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David S. Scharfstein

Harvard Business School - Finance Unit

Edmund Cogswell Converse Professor of Finance and Banking

Boston, MA 02163

United States

http://www.people.hbs.edu/dscharfstein/

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue

Cambridge, MA 02138

United States

  • Harvard Business School - Finance Unit

    • Email
    • Tel: 617-496-5067
    • Fax: 617-496-8443
SCHOLARLY PAPERS

40

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Rank 804

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Top 804

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24,596

CITATIONS
Rank 106

SSRN RANKINGS

Top 106

in Total Papers Citations

2,546

Scholarly Papers (40)

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1.

Bank Lending During the Financial Crisis of 2008

EFA 2009 Bergen Meetings Paper
Number of pages: 45 Posted: 10 Nov 2008 Last Revised: 31 Jul 2009
Victoria Ivashina and David S. Scharfstein
Harvard University and Harvard Business School - Finance Unit
Downloads 9,024 (321)
Citation 181

Abstract:

Bank Lending, Financial Crisis

2.

Skill vs. Luck in Entrepreneurship and Venture Capital: Evidence from Serial Entrepreneurs

Downloads 4,567 ( 1,326)
Citation 22

Skill vs. Luck in Entrepreneurship and Venture Capital: Evidence from Serial Entrepreneurs

Number of pages: 41 Posted: 02 Oct 2006
Paul A. Gompers, Anna Kovner, Josh Lerner and David S. Scharfstein
Harvard Business School - Finance Unit, Federal Reserve Bank of New York, Harvard Business School - Finance Unit and Harvard Business School - Finance Unit
Downloads 4,392 (1,396)
Citation 22

Abstract:

new ventures, entrepreneurs

Skill vs. Luck in Entrepreneurship and Venture Capital: Evidence from Serial Entrepreneurs

NBER Working Paper No. w12592
Number of pages: 42 Posted: 20 Oct 2006
Paul A. Gompers, Anna Kovner, Josh Lerner and David S. Scharfstein
Harvard Business School - Finance Unit, Federal Reserve Bank of New York, Harvard Business School - Finance Unit and Harvard Business School - Finance Unit
Downloads 175 (143,983)
Citation 22

Abstract:

3.

Reforming Money Market Funds

Tuck School of Business Working Paper No. 2011-86, Rock Center for Corporate Governance at Stanford University Working Paper No. 109, Columbia Business School Research Paper No. 12-13
Number of pages: 10 Posted: 19 Jan 2011 Last Revised: 20 Feb 2012
Martin N. Baily, John Y. Campbell, John H. Cochrane, Douglas W. Diamond, Darrell Duffie, Kenneth R. French, Anil K. Kashyap, Frederic S. Mishkin, David S. Scharfstein, Robert J. Shiller, Matthew J. Slaughter, Hyun Song Shin, Jeremy C. Stein and René M. Stulz
Brookings Institution, Harvard University - Department of Economics, Hoover Institution, University of Chicago - Booth School of Business, Stanford University - Graduate School of Business, Tuck School of Business at Dartmouth, University of Chicago, Booth School of Business, Columbia Business School - Finance and Economics, Harvard Business School - Finance Unit, Yale University - Cowles Foundation, Tuck School of Business at Dartmouth, Bank for International Settlements, Harvard University - Department of Economics and Ohio State University (OSU) - Department of Finance
Downloads 1,472 (8,238)

Abstract:

4.

Learning About Internal Capital Markets From Corporate Spinoffs

Number of pages: 47 Posted: 26 Jan 2001
Robert H. Gertner, Eric A. Powers and David S. Scharfstein
University of Chicago - Finance, University of South Carolina - Darla Moore School of Business and Harvard Business School - Finance Unit
Downloads 1,160 (13,513)
Citation 65

Abstract:

5.

Loan Syndication and Credit Cycles

American Economic Review, Forthcoming
Number of pages: 11 Posted: 20 Jan 2010
Victoria Ivashina and David S. Scharfstein
Harvard University and Harvard Business School - Finance Unit
Downloads 1,148 (10,176)
Citation 11

Abstract:

Banks, Credit, Syndicated loans

6.

Dollar Funding and the Lending Behavior of Global Banks

Downloads 812 ( 23,687)
Citation 8

Dollar Funding and the Lending Behavior of Global Banks

Number of pages: 46 Posted: 06 Nov 2012
Victoria Ivashina, David S. Scharfstein and Jeremy C. Stein
Harvard University, Harvard Business School - Finance Unit and Harvard University - Department of Economics
Downloads 662 (31,055)
Citation 8

Abstract:

Banks, Global Banks, Credit Supply, Dollar Funding

Dollar Funding and the Lending Behavior of Global Banks

Quarterly Journal of Economics, Forthcoming
Number of pages: 51 Posted: 06 Jan 2013 Last Revised: 11 Mar 2015
Victoria Ivashina, David S. Scharfstein and Jeremy C. Stein
Harvard University, Harvard Business School - Finance Unit and Harvard University - Department of Economics
Downloads 145 (169,819)
Citation 8

Abstract:

Covered Interest Parity; Dollar Funding; Credit Supply; Global Banks

Dollar Funding and the Lending Behavior of Global Banks

NBER Working Paper No. w18528
Number of pages: 47 Posted: 11 Nov 2012
Victoria Ivashina, David S. Scharfstein and Jeremy C. Stein
Harvard University, Harvard Business School - Finance Unit and Harvard University - Department of Economics
Downloads 5 (549,159)
Citation 8

Abstract:

7.

Entrepreneurial Spawning: Public Corporations and the Genesis of New Ventures, 1986-1999

Downloads 744 ( 26,820)
Citation 98

Entrepreneurial Spawning: Public Corporations and the Genesis of New Ventures, 1986-1999

Harvard NOM Working Paper No. 03-37; MIT Sloan Working Paper No. 4317-03
Number of pages: 51 Posted: 21 Jun 2003
Paul A. Gompers, David S. Scharfstein and Josh Lerner
Harvard Business School - Finance Unit, Harvard Business School - Finance Unit and Harvard Business School - Finance Unit
Downloads 618 (34,107)
Citation 98

Abstract:

Venture Capital, Entrepreneurship, Start-up

Entrepreneurial Spawning: Public Corporations and the Genesis of New Ventures, 1986-1999

NBER Working Paper No. w9816
Number of pages: 51 Posted: 05 Jul 2003
Paul A. Gompers, David S. Scharfstein and Josh Lerner
Harvard Business School - Finance Unit, Harvard Business School - Finance Unit and Harvard Business School - Finance Unit
Downloads 126 (190,207)
Citation 98

Abstract:

8.

Do Firm Boundaries Matter?

MIT Dept. of Economics Working Paper No. 01-05
Number of pages: 15 Posted: 14 Feb 2001
Sendhil Mullainathan and David S. Scharfstein
Harvard University - Department of Economics and Harvard Business School - Finance Unit
Downloads 638 (32,265)
Citation 17

Abstract:

9.

Aligning Incentives at Systemically Important Financial Institutions

Columbia Business School Research Paper No. 13-18, Fisher College of Business Working Paper
Number of pages: 7 Posted: 28 Mar 2013
Martin N. Baily, John Y. Campbell, John H. Cochrane, Douglas W. Diamond, Darrell Duffie, Kenneth R. French, Anil K. Kashyap, Frederic S. Mishkin, David S. Scharfstein, Robert J. Shiller, Matthew J. Slaughter, Hyun Song Shin and René M. Stulz
Brookings Institution, Harvard University - Department of Economics, Hoover Institution, University of Chicago - Booth School of Business, Stanford University - Graduate School of Business, Tuck School of Business at Dartmouth, University of Chicago, Booth School of Business, Columbia Business School - Finance and Economics, Harvard Business School - Finance Unit, Yale University - Cowles Foundation, Tuck School of Business at Dartmouth, Bank for International Settlements and Ohio State University (OSU) - Department of Finance
Downloads 495 (37,371)

Abstract:

Bonus, compensation, contingent convertible bonds, capital, regulation, financial crisis

10.

The Growth of Modern Finance

Number of pages: 53 Posted: 16 Oct 2012
Robin M. Greenwood and David S. Scharfstein
Harvard Business School - Finance Unit and Harvard Business School - Finance Unit
Downloads 432 (41,921)
Citation 4

Abstract:

Financial services, fees, asset management

11.

Lowering the Cost of Bank Recapitalization

Yale Journal of Regulation, Forthcoming
Number of pages: 13 Posted: 25 Feb 2009 Last Revised: 25 May 2015
John C. Coates, IV and David S. Scharfstein
Harvard Law School and Harvard Business School - Finance Unit
Downloads 394 (55,906)
Citation 7

Abstract:

Bailout, banks, bank holding companies, TARP, workout, bankruptcy, bank regulation, solvency, restructuring, rights offering, recapitalization, bridge bank, open bank assistance

12.

Organizational Scope and Investment: Evidence from the Drug Development Strategies and Performance of Biopharmaceutical Firms

Downloads 357 ( 68,647)
Citation 24

Organizational Scope and Investment: Evidence from the Drug Development Strategies and Performance of Biopharmaceutical Firms

Number of pages: 47 Posted: 19 Nov 2004
Ilan Guedj and David S. Scharfstein
Bates White, LLC and Harvard Business School - Finance Unit
Downloads 289 (86,841)
Citation 24

Abstract:

Internal capital markets, resource allocation, drug development, financial resources

Organizational Scope and Investment: Evidence from the Drug Development Strategies and Performance of Biopharmaceutical Firms

NBER Working Paper No. w10933
Number of pages: 48 Posted: 14 Dec 2004
Ilan Guedj and David S. Scharfstein
Bates White, LLC and Harvard Business School - Finance Unit
Downloads 68 (287,671)
Citation 24

Abstract:

13.

Risk Management: Coordinating Corporate Investment and Financing Policies

NBER Working Paper No. w4084
Number of pages: 33 Posted: 29 Jan 2001 Last Revised: 31 Aug 2010
Kenneth Froot, David S. Scharfstein and Jeremy C. Stein
National Bureau of Economic Research (NBER), Harvard Business School - Finance Unit and Harvard University - Department of Economics
Downloads 259 (76,513)
Citation 474

Abstract:

14.

The Dark Side of Internal Capital Markets Ii: Evidence from Diversified Conglomerates

NBER Working Paper No. w6352
Number of pages: 38 Posted: 27 Jun 2000
David S. Scharfstein
Harvard Business School - Finance Unit
Downloads 166 (140,466)
Citation 122

Abstract:

15.

Anatomy of Financial Distress: An Examination of Junk-Bond Issuers

NBER Working Paper No. w3942
Number of pages: 41 Posted: 27 Apr 2000
Paul Asquith, Robert H. Gertner and David S. Scharfstein
Massachusetts Institute of Technology (MIT) - Economics, Finance, Accounting (EFA), University of Chicago - Finance and Harvard Business School - Finance Unit
Downloads 151 (151,799)
Citation 170

Abstract:

16.

Evidence on the Dark Side of Internal Capital Markets

Downloads 148 (166,638)
Citation 43

Evidence on the Dark Side of Internal Capital Markets

Review of Financial Studies (RFS), Forthcoming, Marshall School of Business Working Paper No. FBE 05-10
Number of pages: 30 Posted: 20 Nov 2009 Last Revised: 23 Feb 2010
Oguzhan Ozbas and David S. Scharfstein
University of Southern California - Marshall School of Business - Finance and Business Economics Department and Harvard Business School - Finance Unit
Downloads 148 (166,899)
Citation 43

Abstract:

Evidence on the Dark Side of Internal Capital Markets

The Review of Financial Studies, Vol. 23, Issue 2, pp. 581-599, 2009
Posted: 01 Feb 2010
Oguzhan Ozbas and David S. Scharfstein
University of Southern California - Marshall School of Business - Finance and Business Economics Department and Harvard Business School - Finance Unit

Abstract:

D21, D23, G31

17.

Venture Capital Investment Cycles: The Impact of Public Markets

NBER Working Paper No. w11385
Number of pages: 40 Posted: 04 Jul 2005 Last Revised: 12 Aug 2010
Paul A. Gompers, Anna Kovner, Josh Lerner and David S. Scharfstein
Harvard Business School - Finance Unit, Federal Reserve Bank of New York, Harvard Business School - Finance Unit and Harvard Business School - Finance Unit
Downloads 144 (170,459)
Citation 64

Abstract:

18.

The Choice between Public and Private Debt: An Analysis of Post-Deregulation Corporate Financing in Japan

NBER Working Paper No. w4421
Number of pages: 47 Posted: 06 Jul 2004 Last Revised: 16 Aug 2010
Takeo Hoshi, Anil K. Kashyap and David S. Scharfstein
University of California at San Diego, University of Chicago, Booth School of Business and Harvard Business School - Finance Unit
Downloads 125 (190,764)
Citation 92

Abstract:

19.

Herd on the Street: Informational Inefficiencies in a Market with Short-Term Speculation

NBER Working Paper No. w3250
Number of pages: 35 Posted: 15 Jun 2001
Kenneth Froot, David S. Scharfstein and Jeremy C. Stein
National Bureau of Economic Research (NBER), Harvard Business School - Finance Unit and Harvard University - Department of Economics
Downloads 114 (192,009)
Citation 129

Abstract:

20.

Entrepreneurship in Equilibrium

Downloads 113 (205,872)
Citation 31

Entrepreneurship in Equilibrium

NBER Working Paper No. w9001
Number of pages: 40 Posted: 13 Jun 2002
Denis Gromb and David S. Scharfstein
London Business School and Harvard Business School - Finance Unit
Downloads 76 (269,695)
Citation 31

Abstract:

Entrepreneurship in Equilibrium

CEPR Discussion Paper No. 3652
Number of pages: 33 Posted: 07 Jan 2003
Denis Gromb and David S. Scharfstein
London Business School and Harvard Business School - Finance Unit
Downloads 37 (381,230)
Citation 31
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Abstract:

Entrepreneurship, venture capital, incentives

21.

Internal Versus External Capital Markets

NBER Working Paper No. w4776
Number of pages: 23 Posted: 27 Jul 2010
Robert H. Gertner, David S. Scharfstein and Jeremy C. Stein
University of Chicago - Finance, Harvard Business School - Finance Unit and Harvard University - Department of Economics
Downloads 106 (215,621)
Citation 140

Abstract:

22.

The Dark Side of Internal Capital Markets: Divisional Rent-Seeking and Inefficient Investment

NBER Working Paper No. w5969
Number of pages: 40 Posted: 27 Jun 2000
David S. Scharfstein and Jeremy C. Stein
Harvard Business School - Finance Unit and Harvard University - Department of Economics
Downloads 83 (237,340)
Citation 303

Abstract:

23.

Bank Monitoring and Investment: Evidence from the Changing Structure of Japanese Corporate Banking Relationships

NBER Working Paper No. w3079
Number of pages: 43 Posted: 27 Apr 2000
Takeo Hoshi, Anil K. Kashyap and David S. Scharfstein
University of California at San Diego, University of Chicago, Booth School of Business and Harvard Business School - Finance Unit
Downloads 74 (257,170)
Citation 64

Abstract:

24.

A Theory of Workouts and the Effects of Reorganization Law

NBER Working Paper No. t0103
Number of pages: 42 Posted: 28 Dec 2006
Robert H. Gertner and David S. Scharfstein
University of Chicago - Finance and Harvard Business School - Finance Unit
Downloads 53 (296,045)
Citation 143

Abstract:

25.

Capital Market Imperfections and Countercyclical Markups: Theory and Evidence

NBER Working Paper No. w4614
Number of pages: 47 Posted: 22 Jul 2000 Last Revised: 16 Aug 2010
Judith A. Chevalier and David S. Scharfstein
Yale School of Management and Harvard Business School - Finance Unit
Downloads 52 (325,212)
Citation 85

Abstract:

26.

The Role of Banks in Reducing the Costs of Financial Distress in Japan

NBER Working Paper No. w3435
Number of pages: 41 Posted: 07 Jan 2008
Takeo Hoshi, Anil K. Kashyap and David S. Scharfstein
University of California at San Diego, University of Chicago, Booth School of Business and Harvard Business School - Finance Unit
Downloads 44 (337,083)
Citation 200

Abstract:

27.

Managed Care Provider Volume

NBER Working Paper No. w6523
Number of pages: 30 Posted: 05 Sep 2000
Sarah Feldman and David S. Scharfstein
Harvard University - Brigham and Women's Hospital and Harvard Business School - Finance Unit
Downloads 23 (413,838)

Abstract:

28.

Ldc Debt: Forgiveness, Indexation, and Investment Incentives

NBER Working Paper No. w2541
Number of pages: 27 Posted: 08 Jun 2004
Kenneth Froot, David S. Scharfstein and Jeremy C. Stein
National Bureau of Economic Research (NBER), Harvard Business School - Finance Unit and Harvard University - Department of Economics
Downloads 21 (428,572)
Citation 17

Abstract:

29.

The Squam Lake Report: Fixing the Financial System

Journal of Applied Corporate Finance, Vol. 22, Issue 3, pp. 8-21, Summer 2010
Number of pages: 16 Posted: 04 Oct 2010
Kenneth R. French, Martin Neil Baily, John Y. Campbell, John H. Cochrane, Douglas W. Diamond, Darrell Duffie, Anil K. Kashyap, Frederic S. Mishkin, Raghuram G. Rajan, David S. Scharfstein, Robert J. Shiller, Hyun Song Shin, Matthew J. Slaughter, Jeremy C. Stein and René M. Stulz
Tuck School of Business at Dartmouth, Institute for International Economics, Harvard University - Department of Economics, Hoover Institution, University of Chicago - Booth School of Business, Stanford University - Graduate School of Business, University of Chicago, Booth School of Business, Columbia Business School - Finance and Economics, University of Chicago - Booth School of Business, Harvard Business School - Finance Unit, Yale University - Cowles Foundation, Bank for International Settlements, Tuck School of Business at Dartmouth, Harvard University - Department of Economics and Ohio State University (OSU) - Department of Finance
Downloads 7 (515,694)
Citation 19
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Abstract:

30.

Life Sciences Roundtable: Strategy and Financing

Journal of Applied Corporate Finance, Vol. 21, Issue 2, pp. 8-35, Spring 2009
Posted: 04 Jul 2009
Judy Lewent, Joe Fuller, David S. Scharfstein, Rick Passov, Cathrin Petty and Charles E. Simmons Sr.
affiliation not provided to SSRN, affiliation not provided to SSRN, Harvard Business School - Finance Unit, affiliation not provided to SSRN, affiliation not provided to SSRN and affiliation not provided to SSRN
Downloads 6 (520,231)
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Abstract:

31.

Concentration in Mortgage Lending, Refinancing Activity and Mortgage Rates

NBER Working Paper No. w19156
Number of pages: 59 Posted: 21 Jun 2013
David S. Scharfstein and Aditya Sunderam
Harvard Business School - Finance Unit and Harvard University
Downloads 2 (529,228)

Abstract:

32.

Fiscal Risk and the Portfolio of Government Programs

NBER Working Paper No. w22763
Number of pages: 40 Posted: 24 Oct 2016 Last Revised: 29 Oct 2016
Samuel Gregory Hanson, David S. Scharfstein and Aditya Sunderam
Harvard Business School, Harvard Business School - Finance Unit and Harvard University
Downloads 0 (520,231)
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Abstract:

33.

The Stock Market and Bank Risk-Taking

NBER Working Paper No. w22689
Number of pages: 59 Posted: 10 Oct 2016
Antonio Falato and David S. Scharfstein
Federal Reserve Board and Harvard Business School - Finance Unit
Downloads 0 (501,119)
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Abstract:

34.

An Evaluation of Money Market Fund Reform Proposals

IMF Economic Review, Vol. 63, Issue 4, pp. 984-1023, 2015
Number of pages: 40 Posted: 28 Jan 2016
Samuel Gregory Hanson, David S. Scharfstein and Adi Sunderam
Harvard Business School, Harvard Business School - Finance Unit and Harvard Business School
Downloads 0 (551,212)
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Abstract:

35.

Aligning Incentives at Systemically Important Financial Institutions: A Proposal by the Squam Lake Group

Journal of Applied Corporate Finance, Vol. 25, Issue 4, pp. 37-40, 2013
Number of pages: 6 Posted: 23 Dec 2013
Martin N. Baily, John Y. Campbell, John H. Cochrane, Douglas W. Diamond, Darrell Duffie, Kenneth R. French, Anil K. Kashyap, Frederic S. Mishkin, David S. Scharfstein, Robert J. Shiller, Matthew J. Slaughter, Hyun Song Shin and René M. Stulz
Brookings Institution, Harvard University - Department of Economics, Hoover Institution, University of Chicago - Booth School of Business, Stanford University, Tuck School of Business at Dartmouth, University of Chicago, Booth School of Business, Columbia Business School - Finance and Economics, Harvard Business School - Finance Unit, Yale University - Cowles Foundation, Tuck School of Business at Dartmouth, Bank for International Settlements and Ohio State University (OSU) - Department of Finance
Downloads 0 (565,595)
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Abstract:

36.

Momentive Performance Materials, Inc.

Harvard Business School Finance Case No. 210-081
Posted: 07 Feb 2012
Victoria Ivashina and David S. Scharfstein
Harvard University and Harvard Business School - Finance Unit

Abstract:

37.

Entrepreneurial Spawning: Public Corporations and the Genesis of New Ventures, 1986 to 1999

University of Illinois at Urbana-Champaign's Academy for Entrepreneurial Leadership Historical Research Reference in Entrepreneurship
Posted: 17 Nov 2009
David S. Scharfstein, Paul A. Gompers and Josh Lerner
Harvard Business School - Finance Unit, Harvard Business School - Finance Unit and Harvard Business School - Finance Unit

Abstract:

VentureOne dataset, Patent citations, Entrepreneurial activity, Corporate spinoffs, Entrepreneurial environment, Firm diversification, Venture capital, Startups

38.

Pilgrim Assurance Building

HBS Case No.: 9-206-078
Posted: 22 Sep 2008
Robin M. Greenwood, David S. Scharfstein and Arthur I. Segel
Harvard Business School - Finance Unit, Harvard Business School - Finance Unit and Harvard University - Entrepreneurial Management Unit

Abstract:

39.

Learning about Internal Capital Markets from Corporate Spin-offs

The Journal of Finance, Vol. 57, pp. 2479-2506, 2002
Posted: 27 Aug 2003
Robert H. Gertner, Eric A. Powers and David S. Scharfstein
University of Chicago - Finance, University of South Carolina - Darla Moore School of Business and Harvard Business School - Finance Unit

Abstract:

40.

Optimal Debt Structure and the Number of Creditors

J. OF POLITICAL ECONOMY, February 1996
Posted: 03 Jul 1998
Patrick Bolton and David S. Scharfstein
Columbia Business School - Department of Economics and Harvard Business School - Finance Unit

Abstract:

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