Cihan Yalcin
Central Bank of the Republic of Turkey
Network
Latest external collaboration on country level. Dive into details by clicking on the dots.
Publication
Featured researches published by Cihan Yalcin.
Archive | 2005
Paul Mizen; Cihan Yalcin
This paper examines the impact of the dramatic reduction in interest rates by the Federal Reserve on Hong Kong. Using a panel of several hundred firms in Hong Kong we find that firms increase all types of debt, but shift from short-term to long-term debt as rates fall. This can be attributed in part to a supplyside effect as the benign monetary policy environment has improved creditworthiness. The most noticable result from our analysis is the high level of bank dependence among Hong Kong firms and the continued dependence on bank finance even when interest rates fall. Potentially this may reveal that Hong Kong lacks the benefits of a deep domestic bond market.
European Journal of Finance | 2018
Spiros Bougheas; Hosung Lim; Simona Mateut; Paul Mizen; Cihan Yalcin
ABSTRACT This paper develops a simple signaling model of foreign currency borrowing that yields predictions about firm survival and performance during a currency crisis. Using a large panel of firm level data for South Korea we offer empirical support for many of the predictions of our model, while others support predictions that cannot be tested using our data. Our paper demonstrates that although firms that borrow in foreign currency are more likely to exit after the currency collapses, those that continue to produce perform better. Among them, the best performers are exporters whose foreign sales are more competitively priced under a devalued currency.
Review of Middle East Economics and Finance | 2018
Armağan Gezici; Özgür Orhangazi; Cihan Yalcin
Abstract This paper examines the link between financing constraints and firm exporting behavior through an in-depth study of the Turkish manufacturing firms between 1996 and 2013. Utilizing a rich firm-level data set, we test for both ex-ante and ex-post links between exports and financing constraints to tackle potential selection biases and endogeneity problems. We find a positive and statistically significant export premium for financing constraints in general. In further testing we show that there is no significant evidence of pre-entry premium, while we find that financing constraints faced by exporting firms are eased once they start exporting, confirming an improvement in the financial conditions of export starters compared to non-exporters.
Journal of Banking and Finance | 2006
Spiros Bougheas; Paul Mizen; Cihan Yalcin
Archive | 2004
Spiros Bougheas; Paul Mizen; Cihan Yalcin
Archive | 2003
Cihan Yalcin; Spiros Bougheas; Paul Mizen
Archive | 2006
Cafer Kaplan; Erdal Ozmen; Cihan Yalcin
Central Bank Review | 2004
Cihan Yalcin; Spiros Bougheas; Paul Mizen
Emerging Markets Finance and Trade | 2012
Pınar Özbay Özlü; Cihan Yalcin
Archive | 2010
Seref Saygili; Cengiz Cihan; Cihan Yalcin; Turknur Hamsici