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Shai Bernstein

Shai Benjamin Bernstein
Assistant Professor, Finance
Assistant Professor of Finance
Academic Area: 

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


Journal Articles

Shai Bernstein. Journal of Finance, Forthcoming. 2014.
Shai Bernstein, Josh Lerner, Antoinette Schoar. Journal of Economic Perspectives. March 2013, Vol. 27, Issue 2, Pages 219-238.
Shai Bernstein, Eyal Winter. American Economic Journal: Microeconomics. 2012, Vol. 4, Issue 2, Pages 50-76.

Working Papers

The Impact of Venture Capital Monitoring: Evidence from a Natural Experiment | PDF
Shai Bernstein, Xavier Giroud, Richard Townsend, February 232014
Private Equity and Industry Performance
Shai Bernstein, Josh Lerner, Morten Sørensen, Per Strömberg, January 2010

Courses Taught

Degree Courses


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...

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,...


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

December 11, 2013
A finance professor says private equity buyouts add value to companies' operations without decimating their workforces.
July 9, 2013
Institutional investors often favor deals close to home — even though it can cost them dearly.
January 15, 2013
A Stanford scholar says going public often slows innovation.

School News

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