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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.

Teaching

Fall 2017

Value Investing (EMBA)

Spring 2017

Value Investing (MBA)
Value Investing with Legends (MBA)

Fall 2016

Value Investing (EMBA)
(PhD) Asset Pricing I (PHD)

Summer 2016

Modern Value (EMBA)

Spring 2016

Value Investing (EMBA)
Value Investing (MBA)
Value Investing with Legends (MBA)

Fall 2015

(PhD) Asset Pricing I (PHD)
Value Investing (EMBA)

Spring 2015

Value Investing (MBA)
Value Investing with Legends (MBA)
Value Investing (EMBA)

Fall 2014

(PhD) Asset Pricing I (PHD)
Value Investing (EMBA)

Spring 2014

Value Investing with Legends (MBA)
Value Investing (EMBA)

Fall 2013

(PhD) Asset Pricing I (PHD)
Value Investing (EMBA)

Spring 2013

Value Investing (MBA)

Fall 2012

(PhD) Asset Pricing I (PHD)

Spring 2012

Seminar in Value Investing (MBA)

Research

Journal articles

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

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

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

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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

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

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

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

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

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

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

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

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

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

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Working papers

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

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

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

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

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

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

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

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

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

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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

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

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Newspaper articles

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

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

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

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

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

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

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

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Education MBA, Harvard AB, Princeton Positions Held 2011-present, Lecturer, Haas School of Business 2002-present, Lester Center Fellow, Haas School of Business Chairman, Co-Founder – Zignal Labs Chairman, Co-Founder – Triporati Chairman, Co-Founder – LaunchPad Central Chairman, Co-Founder – M...
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Freddy Van den Spiegel is Adjunct Professor at Vlerick Business School. He built an extensive career in the financial sector. He was amongst others member of the board of directors of The Brussels Stock Exchange, Managing Director of Fortis Investments and Chief Economist at BNP Parisbas Fortis. ...