Details about Patrick Bolton
Access statistics for papers by Patrick Bolton.
Last updated 2023-02-24. Update your information in the RePEc Author Service.
Short-id: pbo544
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Working Papers
2023
- Firm Commitments
NBER Working Papers, National Bureau of Economic Research, Inc
2021
- Global Pricing of Carbon-Transition Risk
NBER Working Papers, National Bureau of Economic Research, Inc View citations (36)
2020
- Do Investors Care about Carbon Risk?
NBER Working Papers, National Bureau of Economic Research, Inc View citations (58)
- Dynamic Banking and the Value of Deposits
NBER Working Papers, National Bureau of Economic Research, Inc View citations (9)
Also in NBER Working Papers, National Bureau of Economic Research, Inc (2020) View citations (14)
2019
- Investor Ideology
NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)
2018
- Bank Resolution and the Structure of Global Banks
NBER Working Papers, National Bureau of Economic Research, Inc View citations (19)
2017
- CoCo Issuance and Bank Fragility
NBER Working Papers, National Bureau of Economic Research, Inc View citations (20)
- The Capital Structure of Nations
NBER Working Papers, National Bureau of Economic Research, Inc View citations (3)
2016
- Relationship and Transaction Lending in a Crisis
Working Papers, Barcelona School of Economics View citations (285)
Also in Temi di discussione (Economic working papers), Bank of Italy, Economic Research and International Relations Area (2013) View citations (55) NBER Working Papers, National Bureau of Economic Research, Inc (2013) View citations (60) BIS Working Papers, Bank for International Settlements (2013) View citations (57) Economics Working Papers, Department of Economics and Business, Universitat Pompeu Fabra (2013) View citations (57) CEPR Discussion Papers, C.E.P.R. Discussion Papers (2013) View citations (55)
2015
- Optimal Contracting, Corporate Finance, and Valuation with Inalienable Human Capital
NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)
2014
- Debt, Taxes, and Liquidity
NBER Working Papers, National Bureau of Economic Research, Inc View citations (10)
- Investment under Uncertainty with Financial Constraints
NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)
2011
- Cream Skimming in Financial Markets
NBER Working Papers, National Bureau of Economic Research, Inc View citations (45)
- Market Timing, Investment, and Risk Management
NBER Working Papers, National Bureau of Economic Research, Inc View citations (3)
See also Journal Article Market timing, investment, and risk management, Journal of Financial Economics, Elsevier (2013) View citations (145) (2013)
- Should Derivatives be Privileged in Bankruptcy?
NBER Working Papers, National Bureau of Economic Research, Inc View citations (5)
- Sovereign Default Risk and Bank Fragility in Financially Integrated Economies
NBER Working Papers, National Bureau of Economic Research, Inc View citations (302)
Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2011) View citations (288)
See also Journal Article Sovereign Default Risk and Bank Fragility in Financially Integrated Economies, IMF Economic Review, Palgrave Macmillan (2011) View citations (277) (2011)
- Why Bank Governance is Different
ULB Institutional Repository, ULB -- Universite Libre de Bruxelles View citations (66)
See also Journal Article Why bank governance is different, Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited (2011) View citations (62) (2011)
2010
- A unified theory of Tobin's q, corporate investment, financing, and risk management
2010 Meeting Papers, Society for Economic Dynamics 
Also in NBER Working Papers, National Bureau of Economic Research, Inc (2009) View citations (31)
See also Journal Article A Unified Theory of Tobin's q, Corporate Investment, Financing, and Risk Management, Journal of Finance, American Finance Association (2011) View citations (184) (2011)
- Credit Default Swaps and the Empty Creditor Problem
NBER Working Papers, National Bureau of Economic Research, Inc View citations (8)
See also Journal Article Credit Default Swaps and the Empty Creditor Problem, The Review of Financial Studies, Society for Financial Studies (2011) View citations (125) (2011)
- Executive compensation and risk taking
Staff Reports, Federal Reserve Bank of New York View citations (73)
- The Credit Ratings Game
Working Papers, Barcelona School of Economics View citations (36)
Also in NBER Working Papers, National Bureau of Economic Research, Inc (2009) View citations (25) Economics Working Papers, Department of Economics and Business, Universitat Pompeu Fabra (2010) View citations (14) Economics Working Papers, Department of Economics and Business, Universitat Pompeu Fabra (2009) View citations (24)
See also Journal Article The Credit Ratings Game, Journal of Finance, American Finance Association (2012) View citations (315) (2012)
- The Dynamics of Optimal Risk Sharing
Economics Working Papers, Institute for Advanced Study, School of Social Science 
Also in NBER Working Papers, National Bureau of Economic Research, Inc (2010)
2009
- Intracompany Governance and Innovation
NBER Working Papers, National Bureau of Economic Research, Inc View citations (8)
- Outside and Inside Liquidity
NBER Working Papers, National Bureau of Economic Research, Inc View citations (23)
See also Journal Article Outside and Inside Liquidity, The Quarterly Journal of Economics, President and Fellows of Harvard College (2011) View citations (79) (2011)
- Satisficing Contracts
NBER Working Papers, National Bureau of Economic Research, Inc View citations (3)
See also Journal Article Satisficing Contracts, The Review of Economic Studies, Review of Economic Studies Ltd (2010) View citations (8) (2010)
2008
- Leadership, Coordination and Mission-Driven Management
NBER Working Papers, National Bureau of Economic Research, Inc View citations (14)
2007
- Corporate law and governance
ULB Institutional Repository, ULB -- Universite Libre de Bruxelles View citations (8)
See also Chapter Corporate Law and Governance, Handbook of Law and Economics, Elsevier (2007) View citations (5) (2007)
- Optimal Property Rights in Financial Contracting
NBER Working Papers, National Bureau of Economic Research, Inc 
See also Journal Article Optimal Property Rights in Financial Contracting, The Review of Financial Studies, Society for Financial Studies (2011) View citations (12) (2011)
2006
- Pay for Short-Term Performance: Executive Compensation in Speculative Markets
NBER Working Papers, National Bureau of Economic Research, Inc View citations (8)
2005
- Contract theory
ULB Institutional Repository, ULB -- Universite Libre de Bruxelles View citations (425)
See also Book Contract Theory, MIT Press Books, The MIT Press (2005) View citations (758) (2005)
- Structuring and Restructuring Sovereign Debt: The Role of Seniority
CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (17)
Also in NBER Working Papers, National Bureau of Economic Research, Inc (2005) View citations (22)
- Thinking Ahead: The Decision Problem
NBER Working Papers, National Bureau of Economic Research, Inc View citations (4)
See also Journal Article Thinking Ahead: The Decision Problem, The Review of Economic Studies, Review of Economic Studies Ltd (2009) View citations (30) (2009)
2004
- Conflicts of Interest and Credible Information Provision by Specialized and One-Stop Banks
Econometric Society 2004 North American Winter Meetings, Econometric Society
- Conflicts of Interest, Information Provision and Competition in Banking
Working Papers, Barcelona School of Economics View citations (11)
Also in Economics Working Papers, Department of Economics and Business, Universitat Pompeu Fabra (2004) View citations (4) NBER Working Papers, National Bureau of Economic Research, Inc (2004) View citations (9)
- Exit Options in Corporate Finance: Liquidity versus Incentives
Scholarly Articles, Harvard University Department of Economics View citations (65)
See also Journal Article Exit Options in Corporate Finance: Liquidity versus Incentives, Review of Finance, Springer (2004) View citations (64) (2004)
- 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 (366) ULB Institutional Repository, ULB -- Universite Libre de Bruxelles (1996)
2003
- Corporate governance and control
ULB Institutional Repository, ULB -- Universite Libre de Bruxelles View citations (170)
Also in NBER Working Papers, National Bureau of Economic Research, Inc (2002) View citations (123)
See also Chapter Corporate governance and control, Handbook of the Economics of Finance, Elsevier (2003) View citations (171) (2003)
- Executive Compensation and Short-termist Behavior in Speculative Markets
Levine's Working Paper Archive, David K. Levine View citations (20)
Also in NBER Working Papers, National Bureau of Economic Research, Inc (2003) View citations (8)
See also Journal Article Executive Compensation and Short-Termist Behaviour in Speculative Markets, The Review of Economic Studies, Review of Economic Studies Ltd (2006) View citations (182) (2006)
- Incomplete Social Contracts
Scholarly Articles, Harvard University Department of Economics View citations (74)
See also Journal Article Incomplete Social Contracts, Journal of the European Economic Association, MIT Press (2003) View citations (75) (2003)
- The Great Divide and Beyond - Financial Architecture in Transition
CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (5)
Also in William Davidson Institute Working Papers Series, William Davidson Institute at the University of Michigan (2001) View citations (6)
See also Journal Article The Great Divide and Beyond: Financial Architecture in Transition, Journal of Economic Perspectives, American Economic Association (2002) View citations (131) (2002)
2001
- Corporate Finance and the Monetary Transmission Mechanism
CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (13)
Also in Economics Working Papers, Department of Economics and Business, Universitat Pompeu Fabra (2000) View citations (10)
See also Journal Article Corporate Finance and the Monetary Transmission Mechanism, The Review of Financial Studies, Society for Financial Studies (2006) View citations (158) (2006)
- 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 View citations (1)
Also in William Davidson Institute Working Papers Series, William Davidson Institute at the University of Michigan (1998) View citations (2) LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library (2001) View citations (1)
2000
- Contagious bank failures in a free banking system
Scholarly Articles, Harvard University Department of Economics View citations (66)
See also Journal Article Contagious bank failures in a free banking system, European Economic Review, Elsevier (2000) View citations (64) (2000)
- Ownership and Marginal Competition: Employee, Customer and Outside Ownership
Working Papers, Chicago - Graduate School of Business
1999
- Ownership and Managerial Competition: Employee, Customer, and Outside Ownership
CID Working Papers, Center for International Development at Harvard University View citations (5)
- Predatory Pricing: Strategic Theory and Legal Policy
Discussion Paper, Tilburg University, Center for Economic Research View citations (7)
- The Political Economy of Debt Moratoria, Bailouts and Bankruptcy
Research Department Publications, Inter-American Development Bank, Research Department
1998
- A Dilution Cost Approach to Financial Intermediation and Securities Markets
FMG Discussion Papers, Financial Markets Group View citations (1)
Also in Economics Working Papers, Department of Economics and Business, Universitat Pompeu Fabra (1997) View citations (2) Discussion Paper, Tilburg University, Center for Economic Research (1998) View citations (4)
- Contracten, incentives en het reveleren van informatie
ULB Institutional Repository, ULB -- Universite Libre de Bruxelles
1997
- 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 Liquidity and Control: A Dynamic Theory of Corporate Ownership Structure, Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen (1998) View citations (20) (1998)
1996
- 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) View citations (1)
- Financial Restructuring in Transition Economies
Discussion Paper, Tilburg University, Center for Economic Research View citations (6)
- Strategic Experimentation: A Revision
Discussion Paper, Tilburg University, Center for Economic Research
1995
- The Break up of Nations: A Political Economy Analysis
CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (33)
- The time and budget constraints of the firm
ULB Institutional Repository, ULB -- Universite Libre de Bruxelles View citations (4)
See also Journal Article The time and budget constraints of the firm, European Economic Review, Elsevier (1995) View citations (4) (1995)
1993
- 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 (15)
1991
- Optimal learning by experimentation
CEPREMAP Working Papers (Couverture Orange), CEPREMAP View citations (151)
Also in DELTA Working Papers, DELTA (Ecole normale supérieure) (1990)
1990
- 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 (2)
1988
- 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 (5)
- Learning Through Price Experimentation By a Monopolist Facing Unknown Demand
Working papers, Massachusetts Institute of Technology (MIT), Department of Economics View citations (2)
Also in Economics Working Papers, University of California at Berkeley (1987) View citations (1)
1987
- Learning Through Price Experimentation
Department of Economics, Working Paper Series, Department of Economics, Institute for Business and Economic Research, UC Berkeley
- The Principle of Maximum Deterrence Revisited
Economics Working Papers, University of California at Berkeley View citations (7)
Journal Articles
2013
- Loyalty-Shares: Rewarding Long-term Investors
Journal of Applied Corporate Finance, 2013, 25, (3), 86-97 View citations (16)
- Market timing, investment, and risk management
Journal of Financial Economics, 2013, 109, (1), 40-62 View citations (145)
See also Working Paper Market Timing, Investment, and Risk Management, NBER Working Papers (2011) View citations (3) (2011)
- Strategic conduct in credit derivative markets
International Journal of Industrial Organization, 2013, 31, (5), 652-658 View citations (18)
2012
- The Credit Ratings Game
Journal of Finance, 2012, 67, (1), 85-112 View citations (315)
See also Working Paper The Credit Ratings Game, Working Papers (2010) View citations (36) (2010)
2011
- A Unified Theory of Tobin's q, Corporate Investment, Financing, and Risk Management
Journal of Finance, 2011, 66, (5), 1545-1578 View citations (184)
See also Working Paper A unified theory of Tobin's q, corporate investment, financing, and risk management, 2010 Meeting Papers (2010) (2010)
- Credit Default Swaps and the Empty Creditor Problem
The Review of Financial Studies, 2011, 24, (8), 2617-2655 View citations (125)
See also Working Paper Credit Default Swaps and the Empty Creditor Problem, NBER Working Papers (2010) View citations (8) (2010)
- Optimal Property Rights in Financial Contracting
The Review of Financial Studies, 2011, 24, (10), 3401-3433 View citations (12)
See also Working Paper Optimal Property Rights in Financial Contracting, NBER Working Papers (2007) (2007)
- Outside and Inside Liquidity
The Quarterly Journal of Economics, 2011, 126, (1), 259-321 View citations (79)
See also Working Paper Outside and Inside Liquidity, NBER Working Papers (2009) View citations (23) (2009)
- Sovereign Default Risk and Bank Fragility in Financially Integrated Economies
IMF Economic Review, 2011, 59, (2), 162-194 View citations (277)
See also Working Paper Sovereign Default Risk and Bank Fragility in Financially Integrated Economies, NBER Working Papers (2011) View citations (302) (2011)
- Why bank governance is different
Oxford Review of Economic Policy, 2011, 27, (3), 437-463 View citations (62)
See also Working Paper Why Bank Governance is Different, ULB Institutional Repository (2011) View citations (66) (2011)
2010
- Satisficing Contracts
The Review of Economic Studies, 2010, 77, (3), 937-971 View citations (8)
See also Working Paper Satisficing Contracts, NBER Working Papers (2009) View citations (3) (2009)
2009
- Market and Public Liquidity
American Economic Review, 2009, 99, (2), 594-99 View citations (9)
- Structuring and Restructuring Sovereign Debt: The Role of Seniority -super-1
The Review of Economic Studies, 2009, 76, (3), 879-902 View citations (74)
- Thinking Ahead: The Decision Problem
The Review of Economic Studies, 2009, 76, (4), 1205-1238 View citations (30)
See also Working Paper Thinking Ahead: The Decision Problem, NBER Working Papers (2005) View citations (4) (2005)
2007
- Conflicts of interest, information provision, and competition in the financial services industry
Journal of Financial Economics, 2007, 85, (2), 297-330 View citations (96)
- Structuring and Restructuring Sovereign Debt: The Role of a Bankruptcy Regime
Journal of Political Economy, 2007, 115, (6), 901-924 View citations (72)
2006
- An introduction to the governance and taxation of not-for-profit organizations
Journal of Accounting and Economics, 2006, 41, (3), 293-305 View citations (1)
- Corporate Finance and the Monetary Transmission Mechanism
The Review of Financial Studies, 2006, 19, (3), 829-870 View citations (158)
See also Working Paper Corporate Finance and the Monetary Transmission Mechanism, CEPR Discussion Papers (2001) View citations (13) (2001)
- Executive Compensation and Short-Termist Behaviour in Speculative Markets
The Review of Economic Studies, 2006, 73, (3), 577-610 View citations (182)
See also Working Paper Executive Compensation and Short-termist Behavior in Speculative Markets, Levine's Working Paper Archive (2003) View citations (20) (2003)
2004
- Exit Options in Corporate Finance: Liquidity versus Incentives
Review of Finance, 2004, 8, (3), 327-353 View citations (64)
See also Working Paper Exit Options in Corporate Finance: Liquidity versus Incentives, Scholarly Articles (2004) View citations (65) (2004)
- Liquidity and Financial Instability: An Introduction
Journal of the European Economic Association, 2004, 2, (6), 925-928 View citations (2)
2003
- Incomplete Social Contracts
Journal of the European Economic Association, 2003, 1, (1), 38-67 View citations (75)
See also Working Paper Incomplete Social Contracts, Scholarly Articles (2003) View citations (74) (2003)
2002
- Banking in Emerging Markets
Journal of Financial Intermediation, 2002, 11, (4), 362-365 View citations (8)
- Political Intervention in Debt Contracts
Journal of Political Economy, 2002, 110, (5), 1103-1134 View citations (61)
- The Great Divide and Beyond: Financial Architecture in Transition
Journal of Economic Perspectives, 2002, 16, (1), 77-100 View citations (131)
See also Working Paper The Great Divide and Beyond - Financial Architecture in Transition, CEPR Discussion Papers (2003) View citations (5) (2003)
2000
- 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 (3)
- Contagious bank failures in a free banking system
European Economic Review, 2000, 44, (4-6), 713-718 View citations (64)
See also Working Paper Contagious bank failures in a free banking system, Scholarly Articles (2000) View citations (66) (2000)
- Equity, Bonds, and Bank Debt: Capital Structure and Financial Market Equilibrium under Asymmetric Information
Journal of Political Economy, 2000, 108, (2), 324-351 View citations (277)
1999
- Optimal Design of Bank Bailouts: The Case of Transition Economies
Journal of Institutional and Theoretical Economics (JITE), 1999, 155, (1), 51- View citations (95)
- Strategic Experimentation
Econometrica, 1999, 67, (2), 349-374 View citations (227)
1998
- Corporate Finance, the Theory of the Firm, and Organizations
Journal of Economic Perspectives, 1998, 12, (4), 95-114 View citations (71)
- Liquidity and Control: A Dynamic Theory of Corporate Ownership Structure
Journal of Institutional and Theoretical Economics (JITE), 1998, 154, (1), 177- View citations (20)
See also Working Paper Liquidity and Control: A Dynamic Theory of Corporate Ownership Structure, Cahiers de Recherches Economiques du Département d'économie (1997) (1997)
1996
- Distributional Conflicts, Factor Mobility, and Political Integration
American Economic Review, 1996, 86, (2), 99-104 View citations (44)
- Economic theories of the break-up and integration of nations
European Economic Review, 1996, 40, (3-5), 697-705 View citations (105)
- Optimal Debt Structure and the Number of Creditors
Journal of Political Economy, 1996, 104, (1), 1-25 View citations (553)
1995
- Privatization and the separation of ownership and control: lessons from Chinese enterprise reform
The Economics of Transition, 1995, 3, (1), 1-11 View citations (13)
- The time and budget constraints of the firm
European Economic Review, 1995, 39, (3-4), 691-699 View citations (4)
See also Working Paper The time and budget constraints of the firm, ULB Institutional Repository (1995) View citations (4) (1995)
1992
- Distribution and growth in models of imperfect capital markets
European Economic Review, 1992, 36, (2-3), 603-611 View citations (68)
1990
- A Theory of Predation Based on Agency Problems in Financial Contracting
American Economic Review, 1990, 80, (1), 93-106 View citations (700)
- Decentralization, Duplication, and Delay
Journal of Political Economy, 1990, 98, (4), 803-26 View citations (80)
- Renegotiation and the dynamics of contract design
European Economic Review, 1990, 34, (2-3), 303-310 View citations (40)
1989
- The financial structure of the firm and the problem of control
European Economic Review, 1989, 33, (2-3), 286-293 View citations (15)
1987
- Contracts as a Barrier to Entry
American Economic Review, 1987, 77, (3), 388-401 View citations (459)
Books
2005
- Contract Theory, vol 1
MIT Press Books, The MIT Press View citations (758)
See also Working Paper Contract theory, ULB Institutional Repository, ULB -- Universite Libre de Bruxelles (2005) View citations (425) (2005)
Chapters
2012
- Authority in Organizations
A chapter in The Handbook of Organizational Economics, 2012 View citations (7)
2011
- Covenant Lite Lending, Liquidity, and Standardization of Financial Contracts
Chapter 8 in Research Handbook on the Economics of Property Law, 2011 View citations (1)
2007
- Corporate Law and Governance
Elsevier View citations (5)
See also Working Paper Corporate law and governance, ULB -- Universite Libre de Bruxelles (2007) View citations (8) (2007)
2003
- Corporate governance and control
Chapter 01 in Handbook of the Economics of Finance, 2003, vol. 1, Part 1, pp 1-109 View citations (171)
See also Working Paper Corporate governance and control, ULB -- Universite Libre de Bruxelles (2003) View citations (170) (2003)
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