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Steve Kaplan conducts research on private equity, venture capital, entrepreneurial finance, corporate governance and corporate finance. He has published papers in a number of academic and business journals. Kaplan is a research associate at the National Bureau of Economic Research.

He is the co-creator of the Kaplan-Schoar PME (Public Market Equivalent) private equity benchmarking approach. A Fortune Magazine article referred to him as "probably the foremost private equity scholar in the galaxy.”

Kaplan teaches advanced MBA and executive courses in entrepreneurial finance and private equity, corporate finance, corporate governance, and wealth management. BusinessWeek named him one of the top 12 business school teachers in the country.

Professor Kaplan co-founded the entrepreneurship program at Booth. With his students, he helped start Booth’s business plan competition, the New Venture Challenge (NVC), which has included over 800 companies that have raised almost $1 billion and created over $8 billion in value including GrubHub, Braintree/Venmo and Simple Mills.

Kaplan serves on the board of Morningstar and several fund and company advisory boards. 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.

Research Interests

Private equity; venture capital; corporate governance; boards of directors; mergers and acquisitions; corporate finance.

Academic Areas

  • Entrepreneurship
  • Finance

Selected Publications

Working Papers

2023 - 2024 Course Schedule

Number Course Title Quarter
34101 Entrepreneurial Finance and Private Equity 2023 (Autumn)
34104 Special Topics in Entrepreneurship: Developing a New Venture (New Venture Challenge) 2024 (Spring)

Get Insights from Steven Neil Kaplan in Chicago Booth Review