Details about David Scharfstein

Access statistics for papers by David Scharfstein.

Last updated 2023-03-11. Update your information in the RePEc Author Service.

Short-id: psc177

Working Papers

2023

1. Applications or Approvals: What Drives Racial Disparities in the Paycheck Protection Program?
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)

2022

2. Racial Disparities in the Paycheck Protection Program
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (8)

2016

3. Fiscal Risk and the Portfolio of Government Programs
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)
4. The Stock Market and Bank Risk-Taking
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (9)

2013

5. Concentration in Mortgage Lending, Refinancing Activity and Mortgage Rates
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (20)

2012

6. Dollar Funding and the Lending Behavior of Global Banks
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (42)
   Also in Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (2012) View citations (30)

2006

7. Skill vs. Luck in Entrepreneurship and Venture Capital: Evidence from Serial Entrepreneurs
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (50)

2005

8. Venture Capital Investment Cycles: The Impact of Public Markets
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (14)
   See also Journal Article Venture capital investment cycles: The impact of public markets, Journal of Financial Economics, Elsevier (2008) View citations (172) (2008)

2004

9. Organizational Scope and Investment: Evidence from the Drug Development Strategies and Performance of Biopharmaceutical Firms
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (51)

2003

10. Entrepreneurial Spawning: Public Corporations and the Genesis of New Ventures, 1986-1999
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (15)
    See also Journal Article Entrepreneurial Spawning: Public Corporations and the Genesis of New Ventures, 1986 to 1999, Journal of Finance, American Finance Association (2005) View citations (228) (2005)

2002

11. Entrepreneurship in Equilibrium
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (46)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2002) View citations (44)

1998

12. Managed Care Provider Volume
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (2)
13. The Dark Side of Internal Capital Markets II: Evidence from Diversified Conglomerates
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (155)

1997

14. The Dark Side of Internal Capital Markets: Divisional Rent-Seeking and Inefficient Investment
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (51)
    See also Journal Article The Dark Side of Internal Capital Markets: Divisional Rent‐Seeking and Inefficient Investment, Journal of Finance, American Finance Association (2000) View citations (638) (2000)

1994

15. Capital Market Imperfections and Countercyclical Markups: Theory and Evidence
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (26)
    See also Journal Article Capital-Market Imperfections and Countercyclical Markups: Theory and Evidence, American Economic Review, American Economic Association (1996) View citations (279) (1996)
16. Internal versus External Capital Markets
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (273)

1993

17. Optimal Debt Structure with Multiple Creditors
    CEPR Financial Markets Paper, European Science Foundation Network in Financial Markets, c/o C.E.P.R, 33 Great Sutton Street, London EC1V 0DX. View citations (15)
18. The Choice Between Public and Private Debt: An Analysis of Post-Deregulation Corporate Financing in Japan
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (126)

1992

19. Risk Management: Coordinating Corporate Investment and Financing Policies
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (31)
    See also Journal Article Risk Management: Coordinating Corporate Investment and Financing Policies, Journal of Finance, American Finance Association (1993) View citations (1170) (1993)

1991

20. A Theory of Workouts and the Effects of Reorganization Law
    NBER Technical Working Papers, National Bureau of Economic Research, Inc View citations (269)
    See also Journal Article A Theory of Workouts and the Effects of Reorganization Law, Journal of Finance, American Finance Association (1991) View citations (283) (1991)
21. Anatomy of Financial Distress: An Examination of Junk-Bond Issuers
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (10)

1990

22. Herd on the Street: Informational Inefficiencies in a Market with Short-Term Speculation
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (20)
23. The Role of Banks in Reducing the Costs of Financial Distress in Japan
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (513)
    See also Journal Article The role of banks in reducing the costs of financial distress in Japan, Journal of Financial Economics, Elsevier (1990) View citations (545) (1990)
24. The role of banks in reducing financial distress in Japan
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (53)

1989

25. Bank Monitoring and Investment: Evidence from the Changing Structure of Japanese Corporate Banking Relationships
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (19)
    See also Chapter Bank Monitoring and Investment: Evidence from the Changing Structure of Japanese Corporate Banking Relationships, NBER Chapters, National Bureau of Economic Research, Inc (1990) View citations (86) (1990)
26. Bank monitoring and investment: evidence from the changing structure of Japanese corporate banking relations
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (33)
27. Corporate structure, liquidity, and investment: evidence from Japanese industrial groups
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (109)

1988

28. Herd behavior and investment
    Working papers, Massachusetts Institute of Technology (MIT), Sloan School of Management View citations (6)
    See also Journal Article Herd Behavior and Investment, American Economic Review, American Economic Association (1990) View citations (1135) (1990)
29. LDC Debt: Forgiveness, Indexation, and Investment Incentives
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (10)

1987

30. Simultaneous Signaling to the Capital and Product Markets
    Working papers, Massachusetts Institute of Technology (MIT), Department of Economics View citations (2)
    Also in Working papers, Massachusetts Institute of Technology (MIT), Sloan School of Management (1987) View citations (7)
    See also Journal Article Simultaneous Signalling to the Capital and Product Markets, RAND Journal of Economics, The RAND Corporation (1988) View citations (86) (1988)

Journal Articles

2013

1. Aligning Incentives at Systemically Important Financial Institutions: A Proposal by the Squam Lake Group
   Journal of Applied Corporate Finance, 2013, 25, (4), 37-40 View citations (6)
2. The Growth of Finance
   Journal of Economic Perspectives, 2013, 27, (2), 3-28 View citations (163)

2010

3. Bank lending during the financial crisis of 2008
   Journal of Financial Economics, 2010, 97, (3), 319-338 View citations (1175)
4. Evidence on the Dark Side of Internal Capital Markets
   The Review of Financial Studies, 2010, 23, (2), 581-599 View citations (79)
5. Loan Syndication and Credit Cycles
   American Economic Review, 2010, 100, (2), 57-61 View citations (80)
6. Performance persistence in entrepreneurship
   Journal of Financial Economics, 2010, 96, (1), 18-32 View citations (181)
7. The Squam Lake Report: Fixing the Financial System
   Journal of Applied Corporate Finance, 2010, 22, (3), 8-21 View citations (120)

2009

8. Life Sciences Roundtable: Strategy and Financing
   Journal of Applied Corporate Finance, 2009, 21, (2), 8-35

2008

9. Venture capital investment cycles: The impact of public markets
   Journal of Financial Economics, 2008, 87, (1), 1-23 View citations (172)
   See also Working Paper Venture Capital Investment Cycles: The Impact of Public Markets, NBER Working Papers (2005) View citations (14) (2005)

2005

10. Entrepreneurial Spawning: Public Corporations and the Genesis of New Ventures, 1986 to 1999
    Journal of Finance, 2005, 60, (2), 577-614 View citations (228)
    See also Working Paper Entrepreneurial Spawning: Public Corporations and the Genesis of New Ventures, 1986-1999, NBER Working Papers (2003) View citations (15) (2003)

2001

11. Do Firm Boundaries Matter?
    American Economic Review, 2001, 91, (2), 195-199 View citations (35)

2000

12. Correspondence
    Journal of Economic Perspectives, 2000, 14, (2), 233-239
13. Herd Behavior and Investment: Reply
    American Economic Review, 2000, 90, (3), 705-706 View citations (14)
14. The Dark Side of Internal Capital Markets: Divisional Rent‐Seeking and Inefficient Investment
    Journal of Finance, 2000, 55, (6), 2537-2564 View citations (638)
    See also Working Paper The Dark Side of Internal Capital Markets: Divisional Rent-Seeking and Inefficient Investment, NBER Working Papers (1997) View citations (51) (1997)

1998

15. Corporate Finance, the Theory of the Firm, and Organizations
    Journal of Economic Perspectives, 1998, 12, (4), 95-114 View citations (71)

1996

16. Capital-Market Imperfections and Countercyclical Markups: Theory and Evidence
    American Economic Review, 1996, 86, (4), 703-25 View citations (279)
    See also Working Paper Capital Market Imperfections and Countercyclical Markups: Theory and Evidence, NBER Working Papers (1994) View citations (26) (1994)
17. Optimal Debt Structure and the Number of Creditors
    Journal of Political Economy, 1996, 104, (1), 1-25 View citations (554)

1995

18. Liquidity Constraints and the Cyclical Behavior of Markups
    American Economic Review, 1995, 85, (2), 390-96 View citations (42)

1994

19. A FRAMEWORK FOR RISK MANAGEMENT
    Journal of Applied Corporate Finance, 1994, 7, (3), 22-33 View citations (52)

1993

20. Risk Management: Coordinating Corporate Investment and Financing Policies
    Journal of Finance, 1993, 48, (5), 1629-58 View citations (1170)
    See also Working Paper Risk Management: Coordinating Corporate Investment and Financing Policies, NBER Working Papers (1992) View citations (31) (1992)

1991

21. A Theory of Workouts and the Effects of Reorganization Law
    Journal of Finance, 1991, 46, (4), 1189-1222 View citations (283)
    See also Working Paper A Theory of Workouts and the Effects of Reorganization Law, NBER Technical Working Papers (1991) View citations (269) (1991)

1990

22. A Theory of Predation Based on Agency Problems in Financial Contracting
    American Economic Review, 1990, 80, (1), 93-106 View citations (700)
23. Herd Behavior and Investment
    American Economic Review, 1990, 80, (3), 465-79 View citations (1135)
    See also Working Paper Herd behavior and investment, Working papers (1988) View citations (6) (1988)
24. Shareholder-Value Maximization and Product-Market Competition
    The Review of Financial Studies, 1990, 3, (3), 367-91 View citations (26)
25. The role of banks in reducing the costs of financial distress in Japan
    Journal of Financial Economics, 1990, 27, (1), 67-88 View citations (545)
    See also Working Paper The Role of Banks in Reducing the Costs of Financial Distress in Japan, NBER Working Papers (1990) View citations (513) (1990)

1988

26. Product-Market Competition and Managerial Slack
    RAND Journal of Economics, 1988, 19, (1), 147-155 View citations (238)
27. Simultaneous Signalling to the Capital and Product Markets
    RAND Journal of Economics, 1988, 19, (2), 173-190 View citations (86)
    See also Working Paper Simultaneous Signaling to the Capital and Product Markets, Working papers (1987) View citations (2) (1987)

1984

28. A Policy to Prevent Rational Test-Market Predation
    RAND Journal of Economics, 1984, 15, (2), 229-243 View citations (6)

Books

2002

1. Symposium on the Industrial Organization of Health Care
   NBER Books, National Bureau of Economic Research, Inc

Chapters

2012

1. Internal Capital Markets
   A chapter in The Handbook of Organizational Economics, 2012 View citations (1)

2000

2. Managed Care and Provider Volume
   A chapter in The Changing Hospital Industry: Comparing Not-for-Profit and For-Profit Institutions, 2000, pp 229-248 View citations (1)

1993

3. Japanese Corporate Investment and Bank of Japan Guidance of Commercial Bank Lending
   A chapter in Japanese Monetary Policy, 1993, pp 63-94 View citations (40)

1990

4. Bank Monitoring and Investment: Evidence from the Changing Structure of Japanese Corporate Banking Relationships
   A chapter in Asymmetric Information, Corporate Finance, and Investment, 1990, pp 105-126 View citations (86)
   See also Working Paper Bank Monitoring and Investment: Evidence from the Changing Structure of Japanese Corporate Banking Relationships, National Bureau of Economic Research, Inc (1989) View citations (19) (1989)