Tanseli Savaser

Tanseli Savaser

  • Assistant Professor Finance, Finance
  • Ph.D. in International Economics and Finance, Brandeis University
  • B.A. in Economics, Bogazici University

Teaching Interests

Corporate Finance; International Finance; Financial Economics; Introductory Finance

Research Interests

Financial Economics; Corporate Finance; International Finance; Executive Compensation; Risk-taking; Currency Markets

Bio

Tanseli Savaser’s fields of specialization are financial economics, corporate finance and international finance. Her research examines corporate governance issues, focusing on the relationship between managerial incentives and risk taking. She is also interested in analyzing the impact of the information environment and the trading conditions on investor behavior in financial markets. Prior to joining Bentley, she taught at various institutions including Vassar College, Bilkent University and Williams College. In addition, she was a visiting scholar at the University of Zurich and worked as a research associate at Moody’s Investors Services. She has published her work in leading finance and economics journals, including the Review of Finance, Journal of Banking & Finance, Journal of Corporate Finance and the AEJ: Economic Policy.

Awards and Honors

  • Semi-finalist for the best paper award in Corporate Finance track at the FMA Meetings 2024, Financial Management Association

    • Scholarly Contributions and Creative Productions

    Journal Articles

  • Leblebiciou{g}lu, A., Savac{s}er, T. (2025). The Not So Uniform Effects of Trade Secret Protection on Business Entry. American Economic Journal: Economic Policy
  • Rzayev, K., Savaser, T., Sisli Ciamarra, E. (2025). Dark Trading and Stock-based CEO Pay . Journal of Corporate Finance
  • Ben Omrane, W., Dabbou, H., Saadi, S., Savaser, T., Sebai, S. (2025). Exploring volatility reactions in cryptocurrency markets using intraday macroeconomic news analysis. International Review of Economics & Finance
  • Ben Omrane, W., Dabbou, H., Saadi, S., Savaser, T., Sebai, S. (2025). Exploring volatility reactions in cryptocurrency markets using intraday macroeconomic news analysis. International Review of Economics and Finance, (103) Issue (Link)
  • Ben, O. W., Houidi, F., Savaser, T. (2024). Macroeconomic news and intraday seasonal volatility in the cryptocurrency markets. Applied Economics, (56) 38 4594--4610.
  • Omrane, W. B., Saadi, S., Savaser, T. (2024). Sustainable energy practices and cryptocurrency market behavior. Energy Economics, (139) 107937.
  • Ben Omrane, W., Houidi, F., Savaser, T. (2024). Macroeconomic news and intraday seasonal volatility in the cryptocurrency markets. Applied Economics, (56) Issue 38 (Link)
  • Ben Omrane, W., Saadi, S., Savaser, T. (2024). Sustainable energy practices and cryptocurrency market behavior. Energy Economics, (139) Issue (Link)
  • Savaser, T., Tiniç, M. (2023). Information shocks and the cross section of expected returns. Borsa Istanbul Review, (23) Issue 2 (Link)
  • Osler, C., Savaser, T. (2022). Shrouding and the FX trades of global custody bank. Journal of Banking & Finance, (136) 106414.
  • Tanyeri, B., Savaser, T., Usul, N. (2022). The stock and CDS market consequences of political uncertainty: The Arab Spring. Emerging markets finance and trade, (58) 7 1821--1837.
  • Ongena, S., Savac{s}er, T., Ciamarra, E. c. (2022). CEO incentives and bank risk over the business cycle. Journal of Banking & Finance, (138) 106460.
  • Osler, C., Savaser, T. (2022). Shrouding and the FX trades of global custody bank. Journal of Banking and Finance, (136) Issue (Link)
  • Tanyeri, B., Savaser, T., Usul, N. (2022). The Stock and CDS Market Consequences of Political Uncertainty: The Arab Spring. Emerging Markets Finance and Trade, (58) Issue 7 (Link)
  • Ongena, S., Savaşer, T., Şişli Ciamarra, E. (2022). CEO incentives and bank risk over the business cycle. Journal of Banking and Finance, (138) Issue (Link)
  • Karaman, H. D., Savaser, T., Tinic{c}, M., Tumer-Alkan, G. (2021). Financial technology in developing economies: A note on digital lending in Turkey. Economics Letters, (207) 110012.
  • Karaman, H., Savaser, T., Tiniç, M., Tumer-Alkan, G. (2021). Financial technology in developing economies: A note on digital lending in Turkey. Economics Letters, (207) Issue (Link)
  • Tinic{c}, M., Savaser, T. (2020). Political turmoil and the impact of foreign orders on equity prices. Journal of International Financial Markets, Institutions and Money, (65) 101174.
  • Tiniç, M., Savaser, T. (2020). Political turmoil and the impact of foreign orders on equity prices. Journal of International Financial Markets, Institutions and Money, (65) Issue (Link)
  • Savac{s}er, T., c{S}ic{s}li-Ciamarra, E. (2019). Differential risk-taking implications of performance incentives from stock and stock option holdings. Journal of Financial Research, (42) 3 609--636.
  • Omrane, W. B., Savaser, T., Welch, R., Zhou, X. (2019). Time-varying effects of macroeconomic news on euro-dollar returns. The North American Journal of Economics and Finance, (50) 101001.
  • Ben Omrane, W., Savaser, T., Welch, R., Zhou, X. (2019). Time-varying effects of macroeconomic news on euro-dollar returns. North American Journal of Economics and Finance, (50) Issue (Link)
  • Savaşer, T., Şişli-Ciamarra, E. (2019). DIFFERENTIAL RISK-TAKING IMPLICATIONS OF PERFORMANCE INCENTIVES FROM STOCK AND STOCK OPTION HOLDINGS. Journal of Financial Research, (42) Issue 3 (Link)
  • Omrane, W. B., Savac{s}er, T. (2017). Exchange rate volatility response to macroeconomic news during the global financial crisis. International Review of Financial Analysis, (52) 130--143.
  • Savaser, T., c{S}ic{s}li-Ciamarra, E. (2017). Managerial performance incentives and firm risk during economic expansions and recessions. Review of Finance, (21) 2 911--944.
  • Ben Omrane, W., Savaşer, T. (2017). Exchange rate volatility response to macroeconomic news during the global financial crisis. International Review of Financial Analysis, (52) Issue (Link)
  • Savaser, T., Sisli-Ciamarra, E. (2017). Managerial performance incentives and firm risk during economic expansions and recessions. Review of Finance, (21) Issue 2 (Link)
  • Omrane, W. B., Savac{s}er, T. (2016). The sign switch effect of macroeconomic news in foreign exchange markets. Journal of International Financial Markets, Institutions and Money, (45) 96--114.
  • Ben Omrane, W., Savaşer, T. (2016). The sign switch effect of macroeconomic news in foreign exchange markets. Journal of International Financial Markets, Institutions and Money, (45) Issue (Link)
  • Osler, C., Savaser, T. (2011). Extreme returns: The case of currencies. Journal of banking & finance, (35) 11 2868--2880.
  • Savaser, T. (2011). Exchange rate response to macronews: Through the lens of microstructure. Journal of International Financial Markets, Institutions and Money, (21) 1 107--126.
  • Savaser, T. (2011). Exchange rate response to macronews: Through the lens of microstructure. Journal of International Financial Markets, Institutions and Money, (21) Issue 1 (Link)
  • Osler, C., Savaser, T. (2011). Extreme returns: The case of currencies. Journal of Banking and Finance, (35) Issue 11 (Link)

    • Presentations

  • Savaser, T. (2025). “Dark Trading and Stock-based CEO Pay” Presented at the 14th International Conference of the Financial Engineering and Banking Society Montpellier, Franc
  • Savaser, T. (2025). “Dark Trading and Stock-based CEO Pay” Presented at the MRS International Risk Conference Boston
  • SAVASER, T. (2024). “The Not So Uniform Effect of Trade Secret Protection on Business Entry” Presented at the Eastern Finance Association Eastern Finance Association Meeting St. Petersburg, FL
  • SAVASER, T. (2024). “Diving into the Dark Pool: How Shadows Shape Compensation Packages for the Suits Upstairs” Presented at the Financial Management Association FMA Meeting Grapevine, TX
  • SAVASER, T. (2024). “Diving into the Dark Pool: How Shadows Shape Compensation Packages for the Suits Upstairs” Presented at the Rimini Centre for Economic Analysis RCEA International Conference in Economics, Econometrics and Finance London, UK
  • SAVASER, T. (2023). “The Not So Uniform Effect of Trade Secret Protection on Business Entry” Presented at the American Law and Economics Assoc. American Law and Economics Meeting Boston, MA
  • SAVASER, T. (2023). “The Not So Uniform Effect of Trade Secret Protection on Business Entry” Presented at the Eastern Economic Association Eastern Economic Association Meeting NYC
  • SAVASER, T. (2023). “The Not So Uniform Effect of Trade Secret Protection on Business Entry” Presented at the Midwest Macroeconomics Meeting Clemson, SC
  • SAVASER, T. (2023). “Sustainable Energy Practices and Cryptocurrency Market Behavior” Presented at the Sustainability, Environment, and Social Transition in Economics and Finance Conference Southampton, UK
  • SAVASER, T. (2022). “Market Power in Product and Labor Markets and Average Stock Returns” Presented at the American Economic Assoc. AEA Meeting Virtual
  • SAVASER, T. (2022). “The Not So Uniform Effect of Trade Secret Protection on Business Entry” Presented at the Liberal Arts Macro Conference Middlebury, VT
  • SAVASER, T. (2022). “Academic Perspectives on Trading, Liquidity and Market Structure” Presented at the Baruch College, Zicklin School of Business Trading, Liquidity and Market Structure Conference NYC
  • SAVASER, T. (2021). “CEO Incentives and Bank Risk over the Business Cycle” Presented at the University of Richmond Liberal Arts Macro Conference Virtual
  • SAVASER, T. (2019). “CEO Incentives and Bank Risk over the Business Cycle” Presented at the Columbia University Annual CEBRA Meeting, Columbia University NYC
  • SAVASER, T. (2019). “CEO Incentives and Bank Risk over the Business Cycle” Presented at the Financial Engineering and Banking Society Conference Prague, Czech Republic
  • SAVASER, T. (2019). “CEO Incentives and Bank Risk over the Business Cycle” Presented at the Irish Finance Association Irish Finance Association Conference Cork, Ireland