Prof. Dr. Orcun Kaya
Prof. Dr. Orcun Kaya
ZHAW
School of Management and Law
Gertrudstrasse 8
8400 Winterthur
Work at ZHAW
Position
Professor of Financial Management
Focus
Financial Management, Corporate Finance
Teaching
- Corporate Finance
- Risk Management
- Doing Business in Asia
Experience
- Senior Economist
Deutsche Bank
01 / 2017 - 03 / 2020 - Economist
Deutsche Bank
10 / 2012 - 12 / 2016 - Program Manager and Research Assistant
Goethe University
05 / 2008 - 10 / 2012
Education and Continuing education
Education
Ph.D. in Economics / Dissertation: Essays on Household Finance and Sovereign Debt
Goethe University Frankfurt
09 / 2007 - 12 / 2012
Network
Membership of networks
Euram
ORCID digital identifier
Projects
- Fostering an Ecosystem for Small and Midcap IPOs in Switzerland / Team member / laufend
- Next level liquidity risk management in banking / Project leader / laufend
- Novel Metrics to measure the Contribution of Plastic-to-Oil Recycling / Team member / abgeschlossen
- KMU ZH Monitor 2023: conditions, challenges, and trends among Zurich SMEs / Team member / abgeschlossen
- Tech4SDG – Guiding Swiss Asset Managers towards High-Impact SMEs / Deputy project leader / abgeschlossen
- Nowcasting SME Insolvency Risk / Project leader / abgeschlossen
- Zero Carbon Footprint / ESG for the Asset Management Industry / Project leader / abgeschlossen
- Enabling investment analysis in the Swiss Para-Banking Sector / Co-project leader / abgeschlossen
- Analyst Indexing Platform Service / Co-project leader / abgeschlossen
- Feeder Structure for the Swiss Social Exchange / Co-project leader / abgeschlossen
Publications
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Kaya, Orcun; Orpiszewski, Tomasz,
2025.
Determinants of impact investments : evidence from portfolio-level data.
Journal of Sustainable Finance and Accounting.
6(100018).
Available from: https://doi.org/10.1016/j.josfa.2025.100018
-
Kaya, Orcun,
2024.
Economic Modelling.
141(106896).
Available from: https://doi.org/10.1016/j.econmod.2024.106896
-
Kaya, Orcun; Demirel, Mustafa,
2024.
The nexus between inflation and financial integration in the euro area.
Applied Economics Letters.
Available from: https://doi.org/10.1080/13504851.2024.2333457
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Kaya, Orcun,
2022.
Determinants and consequences of SME insolvency risk during the pandemic.
Economic Modelling.
115(105958).
Available from: https://doi.org/10.1016/j.econmod.2022.105958
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Kaya, Orcun; Mostowfi, Mehdi,
2021.
Low-volatility strategies for highly liquid cryptocurrencies.
Finance Research Letters.
46(102422).
Available from: https://doi.org/10.1016/j.frl.2021.102422
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Kaya, Orcun,
2017.
CDS spreads in the aftermath of central clearing.
International Journal of Financial Markets and Derivatives.
6(2), pp. 75-101.
Available from: https://doi.org/10.1504/IJFMD.2017.087958
-
Kaya, Orcun,
2021.
Insolvency risk of European SMEs during pandemic [paper].
In:
21st EURAM Annual Conference, Montréal, Canada (online), 16-18 June 2021.
-
Chardonnens, Patrick; Danko, Fabian; Streichenberg, Urs; Camenisch, Jan; Schweizer, Andreas; Kaya, Orcun,
2023.
Zürcher Kantonalbank.
Available from: https://www.zkb.ch/media/zkb/dokumente/publikationen/kmu-zh-monitor-2023.pdf
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Schweizer, Andreas; Danko, Fabian; Streichenberg, Urs; Hüfner, Annika; Kaya, Orcun; Affolter, Beat; Bittel, Andreas; Camenisch, Jan,
2022.
Zürcher Kantonalbank.
Available from: https://www.zkb.ch/media/zkb/dokumente/publikationen/kmu-zh-monitor-2022.pdf
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Kaya, Orcun,
2021.
Insolvency risk of European SMEs [poster].
In:
Qatar Centre for Global Banking and Finance Annual Conference 2021 : Challenges Facing Central Banks in the 2020s, Online, 17-18 May 2021.
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Kaya, Orcun,
2021.
Insolvency risk of European SMEs during pandemic [paper].
In:
37th International Conference of the French Finance Association (AFFI), online, 26-28 May 2021.
-
Kaya, Orcun,
2021.
Insolvency risk of European SMEs during pandemic [paper].
In:
5th Entrepreneurial Finance (ENTFIN) Association Annual Meeting, virtual, 25-26 June 2021.
-
Kaya, Orcun,
2021.
Insolvency risk of European SMEs during pandemic [paper].
In:
European Economics and Finance Society Annual Conference, online, 23-25 June 2021.
-
Schweizer, Andreas; Affolter, Beat; Danko, Fabian; Hüfner, Annika; Kaya, Orcun; Streichenberg, Urs,
2021.
Zürcher Kantonalbank.
Available from: https://www.zkb.ch/media/dokumente/publikationen/kmu-zh-monitor-2021.pdf
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Kaya, Orcun,
2020.
Financial resilience of German households to Corona triggered income shock.
SUERF Policy Briefs.
(17).
Available from: https://www.suerf.org/publications/suerf-policy-notes-and-briefs/financial-resilience-of-german-households-to-corona-triggered-income-shock/
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Kaya, Orcun; Mai, Heike,
2020.
Cost of negative interest rates to German households.
Deutsche Bank Research.
Available from: https://www.dbresearch.com/PROD/RPS_EN-PROD/PROD0000000000506314/Cost_of_negative_interest_rates_to_German_househol.pdf
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Kaya, Orcun; von Martens, Tobias,
2020.
German robo-advisors : march of the machines driving passive investments.
Deutsche Bank Research.
Available from: https://www.dbresearch.com/PROD/RPS_EN-PROD/PROD0000000000505172/German_robo-advisors%A3_March_of_the_machines_drivin.pdf
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Kaya, Orcun,
2020.
Kunden- und prozessorientierte Lösungen : wo Banken bereits KI nutzen
.
In:
Künstliche Intelligenz für Kreditinstitute : Anwendungsbeispiele und Methoden.
Köln:
Bank-Verlag.
pp. 33-44.
-
Kaya, Orcun; Meyer, Julia,
2024.
Determinants of late payments.
In:
5th Annual Business Administration Conference: Current Issues in Business Management, Istanbul, Turkey, 24-25 October 2024.
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Kaya, Orcun,
2022.
Late payments to SMEs : a factor that affects their access to finance.
In:
22nd EURAM Annual Conference, Winterthur, Switzerland, 15-17 June 2022.
-
Kaya, Orcun,
2022.
Late payments to SMEs : a factor that affects their access to finance.
In:
European Financial Management Association Annual Meeting, Rome, Italy, 29 June - 2 July 2022.
-
Thompson, Mark James; Orpiszewski, Tomasz; Laube, Patrick; Kaya, Orcun,
2022.
TECH4SDG : guiding Swiss asset managers towards high-impact SMEs.
In:
SSF/ZHAW Novel Data Solutions: Big Data and AI for Sustainable Investing - from Biodiversity Risks to Sustainable Gold, Zurich, Switzerland, 2 November 2022.
Publications before appointment at the ZHAW
- Is perceived financial inadequacy persistent?,Review of Income and Wealth, 2014, Vol. 60, pp. 636-654
- Impacts of the Financial Crisis on Eurozone Sovereign CDS Spreads, Journal of International Money and Finance, 2014, Vol. 49, pp. 425-442
- The Role of Bank Lending Tightening on Corporate Bond Issuance in the Eurozone, Quarterly Review of Economics and Finance, 2016, vol 60, pp.1-11
- SME Financing and Securitization: Firm-level Evidence from the Euro Area, Economic Inquiry, 2019, vol 57, pp 391-409
Other publications
- Artificial intelligence in banking: A lever for profitability with limited implementation to date
- Brexit impact on investment banking in Europe
- Economic policy uncertainty in Europe: Detrimental to capital markets and bank lending
- Time to fully recognise the potential of digital start-ups
- Robo-advice – a true innovation in asset management
- Synthetic securitisation: Making a silent comeback
- Start-ups and their financing in Europe: Out of the woods with Capital Markets Union
- High-frequency trading: Reaching the limits
- Capital Markets Union: An ambitious goal, but few quick wins
- Liquidity is key for the central clearing of derivatives
- SME financing in the euro area: New solutions to an old problem
- Tight bank lending, lush bond market: New trends in European corporate bond issuance
- Reforming OTC derivatives markets: Observable changes and open issues
- Corporate bond issuance in Europe: Where do we stand and where are we heading?