opportunity to blend theory and practice in the classroom is what led Vahap
Uysal to the Driehaus College of Business at DePaul University.
professor of finance teaches a popular investment seminar that uses an actual
stock portfolio to challenge students to analyze securities and recommend what
to buy and sell. A licensed
trader then executes the decisions made by the students.
research takes a similar real-world approach, delving into corporate social responsibility,
mergers and acquisitions and other issues relevant to the finance industry.
native of Turkey, Uysal joined the college’s full-time faculty last fall from the
University of Oklahoma, where he was the student investment fund professor. Below he shares more about his teaching and research at DePaul.
Why did you decide to pursue a teaching career?
I have a passion to contribute to the society
in which I live. The best way to do this is to educate young generations and to
inspire them to do good for themselves and for the society. Teaching at a
university is the best way to achieve this goal.
What about DePaul and its business school made you want to join our faculty?
I am drawn to teaching at DePaul because of
the emphasis on engaging theory with practice. Collegiality and a socially
responsible culture have also made DePaul my second home.
The Finance 395/595 Student Investment Seminar
course is intended to provide students with a rich learning and theory application
opportunity focusing on financial investing. The learning module is built upon
the fusion of the academic knowledge that students have gained from advanced
courses in investments and corporate finance with the actual practice of
analyzing securities and making and defending buy and sell recommendations for
a ‘live’ portfolio. The course is unique to collegiate business education and
provides students with a definite competitive edge in the job market.
What are you researching?
Recently, I have developed an interest in the
role of corporate social responsibility on investor and corporate decisions. In
a joint paper with Texas A&M Professor Audra Boone, we examine the role of a
firm’s environmental performance
on acquisition decisions.
We find that ‘toxic’ firms—firms with
negative environmental performance—have a lower associated probability of being
acquired, even after controlling for firm and industry characteristics. We also
document that acquirers account for reputation in their selection of target
firms and are likely to acquire firms with similar environmental reputations.
Most notably, ‘green’ firms—firms with positive environmental performance in
our sample—never acquire toxic firms, though they do acquire firms with gray or
neutral environmental performances. Acquirers that buy firms with differing
environmental reputations use a higher percentage of stock in their acquisition
offers. We further show that the returns to acquirers are more negative when
they acquire firms outside of their area, which suggests that the acquirers
lose value, on average, with these acquisitions. This negative effect is even
more pronounced when an acquirer with an established green reputation acquires
a non-green target.
Collectively, these findings support the view
that firms are concerned about their environmental reputations and account for
the reputations of targets in planning and structuring acquisitions.
What do you do in your
I love reading and spending time with my children. I'm also a competitive chess player.
Learn more about earning a degree in finance at DePaul: