David S. Scharfstein

Edmund Cogswell Converse Professor of Finance and Banking

David Scharfstein is the Edmund Cogswell Converse Professor of Finance and Banking at Harvard Business School. He has published on a broad range of topics in corporate finance, including theoretical and empirical work on investment and financing behavior, risk management, financial distress, capital allocation, and venture capital.  His current research focuses on financial intermediation and financial regulation, including research on housing finance, bank funding, money market funds, the growth of the financial sector, and government risk management.  Scharfstein is a Research Associate of the National Bureau of Economic Research, a member of the Financial Advisory Roundtable of the Federal Reserve Bank of New York, and a co-chair of Harvard’s Ph.D. program in Business Economics. He has served as a Director of the American Finance Association, Associate Editor of the Journal of Finance and Review of Financial Studies, and Editor of the Rand Journal of Economics.  During 2009-2010, Scharfstein was Senior Advisor to the U.S. Treasury Secretary, working on policy related to the financial crisis. From 1987- 2003 he was a member of the finance faculty of the MIT Sloan School of Management. Scharfstein received a Ph.D. in Economics from MIT in 1986 and an A.B. from Princeton University in 1982.
David Scharfstein is the Edmund Cogswell Converse Professor of Finance and Banking at Harvard Business School. He has published on a broad range of topics in corporate finance, including theoretical and empirical work on investment and financing behavior, risk management, financial distress, capital allocation, and venture capital.  His current research focuses on financial intermediation and financial regulation, including research on housing finance, bank funding, money market funds, the growth of the financial sector, and government risk management.  Scharfstein is a Research Associate of the National Bureau of Economic Research, a member of the Financial Advisory Roundtable of the Federal Reserve Bank of New York, and a co-chair of Harvard’s Ph.D. program in Business Economics. He has served as a Director of the American Finance Association, Associate Editor of the Journal of Finance and Review of Financial Studies, and Editor of the Rand Journal of Economics.  During 2009-2010, Scharfstein was Senior Advisor to the U.S. Treasury Secretary, working on policy related to the financial crisis. From 1987- 2003 he was a member of the finance faculty of the MIT Sloan School of Management. Scharfstein received a Ph.D. in Economics from MIT in 1986 and an A.B. from Princeton University in 1982.

Opinion Pieces & Testimony

Opinion Pieces:

Scharfstein, David S., and Jeremy C. Stein. "This Bailout Doesn’t Pay Dividends." The New York Times, October 20, 2008.

Scharfstein, David, and Jeremy Stein. "Basel Needs a Firm Hand and Fewer Delays." The Financial Times, September 13, 2010.

Testimony on "TARP Oversight: Is TARP Working for Main Street?" before the Subcommittee on Financial Institutions and Consumer Credit Committee on Financial Services. U.S. House of Representatives, March 4, 2009.

Testimony before the Senate Banking Committee, Hearing on Perspectives on Money Market Mutal Fund Reforms, June 21, 2012