Affiliated researchers

Mehmet Caglar Kaya

Ph.D. student

Some questions that Mehmet Caglar Kaya tries to answer in his research:​

  • How do small businesses grow? Which path are they choosing: organic growth or acquisition & mergers?
  • What are the mechanisms of interconnectedness between the stock market and the credit default swap market?
  • What are the effects of firms’ capital structure choices on their credit risk? Does debt composition influence credit default swap spreads?
  • What are the implications of internal capital markets on corporate capital structure?
  • Should small businesses rely on more bank financing or other alternatives?



New research

A Theory of Gazelle Growth: Competition, Venture Capital Finance and Policy Mehmet Caglar Kaya and Lars Persson

Mehmet Caglar Kaya


Mob : +46 73 870 7327


Mehmet Caglar Kaya is a Ph.D. candidate in Economics at Lund University. He holds three Master’s degrees in International Finance from Istanbul Bilgi University, International Management from the University of Bologna, and Finance from Lund University. Before his graduate studies, Caglar had worked in the audit (PricewaterhouseCoopers) and banking sectors (HSBC and AKBANK Inc.) as a credit & risk analyst for five years.

Leading Research Environment

IFN at the top


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The Research Institute of Industrial Economics, IFN, is a private and independent foundation devoted to pursuing highly relevant research for trade and industry.

The researchers at IFN are united in their belief that economic methods offer a powerful tool for understanding society.

The main research programs are:

  1. economics of entrepreneurship
  2. globalization and corporate restructuring
  3. economics of the service sector
  4. economics of the electricity markets
  5. economics of institutions and culture.

Global Award

Research on entrepreneurship




The Global Award for Entrepreneurship Research is the foremost global award for research on entrepreneurship.This Prize is awarded annually with a prize sum of EUR 100,000.

IFN in cooperation with Entreprenörskapsforum and Vinnova are the principals of the award, in cooperation with the donor, Lars Backsell.

Professor Boyan Jovanovic, New York University, is the winner of the Global Award for Entrepreneurship Research 2019. 

Research Institute of Industrial Economics, Grevgatan 34 - 2 fl, Box 55665, SE-102 15 Stockholm, Sweden | Phone: +46-(0)8-665 45 00 |