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

39

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26,552

CITATIONS
Rank 106

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Top 106

in Total Papers Citations

2,541

Scholarly Papers (39)

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1.

Bank Lending During the Financial Crisis of 2008

EFA 2009 Bergen Meetings Paper, Journal of Financial Economics (JFE), Vol. 97, 319-338, 2010
Number of pages: 45 Posted: 10 Nov 2008 Last Revised: 15 Feb 2018
Victoria Ivashina and David S. Scharfstein
Harvard University and Harvard Business School - Finance Unit
Downloads 10,659 (370)
Citation 168

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Bank Lending, Financial Crisis

2.

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

Downloads 5,037 ( 1,421)
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 4,842 (1,504)
Citation 22

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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 Last Revised: 29 Oct 2014
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 195 (151,759)
Citation 22

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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, Dartmouth College - Tuck School of Business, University of Chicago, Booth School of Business, Columbia Business School - Finance and Economics, Harvard Business School - Finance Unit, Yale University - Cowles Foundation, Dartmouth College - Tuck School of Business, Bank for International Settlements (BIS), Harvard University - Department of Economics and Ohio State University (OSU) - Department of Finance
Downloads 1,699 (9,207)

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4.

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 1,523 (10,971)
Citation 12

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Banks, Credit, Syndicated loans

5.

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 1,199 (15,995)
Citation 65

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6.

Dollar Funding and the Lending Behavior of Global Banks

Downloads 865 ( 25,977)
Citation 8

Dollar Funding and the Lending Behavior of Global Banks

Quarterly Journal of Economics, 130 (3), 1241-1281, 2015
Number of pages: 46 Posted: 06 Nov 2012 Last Revised: 15 Feb 2018
Victoria Ivashina, David S. Scharfstein and Jeremy C. Stein
Harvard University, Harvard Business School - Finance Unit and Harvard University - Department of Economics
Downloads 690 (34,964)
Citation 8

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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 170 (171,971)
Citation 8

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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 (624,668)
Citation 8

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7.

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

Downloads 762 ( 31,003)
Citation 97

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 631 (39,385)
Citation 97

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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 Last Revised: 30 Oct 2014
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 131 (213,879)
Citation 97

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8.

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, Dartmouth College - Tuck School of Business, University of Chicago, Booth School of Business, Columbia Business School - Finance and Economics, Harvard Business School - Finance Unit, Yale University - Cowles Foundation, Dartmouth College - Tuck School of Business, Bank for International Settlements (BIS) and Ohio State University (OSU) - Department of Finance
Downloads 677 (36,410)

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

9.

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 655 (38,059)
Citation 17

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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 622 (40,757)
Citation 4

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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 451 (61,428)
Citation 6

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

12.

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 376 (76,231)
Citation 476

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13.

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

Downloads 374 ( 76,717)
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 300 (97,910)
Citation 24

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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 Last Revised: 07 Feb 2014
Ilan Guedj and David S. Scharfstein
Bates White, LLC and Harvard Business School - Finance Unit
Downloads 74 (315,532)
Citation 24

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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 Last Revised: 18 May 2001
David S. Scharfstein
Harvard Business School - Finance Unit
Downloads 184 (160,125)
Citation 121

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15.

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 171 (170,952)
Citation 66

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16.

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

NBER Working Paper No. w3942
Number of pages: 41 Posted: 27 Apr 2000 Last Revised: 03 Jan 2002
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 167 (174,559)
Citation 172

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17.

Evidence on the Dark Side of Internal Capital Markets

Downloads 154 (186,891)

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 154 (187,237)
Citation 43

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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:

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D21, D23, G31

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 139 (203,225)
Citation 92

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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 Last Revised: 31 Aug 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 136 (206,797)
Citation 129

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20.

Entrepreneurship in Equilibrium

Downloads 115 (235,120)
Citation 31

Entrepreneurship in Equilibrium

NBER Working Paper No. w9001
Number of pages: 40 Posted: 13 Jun 2002 Last Revised: 27 Oct 2010
Denis Gromb and David S. Scharfstein
HEC Paris and Harvard Business School - Finance Unit
Downloads 78 (305,808)
Citation 31

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Entrepreneurship in Equilibrium

CEPR Discussion Paper No. 3652
Number of pages: 33 Posted: 07 Jan 2003
Denis Gromb and David S. Scharfstein
HEC Paris and Harvard Business School - Finance Unit
Downloads 37 (436,168)
Citation 31
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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 111 (241,111)
Citation 139

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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 Last Revised: 03 Apr 2008
David S. Scharfstein and Jeremy C. Stein
Harvard Business School - Finance Unit and Harvard University - Department of Economics
Downloads 100 (259,340)
Citation 303

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23.

A Theory of Workouts and the Effects of Reorganization Law

NBER Working Paper No. t0103
Number of pages: 42 Posted: 28 Dec 2006 Last Revised: 03 Jan 2007
Robert H. Gertner and David S. Scharfstein
University of Chicago - Finance and Harvard Business School - Finance Unit
Downloads 86 (285,513)
Citation 144

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24.

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 Last Revised: 05 Jan 2002
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 82 (293,974)
Citation 64

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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 55 (363,725)
Citation 85

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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 54 (366,890)
Citation 202

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27.

Managed Care Provider Volume

NBER Working Paper No. w6523
Number of pages: 30 Posted: 05 Sep 2000 Last Revised: 18 May 2001
Sarah Feldman and David S. Scharfstein
Harvard University - Brigham and Women's Hospital and Harvard Business School - Finance Unit
Downloads 27 (471,261)

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28.

Ldc Debt: Forgiveness, Indexation, and Investment Incentives

NBER Working Paper No. w2541
Number of pages: 27 Posted: 08 Jun 2004 Last Revised: 20 Sep 2008
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 25 (481,839)
Citation 17

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29.

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
Board of Governors of the Federal Reserve System and Harvard Business School - Finance Unit
Downloads 23 (492,726)

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30.

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 7 (585,381)

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31.

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
Dartmouth College - Tuck School of Business, 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 (BIS), Dartmouth College - Tuck School of Business, Harvard University - Department of Economics and Ohio State University (OSU) - Department of Finance
Downloads 7 (585,381)
Citation 20
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32.

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
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 (591,573)
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33.

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 4 (604,234)

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34.

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, Dartmouth College - Tuck School of Business, University of Chicago, Booth School of Business, Columbia Business School - Finance and Economics, Harvard Business School - Finance Unit, Yale University - Cowles Foundation, Dartmouth College - Tuck School of Business, Bank for International Settlements (BIS) and Ohio State University (OSU) - Department of Finance
Downloads 0 (650,420)
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35.

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:

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36.

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:

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

37.

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

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38.

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

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39.

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

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