The primary focus of this dissertation is on the banking sectors of economies where a high level of bank deposits is held in foreign currencies. Our aim is to understand if and how a high level of foreign exchange deposits influences the performance of banks in such economies and contributes to...

American CEOs rank among the highest-paid executives globally, while European CEOs managing similarly sized companies earn significantly less than their U.S. counterparts. This paper examines the factors contributing to the disparities in executive compensation between the U.S. and Europe. The...

By using data from thirteen publicly traded commercial and deposit banks this paper estimates the determinants of market risk for bank equities in the case of an emerging market setting, Turkey. The analysis reveals that maturity composition of a bank’s loans, the share of trading income in a...

On June 16 2009, in what authorities called ``a surprise development'' the Turkish Government removed a provision from its existing laws that had allowed Turkish residents to borrow in foreign currency from banks operating in Turkey. The development ended a long era of foreign currency lending...

By using data from 8 depository institutions in Turkey we evaluate the drivers of securitization between 2004 and 2009. Our analysis shows that previous period securitization as well as bank equity, level of profits and asset size are important factors in a bank’s decision to securitize its...

One of the most cited criticism for US fashion brands is their exploitation of workers in their overseas manufacturing facilities. This paper studies whether such textile and apparel production facilities (also known as “sweatshops”) lead to lower education and thus a lower socio-economic...

Turkey is one of the eight countries that currently have a corporate governance index for firms listed on its main stock exchange (Borsa Istanbul). As in the case of many emerging markets, the country’s business landscape is characterized by family owned conglomerates some of which have...

Econometrics in general, and Panel Data methods in particular, are becoming crucial in Public Health Economics and Social Policy analysis. In this discussion paper, we employ a useful approach of Feasible Generalized Least Squares (FGLS) to assess if there are statistically relevant...

This paper expands on the work of Sarno and Taylor (1999) and develops three alternative models in which creditor moral hazard might occur in equity markets under different assumptions regarding the existence of asset market bubbles and implicit guarantees. Incorporating IMF-related news...

This paper analyzes the impact of news, oil prices, and international financial market developments on daily returns on Russian bond and stock markets. First, regarding returns, energy news affects returns, while news from the war in Chechnya is not significant. Market volatility does not appear...