Photo of Bulent Gultekin

Bulent Gultekin

Associate Professor of Finance

Research Interests: corporate finance and capital markets, financial development, privatization

Contact Information

Address: 2344 Steinberg-Dietrich Hall, 3620 Locust Walk, Philadelphia, PA 19104
Email: gultekin@wharton.upenn.edu
Office: (215) 898-4505

Overview

Education

PhD, University of Pennsylvania, 1976; AM, University of Pennsylvania, 1975; MA, Bogazici University, 1974; BSc, Robert College, 1969

Recent Consulting

Senior privatization adviser to several governments and organizations on issues of privatization and economic reform. Governments include Ukraine, Kazakhstan, Uzbekistan, Poland, Indonesia, Turkemenistan, and Turkey; organizations range from The World Bank and European Bank to the United Nations Development Program to the United States Agency for International Development as well as major international corporations

Career and Recent Professional Awards; Teaching Awards

WEMBA Program Teaching Award, 2003

Academic Positions Held

Wharton: 1981-present (Director, Emerging Economies Program, 1992-93; Co-Director, Weiss Center for International Financial Research, Wharton, 1990-93). Previous appointment: Dartmouth College. Visiting appointments: University of Chicago; Koc University, Istanbul, Turkey

Other Positions

Governor, Central Bank of the Republic of Turkey, 1993; Chief Adviser, to the Ministry of Privatization, Poland, 1990-91, to the Prime Minister of Turkey, 1987-89, 1991; President, Housing Development and Public Participation Administration, Turkey, 1987-89; Director General for Research, Central Bank of the Republic of Turkey, 1986-87

Corporate and Public Sector Leadership 2005-2009

Trustee, Koc University Istanbul, Turkey, 1991-present; Chairman of the Board of Directors, Sumerbank, Turkey; Trustee, American University in Bulgaria, 1995-present; Foundation for Privatization and Ownership Changes, Poland, 1990-present

Research


In The News

Knowledge @ Wharton

Courses

Current

  • FNCE751 - The Finance of Buyouts and Acquisitions

    The focus of this course is on buying (or acquiring controlling stakes in) firms. The main topics to be covered are mergers and friendly acquisitions, hostile takeovers and buyouts. Using case studies, the course surveys the drivers of success in the transactions. While issues regarding motive and strategy will be discussed, financial theory would be the main lens used to view these control acquiring transactions. This will allow students to (1) evaluate transactions through valuation approaches and (2) structure deals employing financial innovation as a response to legal framework and economic frictions. This course should be of interest to students interested in pursuing careers as private equity investors, advisors in investment banking and corporate managers that deal with these issues. This course assumes familiarity with valuation analysis. During the spring semester students are not permitted to take this course pass fail.

    FNCE751751  ( Syllabus

  • FNCE897 - FNCE in Mid East & N Afr

    This is a Wharton Global Modular Course on finance in the Middle East and North Africa. Its objective is to bring students, academics and industry experts together to study financial markets, practice, and institutions in this region.

    FNCE397401 

    FNCE897401 

Previous

  • FNCE396 - Finance in Europe

    This is a short seminar on finance in Europe. Its objective is to bring students, academics and several industry experts together to study financial markets, practice, and institutions in Europe. Course Content: The course will primarily examine following areas: 1.Current challenges in European markets and Euro zone 2.Political economy of European Union 3.Alternative Investments 4.Investment Banking & Cross Border Mergers and Acquisitions We will cover the above topics by studying practice and transactions in Europe with a comparison to USA and rest of the world. This is a half unit course and it is designed for Wharton MBAs. Exceptionally motivated undergraduate students are also welcome to take the course.

  • FNCE397 - FNCE in Mid East & N Afr

    This is a Wharton Global Modular Course on finance in the Middle East and North Africa. Its objective is to bring students, academics and industry experts together to study financial markets, practice, and institutions in this region.

  • FNCE399 - Supervised Study in Finance

    Integrates the work of the various courses and familiarizes the student with the tools and techniques of research.

  • FNCE726 - Advanced Corporate Finance

    The objective of this course is to study the major decision-making areas of managerial finance and some selected topics in financial theory. The course reviews the theory and empirical evidence related to the investment and financing policies of the firm and attempts to develop decision-making ability in these areas. This course serves as an extension of FNCE 611. Some areas of financial management not covered in FNCE 611 are covered in FNCE 726. These may include leasing, mergers and acquisitions, corporate reorganizations, financial planning, and working capital management, and some other selected topics. Other areas that are covered in FNCE 611 are covered more in depth and more rigorously in FNCE 726. These include investment decision making under uncertainty, cost of capital, capital structure, pricing of selected financial instruments and corporate liabilities, and dividend policy.

  • FNCE751 - The Finance of Buyouts and Acquisitions

    The focus of this course is on buying (or acquiring controlling stakes in) firms. The main topics to be covered are mergers and friendly acquisitions, hostile takeovers and buyouts. Using case studies, the course surveys the drivers of success in the transactions. While issues regarding motive and strategy will be discussed, financial theory would be the main lens used to view these control acquiring transactions. This will allow students to (1) evaluate transactions through valuation approaches and (2) structure deals employing financial innovation as a response to legal framework and economic frictions. This course should be of interest to students interested in pursuing careers as private equity investors, advisors in investment banking and corporate managers that deal with these issues. This course assumes familiarity with valuation analysis. During the spring semester students are not permitted to take this course pass fail.

  • FNCE895 - PRIVATE EQUITY

    The course will be a survey of the private equity asset class. Its objective is to provide an understanding of the concepts, agents, and institutions involved in the late stage corporate private equity market in the U.S. and around the globe. It will examine the buyout market and the activities of buyout funds from the differing perspectives of private equity investors, private equity fund sponsors, and managers of the portfolio companies. The course will be taught almost entirely with cases. Distinguished Wharton alumni in the private equity industry will be our guest speakers for many of the cases based on transactions they concluded. PLEASE NOTE: While this course is primarily intended for graduate students, admission may be granted to a limited number of interested undergraduate students. Be aware that this course may be recorded for live or subsequent distribution, display, broadcast, or commercialization in any media, including video, audio, or electronic media. For additional information, see the course syllabus or contact the department.

  • FNCE897 - FINANCE IN THE MIDDLE EAST & NORTH AFRICA

    This is a Wharton Global Modular Course on finance in the Middle East and North Africa. Its objective is to bring students, academics and industry experts together to study financial markets, practice, and institutions in this region.