Selected Publications

"Do Exposures to Sagging Real Estate, Subprime or Conduits Abroad Lead to Contraction and Flight to Quality in Bank Lending at Home?" with Steven Ongena and Natalja von Westernhagen, Review of Finance, 2018, 22 (4), 1335-1373.

"The Role of Interbank Relationships and Liquidity Needs" with Ben Craig and Falko Fecht, Journal of Banking and Finance, 2015, 53, 99-111.

"Transmission of Bank Liquidity Shocks in Loan and Deposit Markets: The Role of Interbank Borrowing and Market Monitoring" with Franklin Allen, Aneta Hryckiewicz and Oskar Kowalewski, Journal of Financial Stability, 2014, vol. 15, 112-126.

"Creditor Concentration: An Empirical Investigation" with Steven Ongena and Natalja von Westernhagen, European Economic Review, 2012, 56 (4), 830-847.

"Corporate Choice of Banks: Decision Factors, Decision Maker, and Decision Process - First Evidence" with Steven Ongena and Bram Vermeer, Journal of Corporate Finance, 2011, 17(2), 326-351.

"Bank Disclosure and Market Assessment of Financial Fragility: Evidence from Turkish Banks' Equity Prices" with Maria Fabiana Penas, Journal of Financial Services Research, 2010, vol. 37(2), 159-178.


Working Papers
"CDS and Credit: After the Bangs Cheaper Credit Insurance, More Lending and Hedging" (AFA 2017 paper), with Yalin Gunduz, Steven Ongena and Yuejuan Yu - submitted to a journal.

"Banks' equity stakes in firms: A blessing or curse in credit markets?" with Falko Fecht, Jose Luis Peydro and Yuejuan Yu, London, Centre for Economic Policy Research. https://cepr.org/active/publications/discussion_papers/dp.php?dpno=16594



Other Publications
"Financial technology in developing economies: A note on digital lending in Turkey" with Hakki Deniz Karaman, Tanseli Savaser and Murat Tinic, Economics Letters, 2021, Volume 207, 110012.

"Do Bank Loans Still Convey Information to the Investors? Evidence from the split share structure reform in China" with Liping Lu, H. Zhang, B. Xu and W. Wu, Emerging Markets Review, 2021, Volume 48, 100773.

"Firms' Choice of Financiers in M&A Deals: The Value of Bank-Firm Relationships" with Pantjes, R., Economic Notes: Review of Banking, Finance and Monetary Economics, 2017, 46(3), 633-648.

"Lending Technology, Bank Organization and Competition" with Hans Degryse and Steven Ongena, Journal of Financial Transformation, 2009, 26, 24-30.

"Corporate Governance: A Review of the Role of Banks" with Hans Degryse and Steven Ongena, in Gugler K. P. and B. B. Yurtoglu (eds.), The Economics Of Corporate Governance And Mergers, 2008,(Edward Elgar), 105-145.