Andrew WintonProfessor

Andrew WintonMinnesota Chair in Banking and Finance

CSOM Finance & Insurance
3-275 CarlSMgmt
321 19th Ave S
Minneapolis, MN  55455
Phone: 612/624-0589
Fax: 612/626-1335
winto003@umn.edu

Personal URL
Curriculum Vitae/Resume
Education
PhD, 1990, finance, University of Pennsylvania
MBA, 1982, finance, University of Pennsylvania
AB, 1980, mathematics, Princeton University

Research

Expertise
Financial contracting, security design, and corporate finance
Structure, behavior, and regulation of financial institutions

Current Research
How corporate fraud varies with business conditions
How bank loan rates vary with bank capital and borrower bargaining power
Credit default swaps and loan sales


Publications

Major Publications

  • "Bank Loans, Bonds, and Information Monopolies across the Business Cycle," J. Santos and A. Winton, Journal of Finance (2008).
  • "Entrepreneurial Finance: Banks versus Venture Capital," A. Winton and V. Yerramilli, Journal of Financial Economics (2008).
  • "Booms, Busts, and Fraud," P. Povel, R. Singh, and A. Winton, Review of Financial Studies (2007).
  • "Moral Hazard and Optimal Subsidiary Structure for Financial Institutions," C. Kahn and A. Winton, Journal of Finance (2004).
  • "Institutional Liquidity Needs and the Structure of Monitored Finance," A. Winton, Review of Financial Studies (2003).
  • "Risk Overhang and Market Structure," A. Gron and A. Winton, Journal of Business (2001).
  • "Banking in Transition Economies: Does Efficiency Require Instability?," G. Gorton and A. Winton, Journal of Money, Credit, and Banking (1998).
  • "Ownership Structure, Speculation, and Shareholder Intervention," C. Kahn and A. Winton, Journal of Finance (1998).
  • "Competition Among Financial Intermediaries When Diversification Matters," A. Winton, Journal of Financial Intermediation (1997).
  • "Covenants and Collateral as Incentives to Monitor," R. Rajan and A. Winton, Journal of Finance (1995).
  • "Delegated Monitoring and Bank Structure in a Finite Economy," A. Winton, Journal of Financial Intermediation (1995).
  • "Costly State Verification and Multiple Investors: The Role of Seniority," A. Winton, Review of Financial Studies (1995).
  • "Limitation of Liability and the Ownership Structure of the Firm," A. Winton, Journal of Finance (1993).

Instruction

Courses

Spring, 2010
FINA 6241 Corporate Finance Analysis and Decisions Sec.  090


Service

Current Editorial Appointments

  • Associate Editor, Journal of Finance
  • Associate Editor, Journal of Financial Intermediation

Scholarly Service and Honors

  • Minnesota Banking Industry Chair of Finance
  • Program Committee, Western Finance Association Meetings, 1996-2006
  • Program Committee, American Finance Association Meetings, 2000 and 2003
  • Program Committee, Financial Management Association Meetings, 1998