Burcu Esmer

Burcu Esmer
  • Visiting Faculty

Contact Information

  • office Address:

    2455 Steinberg-Dietrich Hall
    3620 Locust Walk
    Wharton School
    University of Pennsylvania
    Philadelphia, PA 19104

Research Interests: Empirical corporate finance: agency conflicts, and their impact on corporate policies

Links: Personal Website

Teaching

Current Courses

  • FNCE384 - Advanced Topics In Pe

    This course will address a variety of applied topics in private equity (PE), with a focus on growth and later-stage buyout transactions (venture capital is not explicitly addressed in this course), and a primarily U.S.-centric view that should be largely applicable in other markets. In addition, the course will focus on the transaction stage of PE investing i.e., the art of the deal and mostly leave aside deal sourcing, portfolio management and investor relations. The goal of this course is to educate students about the substance, process and mechanics of PE investing, through the lens of the investment professionals, counterparties and advisors that drive transactions to completion. Course topics will address the entire deal process, and will include the following: Commercial Diligence (incl. financial modeling); Debt Financing; Accounting Diligence; Sales & Purchase Agreements; Comps Analysis; and Other Advisory Work. Throughout the course, students will learn about each element of the deal process through in-class lectures, while concurrently apply those learnings to a real-time mock deal, and preparing dealmaterials that mirror a real private equity transaction. The in-class lectures will cover both conceptual frameworks and real-world examples.

    FNCE384001

Past Courses

  • FNCE251 - FNCE OF BUYOUTS & ACQS

    The course focuses on financial tools, techniques, and best practices used in buyouts (financial buyers) and acquisitions (strategic buyers). While it will touch upon various strategic, organizational, and general management issues, the main lens for studying these transactions will be a financial one. It will explore how different buyers approach the process of finding, evaluating, and analyzing opportunities in the corporate-control market; how they structure deals and how deal structure affects both value creation and value division; how they add value after transaction completion; and how they realize their ultimate objectives (such as enhanced market position or a profitable exit). The course is divided into two broad modules. The first module covers mergers and acquisitions, and the second one studies buyouts by private equity partnerships. During the spring semester this course cannot be taken pass/fail.

  • FNCE384 - ADVANCED TOPICS IN PE

    This course will address a variety of applied topics in private equity (PE), with a focus on growth and later-stage buyout transactions (venture capital is not explicitly addressed in this course), and a primarily U.S.-centric view that should be largely applicable in other markets. In addition, the course will focus on the transaction stage of PE investing i.e., the art of the deal and mostly leave aside deal sourcing, portfolio management and investor relations. The goal of this course is to educate students about the substance, process and mechanics of PE investing, through the lens of the investment professionals, counterparties and advisors that drive transactions to completion. Course topics will address the entire deal process, and will include the following: Commercial Diligence (incl. financial modeling); Debt Financing; Accounting Diligence; Sales & Purchase Agreements; Comps Analysis; and Other Advisory Work. Throughout the course, students will learn about each element of the deal process through in-class lectures, while concurrently apply those learnings to a real-time mock deal, and preparing dealmaterials that mirror a real private equity transaction. The in-class lectures will cover both conceptual frameworks and real-world examples.

Knowledge@Wharton

How New Technologies Will Radically Reshape India’s Workforce

India will have the world’s largest workforce by 2027. But as AI, blockchain and other technologies quickly render existing ways of working obsolete, training will become more critical than ever.

Knowledge @ Wharton - 2018/02/23
Will India’s 2018 Budget Spur Growth — and Modi’s Re-election?

India’s economy is poised to rebound. But realizing the potential requires a smoother absorption of big structural reforms, revived private investment and stable oil prices, say experts.

Knowledge @ Wharton - 2018/02/22
Microsoft CEO Satya Nadella: How Empathy Sparks Innovation

Microsoft CEO Satya Nadella recounted his unlikely ascent to the top job and how the software giant’s culture is changing, during a recent talk at Wharton.

Knowledge @ Wharton - 2018/02/22