Andrew Winton

University of Minnesota - Twin Cities - Carlson School of Management

321 19th Avenue South

Department of Finance

Minneapolis, MN 55455

United States

Shanghai Jiao Tong University (SJTU) - Shanghai Advanced Institute of Finance (SAIF)

Shanghai Jiao Tong University

211 West Huaihai Road

Shanghai, 200030

China

  • University of Minnesota - Twin Cities - Carlson School of Management

    • Email
    • Tel: 612-624-0589
    • Fax: 612-626-1335

  • Shanghai Jiao Tong University (SJTU) - Shanghai Advanced Institute of Finance (SAIF)

SCHOLARLY PAPERS

33

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337

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453

Scholarly Papers (33)

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1.

Liquidity Provision, Bank Capital, and the Macroeconomy

Number of pages: 63 Posted: 13 Dec 2000 Last Revised: 24 Sep 2016
Gary B. Gorton and Andrew Winton
Yale School of Management and University of Minnesota - Twin Cities - Carlson School of Management
Downloads 2,872 (7,705)
Citation 82

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Bank Capital, Liquidity

2.

Don't Put All Your Eggs in One Basket? Diversification and Specialization in Lending

Number of pages: 43 Posted: 02 Sep 1999
Andrew Winton
University of Minnesota - Twin Cities - Carlson School of Management
Downloads 2,002 (13,602)
Citation 178

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3.

Financial Intermediation

NBER Working Paper No. w8928
Number of pages: 140 Posted: 09 May 2002 Last Revised: 29 Nov 2022
Gary B. Gorton and Andrew Winton
Yale School of Management and University of Minnesota - Twin Cities - Carlson School of Management
Downloads 1,849 (15,447)
Citation 30

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4.

Corporate Fraud and Business Conditions: Evidence from IPOs

Journal of Finance, Forthcoming
Number of pages: 72 Posted: 22 Mar 2008 Last Revised: 14 May 2014
Tracy Yue Wang, Xiaoyun Yu and Andrew Winton
University of Minnesota - Twin Cities - Carlson School of Management, Shanghai Jiao Tong University (SJTU) - Shanghai Advanced Institute of Finance (SAIF) and University of Minnesota - Twin Cities - Carlson School of Management
Downloads 1,242 (28,199)
Citation 17

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initial public offerings, investor sentiment, corporate fraud, financial intermediations

5.

Entrepreneurial Finance: Banks Versus Venture Capital

Downloads 1,090 (33,991)
Citation 42

Entrepreneurial Finance: Banks Versus Venture Capital

Number of pages: 50 Posted: 17 Dec 2006
Andrew Winton and Vijay Yerramilli
University of Minnesota - Twin Cities - Carlson School of Management and University of Houston, C. T. Bauer College of Business
Downloads 623 (71,676)
Citation 13

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Venture capital, Contracting, Banks, Entrepreneur, Cost of capital

Entrepreneurial Finance: Banks Versus Venture Capital

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 45 Posted: 22 Jun 2007
Andrew Winton and Vijay Yerramilli
University of Minnesota - Twin Cities - Carlson School of Management and University of Houston, C. T. Bauer College of Business
Downloads 467 (102,550)
Citation 5

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Venture capital, Contracting, Banks, Entrepreneur, Cost of capital

6.

A Model of Entrepreneurial Finance

Number of pages: 40 Posted: 20 Jul 2004
Andrew Winton and Vijay Yerramilli
University of Minnesota - Twin Cities - Carlson School of Management and University of Houston, C. T. Bauer College of Business
Downloads 905 (44,192)
Citation 7

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Venture capital, entrepreneurial finance, monitoring, convertible debt

7.

Booms, Busts, and Fraud

Downloads 858 (47,544)
Citation 76

Booms, Busts, and Fraud

AFA 2005 Philadelphia Meetings
Number of pages: 43 Posted: 13 Dec 2004
Paul Povel, Rajdeep Singh and Andrew Winton
University of Houston - Department of Finance, C.T. Bauer College of Business, University of Minnesota - Twin Cities - Carlson School of Management and University of Minnesota - Twin Cities - Carlson School of Management
Downloads 533 (87,235)
Citation 11

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Boom, Credit Cycle, Fraud, Monitoring.

Booms, Busts, and Fraud

Review of Financial Studies, Forthcoming
Number of pages: 43 Posted: 11 Jan 2007
Paul Povel, Rajdeep Singh and Andrew Winton
University of Houston - Department of Finance, C.T. Bauer College of Business, University of Minnesota - Twin Cities - Carlson School of Management and University of Minnesota - Twin Cities - Carlson School of Management
Downloads 325 (154,983)
Citation 9

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Boom, Credit Cycle, Fraud, Monitoring

Booms, Busts, and Fraud

The Review of Financial Studies, Vol. 20, Issue 4, pp. 1219-1254, 2007
Posted: 25 Jun 2008
Paul Povel, Rajdeep Singh and Andrew Winton
University of Houston - Department of Finance, C.T. Bauer College of Business, University of Minnesota - Twin Cities - Carlson School of Management and University of Minnesota - Twin Cities - Carlson School of Management

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E320, G300, G380

8.

Bank Loans, Bonds, and Information Monopolies Across the Business Cycle

Downloads 842 (48,819)

Bank Loans, Bonds, and Information Monopolies Across the Business Cycle

AFA 2006 Boston Meetings Paper
Number of pages: 57 Posted: 26 Mar 2005
João A. C. Santos and Andrew Winton
Federal Reserve Bank of New York and University of Minnesota - Twin Cities - Carlson School of Management
Downloads 842 (48,133)
Citation 41

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bank loans, bonds, information rents, hold-up problem

Bank Loans, Bonds, and Information Monopolies Across the Business Cycle

Journal of Finance 63(3), 1315-1359, 2008.
Posted: 22 Jun 2007 Last Revised: 15 Jan 2021
João A. C. Santos and Andrew Winton
Federal Reserve Bank of New York and University of Minnesota - Twin Cities - Carlson School of Management

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bank loans, bonds, information rents, hold-up problem

9.

Competition and Corporate Fraud Waves

Downloads 754 (56,651)
Citation 5

Competition and Corporate Fraud Waves

7th Annual Conference on Empirical Legal Studies Paper
Number of pages: 48 Posted: 14 Mar 2011 Last Revised: 11 Jul 2012
Tracy Yue Wang and Andrew Winton
University of Minnesota - Twin Cities - Carlson School of Management and University of Minnesota - Twin Cities - Carlson School of Management
Downloads 434 (111,733)
Citation 7

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corporate securities fraud, misreporting, product market competition, boom, bust, investment, relative performance evaluation

Competition and Corporate Fraud Waves

Number of pages: 48 Posted: 17 Jul 2012 Last Revised: 06 Aug 2012
Tracy Yue Wang and Andrew Winton
University of Minnesota - Twin Cities - Carlson School of Management and University of Minnesota - Twin Cities - Carlson School of Management
Downloads 320 (157,593)
Citation 8

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corporate securities fraud, misreporting, product market competition, boom, bust, investment, relative performance evaluation

10.

Bank Capital, Borrower Power, and Loan Rates

EFA 2009 Bergen Meetings Paper, AFA 2010 Atlanta Meetings Paper, Review of Financial Studies 32(11), 4501-4541, 2019.
Number of pages: 49 Posted: 18 Feb 2009 Last Revised: 18 Jan 2021
João A. C. Santos and Andrew Winton
Federal Reserve Bank of New York and University of Minnesota - Twin Cities - Carlson School of Management
Downloads 740 (58,338)
Citation 22

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Bank loans, bank capital, loan spreads, cash flow, hold-up, information monopolies

11.

Laying Off Credit Risk: Loan Sales versus Credit Default Swaps

Number of pages: 40 Posted: 06 Sep 2008 Last Revised: 28 Apr 2009
Christine A. Parlour and Andrew Winton
University of California, Berkeley - Finance Group and University of Minnesota - Twin Cities - Carlson School of Management
Downloads 725 (59,739)
Citation 21

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loan sales, credit default swaps, credit risk, risk transfer, monitoring, banks

12.

Moral Hazard and Optimal Subsidiary Structure for Financial Institutions

Number of pages: 43 Posted: 26 Aug 2001
Charles M. Kahn and Andrew Winton
University of Illinois, Urbana-Champaign and University of Minnesota - Twin Cities - Carlson School of Management
Downloads 661 (67,324)
Citation 18

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financial institutions, subsidiaries, securitization, risk-shifting, moral hazard, corporate structure

13.

Risk Overhang and Loan Portfolio Decisions: Small Business Loan Supply Before and During the Financial Crisis

Journal of Finance, Forthcoming
Number of pages: 74 Posted: 07 Sep 2012 Last Revised: 29 Mar 2015
Robert DeYoung, Anne Gron, Gokhan Torna and Andrew Winton
University of Kansas School of Business, NERA Economic Consulting, State University of New York-Stony Brook University - College of Business and University of Minnesota - Twin Cities - Carlson School of Management
Downloads 521 (90,706)
Citation 31

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Portfolio Lending, risk overhang, small business lending

14.

Bank Monitoring and Corporate Fraud: Evidence from a Natural Experiment

Number of pages: 64 Posted: 10 Nov 2014 Last Revised: 29 Apr 2018
Minwen Li, Tanakorn Makaew and Andrew Winton
Tsinghua Universitiy - School of Economics and Management, University of Southern California and University of Minnesota - Twin Cities - Carlson School of Management
Downloads 403 (123,026)
Citation 3

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corporate securities fraud, misreporting, tunneling, bank monitoring

15.

Product Market Interactions and Corporate Fraud

Number of pages: 48 Posted: 19 Feb 2014
Tracy Yue Wang and Andrew Winton
University of Minnesota - Twin Cities - Carlson School of Management and University of Minnesota - Twin Cities - Carlson School of Management
Downloads 331 (152,841)
Citation 8

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corporate securities fraud, misreporting, product market interaction, boom, bust, relative performance evaluation

16.

Lender Moral Hazard and Reputation in Originate-to-Distribute Markets

Number of pages: 74 Posted: 17 Jan 2012 Last Revised: 26 Mar 2015
Andrew Winton and Vijay Yerramilli
University of Minnesota - Twin Cities - Carlson School of Management and University of Houston, C. T. Bauer College of Business
Downloads 296 (172,101)
Citation 8

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Monitoring, Reputation, Default

17.

Risk Overhang and Loan Portfolio Decisions

FRB Chicago Working Paper No. 2005-04
Number of pages: 42 Posted: 23 Aug 2005
Robert DeYoung, Anne Gron and Andrew Winton
University of Kansas School of Business, Northwestern University - Kellogg School of Management and University of Minnesota - Twin Cities - Carlson School of Management
Downloads 294 (173,339)
Citation 3

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commercial banks, loans, portfolio choice, risk overhang

18.

Risk Overhang and Market Behavior

Downloads 257 (198,699)

Risk Overhang and Market Behavior

Number of pages: 25 Posted: 14 Sep 1999
Anne Gron and Andrew Winton
Northwestern University - Kellogg School of Management and University of Minnesota - Twin Cities - Carlson School of Management
Downloads 257 (197,894)
Citation 4

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Risk Overhang and Market Behavior

Posted: 12 Feb 2001
Anne Gron and Andrew Winton
Northwestern University - Kellogg School of Management and University of Minnesota - Twin Cities - Carlson School of Management

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Insurance, insurance crisis, financial crisis, risk overhang, risk management

19.

Do Banks Still Monitor When There Is a Market for Credit Protection?

Journal of Accounting and Economics, Forthcoming
Number of pages: 62 Posted: 02 Nov 2018 Last Revised: 17 Jul 2019
Chenyu Shan, Dragon Yongjun Tang and Andrew Winton
Shanghai University of Finance and Economics, The University of Hong Kong - Faculty of Business and Economics and University of Minnesota - Twin Cities - Carlson School of Management
Downloads 253 (201,795)
Citation 22

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Credit default swaps, CDS, Collateral, Covenants

20.

Institutional Liquidity Needs and the Structure of Monitored Finance

Downloads 220 (231,054)
Citation 2

Institutional Liquidity Needs and the Structure of Monitored Finance

Number of pages: 40 Posted: 27 Dec 2000
Andrew Winton
University of Minnesota - Twin Cities - Carlson School of Management
Downloads 220 (230,403)
Citation 2

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liquidity, financial institutions, delegated monitoring

Institutional Liquidity Needs and the Structure of Monitored Finance

Posted: 26 Jul 2002
Andrew Winton
University of Minnesota - Twin Cities - Carlson School of Management

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financial institutions, banks, finance companies, life insurers, venture capital, liquidity costs, monitoring

21.

Bank Capital Regulation in General Equilibrium

Downloads 164 (300,176)

Bank Capital Regulation in General Equilibrium

NBER Working Paper No. w5244
Number of pages: 47 Posted: 13 Jul 2000 Last Revised: 31 Oct 2022
Gary B. Gorton and Andrew Winton
Yale School of Management and University of Minnesota - Twin Cities - Carlson School of Management
Downloads 164 (300,296)

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Bank Capital Regulation in General Equilibrium

Posted: 23 Aug 1998
Gary B. Gorton and Andrew Winton
Yale School of Management and University of Minnesota - Twin Cities - Carlson School of Management

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22.

Soft Collateral, Bank Lending, and the Optimal Credit Rating System

Number of pages: 60 Posted: 09 Jan 2017 Last Revised: 02 May 2023
Lixin Huang and Andrew Winton
Georgia State University and University of Minnesota - Twin Cities - Carlson School of Management
Downloads 115 (396,166)

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Soft Collateral, Bank Lending, Credit Rating, Credit Registry

23.

Cheating in China: Corporate Fraud and the Role of Financial Markets

Number of pages: 54 Posted: 18 Feb 2021
Minwen Li, Tanakorn Makaew and Andrew Winton
Tsinghua Universitiy - School of Economics and Management, University of Southern California and University of Minnesota - Twin Cities - Carlson School of Management
Downloads 114 (398,712)
Citation 1

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corporate securities fraud, misreporting, tunneling, insider trading, China, financial development.

24.

Loans and Lies: Does Bank Monitoring Reduce Corporate Misreporting?

Number of pages: 96 Posted: 04 Mar 2022
Minwen Li, Tanakorn Makaew and Andrew Winton
Tsinghua Universitiy - School of Economics and Management, University of Southern California and University of Minnesota - Twin Cities - Carlson School of Management
Downloads 106 (420,089)
Citation 1

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bank monitoring, corporate securities fraud, misreporting, banking liberalization

25.

Costly State Verification and Multiple Investors: The Role of Seniority

Posted: 26 Oct 1999
Andrew Winton
University of Minnesota - Twin Cities - Carlson School of Management

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26.

Corporate Financial Structure, Incentives and Optimal Contracting

Rodney L White Center for Financial Research 15-94
Posted: 06 Aug 1999
Franklin Allen and Andrew Winton
Imperial College London and University of Minnesota - Twin Cities - Carlson School of Management

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27.

Delegated Monitoring and Bank Structure in a Finite Economy

JOURNAL OF FINANCIAL INTERMEDIATION Vol 4 No 2
Posted: 10 Oct 1998
Andrew Winton
University of Minnesota - Twin Cities - Carlson School of Management

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28.

Banking in Transition Economies: Does Efficiency Require Instability?

Posted: 25 Aug 1998
Gary B. Gorton and Andrew Winton
Yale School of Management and University of Minnesota - Twin Cities - Carlson School of Management

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29.

Ownership Structure, Liquidity Demand, and Shareholder Monitoring

Posted: 16 May 1998
Charles M. Kahn and Andrew Winton
University of Illinois, Urbana-Champaign and University of Minnesota - Twin Cities - Carlson School of Management

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30.

Competition Among Financial Intermediaries When Diversification Matters

Journal of Financial Intermediation, Volume 6, Issue 4
Posted: 05 Mar 1998
Andrew Winton
University of Minnesota - Twin Cities - Carlson School of Management

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31.

Monitored Finance, Liquidity and Institutional Investment Choice

Finance Dept. Working Paper No. 221
Posted: 10 Feb 1997
Andrew Winton
University of Minnesota - Twin Cities - Carlson School of Management

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32.

Ownership Structure, Speculation, and Shareholder Intervention

Finance Department Working Paper No. 220
Posted: 15 Jan 1997
Charles M. Kahn and Andrew Winton
University of Illinois, Urbana-Champaign and University of Minnesota - Twin Cities - Carlson School of Management

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33.

Covenants and Collateral as Incentives to Monitor

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Covenants and Collateral as Incentives to Monitor

JOURNAL OF FINANCE, Vol. 50 No. 4, September 1995
Posted: 13 Oct 1995
Raghuram G. Rajan and Andrew Winton
University of Chicago - Booth School of Business and University of Minnesota - Twin Cities - Carlson School of Management

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Covenants and Collateral as Incentives to Monitor

Posted: 19 Sep 1994
Raghuram G. Rajan and Andrew Winton
University of Chicago - Booth School of Business and University of Minnesota - Twin Cities - Carlson School of Management

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