Skip to main content
Official Logo of Columbia Business School
Academics
  • Visit Academics
  • Degree Programs
  • Admissions
  • Tuition & Financial Aid
  • Campus Life
  • Career Management
Faculty & Research
  • Visit Faculty & Research
  • Academic Divisions
  • Search the Directory
  • Research
  • Faculty Resources
  • Teaching Excellence
Executive Education
  • Visit Executive Education
  • For Organizations
  • For Individuals
  • Program Finder
  • Online Programs
  • Certificates
About Us
  • Visit About Us
  • CBS Directory
  • Events Calendar
  • Leadership
  • Our History
  • The CBS Experience
  • Newsroom
Alumni
  • Visit Alumni
  • Update Your Information
  • Lifetime Network
  • Alumni Benefits
  • Alumni Career Management
  • Women's Circle
  • Alumni Clubs
Insights
  • Visit Insights
  • Digital Future
  • Climate
  • Business & Society
  • Entrepreneurship
  • 21st Century Finance
  • Magazine

Breadcrumb

  1. Directory
  2. Faculty
  3. Lawrence Glosten

Lawrence Glosten

S. Sloan Colt Professor Emeritus of Banking and International Finance in the Faculty of Business
Finance Division
Lawrence Glosten
Areas of Expertise
Corporate Finance, Financial Engineering
Contact
Office: 333 Kravis
Phone: (646) 5961677
E-mail: lrg2@gsb.columbia.edu
Links
Personal Website

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).

Education
AB, Occidental, 1973; MS, Northwestern, 1977; PhD, 1980
Joined CBS
1989

All Activities

  • Research
  • Teaching
  • Achievements
  • Press
  • Authored Works
  • CaseWorks
  • Journal articles
  • Working papers
  • Articles
  • Books
  • Chapters
Journal Article
Fox, Merritt, Lawrence Glosten, and Gabriel Rauterberg. “The New Stock Market: Sense and Nonsense.”
Duke Law Journal
vol. 65, (November 01, 2015): 191-277.
Explore Further about The New Stock Market: Sense and Nonsense
Download PDF on The New Stock Market: Sense and Nonsense
Journal Article
Glosten, Lawrence, Merritt Fox, and Paul Tetlock. “Short Selling and the News: A Preliminary Report on an Empirical Study.”
New York Law School Law Review
vol. 54, (March 22, 2010): 645-686.
Explore Further about Short Selling and the News: A Preliminary Report on an Empirical Study
Download PDF on Short Selling and the News: A Preliminary Report on an Empirical Study
Journal Article
Arzac, Enrique and Lawrence Glosten. “A Reconsideration of Tax Shield Valuation.”
European Financial Management
vol. 11, (September 01, 2005): 453-61.
Explore Further about A Reconsideration of Tax Shield Valuation
Download PDF on A Reconsideration of Tax Shield Valuation
Journal Article
Glosten, Lawrence, Bruno Biais, and Chester Spatt. “Market Microstructure: A Survey of Microfoundations, Empirical Results, and Policy Implications.”
Journal of Financial Markets
vol. 8, (May 01, 2005): 217-64.
Explore Further about Market Microstructure: A Survey of Microfoundations, Empirical Results, and Policy Implications
Download PDF on Market Microstructure: A Survey of Microfoundations, Empirical Results, and Policy Implications
Journal Article
Glosten, Lawrence. “Introductory Comments: Bloomfield and O'Hara, and Flood, Huisman, Koedijk, and Mahieu.”
Review of Financial Studies
vol. 12, (January 01, 1999): 1-3.
Explore Further about Introductory Comments: Bloomfield and O'Hara, and Flood, Huisman, Koedijk, and Mahieu
Journal Article
Glosten, Lawrence. “Is the Electronic Open-Limit Order Book Inevitable?”
Journal of Finance
vol. 49, (September 01, 1994): 1127-61.
Explore Further about Is the Electronic Open-Limit Order Book Inevitable?
Download PDF on Is the Electronic Open-Limit Order Book Inevitable?
Journal Article
Glosten, Lawrence and Ravi Jaganathan. “A Contingent Claim Approach to Performance Evaluation.”
Journal of Empirical Finance
vol. 1, (January 01, 1994): 133-60.
Explore Further about A Contingent Claim Approach to Performance Evaluation
Download PDF on A Contingent Claim Approach to Performance Evaluation
Journal Article
Glosten, Lawrence, Ravi Jaganathan, and David E. Runkle. “On the Relation Between the Expected Value and the Volatility of the Nominal Excess Return on Stocks.”
Journal of Finance
vol. 48, (December 01, 1993): 1779-1801.
Explore Further about On the Relation Between the Expected Value and the Volatility of the Nominal Excess Return on Stocks
Download PDF on On the Relation Between the Expected Value and the Volatility of the Nominal Excess Return on Stocks
Journal Article
Glosten, Lawrence and Raphael Amit. “Challenges to Theory Development in Entrepreneurship Research.”
Journal of Management Studies
vol. 30, (September 01, 1993): 815-34.
Explore Further about Challenges to Theory Development in Entrepreneurship Research
Download PDF on Challenges to Theory Development in Entrepreneurship Research
Journal Article
Glosten, Lawrence, Raphael Amit, and Eitan Muller. “Entrepreneurial Ability, Venture Investments, and Risk Sharing.”
Management Science
vol. 36, (October 01, 1990): 1232-45.
Explore Further about Entrepreneurial Ability, Venture Investments, and Risk Sharing
Download PDF on Entrepreneurial Ability, Venture Investments, and Risk Sharing
Journal Article
Breen, William, Lawrence Glosten, and Ravi Jaganathan. “Economic Significance of Predictable Variations in Stock Index Returns.”
Journal of Finance
vol. 44, (December 01, 1989): 1177-89.
Explore Further about Economic Significance of Predictable Variations in Stock Index Returns
Download PDF on Economic Significance of Predictable Variations in Stock Index Returns
Journal Article
Glosten, Lawrence. “Insider Trading, Liquidity, and the Role of the Monopolist Specialist.”
Journal of Business
vol. 62, (April 01, 1989): 211-35.
Explore Further about Insider Trading, Liquidity, and the Role of the Monopolist Specialist
Download PDF on Insider Trading, Liquidity, and the Role of the Monopolist Specialist
Journal Article
Glosten, Lawrence and Lawrence Harris. “Estimating the Components of the Bid/Ask Spread.”
Journal of Financial Economics
vol. 21, (May 01, 1988): 123-42.
Explore Further about Estimating the Components of the Bid/Ask Spread
Download PDF on Estimating the Components of the Bid/Ask Spread
Journal Article
Glosten, Lawrence. “Components of the Bid-Ask Spread and the Statistical Properties of Transaction Prices.”
Journal of Finance
vol. 42, (December 01, 1987): 1293-1307.
Explore Further about Components of the Bid-Ask Spread and the Statistical Properties of Transaction Prices
Download PDF on Components of the Bid-Ask Spread and the Statistical Properties of Transaction Prices
Journal Article
Glosten, Lawrence and Paul Milgrom. “Bid, Ask, and Transaction Prices in a Specialist Market with Heterogeneously Informed Traders.”
Journal of Financial Economics
vol. 14, (March 01, 1985): 71-100.
Explore Further about Bid, Ask, and Transaction Prices in a Specialist Market with Heterogeneously Informed Traders
Download PDF on Bid, Ask, and Transaction Prices in a Specialist Market with Heterogeneously Informed Traders
Working Paper
Baruch, Shmuel and Lawrence Glosten. Flickering Quotes. June 01, 2013.
Explore Further about Flickering Quotes
Download PDF on Flickering Quotes
Working Paper
Glosten, Lawrence. Welfare cost of informed trade. August 10, 2010.
Explore Further about Welfare cost of informed trade
Download PDF on Welfare cost of informed trade
Newspaper/Magazine Article
Glosten, Lawrence and Charles Jones. “The Past, Present, and Future of Trading Stocks.” Financial Times. May 14, 2001.
Explore Further about The Past, Present, and Future of Trading Stocks
Download PDF on The Past, Present, and Future of Trading Stocks
Newspaper/Magazine Article
Glosten, Lawrence. “Book Review.” The Journal of Finance. February 01, 1989.
Explore Further about Book Review
Download PDF on Book Review
Newspaper/Magazine Article
Glosten, Lawrence. “300: Domestic Monetary and Fiscal Theory and Institutions.” Journal of Economic Literature. September 01, 1988.
Explore Further about 300: Domestic Monetary and Fiscal Theory and Institutions
Download PDF on 300: Domestic Monetary and Fiscal Theory and Institutions
Chapter
Ang, Andrew, Ann Bartel, Patrick Bolton, Wouter Dessein, Franklin Edwards, Lawrence Glosten, Geoffrey Heal, Gur Huberman, Charles Jones, Christopher Mayer, Frederic Mishkin, Eli Noam, Andrea Prat, Jonah Rockoff, Lynne Sagalyn, Stephen Zeldes, and Brian Thomas. “1. Finance and Economics.” In Columbia Business School, 1-28. Columbia University Press, 2016.
Explore Further about 1. Finance and Economics
  • Courses
  • Case Studies
Course
B9330: Microstructure Theory
View Course on Microstructure Theory
Course
B8326: Capital Markets Regulation
View Course on Capital Markets Regulation
  • Awards
  • Grants
  • In the Media
  • Articles
  • Articles
  • CaseWorks
Case ID
110311

Sedona: The End of a PIPE Dream

Sedona Corporation: How did a PIPE transaction prove almost fatal for an Internet company?

View Case on Sedona: The End of a PIPE Dream

External CSS

Official Logo of Columbia Business School

Columbia University in the City of New York
665 West 130th Street, New York, NY 10027
Tel. 212-854-1100

Maps and Directions
    • Centers & Programs
    • Current Students
    • Corporate
    • Directory
    • Support Us
    • Recruiters & Partners
    • Faculty & Staff
    • Newsroom
    • Careers
    • Contact Us
    • Accessibility
    • Privacy & Policy Statements
Back to Top Upward arrow
TOP

© Columbia University

  • X
  • Instagram
  • Facebook
  • YouTube
  • LinkedIn
Back to top

Accessibility Tools

English French German Italian Spanish Japanese Russian Chinese (Simplified) Chinese (Traditional) Arabic Bengali