Svetla Vitanova

Color portrait of Svetla Vitanova

Assistant Teaching Professor in Finance

Department Finance
Office Address 363A Business Building
Phone Number 814-865-9201
Email Address

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Svetla Vitanova is an Assistant Teaching Professor of Finance at the Smeal College of Business, Pennsylvania State University. She received her Ph.D. from Brown University in 2010. Her research has appeared in Management Science. Currently, Svetla is teaching Financial Markets and Institutions, and Multinational Financial Management.


Empirical Corporate Finance


Ph D, Economics, Brown University, 2010

MA, Economics, Central European University, 2001

BA, Economics, Sofia University, 1999

Courses Taught

FIN 408 – Fin Mrkts and Insts (3)
Functional analysis of major credit institutions; sources and uses of funds; impact of government regulation.

FIN 407 – Mult Fin Mgmt (3)
Analysis of the international aspects of managerial finance; emphasis on the impact of the international financial environment on firm operations.

The course provides an integrative study of financial management utilizing applied problems and case studies. It is intended to provide both depth and breadth to students' knowledge of corporate finance. This course gives an overview of the key concepts, tools, and principles of both strategy formulation and competitive analysis utilized by the successful corporate manager. Students will analyze the dynamic business environment that successful corporate financial managers must navigate to enhance organizational performance. The skill of decision analysis is presented and then applied by focusing on how managerial decision-making affects the performance of the modern corporate enterprise. Specific topics include capital investment decision making, value creation, strategic cost management, financial performance metrics, strategic financial planning and control, strategic restructuring and growth strategies, corporate governance, and ethics.

FIN 305 – Financial Management of the Business Enterprise (3)
Development of advanced practices of financial management and their application to decision making in business firm.

Selected Publications

Vitanova S., Iliev P. G., "The Effects of Say on Pay in the U.S.." Management Science, vol. 65, no. 10, 2019, pp. 4451-4949
Vitanova S., Tyler J., "Does MSP Participation Increase the Supply of Math Teachers?." Peabody Journal of Education, vol. 83, no. 4, 2008, pp. 536-561