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Shai Bernstein

Shai Bernstein
Shai Benjamin Bernstein
Assistant Professor, Finance
ShaiBernstein
Assistant Professor of Finance
NBER Faculty Research Fellow
Academic Area: 
Finance

Research Interests

  • Corporate Finance
  • Entrepreneurial Finance
  • Contract Theory

Academic Degrees

  • PhD in Business Economics, Harvard University, 2012
  • MA, Financial Economics, Hebrew University of Jerusalem, 2007
  • BA, Mathematics and Economics, Ben Gurion University, 2005

Academic Appointments

  • Assistant Professor of Finance, Stanford Graduate School of Business, 2012-present

Awards and Honors

  • Younger Family Faculty Scholar, Stanford GSB, 2013-2014

Publications

Journal Articles

Does Going Public Affect Innovation?
Shai Bernstein. Journal of Finance (forthcoming). 2015.
Private Equity and Industry Performance
Shai Bernstein, Josh Lerner, Morten Sørensen, Per Strõmberg. Management Science (forthcoming). 2015.
The Impact of Venture Capital Monitoring
Shai Bernstein, Xavier Giroud, Richard R. Townsend. Journal of Finance (forthcoming). 2015.
The Investment Strategies of Sovereign Wealth Funds
Shai Bernstein, Josh Lerner, Antoinette Schoar. Journal of Economic Perspectives. March 2013, Vol. 27, Issue 2, Pages 219-238.
Contracting with Heterogeneous Externalities
Shai Bernstein, Eyal Winter. American Economic Journal: Microeconomics. 2012, Vol. 4, Issue 2, Pages 50-76.

Working Papers

Attracting Early Stage Investors: Evidence from a Randomized Field Experiment | PDF
Shai Bernstein, May 2014
The Operational Consequences of Private Equity Buyouts: Evidence from the Restaurant Industry | PDF
Shai Bernstein, Albert Sheen, April 282014

Courses Taught

Degree Courses

2014-15

FINANCE 373: Entrepreneurial Finance

This is a course about the financial decision-making process for start-up firms. The course takes a two-pronged approach: First, we develop tools and concepts of corporate finance related to modeling, valuation, control, and investment decisions...

FINANCE 630: Empirical Corporate Finance

This course provides an introduction to empirical research in corporate finance, with an emphasis on the application of cross-sectional and panel data econometric techniques for causal inference. Topics include investment policy, entrepreneurship...

2013-14

FINANCE 373: Entrepreneurial Finance

This is a course about the financial decision-making process for start-up firms. The course takes a two-pronged approach: First, we develop tools and concepts of corporate finance related to modeling, valuation, control, and investment decisions...

FINANCE 630: Empirical Corporate Finance

This course provides an introduction to empirical research in corporate finance, with an emphasis on the application of cross-sectional and panel data econometric techniques for causal inference. Topics include investment policy,...

2012-13

FINANCE 373: Entrepreneurial Finance

This course is focused on the financial decision-making process for start-up firms. The course takes a two-pronged approach: First, we analyze principles of corporate finance, valuation, control of firms, and investment decisions with an eye...

Stanford Case Studies

Illuminate Ventures: Raising a Venture Fund | E473
Shai Bernstein, Arthur Korteweg, Sara Rosenthal2013

Insights by Stanford Business

writtenShai Bernstein: What Is the Value of Private Equity Buyouts?
December 11, 2013
A finance professor says private equity buyouts add value to companies' operations without decimating their workforces.
writtenResearch: Big Investors May Still Be Too Parochial
July 9, 2013
Institutional investors often favor deals close to home — even though it can cost them dearly.
writtenAre IPOs Good for Innovation?
January 15, 2013
A Stanford scholar says going public often slows innovation.

School News

writtenNew Faculty Enrich the Stanford GSB Experience
July 11, 2012
Award-winning economist Susan Athey, noted econometrician Guido Imbens, corporate finance expert Joshua Rauh, and others to join Stanford GSB faculty.