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Shai Bernstein
Shai Benjamin Bernstein
Assistant Professor, Finance
Contact Info
+1 650-725-7266
Email
Personal Website
ShaiBernstein
Assistant Professor of Finance
Dhirubhai Ambani Faculty Scholar in Entrepreneurship for 2015-16
Academic Area: 
Finance

Research Interests

  • Corporate Finance
  • Entrepreneurial Finance

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 GSB, 2012-present
  • NBER Faculty Research Fellow, 2015-present

Awards and Honors

  • Brattle Prize Winner (First Prize) for Best Paper in the Journal of Finance, 2015
  • Dhirubhai Ambani Faculty Scholar in Entrepreneurship for 2015-2016
  • Younger Family Faculty Scholar, Stanford GSB, 2013-2014
  • Kauffman Foundation Junior Faculty Fellowship in Entrepreneurship
  • Best paper award, Coller Institute, London Business School
  • Ewing Marion Kauffman Dissertation Fellowship

Publications

Journal Articles

The Operational Consequences of Private Equity Buyouts: Evidence from the Restaurant Industry
Shai Bernstein, Albert Sheen. Review of Financial Studies (forthcoming). 2016.
Does Going Public Affect Innovation?
Shai Bernstein. Journal of Finance. August 2015, Vol. 70, Issue 4, Pages 1365-1403.
Attracting Early Stage Investors: Evidence from a Randomized Field Experiment
Shai Bernstein, Arthur Korteweg, Kevin Laws. 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

Asset Allocation in Bankruptcy | PDF
Shai Bernstein, Emanuele Colonnelli, Benjamin Iverson2016

Courses Taught

Degree Courses

2015-16

FINANCE 373: Entrepreneurial Finance

This is a course about the financial decision-making process largely from the point of view of the CEO of an entrepreneurial venture, ranging from very early to very late stages. The course takes a two-pronged approach: First, we develop tools...

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...

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...

Stanford Case Studies

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

Insights by Stanford Business

writtenImpact: The Recommended List
February 1, 2016
Stanford GSB professors share their reading list for topics related to impact.
writtenShai Bernstein: Does Face Time with Investors Make a Startup More Successful?
August 11, 2015
Having investors you can easily interact with can help a business grow.
writtenShai Bernstein: What Really Matters to Early-Stage Investors?
July 30, 2015
The team behind a business concept can be more important than the idea itself.
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.

Companies & Organizations

The Difference

Admission