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N.Bulent Gultekin N. Bulent Gultekin

Associate Professor of Finance


Wharton Faculty > Biography

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

Research Areas
Corporate finance and capital markets, financial development, privatization

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

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

Career and Recent Professional Awards; Teaching Awards
WEMBA Program Teaching Award, 2003

Corporate and Public Sector Leadership 2003-2007
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

Representative Publications
(with A. Penati)
"Capital Controls and International Capital Market Segmentation: The Evidence from the Japanese and American Stock Markets." Journal of Finance (September 1989).

(with R.J. Rogalski)
"Government Bond Returns, Measurement of Interest Rate Risk and the Arbitrage Pricing Theory." Journal of Finance (March 1985).

"A Critical Reexamination of the Empirical Evidence on the Arbitrage Pricing Theory." Journal of Finance (June 1984).