Associate Professor

Department : Finance and Accounting

Nationalities :


  • Financial Institutions and Markets
  • Financial Management
  • Introduction to Finance
  • Multinational Financial Management
  • Banking and Financial System
  • Managerial Economics


  • Ph.D. in Economics, Lancaster University, UK (1995-1999)
  • M.Sc. in International Trade and Finance, Lancaster University, UK (1994-1995)
  • B.Sc. in Management, Middle East Technical University – METU, Ankara-Turkey, High Honours (1988-1993)

Work Experience

  • Associate Professor, Finance and Accounting Academic Area, Rennes School of Business (September 2017 – Present)
  • Associate Professor, Kadir Has University, Department of International Trade and Finance, Istanbul-Turkey (2007-2017)
  • Fellow, Center for Social and Economic Research (CASE), Warsaw, Poland (October 2009- Present).
  • Assistant professor, Yeditepe University, Department of Management, Istanbul-Turkey (2005- 2007)
  • Research Fellow, Center for Risk and Insurance Studies, Nottingham University Business School, Research title “Performance Benchmarking in European Insurance Markets” (Funded by KPMG USA), (January 2004 to December 2004)
  • Post-doctoral Research Fellow, Centre for Economic Research (CentER), Tilburg University, Research Training Network (RTN) on “The Analysis of International Capital Markets: Understanding Europe’s Role in the Global Economy” (Funded by the European Commission), (January 2002 to December 2003)
  • Lecturer, Instituto Tecnologico Y De Estudios Superiores De Monterrey, Mexico City Campus, Department of Accounting and Finance, (July 2000-July 2001)

Research interests

  • International banking
  • Performance evaluation, competition and regulation in financial institutions
  • FDI and firm internationalization
  • Corporate governance



  • Journal of BRSA (Turkish Banking Regulation and Supervision Agency) Banking and Financial Markets, Australian
  • Economic Review, Emerging Markets Finance and Trade, Iktisat, Isletme ve Finans Dergisi, Acta Oeconomica, Japanese Economic Review

Conferences committees

  • Institutional Aspects of Banking & Finance, 4-5 November 2016, Kadir Has University, Istanbul, Turkey (steering committee)
  • Istanbul Finance Congress 2013, 30-31 May 2013, Istanbul (local organizing committee)

Scholarships and awards

  • Research and travel grant, Economic Research Forum (ERF) (2008, 2009, 2013, 2014, 2015)
  • Research grant, Kadir Has University (2009-2010)
  • Scholarship from the Turkish Ministry of Education to undertake postgraduate studies (Master’s and PhD.) in the UK (1994-1999)

Intellectual contributions

Refereed Articles Discipline-Based Scholarship

Journal Articles

  • “Bank value and geographic diversification: regional vs global” (with Georgios Efthyvoulou), Journal of Financial Stability, 36, 225-245, 2018 (SSCI; ABS journal ranking: 3)
  • “Turkey’s Outward Foreign Direct Investment: Trends and Patterns of Mergers and Acquisitions”, Journal of Balkan and Near Eastern Studies, 19 (3): 276-293, 2017. (SSCI)
  • “Efficiency in Turkish Banking: Post-restructuring Evidence” (with N. Davutyan), European Journal of Finance, 23 (2): 170-191, 2017 (SSCI; ABS journal ranking: 3)
  • “Liberalization, Post-Crisis Restructuring and Internationalization in Turkish Banking”, Turkish Studies, 16, 2: 253-279, 2015 (SSCI)
    “Competition in Turkish Banking: Impacts of Restructuring and the Global Financial Crisis”, The Developing Economies 52, 2: 95–124, 2014. (SSCI)
  • “Market power in CEE banking sectors and the impact of the global financial crisis” (with G. Efthyvoulou), Journal of Banking and Finance, 40: 11-27, 2014. (SSCI; ABS journal ranking: 3)
  • “Cost and Profit Efficiencies in Transition Banking: the case of new EU members” (with A. Kasman), Applied Economics, 38, 1079-1090, 2006. (SSCI; ABS journal ranking: 2)
  • “Evolution of banking efficiency within an unstable macroeconomic environment: The case of Turkish commercial banks” Applied Economics, 34, 18: 2289-2301, 2002. (SSCI; ABS journal ranking: 2)

Refereed Proceedings Discipline-Based Scholarship

  • XXV International Rome Conference on Money, Banking and Finance (MBF); University of Rome III, December 1-2, 2016, Rome, Italy.
  • 23rd Annual Conference of the Multinational Finance Society, June 26-29, 2016, Stockholm, Sweden.
  • Economic Research Forum (ERF) 21st Annual Conference: Democracy and Economic Development, 20-22 March 2015
  • Tunis, Tunisia ICEF2014 Istanbul Conference of Economics and Finance, 8-9 Sep, 2014, Istanbul, Turkey.
  • Economic Research Forum (ERF) 20th Annual Conference: Economic Development and Social Justice, 22-24 March 2014 Cairo, Egypt.
  • Borsa Istanbul Finance and Economics Conference, 30 September-1 October 2013, Istanbul.
  • Global Business and Technology Association, 15th Annual International Conference. 2-6 July 2013, Helsinki, Finland.
  • EconAnadolu 2013, Third International Conference in Economics, 19-21 June 2013, Eskişehir.
  • Istanbul Finance Congress 2013, 30-31 May 2013, Istanbul.
  • 10th Conference Eurasia Business and Economics Society (EBES), 23-25 May 2013, Istanbul.
  • 19th Annual Conference of the Economic Research Forum, 3-5 March 2013, AFESD, Kuwait.
  • SERVICEGAP End of Project Conference, 5-6 November, 2012, ZEW, Mannheim.
  • INDICSER End of Project Conference, 27-28 September 2012, Budapest.
  • EuroConference, 12-14 July 2012, Portoroz, Slovenia
  • 16th Annual Conference of the Economic Research Forum, 7-9 November 2009, Cairo, Egypt.
  • 15th Annual Conference of the Economic Research Forum, 23-25 November 2008, Cairo, Egypt.
  • Corporate Governance in Emerging Markets Workshop, organized by Global Corporate Governance Forum and Asian Institute of Corporate Governance, 19-20 September 2008, Yale School of Management, USA.
  • Business & Economics Society International 2008 Conference, 15-19 July 2008, Lugano, Switzerland.
  • International Conference on Family Firms and Corporate Governance, organised by Corporate Governance Forum of Turkey, Global Corporate Governance Forum and European Corporate Governance Institute, 20-22 May 2004, Istanbul, Turkey.
  • ERC/METU International Conference in Economics VII, Middle East Technical University, 6-9 September 2002, Ankara, Turkey.
  • Academy of Business and Administrative Science (ABAS), International Conference, 23-25 July 2001, Brussels, Belgium.
  • ERC/METU International Conference in Economics III, Middle East Technical University, 8-11 September 1999, Ankara, Turkey.

Seminar presentations and workshops

  • GLODEM Workshop on Turkish Multinational Corporations Abroad: Trends, Strategies and Motivations, GLODEM Research Center, Koç University, Istanbul, November 25 2016.
  • 6th All-İstanbul Economics Workshop, Faculty of Business, Özyeğin University, Istanbul, May 14, 2016.
  • Istanbul School of Central Banking, Central Bank of the Republic of Turkey (invited) within the İMB Seminer Series, 10 March 2016.
  • “Banking sector and economic activity: Identifying the real and financial challenges” Workshop, Istanbul School of Central Banking, Central Bank of the Republic of Turkey, 19 December 2013. (invited).
  • “Impact of service sector innovation and internationalization on growth and productivity” Conference, Center for Social and Economic Research (CASE), 15 February 2013, Warsaw.
  • “Europe 2020: Exploring the future of European integration” Conference, Center for Social and Economic Research (CASE), 18 November 2011, Warsaw. (session moderator).

Books, Monographs, Compilations, Chapters

Book chapters

  • “European Insurance Markets: Recent Trends and Future Regulatory Developments” (with P. Klumpes, P. Fenn, S. Diacon, C. O’Brien) in ‘Handbook of International Insurance: Between Global Dynamics and Local Contingencies’ edited by J.D. Cummins and B. Venard. pp. 789-848, Springer, 2007.
  • “Financial aspects of adjustment and transition towards EU membership: Turkey and Eastern Europe” (with P. N. Snowden) in ‘Turkey and Central and Eastern European Countries in Transition: Towards Membership of the EU’ edited by S.Togan and V. N. Balasubramanyam. pp. 98-115, Palgrave, 2001.