Bangor Business School

Professor Yener Altunbaş

Division: Financial Studies

Location: Room 0.04, Hen Goleg

Telephone: 01248 38 2191

Email: y.altunbas@bangor.ac.uk

Profile

Professor of Economics

Yener Altunbaş is a Professor of Economics at the Bangor Business School. He holds a B.Sc. (Economics) degree from the University of Hacettepe, Ankara and a PhD from the University of Wales, Bangor. He worked first as an analyst with Ziraat and then as an economist in Etibank Banking Inc. in Turkey and as a Research Officer within the Institute of European Finance in the UK. Yener Altunbaş was employed as a Research Fellow with the Business School at South Bank University, London and as a Research Associate at the Centre of Business Research in the University of Cambridge. He acts as a consultant for the European Central Bank (ECB) where he has also held a position as a visiting researcher. Professor Altunbaş also holds a guest lectureship at the University of Lecce and at the University of LUM, Jean Monnet in Bari, Italy. He is currently collaborating in several research projects with other colleagues at the Bank for International Settlements (BIS), the European Central Bank (ECB), Bank of Italy, Bank of Spain and the Bank of England. Author of many articles on the structure and efficiency of banking markets, his main fields of research interest include: microeconomics of banks, finance, stock market analysis, corporate governance, electoral studies and regional economics. Recent research has also been concerned with marine biology.

Roles within Bangor Business School

Taught modules: Bank Financial Management, Mergers and Acquisitions (Post-graduate level)
College representative within the University IT committee

Research Interests

European banks, stock market analysis, corporate governance, electoral studies, regional economics and urban economics, and marine biology.

Publications

  • “Does Monetary Policy Affect Bank Risk?”, The International Journal of Central Banking, (forthcoming) (with L. Gambacorta and D. Marqués-Ibanez)
  • “Knowledge spillovers and the growth of British cities”, Applied Economics Letters, (2013) Vol. 20(2), pp.162-166, (with E Jones and J Thornton)
  • “Spoilt and Lazy: The Impact of State Support on Bank Behavior in the International Loan Market”, The International Journal of Central Banking, (2012) Vol. 8(4), pp.121-173, (with B. Gadanecz .and K. Tsatsaronis)
  • “Do bank characteristics influence the effect of monetary policy on bank risk?”, Economics Letters, (2012), Vol. 117(1), pp.220–222, (with L Gambacorta and D Marqués-Ibanez)
  • “Does financial development reduce corruption?”, Economics Letters, (2012), Vol. 114(2), pp. 221–223 (with J. Thornton)
  • “Do bank characteristics influence the effect of monetary policy on bank risk?”, ECB Working Paper No. 1427, (2012), (with L Gambacorta and D Marqués-Ibanez)
  • “Fiscal Decentralization and Governance”, Public Finance Review, (2012), Vol. 40(1), pp.66-85, (with J. Thornton)
  • “Bank risk during the financial crisis: do business models matter?”, European Central Bank Working Paper, No. 1394, (2011), (with S. Manganelli and D. Marqués-Ibanez)
  • “Does Paying Taxes Improve the Quality of Governance? Cross‐Country Evidence”, Poverty and Public Policy, (2011), Vol. 3(3), pp.1-17 (with J. Thornton) Available at:
    http://www.psocommons.org/ppp/vol3/iss3/art9
  • “The rationale behind Informal Finance: Evidence from Roscas in Bolivia”, Journal of Developing Areas, (2011), Vol. 45(1), pp. 191-208, (with S. Donoso, and A. Kara)
  • “Why do banks join loan syndications? The case of participant banks”, The Service Industries Journal, (2011), Vol. 31(7), pp.1063-1074. (with A. Kara)
  • “Are Home Grown Islamic Terrorist Different? Some UK evidence”, Southern Economic Journal, (2011), Vol. 78(2), pp. 262-272, (with J. Thornton)
  • “The causality between energy consumption and economic growth in United Kingdom”, Economic Research, (2011), Vol. 24(2), pp.330–335, (with A. Kapusuzoglu)
  • “Does Monetary Policy Affect Bank Risk-Taking?”, European Central Bank Working Paper No.1166; BIS Working Papers No. 298, (2010); (with L. Gambacorta and D. Marqués-Ibanez) Available at SSRN: http://ssrn.com/abstract=1572798
  • “Bank risk and monetary policy”, Journal of Financial Stability, (2010), Vol. 6(3), pp. 121-129, (with L. Gambacorta and D. Marqués-Ibanez)
  • “Large Debt Financing: Syndicated Loans versus Corporate Bonds”, The European Journal of Finance, (2010), Vol. 16 (5), pp. 437 – 458 (with A. Kara and D. Marqués-Ibanez)
  • “Securitisation and the bank lending channel”, European Economic Review, (2009), Vol. 53, pp.996–1009 (with L. Gambacorta and D. Marqués-Ibanez)
  • “Bank risk and monetary policy”, European Central Bank Working Paper 1075 and Bank of Italy Working Paper 712, (2009), (with L. Gambacorta and D. Marqués-Ibanez)
  • “Large debt financing: syndicated loans versus corporate bonds”, European Central Bank Working Paper 1028, (2009) (with A. Kara and D. Marqués-Ibanez)
  • “Mergers and acquisitions and bank performance in Europe: the role of strategic similarities”, Journal of Economics and Business, (2008), Vol.60(3), pp.179-290, (with D. Marqués-Ibanez)
  • “Mean reversion of profitability: evidence from the European-listed firms”, Managerial Finance, (2008), Vol. 34 (11), 799-815, (with A. Karagiannis, M.H. Liu and A. Tourani-Rad)
  • “Securitisation and the bank lending channel”, Federal Reserve Bank of Chicago, Papers and proceedings, Issue May, (2008), pp. 421-443, (with L. Gambacorta and D. Marqués-Ibanez)
  • “Securitisation and the bank lending channel”, European Central Bank Working Paper 838 and Bank of Italy Working Paper 653, November 2007, (with L. Gambacorta and D. Marqués-Ibanez)
  • “Corporate Finance in the Euro Area - Including Background Material”, European Central Bank Occasional Paper Series No. 63, (2007), (with F. Drudi et al.) http://ssrn.com/abstract_id=977354
  • “Corporate governance and corporate ownership: The investment behaviour of Japanese institutional investors”, Banco de España Occasional Papers No. 0703, Madrid, May 2007, (with A. Kara and A. van Rixtel)
  • “Who transfers credit risk? Determinants of the use of credit derivatives by large US banks”, European Journal of Finance, (2007), Vol. 13(5), pp. 483-500, (with D. Ashraf and J. Godard)
  • “Examining the Relationships between Capital, Risk and Efficiency in European Banking”, European Financial Management, (2007), Vol. 13 (1), pp.49-70, (with S. Carbo, E.P.M. Gardener, and P. Molyneux)
  • “Do credit markets have faith in IMF imprimatur?”, The Journal of World Economic Review, (2006) , Vol. 1(2), 221-239 , (with S.P. Chakravarty and A. Kara)
  • “The Evolution of Syndicated Loan Markets’, The Service Industries Journal, (2006) ,Vol. 26(6), 689-707, (with B. Gadanecz, A. Kara)
  • “Factors controlling the temporal dynamics of egg production of the copepod Temora longicornis”, Marine Ecology Progress Series, (2006), Vol. 388, 143-153, (with C. Castellani)
  • “Key factors affecting internationally active banks' decisions to participate in loan syndications”, Applied Economics Letter, (2005), Vol. 12(4), pp.249-253, (with B. Gadanecz, and A. Kara)
  • “Mergers and acquisitions and bank performance in Europe: the role of strategic similarities” October 2004, European Central Bank Working Paper No. 398, (with and D. Marques-Ibanez)
  • “Bank capital, bank lending, and monetary policy in the euro area”, Kredit und Kapital, (2004), Vol. 37(4), 443-464, (with G. de Bondt and D. Marques-Ibanez)
  • “Developing Country Economic Structure and the Pricing of Syndicated Credits”, The Journal of Development Studies, (2004), Vol. 40, No. 5, 143-173, (with B. Gadanecz)
  • “Developing Country Economic Structure and the Pricing of Syndicated Credits”, BIS Working Paper No. 132, (2003), (with B. Gadanecz)
  • “A note on the electoral rules for the Welsh Assembly”, Public Choice, (2002), Vol. 111, 185-193, (with S.P. Chakravarty and F. Steffen)
  • “Evidence on the Bank-lending Channel in Europe”, Journal of Banking and Finance, (2002), Vol. 26(10), 2093-2110, ISSN 0378-4266, (with O. Fazylov and P. Molyneux)
  • “Efficiency in European banking”, European Economic Review, (2001), Vol. 45(10), December, 1931-1955, (with E.P.M. Gardener, P. Molyneux and B. Moore)
  • “Bank Ownership and efficiency”, Journal of Money, Credit and Banking, (2001), Vol. 33(4), November, 926-954, (with L. Evans, and P. Molyneux)
  • “Frontier cost functions and bank efficiency”, Economics Letters, (2001), 72(2), 233-240, (with S.P. Chakravarty)
  • “Efficiency and risk in Japanese banking”, Journal of Banking and Finance, (2000), 24, 1605-1628, (with M.H. Liu, P. Molyneux and R. Seth)
  • “The Impact of CAR on Bank Capital Augmentation in Spain”, Applied Financial Economics, (2000), 10(5), 507-518, (with S. Carbo and E.P.M. Gardener)
  • “Proportional representation in the Welsh Assembly”, Public Choice, (2000), 103, 85-94, (with S.P. Chakravarty)
  • “Technical change in banking”, Economic Letters, (1999), 64, 215-221, (with J. Goddard and P. Molyneux)
  • “Efficiency measures and the banking structure in Europe’, Economics Letters, (1998), 60, 205-208, (with S.P. Chakravarty)
  • “Big-Bank Mergers in Europe: An Analysis of the Cost Implications”, Economica, (1997), 64, 317-329, (with P. Molyneux and J. Thornton)
  • “Bankacilik sisteminde riskler ve gelecekteki risk beklentileri”, Hazine Dergisi (The Treasury Journal), (1997), 5 (January), 1-25, (with A. Sarisu)
  • “Türk Bankacilik sisteminde kamu bankalarinin özellestirme geregi”, (The privatisation in the Turkish banking system), Hazine Dergisi (The Treasury Journal), (1997), 4 (July), 1-27, (with M.Z. Akillioglu and A. Canga)
  • “The impact of universal banking in the risks and returns of Japanese financial institutions”, Pacific-Basin Finance Journal, (1996), 4, Issue 1- 2, 181-195, (B.S. Chong and M.H. Liu). Received Award: The paper won the Chicago Board Options Exchange/PACAP Competitive Research Award.
  • “Economies of scale and scope in European banking”, Applied Financial Economics, (1996), Vol. 6, 367-375, (with P. Molyneux)
  • “A comparative analysis of scope and scale economies in European banking”, Journal of Economics and Business, (1996), 48, 217-230, (with P. Molyneux)
  • “The cost implications of hypothetical bank mergers in Italy”, Economia Internazionale, (1996), Vol. XLIX, No. 1, 1-18, (with P. Molyneux and J. Thornton)

Books

  • Turkish Banking: Banking under High Political Instability and Chronic High Inflation, Palgrave Macmillan, New York, 2009, 218 pp. (with A. Kara and O. Olgu)
  • Syndicated Loans: A Hybrid of Relationship Lending and Publicly Traded Debt, Palgrave Macmillan Studies in Banking and Financial Institutions Series: London, 2006, 255pp. (with B. Gadanecz and A. Kara)
  • Efficiency in European Banking, John Wiley & Sons: London, 1996, 340pp. (with P. Molyneux and E.P.M. Gardener)

Teaching

Postgraduate Teaching:

  • Bank Financial Management (ASB-4402/ASB-4802)
  • Mergers and Acquisitions (ASB-4437)
  • Supervision of PhD students

Activities

Visiting appointments:

European Central Bank, Frankfurt.

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