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Professor of Finance
BSc (London) MS PhD (Carnegie Mellon)
Professor Suleyman Basak is recognised as one of the world’s leading experts on asset pricing and risk management. His influential and prize-winning research focuses on financial innovation, asset allocation, and market imperfections. It addresses issues related to portfolio insurance, Value at Risk-based risk management, credit risk, tax arbitrage, incentive problems plaguing institutional asset management, mispricing, arbitrageurs, and monopoly power in financial markets.
He has won a number of awards for his teaching. He received the General Excellence Teaching Award, Best Teacher Masters in Finance and Best Teacher Masters in Financial Analysis Awards at London Business School. He was previously at Wharton (University of Pennsylvania) where he won the David Hauck Teaching Award, and the Wharton Graduate and Undergraduate Divisions Excellence in Teaching Awards.
Previously, he was at the Wharton School of the University of Pennsylvania, held a visiting position at the Graduate School of Business at the University of Chicago, and acted as a consultant to Goldman Sachs.
Continuous-Time Finance
E261: Fixed Income Securities
E310: Financial Engineering and Risk Management
Best Paper AwardMultinational Finance Society, Larnaca, 2014. For “"A Model of Financialization of Commodities."
American Association of Individual Investors Award for the Best Paper on Investments, Western Finance Association, Santa Monica, 1999. For "Value-at-Risk Based Risk Management: Optimal Policies and Asset Prices."
Geewax, Terker Prize in Investment Research, Rodney L. White Center for Financial Research, University of Pennsylvania, 1999. For "Value-at-Risk Based Risk Management: Optimal Policies and Asset Prices."
Geewax, Terker Prize in Investment Research, Rodney L. White Center for Financial Research, University of Pennsylvania, 1999. For "An Equilibrium Model with Restricted Stock Market Participation."
Alexander Henderson Award for Excellence in Economic Theory, Carnegie Mellon University, 1993. For PhD thesis "General Equilibrium Continuous-Time Asset Pricing in the Presence of Portfolio Insurers and Non-Price Taking Investors."
Best Teacher Award MiF, London Business School, 2007, 2008, 2009, 2010, 2011, 2012, 2013, 2015, 2016, 2018.
Best Teacher Award MFA, London Business School, 2017.
General Excellence Teaching Award, London Business School, 2001.
Graduate Division Excellence in Teaching Award, The Wharton School, University of Pennsylvania, 2000.
Undergraduate Division Excellence in Teaching Award, The Wharton School, University of Pennsylvania, 1996, 1997, 1998, 1999.
David Hauck Teaching Award, The Wharton School, University of Pennsylvania, 1997.
Best Student Teacher Award, Carnegie Mellon University, 1991.
William Larimer Mellon Fellowship, Carnegie Mellon University, 1988-1991.
Fulbright Scholarship, Cyprus-America Scholarship Program, Washington, DC, 1986-1988.
ESRC, Economic & Social Research Council, UK, 2003.
Who's Who in the World, Who's Who in Finance and Industry, 2002-present.
Asset Pricing
Asset allocation
Risk management
Market imperfections
International finance
Financial innovation
2022
Atmaz A; Basak S
Journal of Finance 2022 Vol 77:1 p 545-599
2020
Basak S; Makarov D; Shapiro A; Subrahmanyam M
Journal of Economic Dynamics and Control 2020 Sept Vol 118 p 103976
2019
Basak S; Chabakauri G
Review of Financial Studies 2019 Vol 32:12 p 4905-4946
Atmaz A; Basak S
Journal of Financial Economics 2019 Vol 134:1 p 1-28
2018
Atmaz A; Basak S
Journal of Finance 2018 Vol 73:3 p 1225-1279
2016
Basak S; Pavlova A
Journal of Finance 2016 Vol 71:4 p 1511-1556
2014
Basak S; Makarov D
Journal of Finance 2014 Vol 69:1 p 179-217
2013
Basak S; Pavlova A
American Economic Review 2013 Vol 103:5 p 1728-1758
2012
Basak S; Makarov D
Journal of Financial Economics 2012 February Vol 103:2 p 377-392
Basak S; Chabakauri G
Review of Financial Studies 2012 Vol 25:6 p 1845-1896
2010
Basak S; Chabakauri G
Review of Financial Studies 2010 Vol 23:8 p 2970-3016
Basak S; Yan H
Review of Economic Studies 2010 Vol 77:3 p 914-936
2008
Basak S; Cass D; Licari J M; Pavlova A
Journal of Economic Theory 2008 September Vol 142:1 p 100-127
Basak S; Pavlova A; Shapiro A
Journal of Banking and Finance 2008:32 p 1883-1893
2007
Basak S; Croitoru B
Journal of International Economics 2007 Vol 71:2 p 267-293
Basak S; Pavlova A; Shapiro A
Review of Financial Studies 2007 Vol 20:5 p 1583-1621
2006
Basak S; Croitoru B
Journal of Financial Economics 2006 Vol 81:1 p 143-173
Shapiro A; Tepla L; Basak S
Management Science 2006 Vol 52 p 542-557
2005
Basak S; Shapiro A
Journal of Business 2005 Vol 78:4 p 1215-1266
Basak S
Journal of Banking and Finance 2005 Vol 29:11 p 2849-2881
Basak S; Pavlova A
in Citanna A et al. eds, Essays in dynamic general equilibrium theory: festschrift for David Cass, Springer, 2005
2004
Basak S; Pavlova A
Economic Theory 2004 Oct Vol 24:3 p 503-530
2003
Basak S; Gallmeyer M
European Finance Review 2003 Vol 7:2 p 121-159
2002
Basak S
Journal of Economic Dynamics and Control 2002 July Vol 26:7-8 p 1217-1241
2001
Basak S; Croitoru B
Journal of Mathematical Economics 2001 Vol 35:2 p 347-382
Basak S; Shapiro A
Review of Financial Studies 2001 January Vol 14:2 p 371-405
2000
Basak S; Croitoru B
Review of Financial Studies 2000 Fall Vol 13:3 p 715-748
Basak S
Journal of Economic Dynamics and Control 2000 January Vol 24:1 p 63-95
1999
Basak S; Gallmeyer M
Mathematical Finance 1999 January Vol 9:1 p 1-30
Basak S
Journal of Economic Dynamics and Control 1999 June Vol 23:7 p 1029-1064
1998
Basak S; Cuoco D
Review of Financial Studies 1998 Summer Vol 11:2 p 309-341
1997
Basak S
Economic Theory 1997 Vol 10:3 p 437-462
1996
Basak S
Journal of Financial and Quantitative Analysis 1996 June Vol 31:2 p 161-188
1995
Basak S
Review of Financial Studies 1995 Winter Vol 8:4 p 1059-1090
2020
Atmaz A; Basak S; Ruan F
Social Sciences Research Network
Our teaching offering is updated annually. Faculty and programme material are subject to change.