Patrick Bolton

Columbia Business School - Department of Economics

Barbara and David Zalaznick Professor of Business

420 West 118th Street

New York, NY 10027

United States

http://www0.gsb.columbia.edu/faculty/pbolton/

Centre for Economic Policy Research (CEPR)

Fellow

77 Bastwick Street

London, EC1V 3PZ

United Kingdom

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue

Cambridge, MA 02138

United States

European Corporate Governance Institute (ECGI)

Fellow

c/o ECARES ULB CP 114

B-1050 Brussels

Belgium

http://www.ecgi.org

SCHOLARLY PAPERS

53

DOWNLOADS
Rank 152

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Top 152

in Total Papers Downloads

58,622

CITATIONS
Rank 571

SSRN RANKINGS

Top 571

in Total Papers Citations

865

Scholarly Papers (53)

1.
Downloads 39,178 ( 26)
Citation 236

Corporate Governance and Control

ECGI - Finance Working Paper No. 02/2002
Number of pages: 128 Posted: 31 Oct 2002
Marco Becht, Patrick Bolton and Ailsa Röell
Solvay Brussels School of Economics and Management (ULB), Columbia Business School - Department of Economics and Columbia University, School of International and Public Affairs
Downloads 38,967 (26)
Citation 235

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Corporate governance, ownership, takeovers, block holders, boards

Corporate Governance and Control

NBER Working Paper No. w9371
Number of pages: 168 Posted: 06 Dec 2002 Last Revised: 30 Oct 2010
Marco Becht, Patrick Bolton and Ailsa Röell
Solvay Brussels School of Economics and Management (ULB), Columbia Business School - Department of Economics and Columbia University, School of International and Public Affairs
Downloads 211 (123,766)
Citation 236

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2.

Executive Compensation and Risk Taking

FRB of New York Staff Report No. 456
Number of pages: 44 Posted: 07 Jul 2010 Last Revised: 14 Nov 2011
Patrick Bolton, Hamid Mehran and Joel D. Shapiro
Columbia Business School - Department of Economics, Independent and University of Oxford - Said Business School
Downloads 2,130 (3,971)
Citation 34

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executive compensation, risk taking

3.
Downloads 1,720 ( 7,595)
Citation 15

Market Timing, Investment, and Risk Management

AFA 2012 Chicago Meetings Paper
Number of pages: 59 Posted: 16 Mar 2010 Last Revised: 29 Mar 2012
Patrick Bolton, Hui Chen and Neng Wang
Columbia Business School - Department of Economics, Massachusetts Institute of Technology and Columbia Business School - Finance and Economics
Downloads 1,681 (7,728)
Citation 15

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risk management, liquidity, financial crisis, market timing, investment, q theory

Market Timing, Investment, and Risk Management

NBER Working Paper No. w16808
Number of pages: 55 Posted: 28 Feb 2011
Patrick Bolton, Hui Chen and Neng Wang
Columbia Business School - Department of Economics, Massachusetts Institute of Technology and Columbia Business School - Finance and Economics
Downloads 39 (381,802)
Citation 15

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A Unified Theory of Tobin's Q, Corporate Investment, Financing, and Risk Management

Journal of Finance, Forthcoming , AFA 2010 Atlanta Meetings Paper
Number of pages: 50 Posted: 19 Mar 2009 Last Revised: 12 Jul 2011
Patrick Bolton, Hui Chen and Neng Wang
Columbia Business School - Department of Economics, Massachusetts Institute of Technology and Columbia Business School - Finance and Economics
Downloads 1,147 (14,299)
Citation 32

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investment, q theory, cash management, liquidity, hedging, payout, financing

A Unified Theory of Tobin's Q, Corporate Investment, Financing, and Risk Management

NBER Working Paper No. w14845
Number of pages: 57 Posted: 07 Apr 2009 Last Revised: 26 Jul 2010
Patrick Bolton, Hui Chen and Neng Wang
Columbia Business School - Department of Economics, Massachusetts Institute of Technology and Columbia Business School - Finance and Economics
Downloads 178 (145,331)
Citation 33

Abstract:

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Pay for Short-Term Performance: Executive Compensation in Speculative Markets

ECGI - Finance Working Paper No. 79/2005
Number of pages: 52 Posted: 25 Mar 2005
Patrick Bolton, Wei Xiong and Jose A. Scheinkman
Columbia Business School - Department of Economics, Princeton University - Department of Economics and Columbia University
Downloads 1,220 (12,963)
Citation 23

Abstract:

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executive compensation, shareholders conflict

Pay for Short-Term Performance: Executive Compensation in Speculative Markets

NBER Working Paper No. w12107
Number of pages: 28 Posted: 15 May 2006 Last Revised: 02 Aug 2010
Patrick Bolton, Jose A. Scheinkman and Wei Xiong
Columbia Business School - Department of Economics, Columbia University and Princeton University - Department of Economics
Downloads 60 (314,588)
Citation 23

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6.
Downloads 1,261 ( 12,553)
Citation 87

The Credit Ratings Game

EFA 2009 Bergen Meetings Paper
Number of pages: 46 Posted: 16 Feb 2009
Patrick Bolton, Xavier Freixas and Joel Shapiro
Columbia Business School - Department of Economics, Universitat Pompeu Fabra and Universitat Pompeu Fabra - Faculty of Economic and Business Sciences
Downloads 791 (24,985)
Citation 87

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The Credit Ratings Game

Number of pages: 46 Posted: 01 Jul 2009
Patrick Bolton, Xavier Freixas and Joel Shapiro
Columbia Business School - Department of Economics, Universitat Pompeu Fabra and Universitat Pompeu Fabra - Faculty of Economic and Business Sciences
Downloads 367 (67,686)
Citation 87

Abstract:

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Credit rating agencies, conflicts of interest, ratings shopping

The Credit Ratings Game

NBER Working Paper No. w14712
Number of pages: 47 Posted: 17 Feb 2009 Last Revised: 14 Sep 2010
Patrick Bolton, Xavier Freixas and Joel D. Shapiro
Columbia Business School - Department of Economics, Universitat Pompeu Fabra and University of Oxford - Said Business School
Downloads 103 (226,558)
Citation 87

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7.
Downloads 932 ( 19,951)
Citation 12

Cream Skimming in Financial Markets

Number of pages: 49 Posted: 28 Feb 2011 Last Revised: 25 Jun 2014
Patrick Bolton, Tano Santos and Jose A. Scheinkman
Columbia Business School - Department of Economics, Columbia Business School and Columbia University
Downloads 916 (20,091)
Citation 12

Abstract:

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Cream Skimming in Financial Markets

NBER Working Paper No. w16804
Number of pages: 52 Posted: 28 Feb 2011
Patrick Bolton, Tano Santos and Jose A. Scheinkman
Columbia Business School - Department of Economics, Columbia Business School and Columbia University
Downloads 16 (497,152)
Citation 12

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8.
Downloads 782 ( 25,829)
Citation 31

Credit Default Swaps and the Empty Creditor Problem

Review of Financial Studies (2011), 24(8): 2617-2655
Number of pages: 59 Posted: 13 Mar 2010 Last Revised: 10 Dec 2015
Patrick Bolton and Martin Oehmke
Columbia Business School - Department of Economics and London School of Economics & Political Science (LSE) - Department of Finance
Downloads 743 (27,255)
Citation 31

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Credit Default Swaps and the Empty Creditor Problem

NBER Working Paper No. w15999
Number of pages: 46 Posted: 04 Jun 2010 Last Revised: 20 Sep 2010
Patrick Bolton and Martin Oehmke
Columbia Business School - Department of Economics and London School of Economics & Political Science (LSE) - Department of Finance
Downloads 39 (381,802)
Citation 31

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9.
Downloads 715 ( 29,265)

Debt, Taxes, and Liquidity

Columbia Business School Research Paper No. 14-17
Number of pages: 43 Posted: 13 Mar 2014 Last Revised: 22 Nov 2014
Patrick Bolton, Hui Chen and Neng Wang
Columbia Business School - Department of Economics, Massachusetts Institute of Technology and Columbia Business School - Finance and Economics
Downloads 702 (29,485)

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Capital structure, liquidity, cash, financing frictions, marginal tax benefit of debt, tradeoff theory

Debt, Taxes, and Liquidity

NBER Working Paper No. w20009
Number of pages: 61 Posted: 31 Mar 2014
Patrick Bolton, Hui Chen and Neng Wang
Columbia Business School - Department of Economics, Massachusetts Institute of Technology and Columbia Business School - Finance and Economics
Downloads 13 (514,743)

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Corporate Finance and the Monetary Transmission Mechanism

Number of pages: 48 Posted: 21 Nov 2000
Patrick Bolton and Xavier Freixas
Columbia Business School - Department of Economics and Universitat Pompeu Fabra
Downloads 666 (31,708)
Citation 35

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monetary transmission, asymmetric information, capital constraint

Corporate Finance and the Monetary Transmission Mechanism

CEPR Discussion Paper No. 2892
Number of pages: 53 Posted: 01 Aug 2001
Patrick Bolton and Xavier Freixas
Columbia Business School - Department of Economics and Universitat Pompeu Fabra
Downloads 31 (414,765)
Citation 35
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Monetary policy, monetary policy, corporate finance, equity capital adequacy constraints

Executive Compensation and Short-Termist Behavior in Speculative Markets

Number of pages: 55 Posted: 28 May 2003
Patrick Bolton, Wei Xiong and Jose A. Scheinkman
Columbia Business School - Department of Economics, Princeton University - Department of Economics and Columbia University
Downloads 609 (35,741)
Citation 88

Abstract:

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Executive Compensation, Short-term Behavior, Speculative Market, Corporate Governance

Executive Compensation and Short-Termist Behavior in Speculative Markets

NBER Working Paper No. w9722
Number of pages: 56 Posted: 25 May 2006 Last Revised: 02 Nov 2010
Patrick Bolton, Wei Xiong and Jose A. Scheinkman
Columbia Business School - Department of Economics, Princeton University - Department of Economics and Columbia University
Downloads 41 (374,255)
Citation 88

Abstract:

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Executive Compensation and Short-Termist Behavior in Speculative Markets

Review of Economic Studies, Forthcoming
Posted: 30 Nov 2005
Patrick Bolton, Jose A. Scheinkman and Wei Xiong
Columbia Business School - Department of Economics, Columbia University and Princeton University - Department of Economics

Abstract:

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Executive Compensation, Over-investment, Short-term Behavior, Speculative Markets

12.
Downloads 633 ( 34,471)
Citation 5

Leadership, Coordination and Mission-Driven Management

AFA 2009 San Francisco Meetings Paper
Number of pages: 44 Posted: 17 Mar 2008
Columbia Business School - Department of Economics, Princeton University - Department of Economics and New York University - Stern School of Business
Downloads 569 (39,139)
Citation 5

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leadership, CEO overconfidence, coordination games

Leadership, Coordination and Mission-Driven Management

NBER Working Paper No. w14339
Number of pages: 44 Posted: 15 Sep 2008 Last Revised: 07 Sep 2010
Columbia Business School - Department of Economics, Princeton University - Department of Economics and New York University - Stern School of Business
Downloads 64 (304,095)
Citation 5

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13.

Hedging Climate Risk

Financial Analysts Journal, vol. 72, no. 3 (May/June 2016 Forthcoming)
Number of pages: 50 Posted: 24 Sep 2014 Last Revised: 12 Apr 2016
Mats Andersson, Patrick Bolton and Frédéric Samama
AP4, Columbia Business School - Department of Economics and SWF Research Initiative, Amundi
Downloads 621 (16,921)

Abstract:

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Climate Risk, Green Index, Tracking Error, Free Option on Carbon

14.

L-Shares: Rewarding Long-Term Investors

ECGI - Finance Working Paper No. 342/2013
Number of pages: 45 Posted: 13 Dec 2012 Last Revised: 24 Feb 2013
Patrick Bolton and Frédéric Samama
Columbia Business School - Department of Economics and SWF Research Initiative, Amundi
Downloads 609 (20,770)
Citation 2

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Exit, Voice, Loyalty, Long-term Investors

15.
Downloads 385 ( 64,575)
Citation 3

Optimal Property Rights in Financial Contracting

Number of pages: 38 Posted: 29 May 2007
Kenneth Ayotte and Patrick Bolton
University of California, Berkeley - School of Law and Columbia Business School - Department of Economics
Downloads 340 (74,087)
Citation 3

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property rights, contracts, legal rules, covenants, bankruptcy

Optimal Property Rights in Financial Contracting

NBER Working Paper No. w13316
Number of pages: 39 Posted: 24 Aug 2007 Last Revised: 18 Oct 2007
Kenneth Ayotte and Patrick Bolton
University of California, Berkeley - School of Law and Columbia Business School - Department of Economics
Downloads 45 (360,178)
Citation 3

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16.

Strategic Experimentation: A Revision

Number of pages: 54 Posted: 09 Apr 1997
Patrick Bolton and Christopher Harris
Columbia Business School - Department of Economics and University of Cambridge - Department of Applied Economics
Downloads 320 (78,107)

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17.
Downloads 317 ( 80,819)
Citation 6

Should Derivatives Be Privileged in Bankruptcy?

Journal of Finance (2015), 70(6), 2352-2394
Number of pages: 58 Posted: 16 Mar 2012 Last Revised: 10 Dec 2015
Patrick Bolton and Martin Oehmke
Columbia Business School - Department of Economics and London School of Economics & Political Science (LSE) - Department of Finance
Downloads 293 (87,892)
Citation 6

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Derivatives, Swaps, Automatic Stay, Chapter 11, QFCs, Safe Harbors

Should Derivatives Be Privileged in Bankruptcy?

NBER Working Paper No. w17599
Number of pages: 57 Posted: 21 Nov 2011
Patrick Bolton and Martin Oehmke
Columbia Business School - Department of Economics and London School of Economics & Political Science (LSE) - Department of Finance
Downloads 24 (450,660)
Citation 6

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18.
Downloads 287 ( 90,415)

The Capital Structure of Nations

Columbia Business School Research Paper No. 16-44
Number of pages: 62 Posted: 02 Jun 2016 Last Revised: 14 Jun 2017
Patrick Bolton and Haizhou Huang
Columbia Business School - Department of Economics and China International Capital Corporation Limited
Downloads 262 (99,150)

Abstract:

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Sovereign Financial Structure, Money, Domestic-currency Liabilities, Foreign-currency Debt

The Capital Structure of Nations

NBER Working Paper No. w23612
Number of pages: 63 Posted: 25 Jul 2017
Patrick Bolton and Haizhou Huang
Columbia Business School - Department of Economics and China International Capital Corporation Limited
Downloads 25 (445,043)
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The Capital Structure of Nations

CEPR Discussion Paper No. DP12157
Number of pages: 65 Posted: 25 Jul 2017
Patrick Bolton and Haizhou Huang
Columbia Business School - Department of Economics and China International Capital Corporation Limited
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Conflicts of Interest, Information Provision and Competition in Banking

Universitat Pompeu Fabra Economics and Business Working Paper No. 760
Number of pages: 45 Posted: 12 Jul 2004
Patrick Bolton, Xavier Freixas and Joel Shapiro
Columbia Business School - Department of Economics, Universitat Pompeu Fabra and Universitat Pompeu Fabra - Faculty of Economic and Business Sciences
Downloads 218 (119,852)
Citation 28

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Conflicts of interest, information provision, one-stop

Conflicts of Interest, Information Provision, and Competition in Banking

NBER Working Paper No. w10571
Number of pages: 46 Posted: 04 Jul 2004
Patrick Bolton, Xavier Freixas and Joel Shapiro
Columbia Business School - Department of Economics, Universitat Pompeu Fabra and Universitat Pompeu Fabra - Faculty of Economic and Business Sciences
Downloads 55 (328,645)
Citation 28

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20.

Odious Debts or Odious Regimes?

Law & Contemporary Problems, Vol. 70, p. 83, Autumn 2007, U of Penn, Inst for Law & Econ Research Paper No. 07-30
Number of pages: 25 Posted: 07 Nov 2007 Last Revised: 29 Jun 2011
Patrick Bolton and David A. Skeel Jr.
Columbia Business School - Department of Economics and University of Pennsylvania Law School
Downloads 261 (94,004)

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Odious debt doctrine, legal history, international law, politics, systematic suppression, systematic looting, tyranny, UN, United Nations, IMF, International Monetary Fund, sovereign debt, national debt, repayment, forgiveness

21.
Downloads 256 (102,154)
Citation 26

Outside and Inside Liquidity

The Quarterly Journal of Economics, Vol. 126, No. 1, pp. 259-321, 2011, Columbia Business School Research Paper No. 11-30, Economic Theory Center Working Paper No. 35-2012
Number of pages: 66 Posted: 22 Oct 2011 Last Revised: 31 May 2012
Patrick Bolton, Tano Santos and Jose A. Scheinkman
Columbia Business School - Department of Economics, Columbia Business School and Columbia University
Downloads 180 (143,846)
Citation 26

Abstract:

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Outside and Inside Liquidity

NBER Working Paper No. w14867
Number of pages: 59 Posted: 13 Apr 2009 Last Revised: 17 Aug 2010
Patrick Bolton, Tano Santos and Jose A. Scheinkman
Columbia Business School - Department of Economics, Columbia Business School and Columbia University
Downloads 76 (275,922)
Citation 26

Abstract:

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Capital Access Bonds: Contingent Capital with an Option to Convert

Number of pages: 46 Posted: 17 Nov 2011
Patrick Bolton and Frédéric Samama
Columbia Business School - Department of Economics and SWF Research Initiative, Amundi
Downloads 228 (114,501)
Citation 5

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contingent capital, counter-cyclical investment, banking

Capital Access Bonds: Contingent Capital with an Option to Convert

Economic Policy, Vol. 27, Issue 70, pp. 275-317, 2012
Number of pages: 43 Posted: 09 Apr 2012
Patrick Bolton and Frédéric Samama
Columbia Business School - Department of Economics and SWF Research Initiative, Amundi
Downloads 3 (570,538)
Citation 5
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23.

Inside the Black Box: How Should a Sovereign Bankruptcy Framework Be Structured?

Emory Law Journal, Vol. 53, pp. 763, 2004, U of Penn, Inst for Law & Econ Research Paper No. 05-03
Number of pages: 60 Posted: 10 Feb 2005 Last Revised: 29 Jun 2011
David A. Skeel Jr. and Patrick Bolton
University of Pennsylvania Law School and Columbia Business School - Department of Economics
Downloads 225 (103,471)
Citation 7

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Bankruptcy, sovereign bankruptcy, bankruptcy framework, sovereign debt restructuring mechanism

Investment under Uncertainty and the Value of Real and Financial Flexibility

Columbia Business School Research Paper No. 14-1
Number of pages: 50 Posted: 07 Dec 2013 Last Revised: 28 Aug 2014
Patrick Bolton, Neng Wang and Jinqiang Yang
Columbia Business School - Department of Economics, Columbia Business School - Finance and Economics and Shanghai University of Finance and Economics
Downloads 211 (123,766)

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Investment Under Uncertainty and the Value of Real and Financial Flexibility

NBER Working Paper No. w20610
Number of pages: 49 Posted: 27 Oct 2014
Patrick Bolton, Neng Wang and Jinqiang Yang
Columbia Business School - Department of Economics, Columbia Business School - Finance and Economics and Shanghai University of Finance and Economics
Downloads 12 (520,681)

Abstract:

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25.

Structuring and Restructuring Sovereign Debt: The Role of a Bankruptcy Regime

IMF Working Paper No. 07/192
Number of pages: 29 Posted: 23 Aug 2007
Patrick Bolton and Olivier Jeanne
Columbia Business School - Department of Economics and International Monetary Fund (IMF) - Research Department
Downloads 176 (141,805)
Citation 23

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Sovereign debt, Debt restructuring, Bankruptcy, Sovereign Debt Restructuring Mechanism, Working Paper

26.

Toward a Statutory Approach to Sovereign Debt Restructuring: Lessons from Corporate Bankruptcy Practice Around the World

IMF Working Paper No. 03/13
Number of pages: 36 Posted: 28 Jan 2006
Patrick Bolton
Columbia Business School - Department of Economics
Downloads 167 (146,098)
Citation 13

Abstract:

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Bankruptcy, sovereign debt

27.
Downloads 149 (169,699)
Citation 6

Intracompany Governance and Innovation

Number of pages: 86 Posted: 03 Aug 2009 Last Revised: 15 Jun 2014
Sharon Belenzon, Tomer Berkovitz and Patrick Bolton
Duke University, Columbia Business School and Columbia Business School - Department of Economics
Downloads 131 (188,993)
Citation 6

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governance, innovation, patents

Intracompany Governance and Innovation

NBER Working Paper No. w15304
Number of pages: 88 Posted: 31 Aug 2009 Last Revised: 29 Oct 2014
Sharon Belenzon, Tomer Berkovitz and Patrick Bolton
Duke University, Columbia Business School and Columbia Business School - Department of Economics
Downloads 18 (485,606)
Citation 6

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28.

Conflicts of Interest and Credible Information Provision by Specialized and One-Stop Banks

EFA 2003 Annual Conference Paper No. 344
Number of pages: 27 Posted: 21 Jul 2003
Xavier Freixas, Patrick Bolton and Joel Shapiro
Universitat Pompeu Fabra, Columbia Business School - Department of Economics and Universitat Pompeu Fabra - Faculty of Economic and Business Sciences
Downloads 139 (174,504)
Citation 3

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29.

Strategic Conduct in Credit Derivative Markets

International Journal of Industrial Organization (2013), 31(5): 652-658
Number of pages: 23 Posted: 30 Jan 2013 Last Revised: 10 Dec 2015
Patrick Bolton and Martin Oehmke
Columbia Business School - Department of Economics and London School of Economics & Political Science (LSE) - Department of Finance
Downloads 117 (187,271)
Citation 1

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Credit Default Swaps, Counterparty Risk, Naked CDS, Empty Creditors, CDS Auctions, Derivatives in Bankruptcy

30.
Downloads 99 (231,514)
Citation 1

Relationship and Transaction Lending in a Crisis

Bank of Italy Temi di Discussione (Working Paper) No. 917
Number of pages: 77 Posted: 12 Jul 2013
Columbia Business School - Department of Economics, Universitat Pompeu Fabra, Bank for International Settlements (BIS) and Bank of Italy
Downloads 54 (331,736)
Citation 1

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relationship banking, transaction banking, crisis

Relationship and Transaction Lending in a Crisis

BIS Working Paper No. 417
Number of pages: 68 Posted: 27 Feb 2014
Columbia Business School - Department of Economics, Universitat Pompeu Fabra, Bank for International Settlements (BIS) and Bank of Italy
Downloads 37 (389,458)
Citation 1

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Relationship Banking, Transaction Banking, Crisis

Relationship and Transaction Lending in a Crisis

NBER Working Paper No. w19467
Number of pages: 67 Posted: 28 Sep 2013
Columbia Business School - Department of Economics, Universitat Pompeu Fabra, Bank for International Settlements (BIS) and Bank of Italy
Downloads 8 (543,157)
Citation 1

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Relationship and Transaction Lending in a Crisis

CEPR Discussion Paper No. DP9662
Number of pages: 69 Posted: 24 Sep 2013
Columbia Business School - Department of Economics, Universitat Pompeu Fabra, Bank for International Settlements (BIS) and Bank of Italy
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Citation 1
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crisis, relationship banking, transaction banking

Ownership and Managerial Competition: Employee, Customer, or Outside Ownership

LSE STICERD Research Paper No. TE412
Number of pages: 43 Posted: 16 Jul 2008
Patrick Bolton and Chenggang Xu
Columbia Business School - Department of Economics and University of Hong Kong
Downloads 95 (239,624)
Citation 9

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Ownership and Managerial Competition: Employee, Customer, or Outside Ownership

Posted: 07 Jan 1999
Patrick Bolton and Chenggang Xu
Columbia Business School - Department of Economics and University of Hong Kong

Abstract:

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32.

Market and Public Liquidity

American Economic Review, Vol. 99, No. 2, 594-99, 2009, Economic Theory Center Working Paper No. 34-2012
Number of pages: 7 Posted: 22 Oct 2011
Patrick Bolton, Tano Santos and Jose A. Scheinkman
Columbia Business School - Department of Economics, Columbia Business School and Columbia University
Downloads 91 (220,812)
Citation 4

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33.

Barriers to Long-Term Cross-Border Investing: A Survey of Institutional Investor Perceptions

Rotman International Journal of Pension Management, Vol. 7, No. 2, 2014, Columbia Business School Research Paper No. 14-43, PBCSF-NIFR Research Paper No. 14-04
Number of pages: 11 Posted: 17 Sep 2014 Last Revised: 19 Feb 2016
Committee on Global Thought, Columbia University, Columbia Business School - Department of Economics, Columbia University, Tsinghua University - PBC School of Finance and SWF Research Initiative, Amundi
Downloads 71 (161,272)

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Co-investing, Investment Regulation, Pension Fund, Public Goods, Short-Termism, Sovereign Wealth Funds

Structuring and Restructuring Sovereign Debt: The Role of Seniority

NBER Working Paper No. w11071
Number of pages: 62 Posted: 16 Feb 2005 Last Revised: 02 Jun 2005
Patrick Bolton and Olivier Jeanne
Columbia Business School - Department of Economics and International Monetary Fund (IMF) - Research Department
Downloads 48 (350,475)
Citation 22

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Structuring and Restructuring Sovereign Debt: The Role of Seniority

CEPR Discussion Paper No. 4901
Number of pages: 63 Posted: 02 Jun 2005
Patrick Bolton and Olivier Jeanne
Columbia Business School - Department of Economics and International Monetary Fund (IMF) - Research Department
Downloads 19 (479,825)
Citation 22
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Sovereign debt, seniority, debt dilution, collective action clause, sovereign default

35.

Thinking Ahead: The Decision Problem

NBER Working Paper No. w11867
Number of pages: 48 Posted: 22 Jan 2006 Last Revised: 15 May 2006
Patrick Bolton and Antoine Faure-Grimaud
Columbia Business School - Department of Economics and London School of Economics
Downloads 66 (295,526)
Citation 8

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36.

The Great Divide and Beyond - Financial Architecture in Transition

CEPR Discussion Paper No. 3476
Number of pages: 56 Posted: 21 Feb 2003
Erik Berglöf and Patrick Bolton
Institute of Global Affairs, London School of Economics and Political Science and Columbia Business School - Department of Economics
Downloads 53 (329,659)
Citation 63
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Economic transition, financial development, fiscal discipline, rule of law

37.

Satisficing Contracts

NBER Working Paper No. w14654
Number of pages: 46 Posted: 19 Jan 2009
Patrick Bolton and Antoine Faure-Grimaud
Columbia Business School - Department of Economics and London School of Economics
Downloads 45 (353,749)
Citation 3

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Sovereign Default Risk and Bank Fragility in Financially Integrated Economies

NBER Working Paper No. w16899
Number of pages: 47 Posted: 28 Mar 2011
Patrick Bolton and Olivier Jeanne
Columbia Business School - Department of Economics and Johns Hopkins University - Department of Economics
Downloads 29 (424,246)
Citation 12

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Sovereign Default Risk and Bank Fragility in Financially Integrated Economies

CEPR Discussion Paper No. DP8358
Number of pages: 48 Posted: 04 May 2011
Patrick Bolton and Olivier Jeanne
Columbia Business School - Department of Economics and Johns Hopkins University - Department of Economics
Downloads 10 (532,076)
Citation 12
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banking, collateral, European debt crisis, European Monetary Union, financial contagion, government debt, government default, international financial integration

Sovereign Default Risk and Bank Fragility in Financially Integrated Economies

IMF Economic Review, Vol. 59, Issue 2, pp. 162-194, 2011
Number of pages: 33 Posted: 04 Jul 2011
Patrick Bolton and Olivier Jeanne
Columbia Business School - Department of Economics and International Monetary Fund (IMF) - Research Department
Downloads 2 (579,217)
Citation 12
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39.

The Political Economy of Debt Moratoria, Bailouts and Bankruptcy

IDB Working Paper No. 105
Number of pages: 37 Posted: 19 Apr 2011
Patrick Bolton and Howard Rosenthal
Columbia Business School - Department of Economics and New York University
Downloads 37 (363,679)
Citation 1

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40.

The Dynamics of Optimal Risk Sharing

NBER Working Paper No. w16094
Number of pages: 65 Posted: 21 Jun 2010
Patrick Bolton and Christopher Harris
Columbia Business School - Department of Economics and University of Cambridge - Department of Applied Economics
Downloads 35 (374,062)

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41.
Downloads 16 (514,976)

Coco Issuance and Bank Fragility

NBER Working Paper No. w23999
Number of pages: 75 Posted: 13 Nov 2017
Bank for International Settlements (BIS), Bank for International Settlements (BIS), Columbia Business School - Department of Economics, Columbia Business School - Finance and Economics and Bank for International Settlements
Downloads 7 (548,549)
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Coco Issuance and Bank Fragility

BIS Working Paper No. 678
Number of pages: 77 Posted: 11 Dec 2017
Bank for International Settlements (BIS), Bank for International Settlements (BIS), Columbia Business School - Department of Economics, Columbia Business School - Finance and Economics and Bank for International Settlements
Downloads 7 (559,015)

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CoCos, Contingent Convertible Capital, Bank Capital Regulation, Basel III

CoCo Issuance and Bank Fragility

CEPR Discussion Paper No. DP12418
Number of pages: 77 Posted: 06 Nov 2017
Bank for International Settlements (BIS), Bank for International Settlements (BIS), Columbia Business School - Department of Economics, Columbia Business School - Finance and Economics and Bank for International Settlements
Downloads 2 (579,217)
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Contingent convertible capital securities; Bail-in

42.

Loyalty‐Shares: Rewarding Long‐Term Investors

Journal of Applied Corporate Finance, Vol. 25, Issue 3, pp. 86-97, 2013
Number of pages: 14 Posted: 23 Dec 2013
Patrick Bolton and Frédéric Samama
Columbia Business School - Department of Economics and SWF Research Initiative, Amundi
Downloads 5 (533,962)
Citation 2
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43.

Liquidity and Risk Management: Coordinating Investment and Compensation Policies

NBER Working Paper No. w20979
Number of pages: 64 Posted: 02 Mar 2015
Patrick Bolton, Neng Wang and Jinqiang Yang
Columbia Business School - Department of Economics, Columbia Business School - Finance and Economics and Shanghai University of Finance and Economics
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44.

Governance and Climate Change: A Success Story in Mobilizing Investor Support for Corporate Responses to Climate Change

Journal of Applied Corporate Finance, Vol. 28, Issue 2, pp. 29-33, 2016
Posted: 12 Jul 2016
Mats Andersson, Patrick Bolton and Frédéric Samama
AP4, Columbia Business School - Department of Economics and SWF Research Initiative, Amundi
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45.

From Global Savings Glut to Financing Infrastructure: The Advent of Investment Platforms

IMF Working Paper No. 16/18
Number of pages: 48 Posted: 28 Mar 2016
International Monetary Fund (IMF), Columbia Business School - Department of Economics, Columbia University, SWF Research Initiative, Amundi and Columbia Business School - Finance and Economics
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projects, bank, risk, equity, General, Government Policy and Regulation, Other, Infrastructures, All Countries, Public Private Partnership, Long-term Investors

46.

Savings Gluts and Financial Fragility

Number of pages: 60 Posted: 08 Mar 2016 Last Revised: 24 May 2017
Patrick Bolton, Tano Santos and Jose A. Scheinkman
Columbia Business School - Department of Economics, Columbia Business School and Columbia University
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savings glut, cream skimming, incentives for origination, financial fragility

47.

Political Intervention in Debt Contracts

Journal of Political Economy, Vol. 110, October 2002
Posted: 07 Mar 2003
Patrick Bolton and Howard Rosenthal
Columbia Business School - Department of Economics and New York University

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48.

Predatory Pricing: Response to Critique and Further Elaboration

Georgetown Law Journal, Vol. 89, pp. 2495-2529, August 2001
Posted: 07 Jan 2002
Boston University School of Law, Columbia Business School - Department of Economics and Columbia University - Columbia Business School

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Predatory pricing, strategic theory, below-cost pricing, recoupment, efficiencies defense, robustness of strategic theory, business justification, reputation effect, test market predation, cost-signalling, financial market predation, pricing below-cost, Brooke Group v. Brown & Williamson

49.

Equity, Bonds, and Bank Debt: Capital Structure and Financial Market Equilibrium Under Asymmetric Information

Journal of Political Economy, Vol. 108, No. 2, April 2000
Posted: 30 Mar 2000
Patrick Bolton and Xavier Freixas
Columbia Business School - Department of Economics and Universitat Pompeu Fabra

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50.

Predatory Pricing: Strategic Theory and Legal Policy

Georgetown Law Review, August 2000
Posted: 20 Mar 2000
Columbia Business School - Department of Economics, Boston University School of Law and Columbia University - Columbia Business School

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51.

A Dilution Cost Approach to Financial Intermediation and Securities Markets

Posted: 13 Aug 1998
Patrick Bolton and Xavier Freixas
Columbia Business School - Department of Economics and Universitat Pompeu Fabra

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52.

Optimal Debt Structure and the Number of Creditors

J. OF POLITICAL ECONOMY, February 1996
Posted: 03 Jul 1998
Patrick Bolton and David S. Scharfstein
Columbia Business School - Department of Economics and Harvard Business School - Finance Unit

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53.

The Breakup of Nations: A Political Economy Analysis

QUARTERLY JOURNAL OF ECONOMICS Vol CXII Issue 4, November 1997
Posted: 10 Jun 1998
Patrick Bolton and Gérard Roland
Columbia Business School - Department of Economics and University of California, Berkeley - Department of Economics

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