Luke C.D. Stein, Ph.D.

Luke C.D. Stein, Ph.D.

Assistant Professor of Finance
Babson College

Accomplished scholar and award-winning teacher at Babson College, with expertise in financial economics. Stanford Ph.D. in Economics; Harvard A.B. in Applied Mathematics and Citation in Japanese Language. Expert witness. Non-profit organization board member.

Research published/accepted in top peer-reviewed journals including Journal of Financial Economics, Review of Financial Studies, Journal of Corporate Finance, Financial Review, and Economic Journal.

2022 recipient of Babson Deans’ Award for Excellence in Graduate Teaching (annual award to one faculty member for “excellence and innovative practices in teaching”) and Thomas Kennedy Award for Teaching Excellence (“Graduate Faculty of the Year” awarded annually by graduating class to one faculty member “who personifies teaching excellence at the graduate level and whose personal standards of quality and caring extend beyond the classroom”).

Former finance faculty at Arizona State University’s W. P. Carey School of Business (winner of Huizingh Outstanding Undergraduate Teacher Award, given to an instructor “dedicated to inspiring students through excellence in teaching and mentoring”) and economics instructor at Stanford University (winner of Gores Award, “the University’s highest award for excellence in teaching”). In an earlier life: strategy consultant for Bain & Company in New York and Tokyo.

Research

Refereed Publications and Accepted Papers

  1. Journal of Financial Economics (conditionally accepted)
    Lindsey, L., Stein, L.C.D., 2025. Angels, entrepreneurship, and employment dynamics: Evidence from investor accreditation rules (Working Paper No. 2939994). SSRN.
  2. Financial Review (accepted)
    Barnes, S., Stein, L.C.D., Forthcoming. Racial discrimination in asset prices: Evidence from horse betting. Financial Review.
  3. Review of Financial Studies
    Stein, L.C.D., Yannelis, C., 2020. Financial inclusion, human capital, and wealth accumulation: Evidence from the Freedman’s Savings Bank. Review of Financial Studies 33, 5333–5377.
  4. Journal of Corporate Finance
    Stein, L.C.D., Zhao, H., 2019. Independent executive directors: How distraction affects their advisory and monitoring roles. Journal of Corporate Finance 56, 199–223.
  5. Economic Journal
    Doleac, J.L., Stein, L.C.D., 2013. The visible hand: Race and online market outcomes. Economic Journal 123, F469–F492.

Working Papers

  1. Bowen, D.E., Price, S.M., Stein, L.C.D., Yang, K., 2024. Measuring and mitigating racial disparities in LLMs: Evidence from a mortgage underwriting experiment (Working Paper No. 4812158). SSRN.
  2. Abramitzky, R., Conway, J., Mill, R., Stein, L.C.D., 2023. The gendered impacts of perceived skin tone: Evidence from African-American siblings in 1870–1940 (Working Paper No. 31016). NBER.
  3. Boguth, O., Stein, L.C.D., 2017. Tax-timing options and the demand for idiosyncratic volatility (Working Paper No. 2945779). SSRN.
  4. Stein, L.C.D., Wang, C.C.Y., 2016. Economic uncertainty and earnings management (Working Paper No. 16–103). Harvard Business School Accounting & Management Unit.
  5. Stein, L.C.D., Stone, E., 2013. The effect of uncertainty on investment, hiring, and R&D: Causal evidence from equity options (Working Paper No. 1649108). SSRN.

Teaching and Advising

Luke Stein
Finance Division, Babson College
320 Tomasso Hall
231 Forest Street
Babson Park, MA 02457

lcdstein@babson.edu