Shai Benjamin Bernstein

Assistant Professor of Finance

Younger Family Faculty Scholar for 2013-14

Personal Homepage:

CV: BernsteinCV

Academic Areas: Finance

Shai Bernstein conducts research in corporate finance with particular emphasis in entrepreneurial finance. He is interested in understanding how economic outcomes are influenced by the financing decisions of firms. In recent work, he has studied the effects of initial public offerings on firms’ innovation, the effect of private equity investments on target industries in which they operate, and the investment behavior of sovereign wealth funds in private firms.


Shai Bernstein is an Assistant Professor of Finance at the Stanford Graduate School of Business, where he teaches Entrepreneurial Finance in the MBA program. He joined the GSB in July 2012. Shai received a Bachelor’s degree in Mathematics and Economics from Ben Gurion University and a Master’s degree in Financial Economics from the Hebrew University in Israel. He earned a Ph.D in Business Economics at Harvard University in 2012.

Academic Degrees

Ph.D., Business Economics, Harvard University, 2007-2012 M.A., Financial Economics, Hebrew University of Jerusalem, 2005 - 2007 B.A., Mathematics and Economics, Ben Gurion University, 2002 – 2005

Selected Publications

  • Contracting with Heterogeneous Externalities (with Eyal Winter): American Economic Journal: Microeconomics, 2012

Working Papers

  • Private Equity and Industry Performance (with Josh Lerner, Morten Sorensen and Per Stromberg)
  • The Investment Strategies of Sovereign Wealth Funds (with Josh Lerner and Antoinette Schoar)
  • 2126: Does Going Public Affect Innovation?

Courses Taught