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Details about Patrick Bolton

Homepage:http://www0.gsb.columbia.edu/faculty/pbolton/
Workplace:Finance and Economics Department, Graduate School of Business, Columbia University, (more information at EDIRC)

Access statistics for papers by Patrick Bolton.

Last updated 2015-03-04. Update your information in the RePEc Author Service.

Short-id: pbo544


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Working Papers

2019

  1. Investor Ideology
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads

2018

  1. Bank Resolution and the Structure of Global Banks
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (4)

2017

  1. CoCo Issuance and Bank Fragility
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (10)
  2. The Capital Structure of Nations
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads

2016

  1. Relationship and Transaction Lending in a Crisis
    Working Papers, Barcelona Graduate School of Economics Downloads View citations (68)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2013) Downloads View citations (35)
    BIS Working Papers, Bank for International Settlements (2013) Downloads View citations (31)
    Economics Working Papers, Department of Economics and Business, Universitat Pompeu Fabra (2013) Downloads View citations (31)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2013) Downloads View citations (32)
    Temi di discussione (Economic working papers), Bank of Italy, Economic Research and International Relations Area (2013) Downloads View citations (31)

2015

  1. Optimal Contracting, Corporate Finance, and Valuation with Inalienable Human Capital
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (1)

2014

  1. Debt, Taxes, and Liquidity
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (4)
  2. Investment under Uncertainty with Financial Constraints
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (1)

2011

  1. Cream Skimming in Financial Markets
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (23)
  2. Market Timing, Investment, and Risk Management
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (2)
    See also Journal Article in Journal of Financial Economics (2013)
  3. Should Derivatives be Privileged in Bankruptcy?
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (2)
  4. Sovereign Default Risk and Bank Fragility in Financially Integrated Economies
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (159)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2011) Downloads View citations (163)

    See also Journal Article in IMF Economic Review (2011)
  5. Why Bank Governance is Different
    ULB Institutional Repository, ULB -- Universite Libre de Bruxelles View citations (27)
    See also Journal Article in Oxford Review of Economic Policy (2011)

2010

  1. A unified theory of Tobin's q, corporate investment, financing, and risk management
    2010 Meeting Papers, Society for Economic Dynamics Downloads
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2009) Downloads View citations (7)

    See also Journal Article in Journal of Finance (2011)
  2. Credit Default Swaps and the Empty Creditor Problem
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (3)
    See also Journal Article in Review of Financial Studies (2011)
  3. Executive compensation and risk taking
    Staff Reports, Federal Reserve Bank of New York Downloads View citations (69)
  4. The Credit Ratings Game
    Working Papers, Barcelona Graduate School of Economics Downloads View citations (34)
    Also in Economics Working Papers, Department of Economics and Business, Universitat Pompeu Fabra (2010) Downloads View citations (11)
    NBER Working Papers, National Bureau of Economic Research, Inc (2009) Downloads View citations (14)
    Economics Working Papers, Department of Economics and Business, Universitat Pompeu Fabra (2009) Downloads View citations (13)

    See also Journal Article in Journal of Finance (2012)
  5. The Dynamics of Optimal Risk Sharing
    Economics Working Papers, Institute for Advanced Study, School of Social Science Downloads
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2010) Downloads

2009

  1. Intracompany Governance and Innovation
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (6)
  2. Outside and Inside Liquidity
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (5)
    See also Journal Article in The Quarterly Journal of Economics (2011)
  3. Satisficing Contracts
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (3)
    See also Journal Article in Review of Economic Studies (2010)

2008

  1. Leadership, Coordination and Mission-Driven Management
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (7)

2007

  1. Corporate law and governance
    ULB Institutional Repository, ULB -- Universite Libre de Bruxelles View citations (1)
    See also Chapter (2007)
  2. Optimal Property Rights in Financial Contracting
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads
    See also Journal Article in Review of Financial Studies (2011)
  3. Structuring and Restructuring Sovereign Debt; The Role of a Bankruptcy Regime
    IMF Working Papers, International Monetary Fund Downloads View citations (44)
    See also Journal Article in Journal of Political Economy (2007)

2006

  1. Pay for Short-Term Performance: Executive Compensation in Speculative Markets
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (3)

2005

  1. Contract theory
    ULB Institutional Repository, ULB -- Universite Libre de Bruxelles View citations (426)
    See also Book (2005)
  2. Structuring and Restructuring Sovereign Debt: The Role of Seniority
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (17)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2005) Downloads View citations (12)
  3. Thinking Ahead: The Decision Problem
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (1)
    See also Journal Article in Review of Economic Studies (2009)

2004

  1. Conflicts of Interest and Credible Information Provision by Specialized and One-Stop Banks
    Econometric Society 2004 North American Winter Meetings, Econometric Society Downloads
  2. Conflicts of Interest, Information Provision and Competition in Banking
    Working Papers, Barcelona Graduate School of Economics Downloads View citations (8)
    Also in Economics Working Papers, Department of Economics and Business, Universitat Pompeu Fabra (2004) Downloads View citations (1)
    NBER Working Papers, National Bureau of Economic Research, Inc (2004) Downloads View citations (7)
  3. Exit Options in Corporate Finance: Liquidity versus Incentives
    Scholarly Articles, Harvard University Department of Economics Downloads View citations (41)
    See also Journal Article in Review of Finance (2004)
  4. The firm as a communication network
    ULB Institutional Repository, ULB -- Universite Libre de Bruxelles View citations (2)
    Also in ULB Institutional Repository, ULB -- Universite Libre de Bruxelles (1994) View citations (227)
    ULB Institutional Repository, ULB -- Universite Libre de Bruxelles (1996)

2003

  1. Corporate governance and control
    ULB Institutional Repository, ULB -- Universite Libre de Bruxelles View citations (64)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2002) Downloads View citations (51)

    See also Chapter (2003)
  2. Executive Compensation and Short-termist Behavior in Speculative Markets
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (8)
    Also in Levine's Working Paper Archive, David K. Levine (2003) Downloads View citations (19)

    See also Journal Article in Review of Economic Studies (2006)
  3. Incomplete Social Contracts
    Scholarly Articles, Harvard University Department of Economics Downloads View citations (53)
    See also Journal Article in Journal of the European Economic Association (2003)
  4. The Great Divide and Beyond - Financial Architecture in Transition
    CEPR Discussion Papers, C.E.P.R. Discussion Papers Downloads View citations (2)
    Also in William Davidson Institute Working Papers Series, William Davidson Institute at the University of Michigan (2001) Downloads View citations (3)

    See also Journal Article in Journal of Economic Perspectives (2002)
  5. Toward a Statutory Approach to Sovereign Debt Restructuring; Lessons From Corporate Bankruptcy Practice Around the World
    IMF Working Papers, International Monetary Fund Downloads View citations (3)

2001

  1. Corporate Finance and the Monetary Transmission Mechanism
    CEPR Discussion Papers, C.E.P.R. Discussion Papers Downloads View citations (8)
    Also in Economics Working Papers, Department of Economics and Business, Universitat Pompeu Fabra (2000) Downloads View citations (9)

    See also Journal Article in Review of Financial Studies (2006)
  2. Ownership and Managerial Competition: Employee, Customer, or Outside Ownership
    STICERD - Theoretical Economics Paper Series, Suntory and Toyota International Centres for Economics and Related Disciplines, LSE Downloads
    Also in William Davidson Institute Working Papers Series, William Davidson Institute at the University of Michigan (1998) Downloads View citations (2)
    LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library (2001) Downloads

2000

  1. Contagious bank failures in a free banking system
    Scholarly Articles, Harvard University Department of Economics Downloads View citations (42)
    See also Journal Article in European Economic Review (2000)
  2. Ownership and Marginal Competition: Employee, Customer and Outside Ownership
    Working Papers, Chicago - Graduate School of Business

1999

  1. Ownership and Managerial Competition: Employee, Customer, and Outside Ownership
    CID Working Papers, Center for International Development at Harvard University Downloads View citations (1)
  2. Predatory Pricing: Strategic Theory and Legal Policy
    Discussion Paper, Tilburg University, Center for Economic Research Downloads
  3. The Political Economy of Debt Moratoria, Bailouts and Bankruptcy
    Research Department Publications, Inter-American Development Bank, Research Department Downloads

1998

  1. A Dilution Cost Approach to Financial Intermediation and Securities Markets
    FMG Discussion Papers, Financial Markets Group Downloads View citations (3)
    Also in Discussion Paper, Tilburg University, Center for Economic Research (1998) Downloads View citations (5)
    Economics Working Papers, Department of Economics and Business, Universitat Pompeu Fabra (1997) Downloads View citations (2)
  2. Contracten, incentives en het reveleren van informatie
    ULB Institutional Repository, ULB -- Universite Libre de Bruxelles

1997

  1. Liquidity and Control: A Dynamic Theory of Corporate Ownership Structure
    Cahiers de Recherches Economiques du Département d'économie, Université de Lausanne, Faculté des HEC, Département d’économie
    See also Journal Article in Journal of Institutional and Theoretical Economics (JITE) (1998)

1996

  1. Blocks, Liquidity, and Corporate Control
    Cahiers de Recherches Economiques du Département d'économie, Université de Lausanne, Faculté des HEC, Département d’économie View citations (12)
    Also in Discussion Paper, Tilburg University, Center for Economic Research (1996) Downloads
  2. Financial Restructuring in Transition Economies
    Discussion Paper, Tilburg University, Center for Economic Research Downloads View citations (6)
  3. Strategic Experimentation: A Revision
    Discussion Paper, Tilburg University, Center for Economic Research Downloads

1995

  1. The Break up of Nations: A Political Economy Analysis
    CEPR Discussion Papers, C.E.P.R. Discussion Papers Downloads View citations (28)
  2. The time and budget constraints of the firm
    ULB Institutional Repository, ULB -- Universite Libre de Bruxelles View citations (2)
    See also Journal Article in European Economic Review (1995)

1993

  1. Optimal Debt Structure with Multiple Creditors
    CEPR Financial Markets Paper, European Science Foundation Network in Financial Markets, c/o C.E.P.R, 33 Great Sutton Street, London EC1V 0DX. View citations (13)

1991

  1. Optimal learning by experimentation
    CEPREMAP Working Papers (Couverture Orange), CEPREMAP Downloads
    Also in DELTA Working Papers, DELTA (Ecole normale supérieure) (1990) View citations (14)

1990

  1. GOVERNMENT DOMESTIC DEBT AND THE RISK OF DEFAULT: A POLITICAL-ECONOMIC MODEL OF THE STRATEGIC ROLE OF DEBT
    DELTA Working Papers, DELTA (Ecole normale supérieure)
    Also in Working papers, Massachusetts Institute of Technology (MIT), Department of Economics (1989) View citations (1)

1988

  1. An `Incomplete Contract' Approach to Bankruptcy and the Financial Structure of the Firm
    Working papers, Massachusetts Institute of Technology (MIT), Department of Economics View citations (2)
  2. Learning Through Price Experimentation By a Monopolist Facing Unknown Demand
    Working papers, Massachusetts Institute of Technology (MIT), Department of Economics View citations (1)
    Also in Economics Working Papers, University of California at Berkeley (1987) View citations (1)

1987

  1. Learning Through Price Experimentation
    Department of Economics, Working Paper Series, Department of Economics, Institute for Business and Economic Research, UC Berkeley Downloads
  2. The Principle of Maximum Deterrence Revisited
    Economics Working Papers, University of California at Berkeley

Journal Articles

2013

  1. Loyalty-Shares: Rewarding Long-term Investors
    Journal of Applied Corporate Finance, 2013, 25, (3), 86-97 Downloads View citations (6)
  2. Market timing, investment, and risk management
    Journal of Financial Economics, 2013, 109, (1), 40-62 Downloads View citations (57)
    See also Working Paper (2011)
  3. Strategic conduct in credit derivative markets
    International Journal of Industrial Organization, 2013, 31, (5), 652-658 Downloads View citations (8)

2012

  1. Capital access bonds: contingent capital with an option to convert
    Economic Policy, 2012, 27, (70), 275-317 Downloads View citations (17)
  2. The Credit Ratings Game
    Journal of Finance, 2012, 67, (1), 85-112 Downloads View citations (181)
    See also Working Paper (2010)

2011

  1. A Unified Theory of Tobin's q, Corporate Investment, Financing, and Risk Management
    Journal of Finance, 2011, 66, (5), 1545-1578 Downloads View citations (108)
    See also Working Paper (2010)
  2. Credit Default Swaps and the Empty Creditor Problem
    Review of Financial Studies, 2011, 24, (8), 2617-2655 Downloads View citations (68)
    See also Working Paper (2010)
  3. Optimal Property Rights in Financial Contracting
    Review of Financial Studies, 2011, 24, (10), 3401-3433 Downloads View citations (7)
    See also Working Paper (2007)
  4. Outside and Inside Liquidity
    The Quarterly Journal of Economics, 2011, 126, (1), 259-321 Downloads View citations (39)
    See also Working Paper (2009)
  5. Sovereign Default Risk and Bank Fragility in Financially Integrated Economies
    IMF Economic Review, 2011, 59, (2), 162-194 Downloads View citations (162)
    See also Working Paper (2011)
  6. Why bank governance is different
    Oxford Review of Economic Policy, 2011, 27, (3), 437-463 Downloads View citations (27)
    See also Working Paper (2011)

2010

  1. Satisficing Contracts
    Review of Economic Studies, 2010, 77, (3), 937-971 Downloads View citations (5)
    See also Working Paper (2009)

2009

  1. Market and Public Liquidity
    American Economic Review, 2009, 99, (2), 594-99 Downloads View citations (2)
  2. Structuring and Restructuring Sovereign Debt: The Role of Seniority -super-1
    Review of Economic Studies, 2009, 76, (3), 879-902 Downloads View citations (29)
  3. Thinking Ahead: The Decision Problem
    Review of Economic Studies, 2009, 76, (4), 1205-1238 Downloads View citations (11)
    See also Working Paper (2005)

2007

  1. Conflicts of interest, information provision, and competition in the financial services industry
    Journal of Financial Economics, 2007, 85, (2), 297-330 Downloads View citations (57)
  2. Structuring and Restructuring Sovereign Debt: The Role of a Bankruptcy Regime
    Journal of Political Economy, 2007, 115, (6), 901-924 Downloads View citations (44)
    See also Working Paper (2007)

2006

  1. An introduction to the governance and taxation of not-for-profit organizations
    Journal of Accounting and Economics, 2006, 41, (3), 293-305 Downloads
  2. Corporate Finance and the Monetary Transmission Mechanism
    Review of Financial Studies, 2006, 19, (3), 829-870 Downloads View citations (92)
    See also Working Paper (2001)
  3. Executive Compensation and Short-Termist Behaviour in Speculative Markets
    Review of Economic Studies, 2006, 73, (3), 577-610 Downloads View citations (100)
    See also Working Paper (2003)

2004

  1. Exit Options in Corporate Finance: Liquidity versus Incentives
    Review of Finance, 2004, 8, (3), 327-353 Downloads View citations (40)
    See also Working Paper (2004)
  2. Liquidity and Financial Instability: An Introduction
    Journal of the European Economic Association, 2004, 2, (6), 925-928 Downloads View citations (1)

2003

  1. Incomplete Social Contracts
    Journal of the European Economic Association, 2003, 1, (1), 38-67 Downloads View citations (52)
    See also Working Paper (2003)

2002

  1. Banking in Emerging Markets
    Journal of Financial Intermediation, 2002, 11, (4), 362-365 Downloads View citations (7)
  2. Political Intervention in Debt Contracts
    Journal of Political Economy, 2002, 110, (5), 1103-1134 Downloads View citations (42)
  3. The Great Divide and Beyond: Financial Architecture in Transition
    Journal of Economic Perspectives, 2002, 16, (1), 77-100 Downloads View citations (95)
    See also Working Paper (2003)

2000

  1. Comment on Who Should Act as Lender of Last Resort? An Incomplete Contracts Model
    Journal of Money, Credit and Banking, 2000, 32, (3), 606-10 View citations (2)
  2. Contagious bank failures in a free banking system
    European Economic Review, 2000, 44, (4-6), 713-718 Downloads View citations (44)
    See also Working Paper (2000)
  3. Equity, Bonds, and Bank Debt: Capital Structure and Financial Market Equilibrium under Asymmetric Information
    Journal of Political Economy, 2000, 108, (2), 324-351 Downloads View citations (174)

1999

  1. Optimal Design of Bank Bailouts: The Case of Transition Economies
    Journal of Institutional and Theoretical Economics (JITE), 1999, 155, (1), 51- View citations (77)
  2. Strategic Experimentation
    Econometrica, 1999, 67, (2), 349-374 View citations (157)

1998

  1. Corporate Finance, the Theory of the Firm, and Organizations
    Journal of Economic Perspectives, 1998, 12, (4), 95-114 Downloads View citations (51)
  2. Liquidity and Control: A Dynamic Theory of Corporate Ownership Structure
    Journal of Institutional and Theoretical Economics (JITE), 1998, 154, (1), 177- View citations (13)
    See also Working Paper (1997)

1996

  1. Distributional Conflicts, Factor Mobility, and Political Integration
    American Economic Review, 1996, 86, (2), 99-104 Downloads View citations (34)
  2. Economic theories of the break-up and integration of nations
    European Economic Review, 1996, 40, (3-5), 697-705 Downloads View citations (78)
  3. Optimal Debt Structure and the Number of Creditors
    Journal of Political Economy, 1996, 104, (1), 1-25 Downloads View citations (391)

1995

  1. Privatization and the separation of ownership and control: lessons from Chinese enterprise reform
    The Economics of Transition, 1995, 3, (1), 1-11 Downloads View citations (12)
  2. The time and budget constraints of the firm
    European Economic Review, 1995, 39, (3-4), 691-699 Downloads View citations (2)
    See also Working Paper (1995)

1992

  1. Distribution and growth in models of imperfect capital markets
    European Economic Review, 1992, 36, (2-3), 603-611 Downloads View citations (50)

1990

  1. A Theory of Predation Based on Agency Problems in Financial Contracting
    American Economic Review, 1990, 80, (1), 93-106 Downloads View citations (465)
  2. Decentralization, Duplication, and Delay
    Journal of Political Economy, 1990, 98, (4), 803-26 Downloads View citations (60)
  3. Renegotiation and the dynamics of contract design
    European Economic Review, 1990, 34, (2-3), 303-310 Downloads View citations (27)

1989

  1. The financial structure of the firm and the problem of control
    European Economic Review, 1989, 33, (2-3), 286-293 Downloads View citations (12)

1987

  1. Contracts as a Barrier to Entry
    American Economic Review, 1987, 77, (3), 388-401 View citations (327)

Books

2005

  1. Contract Theory, vol 1
    MIT Press Books, The MIT Press View citations (401)
    See also Working Paper (2005)

Chapters

2012

  1. Authority in Organizations
    A chapter in The Handbook of Organizational Economics, 2012

2011

  1. Covenant Lite Lending, Liquidity, and Standardization of Financial Contracts
    Chapter 8 in Research Handbook on the Economics of Property Law, 2011 Downloads

2007

  1. Corporate Law and Governance
    Elsevier Downloads View citations (1)
    See also Working Paper (2007)

2003

  1. Corporate governance and control
    Chapter 01 in Handbook of the Economics of Finance, 2003, vol. 1, Part 1, pp 1-109 Downloads View citations (91)
    See also Working Paper (2003)
 
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