Steven Neil Kaplan

Steven Neil Kaplan conducts research on issues in private equity and entrepreneurial finance, corporate governance, mergers and acquisitions, and corporate finance. He has published papers in a number of academic and business journals. He has testified to the U.S. Senate Finance Committee and the U.S. House Financial Services Committee about his research. Kaplan is a research associate at the National Bureau of Economic Research and an associate editor of the Journal of Finance and the Journal of Financial Economics.

Kaplan teaches advanced MBA and executive courses in entrepreneurial finance and private equity, corporate financial management, corporate governance, and wealth management. He has been one of the top-rated teachers at Chicago Booth in Business Week's bi-annual surveys since 1992. BusinessWeek named him one of the top 12 business school teachers in the country.

Kaplan serves on the board of directors of Accretive Health, Columbia Acorn Funds, and Morningstar. He also serves as a director of the Illinois Venture Capital Association and the University of Chicago Laboratory Schools, and as the academic dean of the Kauffman Fellows Program, an educational and mentoring program for new venture capitalists. He has been a member of the faculty since 1988.

He received his AB, summa cum laude, in Applied Mathematics and Economics from Harvard College and earned a PhD in Business Economics from Harvard University.

Selected Publications

With Berk Sensoy and Per Stromberg, "Should Investors Bet on the Jockey or the Horse?," Journal of Finance (2009).

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With Antoinette Schoar, "Private Equity Performance: Returns, Persistence and Capital Flows," Journal of Finance (2005).

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With Per Strömberg, "Financial Contracting Theory Meets the Real World: Evidence From Venture Capital Contracts," Review of Economic Studies (2003).

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With Bengt Holmström, "Corporate Governance and Takeovers in the U.S.: Making Sense of the '80s and '90s," Journal of Economic Perspectives (2001).

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"The Effects of Management Buyouts on Operations and Value," Journal of Financial Economics (1989).

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