Finance

The field of finance covers the economics of claims on resources. Financial economists study the valuation of these claims, the markets in which they are traded, and their use by individuals, corporations, and the society at large.

At Stanford GSB, finance faculty and doctoral students study a wide spectrum of financial topics, including the pricing and valuation of assets, the behavior of financial markets, and the structure and financial decision-making of firms and financial intermediaries.

Investigation of issues arising in these areas is pursued both through the development of theoretical models and through the empirical testing of those models. The PhD Program is designed to give students a good understanding of the methods used in theoretical modeling and empirical testing.

Preparation and Qualifications

All students are required to have, or to obtain during their first year, mathematical skills at the level of one year of calculus and one course each in linear algebra and matrix theory, theory of probability, and statistical inference.

Students are expected to have familiarity with programming and data analysis using tools and software such as MATLAB, Stata, R, Python, or Julia, or to correct any deficiencies before enrolling at Stanford.

The PhD program in finance involves a great deal of very hard work, and there is keen competition for admission. For both these reasons, the faculty is selective in offering admission. Prospective applicants must have an aptitude for quantitative work and be at ease in handling formal models. A strong background in economics and college-level mathematics is desirable.

It is particularly important to realize that a PhD in finance is not a higher-level MBA, but an advanced, academically oriented degree in financial economics, with a reflective and analytical, rather than operational, viewpoint.

Faculty in Finance

Anat R. Admati

Juliane Begenau

Associate Professor

Jonathan B. Berk

Michael Blank

Assistant Professor

Greg Buchak

Associate Professor

Antonio Coppola

Assistant Professor

Darrell Duffie

Steven Grenadier

Zhiguo He

Benjamin Hébert

Associate Professor

Naz Koont

Assistant Professor

Arvind Krishnamurthy

Hanno Lustig

Matteo Maggiori

Paul Pfleiderer

Joshua D. Rauh

Claudia Robles-Garcia

Assistant Professor

Amit Seru

Ilya A. Strebulaev

Vikrant Vig

Chenzi Xu

Assistant Professor

Jeffrey Zwiebel

Emeriti Faculty

Robert L. Joss

Professor and Dean Emeritus

George G.C. Parker

Professor Emeritus

Myron S. Scholes

Professor Emeritus

William F. Sharpe

Professor Emeritus

Kenneth J. Singleton

Professor Emeritus

James C. Van Horne

Professor Emeritus Recent Publications in Finance Publication Search

Dollar Safety and the Global Financial Cycle

Zhengyang Jiang, Arvind Krishnamurthy, Hanno Lustig The Review of Economic Studies October 2024 Vol. 91 Issue 5

Monetary Tightening and U.S. Bank Fragility in 2023: Mark-to-Market Losses and Uninsured Depositor Runs?

Erica Xuewei Jiang, Gregor Matvos, Tomasz Piskorski, Amit Seru Journal of Financial Economics September 2024 Vol. 159

Trading stocks builds financial confidence and compresses the gender gap

Saumitra Jha, Moses Shayo Economic Journal July 2024 Recent Insights by Stanford Business Idea Stories Opensearch August 20, 2024

A “Grumpy Economist” Weighs in on Inflation’s Causes — And Its Cures

What drove up prices? What can the Fed do (or not)? And how could the next president affect inflation?

July 18, 2024

The Surprising Economic Upside to Money in U.S. Politics

As millions pour into another election cycle, Greg Buchak details the leveling effects of unlimited campaign spending.

June 05, 2024

Your Summer 2024 Podcast Playlist

Dive into these thought-provoking, research-driven, and leadership-inspired podcast episodes.

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