Professor Patrick Bolton

Professor Patrick Bolton joins the department as Professor of Finance and Economics’.

Professor Bolton received his PhD from the London School of Economics in 1986 and holds a BA in economics from the University of Cambridge and a BA in political science from the Institut d’Etudes Politiques de Paris.

Prior to his role at Imperial College Business School he joined Columbia Business School in July 2005. He began his career as an assistant professor at the University of California at Berkeley and then moved to Harvard University, joining their economics department.

His research and areas of interest are in contract theory and contracting issues in corporate finance and industrial organization. A central focus of his work is on the allocation of control and decision rights to contracting parties when long-term contracts are incomplete. This issue is relevant in many different contracting areas including: the firm’s choice of optimal debt structure, corporate governance and the firm’s optimal ownership structure, vertical integration, and constitution design. His work in industrial organization focuses on antitrust economics and the potential anti-competitive effects of various contracting practices.

Professor Ailsa Roell

Professor Ailsa Roell joins the department as Professor of Finance.

Professor Roell holds a PhD in political economy from Johns Hopkins University and an MSc in economics from the University of Groningen.

Along with her role at Imperial College Business School, Ailsa is a Professor of International and Public Affairs at Columbia University. She was previously a senior research scholar at Princeton University’s Bendheim Center for Finance, following a career on the faculty of the London School of Economics, Université Libre de Bruxelles, and Tilburg University.

Her academic specialty is financial economics and the regulation of financial markets. Her research and teaching spans securities markets, corporate finance, and corporate governance. She is the co-author of Market Liquidity, a textbook on stock market microstructure. Her research on corporate governance ranges from corporate governance in banks and the history of concentration of control, shareholder rights and takeover defense mechanisms in the Netherlands, to theoretical and empirical analyses of executive compensation, earnings manipulation, and class action litigation in the U.S.