Lawrence R. Glosten
S. Sloan Colt Professor of Banking and International Finance
Finance
AB, Occidental, 1973; MS, Northwestern, 1977; PhD, 1980
Joined CBS in 1989
Office:
733
Kravis
Phone:
646-596-1677
E-mail:
[email protected]
Personal Website
Curriculum Vitae
Biography
Lawrence R. Glosten is the S. Sloan Colt Professor of Banking and International Finance at Columbia Business School. He is also co-director (with Merritt Fox and Ed Greene) of the Program in the Law and Economics of Capital Markets at Columbia Law School and Columbia Business School and is an adjunct faculty member at the Law School. He has been at Columbia since 1989, before which he taught at the Kellogg Graduate School of Management at Northwestern University, and has held visiting appointments at the University of Chicago and the University of Minnesota. He has published articles on the microstructure and industrial organization of securities markets; the relationship between venture capitalists and entrepreneurs; evaluating the performance of portfolio managers and asset pricing. His work on electronic exchanges in the Journal of Finance won a Smith Breeden Distinguished Paper Prize. He has served as an editor of the Review of Financial Studies, associate editor of the Journal of Finance and serves on several other editorial boards. He has been a consultant for the New York Stock Exchange, Justice Department, and SEC and has served on the NASDAQ Economic Advisory Board. He received his AB from Occidental College (1973) and his Ph.D. in managerial economics from Northwestern University (1980).
Teaching
Spring 2022
Spring 2021
Fall 2021
Capital Markets Regulation
(MBA)
Spring 2020
Corporate Finance
(EMBA)
Microstructure Theory
(PHD)
Spring 2019
Microstructure Theory
(PHD)
Corporate Finance
(EMBA)
Fall 2019
Capital Markets Regulation
(MBA)
Spring 2018
Capital Markets Regulation
(MBA)
Microstructure Theory
(PHD)
Fall 2018
Research
Journal articles
The New Stock Market: Sense and Nonsense
In Duke Law Journal
(2015)
Coauthor(s): Merritt Fox, Lawrence Glosten, Gabriel Rauterberg
Short Selling and the News: A Preliminary Report on an Empirical Study
In New York Law School Law Review
(2010)
Coauthor(s): Merritt Fox, Lawrence Glosten, Paul Tetlock
A Reconsideration of Tax Shield Valuation
In European Financial Management
(2005)
Coauthor(s): Enrique Arzac, Lawrence Glosten
Market Microstructure: A Survey of Microfoundations, Empirical Results, and Policy Implications
In Journal of Financial Markets
(2005)
Coauthor(s): Lawrence Glosten, Bruno Biais, Chester Spatt
Introductory Comments: Bloomfield and O'Hara, and Flood, Huisman, Koedijk, and Mahieu
In Review of Financial Studies
(1999)
Coauthor(s): Lawrence Glosten
Is the Electronic Open-Limit Order Book Inevitable?
In Journal of Finance
(1994)
Coauthor(s): Lawrence Glosten
A Contingent Claim Approach to Performance Evaluation
In Journal of Empirical Finance
(1994)
Coauthor(s): Lawrence Glosten, Ravi Jaganathan
On the Relation Between the Expected Value and the Volatility of the Nominal Excess Return on Stocks
In Journal of Finance
(1993)
Coauthor(s): Lawrence Glosten, Ravi Jaganathan, David E. Runkle
Challenges to Theory Development in Entrepreneurship Research
In Journal of Management Studies
(1993)
Coauthor(s): Lawrence Glosten, Raphael Amit
Entrepreneurial Ability, Venture Investments, and Risk Sharing
In Management Science
(1990)
Coauthor(s): Lawrence Glosten, Raphael Amit, Eitan Muller
Economic Significance of Predictable Variations in Stock Index Returns
In Journal of Finance
(1989)
Coauthor(s): William Breen, Lawrence Glosten, Ravi Jaganathan
Insider Trading, Liquidity, and the Role of the Monopolist Specialist
In Journal of Business
(1989)
Coauthor(s): Lawrence Glosten
Estimating the Components of the Bid/Ask Spread
In Journal of Financial Economics
(1988)
Coauthor(s): Lawrence Glosten, Lawrence Harris
Components of the Bid-Ask Spread and the Statistical Properties of Transaction Prices
In Journal of Finance
(1987)
Coauthor(s): Lawrence Glosten
Bid, Ask, and Transaction Prices in a Specialist Market with Heterogeneously Informed Traders
In Journal of Financial Economics
(1985)
Coauthor(s): Lawrence Glosten, Paul Milgrom
Working papers
Flickering Quotes
(2013)
Coauthor(s): Shmuel Baruch, Lawrence Glosten
Welfare cost of informed trade
(2010)
Coauthor(s): Lawrence Glosten
Book reviews
Book Review
In The Journal of Finance
(1988)
Coauthor(s): Lawrence Glosten
300: Domestic Monetary and Fiscal Theory and Institutions
In Journal of Economic Literature
(1988)
Coauthor(s): Lawrence Glosten
In The Media
For His next Trick, Barefoot Genius Aims to End Broker Rip-Offs
Quants, Currencies and Merger Pranks
Nasdaq Is Bullish on Times Square Backdrop
Press Releases
Newspaper articles
The Past, Present, and Future of Trading Stocks
In Financial Times
(2001)
Coauthor(s): Lawrence Glosten, Charles Jones