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Luke Stein

  • Assistant Professor
Academic Division: Finance
CV
Luke Stein is an Assistant Professor of Finance at Babson College. He earned his PhD in Economics from Stanford University, and an AB in Applied Mathematics with a Citation in Japanese Language from Harvard University.

Prior to joining Babson, Dr. Stein taught finance and economics courses at the high school through PhD levels at Stanford University and Arizona State University.

His commitment to students has been widely awarded, including as Babson's 2022 "Graduate Professor of the Year," selected by the graduating class as the faculty member "who personifies teaching excellence at the graduate level and whose personal standards of quality and caring extend beyond the classroom." He has also received Stanford University's Gores Award, the university's "highest award for excellence in teaching." Dr. Stein is also a recognized leader in helping college faculty around the world implement technological solutions for effectively teaching remotely.

His main research interests lie at the intersection of corporate finance and labor economics, including work on financial history, entrepreneurial finance, financial uncertainty, and the economics of discrimination. He has published peer-reviewed papers in the Review of Financial Studies, Journal of Corporate Finance, and Economic Journal.

Dr. Stein worked in New York and Tokyo as a consultant on corporate strategy and private equity due diligence with Bain & Company. He also served on the Obama-Biden Presidential Transition Team, and in the Office of Strategic Initiatives at the New York City Department of Education.

Academic Degrees

  • Ph D, Stanford University
  • BA, Harvard University

Awards & Honors

  • 2022 — Deans’ Graduate Teaching Award, Babson College
  • 2022 — Thomas Kennedy Award for Teaching Excellence, Babson College
  • 2019 — Best Paper, University of Oregon Summer Finance Conference, University of Oregon Lundquist College of Business
  • 2019 — Dean’s Excellence in Research Summer Grant, W. P. Carey School of Business, Arizona State University
  • 2019 — Huizingh Outstanding Undergraduate Teacher Award, W. P. Carey School of Business, Arizona State University
  • 2012 — Walter J. Gores Faculty Achievement Award for Excellence in Teaching, Stanford University

Courses

  • Degree Courses 2024

    • FIN 6200 FINANCIAL DATA ANALYSIS AND PRACTICE

  • Degree Courses 2023

    • FIN 7200 INTRODUCTION TO FINANCIAL MANAGEMENT

Publications

Journal Articles

  • Stein, L.C., Yannelis, C. (2020). Financial Inclusion, Human Capital, and Wealth Accumulation: Evidence from the Freedman’s Savings Bank. Review of Financial Studies, The. Vol: 33, Issue: 11, Page: 5333--5377. Oxford University Press. link
  • Stein, L.C., Zhao, H. (2019). Independent executive directors: How distraction affects their advisory and monitoring roles. Journal of Corporate Finance. Vol: 56, Page: 199-223. link
  • Doleac, J.L., Stein, L.C. (2013). The Visible Hand: Race and Online Market Outcomes. The Economic Journal. Vol: 123, Issue: 572, Page: F469-F492. link

Presentations

  • The gendered impacts of perceived skin tone: Evidence from African-American siblings in 1870–1940 Abramitzky, R. Conway, J. Mill, R. Stein, L. Brown University Economics Department Seminar, Providence, RI (2024)
  • Racial discrimination in asset prices: Evidence from horse betting Barnes, S. Stein, L. Southwest Finance Association Annual Meeting, Las Vegas, NV (2024)
  • Racial discrimination in asset prices: Evidence from horse betting Barnes, S. Stein, L. Babson Research Day, Babson Park, MA (2024)
  • Racial discrimination in asset prices: Evidence from horse betting Barnes, S. Stein, L. BFRF Research Discussion Series, Babson Park, MA (2023)
  • Racial discrimination in asset prices: Evidence from horse betting Barnes, S. Stein, L. Financial Management Association Annual Meeting, Chicago, IL (2023)
  • Racial discrimination in asset prices: Evidence from horse betting Barnes, S. Stein, L. Lone Star Finance Conference, Houston, TX (2023)
  • The gendered impacts of perceived skin tone: Evidence from African-American siblings in 1870–1940 Abramitzky, R. Conway, J. Mill, R. Stein, L. NBER Development of the American Economy Summer Institute, Cambridge, MA (2023)
  • The gendered impacts of perceived skin tone: Evidence from African-American siblings in 1870–1940 Abramitzky, R. Conway, J. Mill, R. Stein, L. Babson Finance Brown Bag, Babson Park, MA (2023)
  • The gendered impacts of perceived skin tone: Evidence from African-American siblings in 1870–1940 Abramitzky, R. Conway, J. Mill, R. Stein, L. Harvard University Economics Department History Seminar, Cambridge, MA (2023)
  • Race, Perceived Skin Tone, and Economic Outcomes in America, 1870–1940 Abramitzky, R. Conway, J. Mill, R. Stein, L. Babson Research Day, Babson Park, MA (2023)
  • Introduction to Cryptocurrencies Stein, L. Friedberg, A. Babson Graduate Finance Club Event Series, Babson Park, MA / Online (2022)
  • Uncertain Firm Value and Earnings Management: A Capital Markets-Based Channel Stein, L. Wang, C. Journal of Accounting, Auditing and Finance Conference (2020, postponed/canceled), Helsinki, Finland (2022)
  • Babson Graduate Commencement Address Stein, L. Babson Graduate Commencement, Babson Park, MA (2022)
  • Awesome Lessons From Teaching Finance Stein, L. Babson “Last Lecture”, Babson Park, MA (2022)
  • Tax-Timing Options and the Demand for Idiosyncratic Volatility Boguth, O. Stein, L. Babson Finance Brown Bag, Babson Park, MA (2022)
  • Pursuing the Dream: Raising Capital Against All Odds (panel) Stein, L. Delgado, F. ten Brink, R. Babson Global Entrepreneurial Leadership Forum, Babson Park, MA (2022)
  • Tax-Timing Options and the Demand for Idiosyncratic Volatility Boguth, O. Stein, L. Florida State University Finance Seminar, Tallahassee, FL (2022)
  • Financial inclusion, human capital, and wealth accumulation: Evidence from the Freedman’s Savings Bank Stein, L. Yannelis, C. BFRF Research Discussion Series, Babson Park, MA / Online (2021)
  • Financial inclusion, human capital, and wealth accumulation: Evidence from the Freedman’s Savings Bank Stein, L. Yannelis, C. University of San Francisco Economics Seminar, San Francisco, CA / Online (2021)
  • Financial inclusion, human capital, and wealth accumulation: Evidence from the Freedman’s Savings Bank Stein, L. Yannelis, C. SEC DERA Research Seminar, Washington, DC / Online (2020)
  • Equity Market Volatility in the COVID-19 Era Stein, L. Cutler Center “Finance Fridays”, Babson Park, MA / Online (2020)
  • Tax-Timing Options and the Demand for Idiosyncratic Volatility Boguth, O. Stein, L. Rutgers Finance Seminar, New Brunswick, NJ (2019)
  • Financial inclusion, human capital, and wealth accumulation: Evidence from the Freedman’s Savings Bank Stein, L. Yannelis, C. University of California, Davis Economic History Seminar, Davis, CA, United States of America (2019)
  • Tax-Timing Options and the Demand for Idiosyncratic Volatility Boguth, O. Stein, L. University of Georgia Finance Seminar, Athens, GA (2019)
  • Financial inclusion, human capital, and wealth accumulation: Evidence from the Freedman’s Savings Bank Stein, L. Yannelis, C. Red Rock Finance Conference, Zion National Park, UT (2019)
  • Financial inclusion, human capital, and wealth accumulation: Evidence from the Freedman’s Savings Bank Stein, L. Yannelis, C. European Finance Association Annual Meeting, Lisbon, Portugal (2019)
  • Financial inclusion, human capital, and wealth accumulation: Evidence from the Freedman’s Savings Bank Stein, L. Yannelis, C. University of Oregon Summer Finance Conference, Eugene, OR (2019)
  • Financial inclusion, human capital, and wealth accumulation: Evidence from the Freedman’s Savings Bank Stein, L. Yannelis, C. NBER Development of the American Economy Summer Institute, Cambridge, MA (2019)
  • Financial inclusion, human capital, and wealth accumulation: Evidence from the Freedman’s Savings Bank Stein, L. Yannelis, C. Conference on Finance, Labor and Inequality, Capri, Italy (2019)
  • Angels, Entrepreneurship, and Employment: Evidence from Investor Accreditation Rules Lindsey, L. Stein, L. Babson Finance Brown Bag, Babson Park, MA (2019)
  • Financial inclusion, human capital, and wealth accumulation: Evidence from the Freedman’s Savings Bank Stein, L. Yannelis, C. Financial Intermediation Research Society Annual Meeting, Savannah, GA (2019)
  • Financial inclusion, human capital, and wealth accumulation: Evidence from the Freedman’s Savings Bank Stein, L. Yannelis, C. Northeastern University Finance Conference, Boston, MA (2019)
  • Angels, Entrepreneurship, and Employment: Evidence from Investor Accreditation Rules Lindsey, L. Stein, L. SEC Conference on Financial Market Regulation, Washington, DC (2019)
  • Financial inclusion, human capital, and wealth accumulation: Evidence from the Freedman’s Savings Bank Stein, L. Yannelis, C. Society of Labor Economics Annual Meeting, Arlington, VA (2019)
  • Financial inclusion, human capital, and wealth accumulation: Evidence from the Freedman’s Savings Bank Stein, L. Yannelis, C. University of Kentucky Finance Conference, Lexington, KY (2019)
  • Financial inclusion, human capital, and wealth accumulation: Evidence from the Freedman’s Savings Bank Stein, L. Yannelis, C. Adam Smith Workshop in Corporate Finance, London, England (2019)
  • Financial inclusion, human capital, and wealth accumulation: Evidence from the Freedman’s Savings Bank Stein, L. Yannelis, C. FDIC Research Seminar, Washington, DC (2019)
  • Angels, Entrepreneurship, and Employment: Evidence from Investor Accreditation Rules Lindsey, L. Stein, L. Midwest Finance Association Annual Meeting, Chicago, IL (2019)
  • Financial inclusion, human capital, and wealth accumulation: Evidence from the Freedman’s Savings Bank Stein, L. Yannelis, C. Midwest Finance Association Annual Meeting, Chicago, IL (2019)
  • Financial inclusion, human capital, and wealth accumulation: Evidence from the Freedman’s Savings Bank Stein, L. Yannelis, C. New Frontiers in Banking Conference, Milan, Italy (2019)
  • Financial inclusion, human capital, and wealth accumulation: Evidence from the Freedman’s Savings Bank Stein, L. Yannelis, C. European Winter Finance Conference, Megeve, France (2019)
  • Financial inclusion, human capital, and wealth accumulation: Evidence from the Freedman’s Savings Bank Stein, L. Yannelis, C. University of Lausanne Finance Brown Bag, Lausanne, Switzerland (2019)
  • Angels, Entrepreneurship, and Employment: Evidence from Investor Accreditation Rules Lindsey, L. Stein, L. Chicago Fed/Notre Dame Conference on Labor Market Dynamism, Chicago, IL (2018)
  • Tax-Timing Options and the Demand for Idiosyncratic Volatility Boguth, O. Stein, L. Suffolk University Finance Seminar, Boston, MA (2018)
  • Distracted Directors: Evidence From Directors' Outside Employment Stein, L. Zhao, H. China International Conference in Finance, Tianjin, China (2018)
  • Angels, Entrepreneurship, and Employment: Evidence from Investor Accreditation Rules Lindsey, L. Stein, L. Cambridge Endowment for Research in Finance Seminar, Cambridge, England (2018)
  • Angels, Entrepreneurship, and Employment: Evidence from Investor Accreditation Rules Lindsey, L. Stein, L. Financial Intermediation Research Society Annual Meeting, Barcelona, Spain (2018)
  • Tax-Timing Options and the Demand for Idiosyncratic Volatility Boguth, O. Stein, L. Western Finance Association Annual Meeting, San Diego, CA (2018)
  • Economic Uncertainty and Earnings Management Stein, L. Wang, C. CEIBS Accounting and Finance Symposium, Shanghai, China (2018)
  • Distracted Directors: Evidence From Directors' Outside Employment Stein, L. Zhao, H. International Conference of the French Finance Association, Paris, France (2018)
  • Angels, Entrepreneurship, and Employment: Evidence from Investor Accreditation Rules Lindsey, L. Stein, L. Society for Financial Studies Cavalcade, New Haven, CT (2018)
  • Tax-Timing Options and the Demand for Idiosyncratic Volatility Boguth, O. Stein, L. UC Riverside Finance Seminar, Riverside, CA (2018)
  • Angels, Entrepreneurship, and Employment: Evidence from Investor Accreditation Rules Lindsey, L. Stein, L. University of Kentucky Finance Conference, Lexington, KY (2018)
  • Tax-Timing Options and the Demand for Idiosyncratic Volatility Boguth, O. Stein, L. European Winter Finance Summit, St. Moritz, Switzerland (2018)
  • Angels, Entrepreneurship, and Employment: Evidence from Investor Accreditation Rules Lindsey, L. Stein, L. Texas A&M Young Scholars Finance Consortium, College Station, TX (2018)
  • Angels, Entrepreneurship, and Employment: Evidence from Investor Accreditation Rules Lindsey, L. Stein, L. Frontiers of Entrepreneurship Research Conference, Palm Beach, FL (2018)
  • Tax-Timing Options and the Demand for Idiosyncratic Volatility Boguth, O. Stein, L. Christmas Meeting of the German Economists Abroad, Frankfurt, Germany (2017)
  • Tax-Timing Options and the Demand for Idiosyncratic Volatility Boguth, O. Stein, L. Goethe University Frankfurt Finance Seminar, Frankfurt, Germany (2017)
  • Tax-Timing Options and the Demand for Idiosyncratic Volatility Boguth, O. Stein, L. University Wisconsin Junior Finance Conference, Madison, WI (2017)
  • Angels, Entrepreneurship, and Employment: Evidence from Investor Accreditation Rules Lindsey, L. Stein, L. European Finance Association Annual Meeting, Mannheim, Germany (2017)
  • Tax-Timing Options and the Demand for Idiosyncratic Volatility Boguth, O. Stein, L. European Finance Association Annual Meeting, Mannheim, Germany (2017)
  • Angels, Entrepreneurship, and Employment: Evidence from Investor Accreditation Rules Lindsey, L. Stein, L. SITE Labor and Finance Conference, Stanford, CA (2017)
  • Tax-Timing Options and the Demand for Idiosyncratic Volatility Boguth, O. Stein, L. University of Oregon Summer Finance Conference, Eugene, OR (2017)
  • Angels, Entrepreneurship, and Employment: Evidence from Investor Accreditation Rules Lindsey, L. Stein, L. European Financial Management Association Annual Meeting, Athens, Greece (2017)
  • Angels, Entrepreneurship, and Employment: Evidence from Investor Accreditation Rules Lindsey, L. Stein, L. Johns Hopkins University Finance Brownbag, Baltimore, MD (2017)
  • Angels, Entrepreneurship, and Employment: Evidence from Investor Accreditation Rules Lindsey, L. Stein, L. Stevens Institute of Technology Emerging Trends in Entrepreneurial Finance Conference, Hoboken, NJ (2017)
  • Asymmetric Taxation and the Demand for Idiosyncratic Volatility Boguth, O. Stein, L. Arizona Junior Finance Conference, Tucson, AZ (2017)
  • Financial Access, Human Capital, and Wealth Accumulation: Evidence from the Freedman’s Bank Stein, L. Yannelis, C. Columbia–NYU Junior Finance Conference, New York, NY (2017)
  • Distracted Directors: Evidence From Directors' Outside Employment Stein, L. Zhao, H. Midwest Finance Association Annual Meeting, Chicago, IL (2017)
  • Angels, Entrepreneurship, and Employment: Evidence from Investor Accreditation Rules Lindsey, L. Stein, L. Southern California Private Equity Conference, Los Angeles, CA (2017)
  • Economic Uncertainty and Earnings Management Stein, L. Wang, C. Financial Institutions, Regulation, and Corporate Governance Conference, Melbourne, Australia (2017)
  • Economic Uncertainty and Earnings Management Stein, L. Wang, C. Financial Management Association Annual Meeting, Las Vegas, NV (2016)
  • Economic Uncertainty and Earnings Management Stein, L. Wang, C. Northern Finance Association Annual Conference, Mont Tremblant, Canada (2016)
  • Distracted Directors: Evidence From Directors’ Outside Employment Stein, L. Zhao, H. UT Austin Finance Brownbag, Austin, TX (2016)
  • Distracted Directors: Evidence From Directors’ Outside Employment Stein, L. Zhao, H. Arizona Junior Finance Conference, Tempe, AZ (2016)
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