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Joel Shulman

  • Professor
Academic Division: Entrepreneurship
781-239-4446
Dr. Shulman is also a Chartered Financial Analyst, with a Certified Management Accountant and Certified Cash Manager designations. He previously ran the Shulman CFA Review Program which provided training for over 12,000 investment professionals throughout the world. He is author or coauthor of numerous academic articles and books and has consulted for many small entrepreneurial firms and large corporations. He was previously a consultant for the World Bank, assisting with the development of capital markets in Central Asia and republics of the former Soviet Union.​ He is the founder of EntrepreneurShares that manages professional funds (entrepreneurial firms in publicly traded equities) in mutual funds, ETF, hedge fund, and separately managed account (SMA) structures.

Academic Degrees

  • MPA, Kennedy School of Government, Harvard University
  • Ph D, Michigan State University
  • MBA, Michigan State University
  • BA, Michigan State University

Academic Interest / Expertise

Entrepreneurship, finance, public equities, global capital markets

Awards & Honors

  • 2023 — Entrepreneur ETF--ENTR--Top 10 Performer, NASDAQ/NYSE
  • 2023 — IMPAX Mutual Fund Top 15 Ranking , NASDAQ/NYSE
  • 2020 — Fin Tech SPAC (highly confidential), B. Riley (confidential)
  • 2019 — 2019 Most Innovative Professor Award, Arist
  • 2018 — Entrepreneur US Large Cap ETF (NYSE Ticker: ENTR), Wall Street Journal #2 Ranking YTD, out of 810 Funds
  • 2018 — Entrepreneur US Small Cap Mutual Fund, Barron's Ranking Second Quarter #9 out of 26,967 Investment Strategies
  • 2018 — Entrepreneur US Large Cap ETF (NYSE Ticker: ENTR), Wall Street Journal #2 Ranking YTD, out of 810 Funds)
  • 2018 — Hidden Gem Conference - Awarded Presentation at international conference , Hidden Gem Conference
  • 2018 — Entrepreneur US Large Cap ETF (NYSE Ticker: ENTR), Wall Street Journal #2 Ranking YTD, out of 810 funds
  • 2018 — Entrepreneur US Large Cap ETF (NYSE Ticker: ENTR), Wall Street Journal #1 Ranking YTD, out of 810 Funds
  • 2018 — Entrepreneur US Large Cap ETF (NYSE Ticker: ENTR), Wall Street Journal #1 Ranking YTD, out of 810 funds
  • 2017 — Closing Bell on New York Stock Exchange , NYSE

Courses

  • Degree Courses 2024

    • EPS 3505 GREAT EPS WEALTH:CREATION PRSV DEST

Publications

Journal Articles

  • Shulman, J.M. (2019). Entrepreneurs Breed ESG-Rich Companies: Reap Exceptional Returns as Harvest Byproduct. Journal of Index Investing, The. Vol: Volume 9, Number 4, Issue: Volume 9 Number 4, Page: 1-28. Institutional Investor.
  • Shulman, J. (2017). Leadership Matters: Crafting a Smart Beta Portfolio with a Founder-CEO Twist. Journal of Index Investing, The. Vol: 8, Issue: 3, Page: pp. 51-73. Joel Shulman. link
  • Shulman, J. (2015). The Ephemeral Life of an Emerging Fund Manager. Journal of Investing, The. Vol: 24, Issue: 4, Page: 102-115. Institutional Investor, Inc..
  • Shulman, ., Stone, S. (2014). Large Cap Entrepreneurial Companies: Can Investors Generate Alpha. Journal of International Finance Studies. Vol: 12, Issue: 3, Page: 6. International Academy of Business ad Economics. link
  • Shulman, J.M., Cox, R.A. (2012). Emerging Market Entrepreneur Stock Performance. Journal of International Finance Studies. Vol: 12, Issue: 1, Page: 29-36. International Academy of Business and Economics. link
  • Shulman, J.M. (2012). Entrepreneurs with Benefits: Stock Appreciation Plus High Dividend Yields. Journal of Academy of Business and Economics. Vol: 12, Issue: 4, Page: 144-149. International Academy of Business and Economics. link
  • Shulman, J.M., Cox, R.A. (2012). The Investment Returns of International Entrepreneurs. Journal of International Management Studies. Vol: 12, Issue: 3, Page: 100-107. International Academy of Business and Economics. link
  • Shulman, J.M., Noyes, E.A. (2012). The Rich Get Richer and So Can You: Investing in a Billionaires’ Index. Journal of Index Investing, The. Vol: 2, Issue: 4, Page: 12-32. Institutional Investor, Inc.. link
  • Shulman, J.M., George, B.A. (2012). Growing Jobs and Getting Returns: Impact Investing Through Entrepreneurs. Journal of Global Business Management. Vol: 8, Issue: 1, Page: 123-132. Kai Wang and P.Y. Gloria Wang. link
  • Shulman, J.M. (2011). Are Entrepreneur-Led Companies Better? Evidence from Publicly Traded US Companies: 1998-2010. Journal of Risk and Financial Management. Vol: 3, Page: 118-138.
  • Shulman, J.M. (2010). A New Investment Style Featuring an Index of Entrepreneurial Companies. Journal of Index Investing. Vol: 1, Issue: 2, Page: 107-115.
  • Shulman, J.M., Cox, R.A. (2010). Founding Family Controlled Firms' Equity performance: the Information Technology Industry 1994-2008. The Journal of International Business Research. Vol: 10, Issue: 5, Page: 134-140.
  • Zahra, S.A., Gedajlovic, E., Neubaum, D.O., Shulman, J.M. (2009). A typology of social entrepreneurs: Motives, search processes and ethical challenges. Journal of Business Venturing. Vol: 24, Issue: 5, Page: 519-532.
  • Shulman, J.M. (2009). Investing in Troubled Times: Entrepreneurs are Your Safest Bet. The Investment Professional. Vol: 2, Issue: 4, Page: 68-77.
  • Cox, R.A., Shulman, J.M. (2009). The Performance of Founder-Controlled Publicly Traded Real Estate Companies in Bull and Bear Markets. Indian Journal of Economics and Business. Vol: 8, Page: 1-7.
  • Cox, R., Shulman, J.M. (2008). The Stock Performance of Founder-CEO Firms. Indian Journal of Economics and Business. Vol: 7, Page: 143-151.

Book Chapters

  • Shulman, J.M. (2009). Debt and Other Sources of Financing: The Portable MBA in Entrepreneurship. Issue: 4th, Page: 197-224. Wiley.

Conference Proceedings

  • Shulman, J.M., Cox, R.A., Stallkamp, T.T. (2009). Organic Versus Acquired Growth: A Research Note: Business Research Yearbook. Vol: 16, Page: 318-325. International Academy of Business Disciplines .
  • Cox, R.A., Shulman, J.M. (2009). Stock Performance of Entrepreneurial Companies: Academy of Business Administration Readings Book.

Other

  • Shulman, J.M. (2024). Buy SpaceX Stock With Ease, But Beware The Risks: Buy SpaceX Stock With Ease, But Beware The Risks. Vol: N/A, Issue: N/A, Page: 2. Forbes. link
  • Shulman, J.M. (2024). How Elon Musk Stacks Up Against History's Notable Entrepreneurs: How Elon Musk Stacks Up Against History's Notable Entrepreneurs. Vol: N/A, Issue: N/A, Page: 2. Forbes. link
  • Shulman, J.M. (2024). How To Buy SpaceX Stock In 2025: How To Buy SpaceX Stock In 2025. Vol: N/A, Issue: N/A, Page: 2. Forbes. link
  • Shulman, J.M. (2024). How To Cut Taxes And Grow Jobs—A Bold Tax Plan For America: How To Cut Taxes And Grow Jobs—A Bold Tax Plan For America. Vol: N/A, Issue: N/A, Page: 2. Forbes. link
  • Shulman, J.M. (2024). SpaceX Stock Is Going To The Moon—Are You Joining The Liftoff?: SpaceX Stock Is Going To The Moon—Are You Joining The Liftoff?. Vol: N/A, Issue: N/A, Page: 2. Forbes. link
  • Shulman, J.M. (2024). XOVR ETF Adds SpaceX As Top Holding—The First ETF With Private Equity: XOVR ETF Adds SpaceX As Top Holding—The First ETF With Private Equity. Vol: N/A, Issue: N/A, Page: 2. Forbes. link
  • Shulman, J.M. (2024). Applovin +500% YTD Shows Power Of AI, Will Its Meteoric Rise Continue?: Applovin +500% YTD Shows Power Of AI, Will Its Meteoric Rise Continue?. Vol: N/A, Issue: N/A, Page: 2. Forbes. link
  • Shulman, J.M. (2024). Nvidia Joined Dow 30 After 6,000x Increase-It’s Time To Replace Index: Nvidia Joined Dow 30 After 6,000x Increase-It’s Time To Replace Index. Vol: NA, Issue: NA, Page: 2. Forbes. link
  • Shulman, J.M. (2024). Billionaires Undercard -Cuban V Musk Outshine Trump/Harris Main Event: Billionaires Undercard -Cuban V Musk Outshine Trump/Harris Main Event. Vol: N/A, Issue: N/A, Page: 2. Forbes. link
  • Shulman, J.M. (2024). Mag 7 Become Drag 7, Taking Down QQQ & Create Opening For “Q Killers”: Mag 7 Become Drag 7, Taking Down QQQ & Create Opening For “Q Killers”. Vol: N/A, Issue: N/A, Page: 2. Forbes. link
  • Shulman, J.M. (2024). Markets Are “On Fire” Since September Jobs Report. Will They Continue?: Markets Are “On Fire” Since September Jobs Report. Will They Continue?. Vol: N/A, Issue: N/A, Page: 2. Forbes. link
  • Shulman, J.M. (2024). Monster Week Ahead-Earnings, Data, & Jobs-But No Need To Be Afraid...: Monster Week Ahead-Earnings, Data, & Jobs-But No Need To Be Afraid.... Vol: N/A, Issue: N/A, Page: 2. Forbes. link
  • Shulman, J.M. (2024). Strong Job Growth Report Belies Major Problems Ahead For US Labor Mkt: Strong Job Growth Report Belies Major Problems Ahead For US Labor Mkt. Vol: N/A, Issue: N/A, Page: 2. Forbes. link
  • Shulman, J.M. (2024). Private-Public Crossover Funds Are New Rage-Mad Scramble To Gain Entry: Private-Public Crossover Funds Are New Rage-Mad Scramble To Gain Entry . Vol: N/A, Issue: N/A, Page: 2. Forbes. link
  • Shulman, J.M. (2024). Surge In Private Equity Deals Now On Cusp Of Breaking Into ETFs: Surge In Private Equity Deals Now On Cusp Of Breaking Into ETFs. Vol: N/A, Issue: N/A, Page: 2. Forbes. link
  • Shulman, J.M. (2024). Surge In Private Equity Deals Now On Cusp Of Breaking Into ETFs: Surge In Private Equity Deals Now On Cusp Of Breaking Into ETFs. Vol: N/A, Issue: N/A, Page: 2. Forbes. link
  • Shulman, J.M. (2024). Trump vs Biden—Given The Animus, Do Economic Polices Even Matter?: Trump vs Biden—Given The Animus, Do Economic Polices Even Matter?. Vol: N/A, Issue: N/A, Page: 2. Forbes. link
  • Shulman, J.M. (2024). The Rich Get Richer And So Can You, NVIDIA’s Jensen Leads The Way: The Rich Get Richer And So Can You, NVIDIA’s Jensen Leads The Way. Vol: N/A, Issue: N/A, Page: 2. Forbes. link
  • Shulman, J.M. (2024). Trump Stock (DJT) Is Overvalued-But You Might Be Crazy To Short It. Vol: N/A, Issue: N/A, Page: 2. Forbes. link
  • Shulman, J.M. (2024). Indices Have All Their Eggs In One Basket That May Soon Tumble & Crack: Indices Have All Their Eggs In One Basket That May Soon Tumble & Crack. Vol: N/A, Issue: N/A, Page: 2. Forbes. link
  • Shulman, J.M. (2024). Q1 Had Market Surprises, But Biggest One May Not Yet Have Arrived...: Q1 Had Market Surprises, But Biggest One May Not Yet Have Arrived.... Vol: N/A, Issue: N/A, Page: 2. Forbes. link
  • Shulman, J.M. (2024). AI is Red Hot: Will Investors Get Burned On Nvidia And Super Micro?: AI is Red Hot: Will Investors Get Burned On Nvidia And Super Micro?. Vol: N/A, Issue: N/A, Page: 2. Forbes. link
  • Shulman, J.M. (2024). When Is Executive Compensation Excessive? Elon Musk and Beyond: When Is Executive Compensation Excessive? Elon Musk and Beyond. Vol: N/A, Issue: N/A, Page: 2. Forbes. link
  • Shulman, J.M. (2024). When Is Executive Compensation Excessive? Elon Musk and Beyond. Vol: NA, Issue: NA, Page: 2. Forbes. link
  • Shulman, J.M. (2024). Financial Markets Teeter On Rate Cut & Inflation Uncertainty: Financial Markets Teeter On Rate Cut & Inflation Uncertainty. Vol: N/A, Issue: N/A, Page: 2. Forbes. link
  • Shulman, J.M. (2023). Markets May Deliver Historic Small Cap Christmas Rally: Forbes. Vol: N/A, Issue: N/A, Page: 2. Forbes. link
  • Shulman, J. (2018). Entrepreneur 50 Non-US Small Cap Index (ERSX_50): Entrepreneur Non-US Small Cap Index (ERSX_50). Thomson Reuters. link
  • Shulman, J.M. (2018). Entrepreneur Non US Small Cap ETF (NYSE Ticker: ERSX): Entrepreneur Non-US Small Cap ETF (NYSE Ticker: ERSX). New York Stock Exchange (NYSE).
  • Shulman, J. (2017). Entrepreneur 30 Index: Entrepreneur 30 Index (Ticker: ENTR_30). Thompson Reuters.
  • Shulman, J.M. (2017). Entrepreneur US Large Cap ETF (NYSE Ticker: ENTR): Entrepreneur US Large Cap ETF (NYSE Ticker: ENTR). New York Stock Exchange (NYSE).
  • Shulman, J.M. (in press). Founder CEO Index: Founder-CEO Index_6_05_through_Present. Thomson Reuters/Bloomberg. link
  • Shulman, J.M. (in press). Asleep at the Switch? Ailing Billionaire Creates Massive Opportunity for Insiders. Forbes.
  • Shulman, J.M. (2010). EntrepreneurShares Global Fund: SEC Registered Prospectus. Page: 1-20.

Presentations

  • XOVR ETF Democratizes Private Equity Investment for the Retail Investor Shulman, J. NASDAQ--XOVR ETF First Private-Public ETF, NYC (2024)
  • ENTREPRENEURIAL PUBLIC STOCKS LEAD THE RALLY Shulman, J. NASDAQ CLOSING BELL, NYC, NY (2023)
  • The Entrepreneur Factor: Distinguishing Characteristics of Dynamic, Disruptive Investing Shulman, J. ETF Trends, San Francisco, CA (2020)
  • The Entrepreneur Factor Shulman, J. NYSE--Floor Talk, New York, NY (2020)
  • The Entrepreneur Channel Shulman, J. The Entrepreneur Channel, Global (2020)
  • Do Entrepreneurs Perform Better? Shulman, J. Entrepreneurial Leadership, Annapolis, MD (2019)
  • ESG Investing Shulman, J. IMI HealthCare Conference , Atlanta, Georgia (2018)
  • Entrepreneurs and ESG Benefits Shulman, J. IMI Pension Funds and OCIO Conference , Stamford, Connecticut (2018)
  • Publicly Traded Entrepreneurial Companies and Job Growth Shulman, J. Hidden Gems Conference , New York City (2018)
  • Advantages of Publicly Traded Entrepreneurial Companies Shulman, J. The Boston Economic Club, Boston Federal Reserve (2018)
  • Entrepreneurship in Finance Technology Shulman, J. Babson Connect NYC 2018, Princeton Club (2018)
  • Entrepreneur as a New Investment Factor Shulman, J. EntrepreneurShares Entrepreneur 30 ETF Launch, NYSE, NY, NY (2017)
  • Founder-CEO Index Shark Tank Shulman, J. ETF Boot Camp, NYC, NY (2016)
  • Large Cap Entrepreneurial Companies: Can Investors Generate Alpha Shulman, J. Stone, S. International Academy of Business and Economics Fall Conference 2014, Las Vegas, NV (2014)
  • Entrepreneurs with Benefits: Stock Appreciation Plus High Dividend Yields Shulman, J. International Academy of Business and Economics Fall Conference 2014, Las Vegas, NV (2012)
  • The Investment Returns of International Entrepreneurs Shulman, J. Cox, R. International Academy of Business and Economics Fall Conference 2014, Las Vegas, NV (2012)
  • The Investment Returns of International Entrepreneurs Shulman, J. Cox, R. International Academy of Business Disciplines Meeting, Long Beach, CA (2012)
  • Growing Jobs and getting Returns: Impact Investing through Entrepreneurs Shulman, J. George, B. Global Business & International Management Winter Conference, Orlando, FL (2012)
  • Emerging Market Entrepreneur Stock Performance Shulman, J. International Academy of Business and Economics, Las Vegas, NV (2011)
  • Are Canadian Entrepreneur-Led Companies Better? Shulman, J. Cox, R. International Academy of Business Economics, Barcelona, Spain (2011)
  • Entrepreneurs: Agents of Change in South and South east asia Shulman, J. Harvard Project for Asian and International Relations (HPAIR), Cambridge, MA (2011)
  • Dedication of Samih Darwazah Center of Entrepreneurship Shulman, J. , American University of Beirut (2011)
  • Opportunities and Challeneges of Entrepreneurial Growth Shulman, J. 8th Innovation and Entrepreneurship Conference, Bogazici University, Istanbul (2010)
  • Founding Family Controlled Firms' Equity Performance: The Information Technology Industry 1994-2008 Shulman, J. International Academy of Business and Economics, Las Vegas, NV (2010)
  • Do Real Estate Investment Trust Founders Perform Better? Shulman, J. IABE-2010 Bangkok Summer Conference, Bangkok, Thailand (2010)
  • Closing the Early Stage Funding Gap—US and Russian Perspectives Shulman, J. US-Russia Technology Conference: Business Opportunities, Boston, MA (2009)
  • Investing in Troubled Times: Bet on Entrepreneurs Shulman, J. , Chicago, IL (2009)
  • Organic versus Acquired Growth; A Research Note Shulman, J. Cox, R. Stallkamp, T. International Academy of Business Disciplines Meeting, St. Louis, MO (2009)
  • The Performance of Founder-Controlled Publicly Traded Real Estate Companies in Bull and Bear Markets Cox, R. Shulman, J. Applied Business and Entrepreneurial Association International Meeting, Kauai, Hawaii (2008)
  • Organic versus Acquired Growth: A Research Note Cox, R. Ceru, D. Shulman, J. Stallkamp, T. Academy of Entrepreneurship Finance Meeting, Las Vegas, Nevada (2008)
  • Do Real Estate Founders Perform Better? Evidence From the Public Markets Cox, R. Shulman, J. American Real Estate Society Meeting, Captiva Island, Florida (2008)
  • The Strategic Entrepreneurial Growth Model Cox, R. Shulman, J. International Academy of Business Discipline Meeting, Houston, Texas (2008)
  • The Stock Performance of Founder-CEO Firms Cox, R. Shulman, J. Applied Business and Entrepreneurship Association International Meeting, Maui, Hawaii (2007)
  • Stock Performance of Entrepreneurial Companies Cox, R. Shulman, J. Academy of Business Administration International Conference, Florence, Italy (2007)
  • Social Entrepreneurship: Domain, Contributions and Ethical Dilemmas Gedajlovic, E. Neubaum, D. Shulman, J. Zahra, S. Journal of Business Venturing Conference on Ethics and Entrepreneurship, University of Minnesota (2006)
  • Mining Gold in Founder-Based Publicly-Held Firms Shulman, J. Stallkamp, T. Babson Kauffman Entrepreneurship Research Conference, Babson College (2005)
  • Return on Nothing Stallkamp, T. Shulman, J. Babson Kauffman Entrepreneurship Research Conference, Glasgow, Scotland (2004)
  • Getting Bigger by Growing Smaller Shulman, J. , Caracus, Venezuela (2004)
  • Rangan, U. Shulman, J. Price-Babson Entrepreneurship Conference, Babson Park, MA (2000)
  • Rangan, U. Shulman, J. Streeter, F. Price-Babson Entrepreneurship Conference, Charleston, South Carolina (1999)
  • Growing Bigger by Getting Smaller: The use of Strategic Entrepreneurial Units in Large Firms Rangan, U. Shulman, J. Streeter, F. Price-Babson Entrepreneurship Conference, Ghent, Belgium (1998)
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