Mr Ismail Erturk

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Position: Senior Lecturer
Academic unit: People, Management and Organisations


Ismail Ertürk joined the School in January 1987, having worked previously for a merchant bank in Istanbul. From 1982-1983 he was a research fellow at Hull University. He then continued his postgraduate studies at New York University where he specialised in banking. He has taught corporate finance, bank financial management and international finance on both the School’s MBA and Executive Centre programmes. In recent years his teaching reflects his research interests in financialization and financial innovation that he investigates as part of an inter-disciplinary team at CRESC at the University of Manchester. He has undertaken advisory work for companies and government institutions internationally and has developed and directed senior banking programmes for the Executive Centre. He has held visiting positions on Executive MBA Programmes at Stockholm School of Economics, St Petersburg, Istanbul Bilgi University, and ESCP-EAP, Paris.

Research Interests

His current research interests include financialisation, financial intermediation, financial innovation, corporate governance, executive pay, financial literacy, household financial portfolios and cultural economy.

Additional Information

Teaching specialisms: Banking; Bank Financial Management; Foreign Exchange Risk Management; International Project Finance; Corporate Finance; International Finance

Programme involvement

Specialist fields




Publication summary




Working papers

LCMNTitleYear published
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Showing 45 publication(s)

Authored book

  • Andrew Bowman, Ismail Erturk, Julie Froud, Sukhdev Johal, John Law, Adam Leaver, Michael Moran, Karel Williams. The End of the Experiment?. The Manchester Capitalism Book Series. Manchester: Manchester University Press, 2014. eScholarID:255556
  • Engelen, E., Erturk, I., Froud, J., Leaver, A., Johal, S., Moran, M., Nilsson, A., Williams,K. After the Great Complacence: Financial Crisis and the Politics of Reform. London: Oxford University Press, 2011. eScholarID:150599

Edited book

  • Charles Goodhart, Daniela Gabor, Jakob Vestergaard and Ismail Erturk. Charles Goodhart, Daniela Gabor, Jakob Vestergaard and Ismail Erturk. ed. Central Banking at a Crossroads. Anthem Frontiers of Global Political Economy. London: Anthem, 2014. eScholarID:255544

Book contribution

  • Ismail Erturk. "Reconceptualizing Central Bank Unconventional Policies: Long Positions on No-Growth Capitalism." In Central Banking at a Crossroads, ed. Charles Goodhart, Daniela Gabor, Jakob Vestergaard and Ismail Erturk, 217-228. London: Anthem, 2014. eScholarID:255573
  • Erturk, I., Prof Wood Douglas. "European Payment Systems." 7-26.1996. eScholarID:3b4551
  • Erturk, I., Prof Wood Douglas. "Understanding and Managing Risk in Project Finance." In Project & Infrastructure Finance in Asia, 17-41.1996. eScholarID:3b4550

Journal article

  • "Financialization, Bank Business Models and the Limits of Post-crisis Bank Regulation." Journal of Banking Regulation 17, no. 1&2(2016) . eScholarID:290981 | DOI:10.1057/jbr.2015.23
  • "Challenges of financialised firm behaviour for Capital Markets Union." Law and Financial Markets Review 9, no. 3(2015) : 196-201. eScholarID:290951 | DOI:10.1080/17521440.2015.1084561
  • Ertürk, I., Froud, J., Leaver, A., Johal, S., and Williams, K. "(How) do devices matter in Finance?" Journal of Cultural Economy(2013) : 336-352. eScholarID:255594 | DOI:10.1080/17530350.2013.802987
  • Bowman, A., Ertürk, I, Leaver, A., Froud, J. Johal, S., Moran, M., and Williams, K "Central Bank-Led Capitalism?" Seattle University Law Review 36, no. 2(2013) : 32. eScholarID:194882
  • Erturk, I., Froud, J., Leaver, A., Williams, K. "Accounting for national success and failure: rethinking the UK case." Accounting Forum(2012) . eScholarID:150605 | DOI:10.1016/j.accfor.2012.01.004
  • Erturk, I., Leaver, A., Froud, J., Moran, M., Williams, K. "Haldane's Gambit: political arithmetic and/or a new metaphor." Journal of Cultural Economy(2012) . eScholarID:150598 | DOI:10.1080/17530350.2011.609696
  • Engelen, E., Erturk, I., Froud, J., Leaver, A., Johal, S., Moran, M., Williams, K. "Misrule of experts? The financial crisis as elite debacle." Economy and Society(2012) . eScholarID:150610 | DOI:10.1080/03085147.2012.661634
  • Erturk, I., Froud, J., Leaver, A., Williams, K. "Changing the metaphor: finance as circuit." Socio-Economic Review 9, no. 3(2011) : 580-588. eScholarID:126451
  • Ertürk, I, Leaver, A., Williams, K. "Hedge Funds as ‘War Machine’: Making the Positions Work." New Political Economy 15, no. 1(2010) : 9-28. eScholarID:116067 | DOI:10.1080/13563460903553566
  • Ertürk, I., Froud, J., Johal, S., Leaver, A., Williams, K. "Ownership matters: private equity and the political division of ownership." Organization 17, no. 5(2010) : 543-561. eScholarID:116070 | DOI:10.1177/1350508410372929
  • Engelen, E., Ertürk, I, Leaver, A., Froud, J. and Williams, K "Reconceptualizing financial innovation: frame, conjuncture and bricolage." Economy and Society 39, no. 1(2010) : 33-63. eScholarID:116062 | DOI:10.1080/03085140903424568
  • Erturk, I., Froud, J., Leaver, A., Williams, K. "Against Agency: a positional critique." Economy and Society 36, 1(2007) . eScholarID:1b10126 | DOI:10.1080/03085140601089903
  • Froud, J., Erturk, I., Leaver, A., Williams, K., Sukhdev Johal. "The democratisation of finance? Promises, outcomes, conditions." Review of International Political Economy 14/4(2007) : 553-75. eScholarID:1b4456
  • Erturk, I. "Governance or financialisation: the Turkish case." Competition and Change 7(4)(2003) . eScholarID:1b8385
  • Erturk, I. "Turkey needs to privatise her private banks." Investor Turkey 9(1999) . eScholarID:1b8382
  • Erturk, I. "A New Paradigm for the Economic and Business Thinking in Turkey." Investor Turkey 3(1998) : 16-18. eScholarID:1b8381
  • Erturk, I. "Assessing management risk in Turkish companies." Investor Turkey 2(1998) : 12-14. eScholarID:1b8380
  • Erturk, I. "Making sense of the real economy in Turkey." Investor Turkey 1(1998) : 12-14. eScholarID:1b8383
  • Erturk, I. "Managing exchange rate risk." Financial Times Mastering Management 9(1998) : 19-22. eScholarID:1b8379

Conference contribution

  • Erturk, I. 2014. Mapping the Distance of Museums and Culture from the Vortex of Financial Crisis. In Museums beyond the Crises 12 November 2012 - 14 November 2012, edited by Jover, Ines, 7-20. SALT Musuem, Istanbul: CIMAM. eScholarID:257729
  • Leaver, A., Froud, J., Johal S, Williams, K., Erturk, I. 2005. Branded Capitalism: a cultural economy approach to financialisation. In 13th GERPISA International Colloquium, 'Productive Organisations, Employment Relationships and Financialisation: Specificities of the Automotive Industry'. eScholarID:2b2482
  • Leaver, A., Erturk, I., Froud, J., Williams, K., Johal S. 2005. The Democratisation of Finance: promises, outcomes and conditions. In Review of International Political Economy Conference: After 'deregulation': the financial system in the 21st century. eScholarID:2b2480

Working paper

  • Erturk, I., Froud, J., Johal, S., Law, J., Leaver, A., Moran, M. and Williams, K. "Deep Stall? The euro zone crisis, banking reform and politics." CRESC Working Papers(2012) . eScholarID:257723
  • Bowman, A., Erturk, I., Froud, J., Johal, S., Law, J., Leaver, A., Moran, M. and Williams, K. "The Finance and Point-Value-Complex." CRESC(2012) . eScholarID:257724
  • Erturk, I., Froud, J., Johal, S., Leaver, A., Moran, M., Williams, K. "City State against National Settlement: UK Economic Policy and Politics after the Financial Crisis."(2011) . eScholarID:150633
  • Erturk, I., Froud, J., Leaver, A., Moran, M., Williams, K. "Haldane's Gambit: political arithmetic and/or a new metaphor."(2011) . eScholarID:150630
  • Engelen, E. Erturk, I., Leaver, A., Williams, K. "Misrule of Experts? The Financial Crisis as Elite Debacle."(2011) . eScholarID:150624

Exhibition contribution

  • . Shorting the Long Position, eScholarID:257734
  • . I dispense, divide, assign, keep, hold, eScholarID:257731
  • . Discreet Charm of Meta-finance, eScholarID:150635


  • Erturk, I., Wood, D. 2003. Credit Risk Management in the Financial Sector. eScholarID:5b691
  • Erturk, I. Make the break: why ring-fencing falls short and full separation is a necessary first step for British banks. London: Good Banking Forum. eScholarID:150612

Newspaper/magazine contribution

  • Erturk, I. "Reform, not banking regulation, will increase lending to SMEs." The Banker(2014) . eScholarID:257726
  • Erturk, I. "Risky Business." Britain in Hong Kong, The Official Magazine of British Chamber of Commerce in Hong Kong(2014) : 43-44. eScholarID:257727


  • “Financialised Capitalism and Contemporary Art”, in Süreyyya Evren (ed.) Burak Delier: Displacing Silence, Revolver Publishing, Berlin.
  • Erturk, I., Froud, J., Johal S, Leaver, A., Williams, K. Agency, the Romance of Management Pay and an Alternative Explanation, (CRESC) Working Paper No. 23. 2006.
  • Erturk, I. An Analysis of Recent Developments in Foreign Exchange Markets, MBS Working Paper No. 337. 1996. 0954-7402. 10 pgs.
  • Erturk, I., Prof Wood Douglas. Bank Relationship Survey. 1996. 9-0388-0864-8. Manchester Business School: Manchester.