistence: The Case of Turkish Economy
Asian Journal of Economic Modelling, 2018
with M. Çiftçi
Factors Impacting Bank Net Interest Margin and the Role of Monetary Policy: Evidence from Turkey
International Journal of Finance and Banking Studies, 2017
Section III.3: Interest Rate and Exchange Rate Risk
Exchange Rate Sensitivity of Firm Value: Evidence from Non-Financial Firms Listed on Borsa Istanbul
Emerging Theories, Models, and Applications of Financial Econometrics, Springer, 2021
with İ.E. Güney, A. Kazdal and D. Küçüksaraç
Assessing Credit Cycle Dynamics in the Turkish Banking Sector
Evolution of Money, Banking and Financial Crisis: Evolution, Theory, Policy, Peter Lang, 2020
with M.S. Çolak and İ.E. Güney
Research and Monetary Policy Department Seminar, CBRT, July 2025
14th International Conference of the Financial Engineering and Banking Society, MBS School of Business, June 2025
Spring Meeting of Turkish Economic Association, İstanbul Bilgi University, May 2025
Department of Finance Seminar Series, University of St Andrews, December 2024
Research and Monetary Policy Department Seminar, CBRT, September 2024
Banking and Financial Institutions Department Seminar, CBRT, August 2024
FEASS Seminar, Bahçeşehir University, April 2024
Research and Monetary Policy Department Seminar, CBRT, February 2024
Finance Workshop, Koç University, January 2024
BAM2022 Conference, University of Manchester Alliance Business School, September 2022
Scottish Doctoral Colloquium in Accounting and Finance, Robert Gordon University Aberdeen Business School, June 2022
11th International Conference of the Financial Engineering and Banking Society, Portsmouth Business School, June 2022
Graduate Student Seminar Series, Bilkent University, Faculty of Business Administration, April 2022
PhD Summer Seminar, University of St Andrews, School of Management, June 2021
Scottish Doctoral Colloquium in Accounting and Finance, University of Edinburgh Business School, June 2021
National Bank of Serbia, January 2021
Financial Stability and Macroprudential Policies of Central Banks (Seminar), Banque de France-The International Banking and Finance Institute, September 2019
International Conference on Economics (ICE-TEA 2018), Turkish Economic Association, November 2018
Associate Editor, Central Bank Review, 2023-
British Accounting Review
European Journal of Finance
Journal of Business Finance and Accounting
Journal of International Money and Finance
Annals of Operations Research
Energy Economics
Annals of Tourism Research
International Review of Economics and Finance
Research in International Business and Finance
Global Finance Journal
Business Strategy and the Environment
Review of Corporate Finance
Economic Modelling
Economic Analysis and Policy
Economic Systems
International Economics
Sustainable Futures
International Journal of Emerging Markets
Applied Economics
Computational Economics
Journal of Economics and Finance
Digital Finance
Humanities and Social Sciences Communications
Central Bank Review
CBRT Working Papers
CBRT Research Notes in Economics
Sosyoekonomi
Honorary Academic Fellow, Centre for Responsible Banking & Finance, University of St Andrews Business School