Vedat Akgiray

Vedat Akgiray is currently a Professor of Finance and Director of the Center for Corporate Governance (CCG) at Bogazici University in Istanbul, Turkey. He directed the doctoral program in finance from 1992 to 2009, co-founded and directed the M.S. Program in Financial Engineering from 2002 to 2009. During his academic career, he has advised more than seventy graduate students, published and presented more than one hundred academic papers. In March 2009, he was sworn in as the Chairman of the Capital Markets Board of Turkey, where he served until December 2012. He was the leader of the team designing and writing the new Capital Markets Law, which was enacted in 2012. Between 2010 and the end of his tenure at the CMB, he also served as the Chairman of the Emerging Markets Committee of IOSCO, vice-Chairman of the IOSCO Board, member of the Financial Stability Board of G20, member of the Monitoring Board of the IFRS Foundation, member of the IIRC, and member of the IOSCO Expert Group on Financial Benchmarks. In these positions, he actively participated in work streams on re-designing the international regulatory architecture in the aftermath of the global financial crisis of 2008-2010.

In addition to his life-time interest in mathematical finance, his current priority in research is in financial regulation and corporate governance as an integral part of "good" regulation. This includes building models of the relation between corporate governance and informational efficiency of financial markets, aiming to demonstrate the critical contribution of "economic-value-based" corporate governance to the sustainable growth of capital markets and hence to economic development globally.

He is currently writing a book to be titled “Good Finance”, which claims that financial  crises are largely due to both “too much finance” and also “bad kind of finance.” The purpose is to explain what is wrong with finance and what may be done to transform finance into a more “humane” discipline. The basic problem globally is that economic and political elite are fully occupied with the question of “how” and almot never consider the more fundamental question of “why”.