David Wessels

David Wessels
  • Adjunct Professor of Finance

Contact Information

  • office Address:

    2422 SH-DH
    Philadelphia, PA 19104

Overview

David Wessels is an Adjunct 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.

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Research

Teaching

Past Courses

  • FNCE100 - CORPORATE FINANCE

    This course provides an introduction to the theory, the methods, and the concerns of corporate finance. The concepts developed in FNCE 100 form the foundation for all elective finance courses. The main topics include: 1) the time value of money and capital budgeting techniques; 2) uncertainty and the trade-off between risk and return; 3) security market efficiency; 4) optimal capital structure, and 5) dividend policy decisions. During the Fall semester there are honors sections of FNCE 100 offered. The seats in the honors sections are awarded through an application process. Please go to: https://fnce.wharton.upenn.edu/programs/course-applications for additional information.

  • FNCE207 - CORPORATE VALUATION

    The focus of this course is on the valuation of companies. The course covers current conceptual and theoretical valuation frameworks and translates those frameworks into practical approaches for valuing companies. The relevant accounting topics and the appropriate finance theory are integrated to show how to implement the valuation frameworks discussed on a step-by-step basis. The course teaches how to develop the required information for valuing companies from financial statements and other information sources in a real-world setting. Topics covered in depth include discounted cash flow techniques and price multiples. In addition, the course covers other valuation techniques such as leveraged buyout analysis.

  • FNCE250 - VENT CAP & FNCE INNOVAT

    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.

  • FNCE399 - INDEPENDENT STUDY

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

  • FNCE728 - CORPORATE VALUATION

    The focus of this course is on the valuation of companies. The course covers current conceptual and theoretical valuation frameworks and translates those frameworks into practical approaches for valuing companies. The relevant accounting topics and the appropriate finance theory are integrated to show how to implement the valuation frameworks discussed on a step-by-step basis. The course teaches how to develop the required information for valuing companies from financial statements and other information sources in a real-world setting. Topics covered in depth include discounted cash flow techniques and price multiples. In addition, the course covers other valuation techniques such as leveraged buyout analysis.

  • FNCE750 - VENT CAP & FNCE INNOVAT

    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.

  • FNCE899 - INDEPENDENT STUDY

    Independent Study Projects require extensive independent work and a considerable amount of writing. ISP in Finance are intended to give students the opportunity to study a particular topic in Finance in greater depth than is covered in the curriculum. The application for ISP's should outline a plan of study that requires at least as much work as a typical course in the Finance Department that meets twice a week. At a minimum, we need a description of the methodology you intend to employ, a bibliography and description of the data that you will use as well as a list of interim deliverables and dates to ensure that you complete the project within the semester. Applications for FNCE 899 ISP's will not be accepted after the THIRD WEEK OF THE SEMESTER. You must submit your Finance ISP request using the Finance Department's ISP form located at https://fnce.wharton.upenn.edu under the Course ISP section

  • MGMT721 - CORP DEV: MERG & ACQUIS

    This course explores the role of mergers and acquisitions and alternative methods of corporate development in advancing the strategies of operating business. Emphasis is on the way companies use acquisitions to alter business mixes; seize opportunities in new products, technologies and markets; enhance competitive positioning; adjust to changing economics, and promote value-creating growth. Although the course will emphasize strategic acquisitions, it also will explore leveraged buy-outs and hostile financial acquisitions as well as their influence on corporate buyers. Please note that you must fulfil the prerequisites in order to enroll in this class.

Awards and Honors

Activity

In the News

The CFO Imperative: Leveraging the Cloud for Business Innovation and Growth

Cloud technology offers Internet-based IT resources to firms without the need for major, upfront capital outlays. By tapping services on a pay-as-you-go basis, businesses can stay flexible and efficient.

Knowledge @ Wharton - 2016/10/3
All News

Awards and Honors

Excellence in Teaching Award, WEMBA San Francisco 2017
All Awards