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Tano Santos: Distribution and Origination Incentives

Biography

Columbia Business School
David L. and Elsie M. Dodd Professor of Finance

Biography

Professor Santos' research focuses on two distinct areas. A first interest is the field of asset pricing with a particular emphasis on theoretical and empirical models that can account for the predictability of returns, both in the time series and the cross section. A second interest of Professor Santos is applied economic theory, specifically, the economics of financial innovations as well as theory of organizations. He teaches options markets.

Research

Journal articles

Cream Skimming in Financial Markets In The Journal of Finance (forthcoming)
Coauthor(s): Patrick Bolton, Tano Santos, Jose Scheinkman

Rational Inattention and Organizational Focus In American Economic Review (2016)
Coauthor(s): Wouter Dessein, Andrea Galeotti, Tano Santos

Outside and Inside Liquidity In The Quarterly Journal of Economics (2011)
Coauthor(s): Patrick Bolton, Tano Santos, Jose Scheinkman

Habit Formation, the Cross Section of Stock Returns and the Cash-Flow Risk Puzzle In Journal of Financial Economics (2010)
Coauthor(s): Tano Santos, Pietro Veronesi

Market and Public Liquidity In American Economic Review (2009)
Coauthor(s): Patrick Bolton, Tano Santos, Jose Scheinkman

Adaptive Organizations In Journal of Political Economy (2006)
Coauthor(s): Wouter Dessein, Tano Santos

Labor Income and Predictable Stock Returns In Review of Financial Studies (2006)
Coauthor(s): Tano Santos, Pietro Veronesi

Referrals In American Economic Review (2004)
Coauthor(s): Luis Garicano, Tano Santos

Understanding Predictability In Journal of Political Economy (2004)
Coauthor(s): Lior Menzly, Tano Santos, Pietro Veronesi

A Theory of Markets, Institutions, and Endogenous Preferences In Journal of Public Economics (2002)
Coauthor(s): Ignacio Palacios-Huerta, Tano Santos

Competition Among Exchanges In Quarterly Journal of Economics (2001)
Coauthor(s): Tano Santos, Jose Scheinkman

Financial Intermediation Without Exclusivity In American Economic Review (2001)
Coauthor(s): Tano Santos, Jose Scheinkman

Prospect Theory and Asset Prices In Quarterly Journal of Economics (2001)
Coauthor(s): Nicholas Barberis, Ming Huang, Tano Santos

Working papers

El Diluvio: The Spanish Banking Crisis, 2008–2012 (2017)
Coauthor(s): Tano Santos

Institutions and Political Party Systems: The Euro Case (2017)
Coauthor(s): Jesus Fernandez-Villaverde, Tano Santos

Habits and Leverage (2017)
Coauthor(s): Tano Santos, Pietro Veronesi

Savings Gluts and Financial Fragility (2017)
Coauthor(s): Patrick Bolton, Tano Santos, Jose Scheinkman

Managerial Style and Attention (2016)
Coauthor(s): Wouter Dessein, Tano Santos

Credit Booms: Implications for the Public and the Private Sector In Working Papers No. 481 (2015)
Coauthor(s): Tano Santos

Antes del diluvio: The Spanish banking system in the first decade of the euro (2014)
Coauthor(s): Tano Santos

Political Credit Cycles: The Case of the Euro Zone (2013)
Coauthor(s): Jesús Fernández-Villaverde, Luis Garicano, Tano Santos

Contractible Signals and Security Design (2005)
Coauthor(s): Kazuhiko Ohashi, Tano Santos

Ideas and Insights

What Do Financial Economists Have to Say About "Value"? (2011)

In The News

Magazine articles

De bancos y zombis In Expansión (2009)
Coauthor(s): Tano Santos

How to Prepare for Financial Meltdowns In Forbes.com (2009)
Coauthor(s): Bruce Kogut, Patrick Bolton, Tano Santos

Newspaper articles

Tras el Banco Base, volver a empezar In El País (2011)
Coauthor(s): Tano Santos

La bancarrota necesaria In El País (2010)
Coauthor(s): J. Fernández-Villaverde, L. Garicano, Tano Santos

Una España de dos velocidades In La Vanguardia (2010)
Coauthor(s): Tano Santos

España, desde fuera In El Paía (2010)
Coauthor(s): Tano Santos

España, en el ojo del huracán In El País (2010)
Coauthor(s): Tano Santos

Tarde, mal y nunca: una oportunidad perdida In El Mundo (2010)
Coauthor(s): Tano Santos

Recuperar la credibilidad In El PaÍs (2010)
Coauthor(s): Tano Santos

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