Department of Accounting

Caglar Kaya is a post-doctoral researcher at the Center of Corporate Governance. He holds a Ph.D. degree in Financial Economics from Lund University. His doctoral dissertation focused on Corporate Growth and Corporate Credit Risk. During his Ph.D. studies, Caglar was a visiting scholar for two years in the Finance Department of the University of Illinois at Urbana-Champaign. Caglar also holds master’s degrees in International Finance (specialized in Banking & Accounting) from Istanbul Bilgi University, International Management from the University of Bologna, and Finance from Lund University. Before his academic career, Caglar had gained industry experience in audit and banking for five years in multinational financial companies. His research fields are corporate governance, corporate finance, banking, and industrial organization.

Caglar is currently working on the project of Enterprise Foundations focusing on the board governance, stakeholders’ relationship (i.e., relationship with suppliers), and credit risk of this special ownership structure (foundation owned firms) in comparison to other conventional ownership types (i.e., publicly owned firms or family-owned firms). He investigates the implications of the enterprise foundation model on governance, firm’s financing decision, firm survival, and credit risk. Caglar also continues his research in capital structure and trade credit finance in the corporate finance field. He researches the effects of internal capital markets in Swedish corporate groups and the role of collateral on the firms’ financing decisions. On his agenda, Caglar will work on a project focusing on relationship banking within the setting of cooperative banks.