Photo of David Wessels

David Wessels

Adjunct Associate Professor of Finance

Links: Personal Website

Contact Information

Address: 2422 SH-DH, Philadelphia, PA 19104
Email: wessels@wharton.upenn.edu
Office: (215) 573-9313

Overview

David Wessels is an Adjunct Associate Professor of Finance, and a Director of Executive Education at the Wharton School of the University of Pennsylvania. David teaches courses on corporate valuation, venture capital, and performance management to undergraduates and MBA’s in Philadelphia and San Francisco, and executive audiences globally.

Professor Wessels has been recognized by his students with the school's MBA excellence in teaching award, and has been acknowledged nationally for his research on organizational structure and financial performance. His co-authored book, Valuation: Measuring and Managing the Value of Companies, is accepted as the seminal text for students of corporate valuation and investment banking.

In addition to his teaching on campus, Professor Wessels has served on the executive development and training faculties at Bank of America Merrill Lynch, Coca-Cola, Ericsson, Estee Lauder, Home Depot, Lockheed Martin, McKinsey & Company, Microsoft, Philips, PricewaterhouseCoopers, Siemens, and UPS.

Before joining the Wharton School, David served on finance faculty of the Goizueta Business School at Emory University. Prior to Emory, he was a management consultant with McKinsey & Company and a technology analyst for Boston-based Harbourvest Venture Partners. David holds a PhD in finance from UCLA Anderson School of Management, a BS in economics and a BAS in computer science from the University of Pennsylvania.

Research


Awards And Honors

In The News

Courses

Current

  • FNCE611 - Corporate Finance

    This course serves as an introduction to business finance (corporate financial management and investments) for both non-majors and majors preparing for upper-level course work. The primary objective is to provide the framework, concepts, and tools for analyzing financial decisions based on fundamental principles of modern financial theory. The approach is rigorous and analytical. Topics covered include discounted cash flow techniques; corporate capital budgeting and valuation; investment decisions under uncertainty; capital asset pricing; options; and market efficiency. The course will also analyze corporate financial policy, including capital structure, cost of capital, dividend policy, and related issues. Additional topics will differ according to individual instructors.

    FNCE611751 

    FNCE611752 

  • FNCE614 - Corporate Finance ( Half CU)

    This course serves as an introduction to corporate investments for non-majors. The primary objective is to provide a framework, concepts, and tools for analyzing financial decisions based on fundamental principles of modern financial theory. The approach is rigorous and analytical. Topics covered include discounted cash flow techniques, corporate capital budgeting and valuation, investment decisions under uncertainty, and capital asset pricing. This course will not cover the following topics included in FNCE 611, the full semester Corporate Finance course: market efficiency, corporate financial policy (including capital structure, cost of capital, dividend policy, and related issues), and options. Please Note: This course will not count towards the Finance Major. Format: Primarily lecture. Grading based on problem sets, one or two cases, and a final exam.

    FNCE614751 

    FNCE614752 

  • FNCE750 - Venture Capital and the Finance of Innovation

    This course covers the finance of technological innovation, with a focus on the valuation tools useful in the venture capital industry. These tools include the "venture capital method," comparables analysis, discounted cash flow analysis, contingent-claims analysis, and real options. The primary audience for this course is finance majors interested in careers in venture capital or in R&D-intensive companies in health care or information technology.

    FNCE750001  ( Syllabus

    FNCE750002  ( Syllabus

    FNCE750751 

Previous

  • FNCE250 - Venture Capital and the Finance of Innovation

    This course covers the finance of technological innovation, with a focus on the valuation tools useful in the venture capital industry. These tools include the "venture capital method," comparables analysis, discounted cash flow analysis, contingent-claims analysis. The primary audience for this course is finance majors interested in careers in venture capital or in R&D-intensive companies in health care or information technology.

  • FNCE611 - Corporate Finance

    This course serves as an introduction to business finance (corporate financial management and investments) for both non-majors and majors preparing for upper-level course work. The primary objective is to provide the framework, concepts, and tools for analyzing financial decisions based on fundamental principles of modern financial theory. The approach is rigorous and analytical. Topics covered include discounted cash flow techniques; corporate capital budgeting and valuation; investment decisions under uncertainty; capital asset pricing; options; and market efficiency. The course will also analyze corporate financial policy, including capital structure, cost of capital, dividend policy, and related issues. Additional topics will differ according to individual instructors.

  • FNCE614 - Corporate Finance ( Half CU)

    This course serves as an introduction to corporate investments for non-majors. The primary objective is to provide a framework, concepts, and tools for analyzing financial decisions based on fundamental principles of modern financial theory. The approach is rigorous and analytical. Topics covered include discounted cash flow techniques, corporate capital budgeting and valuation, investment decisions under uncertainty, and capital asset pricing. This course will not cover the following topics included in FNCE 611, the full semester Corporate Finance course: market efficiency, corporate financial policy (including capital structure, cost of capital, dividend policy, and related issues), and options. Please Note: This course will not count towards the Finance Major. Format: Primarily lecture. Grading based on problem sets, one or two cases, and a final exam.

  • FNCE728 - Corporate Valuation

    The focus of this course is on the valuation of companies. Topics discussed include discounted cash flow techniques and valuation using alternative valuation techniques such as price multiples. Emphasis is on developing the required information for valuation from financial statements and other information sources.

  • FNCE750 - Venture Capital and the Finance of Innovation

    This course covers the finance of technological innovation, with a focus on the valuation tools useful in the venture capital industry. These tools include the "venture capital method," comparables analysis, discounted cash flow analysis, contingent-claims analysis, and real options. The primary audience for this course is finance majors interested in careers in venture capital or in R&D-intensive companies in health care or information technology.