The winners of the Hakan Orbay Research Awards given by the Sabancı University School of Management in honor of faculty member Hakan Orbay who passed away in 2011 were chosen. The award is designed to support young researchers of finance and microeconomics in creating original work. This year's first prize went to Naveen Jindal School of Management, University of Texas at Dallas faculty Ümit Gürkan Gürün with his paper “Resident Networks and Firm Trade.”
Mehmet İhsan Canayaz from Saïd Business School, University of Oxford came second with “Is the revolving door of Washington a back door to excess corporate returns?” and Koç University faculty Cem Demiroğlu came third with “Indicators of Collateral Misreporting.”
This year's jury panel consisted of Istanbul Bilgi University Faculty Member Zeki Orbay, Sabancı University Faculty of Arts and Social Sciences members Eren İnci and İzak Atiyas, Sabancı University School of Management faculty member Koray Deniz Şimşek, Aziz Şimşir, Yiğit Atılgan, Melsa Ararat and Nakiye Boyacıgiller.
Winners will receive their prizes at an award ceremony to be held by the faculty in December.
About Hakan Orbay
Hakan Orbay finished the Ankara High School of Science in 1979 and received a bachelor's degree in Electrical Engineering and Physics from Boğaziçi University between 1979 and 1983. He completed a master's in Electrical Engineering at the University of Calgary in 1986, after which he returned to Turkey and worked in information technologies in the banking sector from 1988 to 1991. Having never lost his interest in academic studies, Orbay went back to the US in 1991 for a PhD in Economics in the Stanford University Graduate School of Business, which he completed in 1995. Orbay was a member of Koç University faculty from 1996 to 1999, when he joined Sabancı University as one of the founding faculty members. He continued his endeavors in the School of Management until his passing in 2011.