Erik Stafford

Erik Stafford

John A. Paulson Professor of Business Administration

John A. Paulson Professor of Business Administration

Finance
+1 (617) 495-8064
 
Erik Stafford
Unit
Contact Information
(617) 495-8064
Publications Awards & Honors
Nominated in 2004 for the Brattle Prize for "Price Pressure Around Mergers" (with Mark Mitchell and Todd Pulvino, Journal of Finance, February 2004).
Winner of the 2002 Smith Breeden Prize for Outstanding Paper in the Journal of Finance for "Limited Arbitrage in Equity Markets" (with Mark Mitchell and Todd Pulvino, April 2002).
Winner of the 2000 Merton Miller Prize for "Managerial Decisions and Long-Term Stock-Price Performance" (with Mark Mitchell, Journal of Business, July 2000).
Winner of the 2016 Case Centre Award in the Finance, Accounting and Control category for "Valuation of AirThread Connections" (with Joel Heilprin, HBS Brief Case 114-263).

Erik Stafford joined the faculty at HBS in July 1999, where he has taught finance in the required and elective curricula of the MBA Program and in the CFA Investment Management Workshop.

Erik's research efforts focus on investment management, capital markets, and the financial system. Two of his papers have won annual prizes for research excellence. "Managerial Decisions and Long-Term Stock Price Performance," written with Mark Mitchell, won the Merton Miller Prize for the paper deemed most significant in the 2000 Journal of Business , and "Limited Arbitrage in Equity Markets," written with Mark Mitchell and Todd Pulvino, won the Smith-Breeden Prize for outstanding paper in the Journal of Finance.

Erik has an undergraduate degree in Finance and Economics from the University of Maryland and a Ph.D. in Finance from the University of Chicago's Graduate School of Business.

In addition to his work at Harvard, Erik is an occassional advisor to financial firms.

Journal Articles
Working Papers
Cases and Teaching Materials
  • Stafford, Erik. "Ocean Carriers (Abridged) Courseware." Harvard Business School Spreadsheet Supplement 222-725, June 2022. View Details
  • Stafford, Erik. "Exchanging Salary for Stock Options at a Startup." Harvard Business School Case 222-077, March 2022. View Details
  • McComb, Emily R., and Erik Stafford. "Carnival Corp: Cruising In the Time of Covid." Harvard Business School Case 221-085, March 2021. (Revised November 2022.) View Details
  • Hanson, Samuel Gregory, Erik Stafford, and Luis M. Viceira. "Grantham, Mayo, and Van Otterloo, 2012: Estimating the Equity Risk Premium (Abridged) Spreadsheet Supplement." Harvard Business School Spreadsheet Supplement 215-704, October 2014. View Details
  • Stafford, Erik, and Aditya Vikram Sunderam. "Evanston Capital Management Spreadsheet Supplement." Harvard Business School Spreadsheet Supplement 215-702, September 2014. View Details
  • Stafford, Erik, and Adi Sunderam. "Evanston Capital Management." Harvard Business School Case 215-016, September 2014. View Details
  • Scharfstein, David, Erik Stafford, and Joel Heilprin. "Lin TV Corp." Harvard Business School Case 213-065, October 2012. View Details
  • Hanson, Samuel Gregory, Erik Stafford, and Luis M. Viceira. "Grantham, Mayo, and Van Otterloo, 2012: Estimating the Equity Risk Premium (CW)." Harvard Business School Spreadsheet Supplement 213-717, February 2013. (Revised January 2015.) View Details
  • Hanson, Samuel, Erik Stafford, and Luis Viceira. "Grantham, Mayo, and Van Otterloo, 2012: Estimating the Equity Risk Premium." Harvard Business School Case 213-051, October 2012. (Revised June 2015.) View Details
  • Stafford, Erik, and Joel L. Heilprin. "Valuation of AirThread Connections." Harvard Business School Brief Case 114-263, March 2011. View Details
  • Stafford, Erik, and Joel L. Heilprin. "Valuation of AirThread Connections (Brief Case)." Harvard Business School Teaching Note 114-264, March 2011. View Details
  • Stafford, Erik, and Joel L. Heilprin. "Valuation of AirThread Connections, Spreadsheet Supplement (Brief Case)." Harvard Business School Spreadsheet Supplement 114-267, March 2011. View Details
  • Stafford, Erik, and Joel L. Heilprin. "Valuation of AirThread Connections, Faculty Spreadsheet Supplement (Brief Case)." Harvard Business School Spreadsheet Supplement 114-268, March 2011. View Details
  • Perold, Andre F., and Erik Stafford. "Harvard Management Company (2010)." Harvard Business School Case 211-004, September 2010. (Revised May 2012.) View Details
  • Stafford, Erik, Joel L. Heilprin, and Jeffrey DeVolder. "Hansson Private Label, Inc.: Evaluating an Investment in Expansion (Brief Case)." Harvard Business School Teaching Note 094-024, June 2009. (Revised March 2010.) View Details
  • Stafford, Erik, and Joel L. Heilprin. "Hansson Private Label, Inc.: Evaluating an Investment in Expansion, Student Spreadsheet (Brief Case)." Harvard Business School Spreadsheet Supplement 094-025, June 2009. (Revised March 2010.) View Details
  • Stafford, Erik, and Joel L. Heilprin. "Hansson Private Label, Inc.: Evaluating an Investment in Expansion, Teaching Note Spreadsheet (Brief Case)." Harvard Business School Spreadsheet Supplement 094-026, June 2009. (Revised March 2010.) View Details
  • Perold, Andre F., and Erik Stafford. "Leveraged Loans 2007." Harvard Business School Case 208-145, April 2008. (Revised December 2008.) View Details
  • Perold, Andre F., and Erik Stafford. "Leveraged Loans 2007 (TN)." Harvard Business School Teaching Note 208-146, April 2008. View Details
  • Coval, Joshua D., and Erik Stafford. "Dynamic Markets." Harvard Business School Course Overview Note 208-143, March 2008.​ View Details
  • Perold, Andre F., and Erik Stafford. "2006 Hurricane Risk." Harvard Business School Case 207-075, October 2006. (Revised March 2008.) View Details
  • Coval, Joshua D., and Erik Stafford. "Event Arbitrage (TN)." Harvard Business School Teaching Note 208-091, November 2007. (Revised March 2008.) View Details
  • Perold, André, and Erik Stafford. "2006 Hurricane Risk (TN)." Harvard Business School Teaching Note 208-140, March 2008. View Details
  • Coval, Joshua, and Erik Stafford. "Convertible Arbitrage." Harvard Business School Background Note 208-116, January 2008. View Details
  • Coval, Joshua, and Erik Stafford. "Equity Derivatives." Harvard Business School Background Note 208-117, January 2008. View Details
  • Coval, Joshua, and Erik Stafford. "Equity Options." Harvard Business School Background Note 208-118, January 2008. View Details
  • Coval, Joshua, and Erik Stafford. "Index Options." Harvard Business School Background Note 208-119, January 2008. View Details
  • Coval, Joshua D., and Erik Stafford. "Options (TN)." Harvard Business School Teaching Note 208-120, January 2008. View Details
  • Coval, Joshua, and Erik Stafford. "Valuing Risky Debt." Harvard Business School Background Note 208-111, January 2008. View Details
  • Coval, Joshua, and Erik Stafford. "Collateralized Debt Obligations (CDOs)." Harvard Business School Background Note 208-113, January 2008. View Details
  • Coval, Joshua D., and Erik Stafford. "Credit Risk: Valuing Risky Debt & CDOs (TN)." Harvard Business School Teaching Note 208-112, January 2008. View Details
  • Coval, Joshua D., Erik Stafford, Rodrigo Osmo, John Jernigan, Zack Page, and Paulo Passoni. "Asset Allocation I." Harvard Business School Background Note 208-086, November 2007. View Details
  • Coval, Joshua D., Erik Stafford, Rodrigo Osmo, John Jernigan, Zack Page, and Paulo Passoni. "Asset Allocation II." Harvard Business School Supplement 208-087, November 2007. View Details
  • Coval, Joshua D., and Erik Stafford. "Asset Allocation III." Harvard Business School Supplement 208-088, November 2007. View Details
  • Coval, Joshua D., and Erik Stafford. "Asset Allocation I, II & III (TN)." Harvard Business School Teaching Note 208-089, November 2007. View Details
  • Coval, Joshua D., and Erik Stafford. "Event Arbitrage." Harvard Business School Background Note 208-090, November 2007. View Details
  • Coval, Joshua D., and Erik Stafford. "Bayesian Estimation & Black-Litterman." Harvard Business School Background Note 208-085, November 2007. View Details
  • Coval, Joshua D., and Erik Stafford. "Market Efficiency (TN)." Harvard Business School Teaching Note 205-082, June 2005. (Revised October 2007.) View Details
  • Coval, Joshua D., and Erik Stafford. "The Law of One Price (TN)." Harvard Business School Teaching Note 205-080, June 2005. (Revised October 2007.) View Details
  • Coval, Joshua D., and Erik Stafford. "Price Formation (TN)." Harvard Business School Teaching Note 205-078, June 2005. (Revised October 2007.) View Details
  • Coval, Joshua D., and Erik Stafford. "Price Formation." Harvard Business School Background Note 208-040, October 2007. View Details
  • Coval, Joshua D., Erik Stafford, Rodrigo Osmo, John Jernigan, Zachary Page, and Paul Passoni. "Market Efficiency." Harvard Business School Background Note 205-081, June 2005. (Revised October 2007.) View Details
  • Coval, Joshua D., Erik Stafford, Rodrigo Osmo, John Jernigan, Zack Page, and Paulo Passoni. "The Law of One Price." Harvard Business School Background Note 205-079, June 2005. (Revised October 2007.) View Details
  • Coval, Joshua, Jonathan Gadzik, and Erik Stafford. "Deriving by Doing: A New Approach to Teaching Finance." 2007. View Details
  • Baker, Malcolm P., Richard S. Ruback, Erik Stafford, and Kathleen Luchs. "Giant Cinema." Harvard Business School Case 204-052, September 2003. (Revised January 2004.) View Details
  • Stafford, Erik, Angela Chao, and Kathleen Luchs. "Ocean Carriers." Harvard Business School Case 202-027, September 2001. (Revised April 2002.) View Details
  • Mitchell, Mark L., Erik Stafford, and Todd Pulvino. "Strategic Capital Management, LLC (A)." Harvard Business School Case 202-024, August 2001. (Revised April 2002.) View Details
  • Mitchell, Mark L., Erik Stafford, and Todd Pulvino. "Strategic Capital Management, LLC Series TN." Harvard Business School Teaching Note 202-028, August 2001. (Revised April 2002.) View Details
  • Stafford, Erik. "Ocean Carries TN." Harvard Business School Teaching Note 202-029, January 2002. View Details
  • Stafford, Erik. "Strategic Capital Management, LLC." Harvard Business School Spreadsheet Supplement 202-712, December 2001. View Details
  • Stafford, Erik. "Ocean Carriers." Harvard Business School Spreadsheet Supplement 202-702, September 2001. View Details
  • Mitchell, Mark L., and Erik Stafford. "Cost of Capital at Ameritrade TN." Harvard Business School Teaching Note 201-123, April 2001. (Revised September 2001.) View Details
  • Mitchell, Mark L., Erik Stafford, and Todd Pulvino. "Strategic Capital Management, LLC (B)." Harvard Business School Case 202-025, August 2001. View Details
  • Mitchell, Mark L., Erik Stafford, and Todd Pulvino. "Strategic Capital Management, LLC (C)." Harvard Business School Case 202-026, August 2001. View Details
  • Mitchell, Mark L., and Erik Stafford. "Cost of Capital at Ameritrade." Harvard Business School Spreadsheet Supplement 201-711, December 2000. (Revised May 2001.) View Details
  • Mitchell, Mark L., and Erik Stafford. "Cost of Capital at Ameritrade." Harvard Business School Case 201-046, October 2000. (Revised April 2001.) View Details
Awards & Honors
Nominated in 2004 for the Brattle Prize for "Price Pressure Around Mergers" (with Mark Mitchell and Todd Pulvino, Journal of Finance, February 2004).
Winner of the 2002 Smith Breeden Prize for Outstanding Paper in the Journal of Finance for "Limited Arbitrage in Equity Markets" (with Mark Mitchell and Todd Pulvino, April 2002).
Winner of the 2000 Merton Miller Prize for "Managerial Decisions and Long-Term Stock-Price Performance" (with Mark Mitchell, Journal of Business, July 2000).
Winner of the 2016 Case Centre Award in the Finance, Accounting and Control category for "Valuation of AirThread Connections" (with Joel Heilprin, HBS Brief Case 114-263).
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