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Details about Michael Steven Weisbach

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Homepage:http://fisher.osu.edu/fin/faculty/weisbach/
Workplace:Fisher College of Business, Ohio State University, (more information at EDIRC)

Access statistics for papers by Michael Steven Weisbach.

Last updated 2017-07-07. Update your information in the RePEc Author Service.

Short-id: pwe127


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Working Papers

2017

  1. Assessing Managerial Ability: Implications for Corporate Governance
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads
  2. Corporate Liquidity, Acquisitions, and Macroeconomic Conditions
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads
  3. Price Risk, Production Flexibility, and Liquidity Management: Evidence from Electricity Generating Firms
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (1)

2016

  1. How Management Risk Affects Corporate Debt
    Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics Downloads View citations (1)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2016) Downloads View citations (1)
  2. Measuring Institutional Investors' Skill from Their Investments in Private Equity
    Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics Downloads View citations (1)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2016) Downloads View citations (1)
  3. The Liquidity Cost of Private Equity Investments: Evidence from Secondary Market Transactions
    Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics Downloads View citations (1)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2016) Downloads View citations (1)

2015

  1. Management Risk and the Cost of Borrowing
    Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics Downloads

2014

  1. Does Uncertainty about Management Affect Firms' Costs of Borrowing?
    Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics Downloads
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2014) Downloads
  2. Understanding Corporate Governance Through Learning Models of Managerial Competence
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (2)
    Also in Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics (2014) Downloads View citations (2)

2013

  1. CEO Investment Cycles
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (2)
    Also in Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics (2013) Downloads View citations (2)

    See also Journal Article in Review of Financial Studies (2016)
  2. Corporate Liquidity Management: A Conceptual Framework and Survey
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (3)
    Also in Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics (2013) Downloads View citations (3)

    See also Journal Article in Annual Review of Financial Economics (2014)
  3. Do Acquisitions Relieve Target Firms' Financial Constraints?
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (3)
    Also in Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics (2013) Downloads View citations (3)

    See also Journal Article in Journal of Finance (2015)
  4. Indirect Incentives of Hedge Fund Managers
    Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics Downloads View citations (6)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2013) Downloads View citations (6)

    See also Journal Article in Journal of Finance (2016)
  5. Learning about CEO Ability and Stock Return Volatility
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (4)
    Also in Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics (2013) Downloads View citations (5)

    See also Journal Article in Review of Financial Studies (2015)
  6. Limited Partner Performance and the Maturing of the Private Equity Industry
    Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics Downloads View citations (2)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2013) Downloads View citations (2)

    See also Journal Article in Journal of Financial Economics (2014)

2012

  1. Borrow Cheap, Buy High? The Determinants of Leverage and Pricing in Buyouts
    CEPR Discussion Papers, C.E.P.R. Discussion Papers Downloads View citations (4)
    Also in FMG Discussion Papers, Financial Markets Group (2012) Downloads View citations (2)
    LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library (2012) Downloads View citations (1)
    Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics (2010) Downloads View citations (4)
    NBER Working Papers, National Bureau of Economic Research, Inc (2010) Downloads View citations (6)

    See also Journal Article in Journal of Finance (2013)
  2. Equity-Holding Institutional Lenders: Do They Receive Better Terms?
    Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics Downloads
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2012) Downloads
  3. Financing-Motivated Acquisitions
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads
    Also in Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics (2012) Downloads
  4. Syndicated Loan Spreads and the Composition of the Syndicate
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads
    Also in Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics (2012) Downloads

    See also Journal Article in Journal of Financial Economics (2014)

2011

  1. Did Securitization Affect the Cost of Corporate Debt?
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (1)
    Also in Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics (2010) Downloads View citations (2)

    See also Journal Article in Journal of Financial Economics (2012)
  2. Information Disclosure and Corporate Governance
    SIFR Research Report Series, Institute for Financial Research Downloads View citations (2)
    Also in Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics (2009) Downloads View citations (2)

    See also Journal Article in Journal of Finance (2012)
  3. Macroeconomic Conditions and Capital Raising
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (1)
    Also in SIFR Research Report Series, Institute for Financial Research (2011) Downloads View citations (7)
    Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics (2011) Downloads View citations (1)

    See also Journal Article in Review of Financial Studies (2012)
  4. What Do Boards Really Do? Evidence from Minutes of Board Meetings
    Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics Downloads View citations (1)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2011) Downloads View citations (2)
  5. World Market for Mergers and Acquisitions
    SIFR Research Report Series, Institute for Financial Research Downloads
    Also in Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics (2009) Downloads View citations (5)
    NBER Working Papers, National Bureau of Economic Research, Inc (2009) Downloads View citations (6)

2010

  1. Incentives of Private Equity General Partners from Future Fundraising
    Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics Downloads
  2. Pay for Performance from Future Fund Flows: The Case of Private Equity
    SIFR Research Report Series, Institute for Financial Research Downloads View citations (5)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2010) Downloads View citations (5)

    See also Journal Article in Review of Financial Studies (2012)

2009

  1. Market Conditions and the Structure of Securities
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (2)
    Also in Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics (2009) Downloads
  2. The Role of Boards of Directors in Corporate Governance: A Conceptual Framework and Survey
    Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics Downloads View citations (2)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2008) Downloads View citations (12)

    See also Journal Article in Journal of Economic Literature (2010)
  3. The State of Corporate Governance Research
    Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics Downloads View citations (5)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2009) Downloads View citations (5)

    See also Chapter (2010)
    Journal Article in Review of Financial Studies (2010)

2008

  1. Corporate Financial and Investment Policies When Future Financing Is Not Frictionless
    Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics Downloads View citations (1)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2006) Downloads View citations (6)

    See also Journal Article in Journal of Corporate Finance (2011)
  2. Leverage and Pricing in Buyouts: An Empirical Analysis
    OFRC Working Papers Series, Oxford Financial Research Centre Downloads View citations (6)
    Also in Working Papers, University of Pennsylvania, Wharton School, Weiss Center (2008) Downloads View citations (14)
  3. What Determines the Structure of Corporate Debt Issues?
    Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics Downloads View citations (5)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2007) Downloads View citations (2)
  4. Why Are Buyouts Levered? The Financial Structure of Private Equity Funds
    Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics Downloads
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2007) Downloads View citations (4)
    SIFR Research Report Series, Institute for Financial Research (2007) Downloads View citations (3)

    See also Journal Article in Journal of Finance (2009)

2007

  1. Transparency and Corporate Governance
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (21)
  2. Why are Buyouts Leveraged? The Financial Structure of Private Equity Firms
    CEPR Discussion Papers, C.E.P.R. Discussion Papers Downloads View citations (4)

2006

  1. A Framework for Assessing Corporate Governance Reform
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (9)
  2. Optimal Executive Compensation vs. Managerial Power: A Review of Lucian Bebchuk and Jesse Fried's "Pay without Performance: The Unfulfilled Promise of Executive Compensation"
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (1)

2005

  1. Do Firms Go Public to Raise Capital?
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (8)
  2. Motivations for Public Equity Offers: An International Perspective
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads
    See also Journal Article in Journal of Financial Economics (2008)

2004

  1. Private Benefits and Cross-Listings in the United States
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (48)
    See also Journal Article in Emerging Markets Review (2004)
  2. World Markets for Raising New Capital
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (3)
    See also Journal Article in Journal of Financial Economics (2006)

2002

  1. Corporate Demand for Liquidity
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (9)
  2. Horses and Rabbits? Optimal Dynamic Capital Structure from Shareholder and Manager Perspectives
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (13)
  3. Measuring Investment Distortions when Risk-Averse Managers Decide Whether to Undertake Risky Projects
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (6)
    See also Journal Article in Financial Management (2005)

2001

  1. Boards of Directors as an Endogenously Determined Institution: A Survey of the Economic Literature
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (74)
    See also Journal Article in Economic Policy Review (2003)
  2. Hospital Governance, Performance Objectives, and Organizational Form
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (4)
  3. Protection of Minority Shareholder Interests, Cross-listings in the United States, and Subsequent Equity Offerings
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (52)
    See also Journal Article in Journal of Financial Economics (2002)
  4. The Economics of Has-Beens
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (9)
    See also Journal Article in Journal of Political Economy (2004)

1996

  1. Endogenously Chosen Boards of Directors and Their Monitoring of the CEO
    Microeconomics, EconWPA Downloads View citations (3)
    Also in Working Papers, University of California at Berkeley, Haas School of Business (1996) Downloads View citations (20)

    See also Journal Article in American Economic Review (1998)

1992

  1. Corporate Governance and Hostile Takeover
    Working Papers, Rochester, Business - Financial Research and Policy Studies
    See also Journal Article in Journal of Accounting and Economics (1993)

1991

  1. Incentives of Divisional Managers: Evidence from Texax Banks
    Working Papers, Rochester, Business - Managerial Economics Research Center

1990

  1. The Success of Acquisitions: Evidence From Disvestitures
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (3)
    See also Journal Article in Journal of Finance (1992)

1988

  1. THE ECONOMIC EFFECTS OF FRANCHISE TERMINATION LAWS
    Working Papers, Rochester, Business - Managerial Economics Research Center
    See also Journal Article in Journal of Law and Economics (1991)

Journal Articles

2016

  1. CEO Investment Cycles
    Review of Financial Studies, 2016, 29, (11), 2955-2999 Downloads View citations (1)
    See also Working Paper (2013)
  2. Indirect Incentives of Hedge Fund Managers
    Journal of Finance, 2016, 71, (2), 871-918 Downloads View citations (1)
    See also Working Paper (2013)

2015

  1. Do Acquisitions Relieve Target Firms’ Financial Constraints?
    Journal of Finance, 2015, 70, (1), 289-328 Downloads View citations (14)
    See also Working Paper (2013)
  2. Learning About CEO Ability and Stock Return Volatility
    Review of Financial Studies, 2015, 28, (6), 1623-1666 Downloads View citations (6)
    See also Working Paper (2013)

2014

  1. Corporate Liquidity Management: A Conceptual Framework and Survey
    Annual Review of Financial Economics, 2014, 6, (1), 135-162 Downloads View citations (13)
    See also Working Paper (2013)
  2. Limited partner performance and the maturing of the private equity industry
    Journal of Financial Economics, 2014, 112, (3), 320-343 Downloads View citations (11)
    See also Working Paper (2013)
  3. Syndicated loan spreads and the composition of the syndicate
    Journal of Financial Economics, 2014, 111, (1), 45-69 Downloads View citations (4)
    See also Working Paper (2012)

2013

  1. Borrow Cheap, Buy High? The Determinants of Leverage and Pricing in Buyouts
    Journal of Finance, 2013, 68, (6), 2223-2267 Downloads View citations (37)
    See also Working Paper (2012)
  2. What do boards really do? Evidence from minutes of board meetings☆☆Miriam Schwartz-Ziv is from Harvard University and Northeastern University, e-mail: miriam.schwartz@mail.huji.ac.il. Michael S. Weisbach is from Ohio State University, NBER, and SIFR, e-mail: weisbach@fisher.osu.edu. Miriam Schwartz-Ziv is very grateful to Eugene Kandel and Michael Weisbach, the co-advisors of her Hebrew University doctoral dissertation, upon which this paper is based. We thank the executive and non-executive employees of the Government Companies Authority of Israel who allowed us both formally and practically to conduct this research; the companies studied that kindly provided us with private and sensitive data; and seminar participants at Babson University, Brown University, Northeastern University, Ohio State University, Purdue University, the European Financial Management Association 2011 conference, the Western Economic Association 2012 conference, and the Financial Management Association 2012 conference, as well as the following people who shared their thoughts and advice at different stages of the preparation of this paper: Renée Adams, Amir Barnea, Steven Davidoff, Ada Demb, Dave Denis, Alon Eizenberg, Isil Erel, Rudi Fahlenbrach, Julian Franks, Ann Gillette, Ilan Guttman, Assaf Hamdani, Randal Heron, E. Han Kim, Stephanie Kramer, Saul Lach, Alexander Ljungqvist, Udi Nisan, Nadya Malenko, Avri Ravid, Artur Raviv, Karen Selody, Daniel Schwartz, Schraga Schwartz, Eytan Sheshinski, Léa Stern, Yuhai Xuan, Jun Yang, Scott Yonker, Tammar Zilber, and Clifford Smith, the referee, Miriam Schwartz-Ziv also thanks the Israeli Ministry of Science and Technology and Hebrew University's School of Business Administration for financial support
    Journal of Financial Economics, 2013, 108, (2), 349-366 Downloads

2012

  1. Did securitization affect the cost of corporate debt?
    Journal of Financial Economics, 2012, 105, (2), 332-352 Downloads View citations (18)
    See also Working Paper (2011)
  2. Information Disclosure and Corporate Governance
    Journal of Finance, 2012, 67, (1), 195-234 Downloads View citations (33)
    See also Working Paper (2011)
  3. Macroeconomic Conditions and Capital Raising
    Review of Financial Studies, 2012, 25, (2), 341-376 Downloads View citations (30)
    See also Working Paper (2011)
  4. Pay for Performance from Future Fund Flows: The Case of Private Equity
    Review of Financial Studies, 2012, 25, (11), 3259-3304 Downloads View citations (27)
    See also Working Paper (2010)

2011

  1. Corporate financial and investment policies when future financing is not frictionless
    Journal of Corporate Finance, 2011, 17, (3), 675-693 Downloads View citations (40)
    See also Working Paper (2008)

2010

  1. The Role of Boards of Directors in Corporate Governance: A Conceptual Framework and Survey
    Journal of Economic Literature, 2010, 48, (1), 58-107 Downloads View citations (201)
    See also Working Paper (2009)
  2. The State of Corporate Governance Research
    Review of Financial Studies, 2010, 23, (3), 939-961 Downloads View citations (35)
    See also Working Paper (2009)
    Chapter (2010)

2009

  1. Why Are Buyouts Levered? The Financial Structure of Private Equity Funds
    Journal of Finance, 2009, 64, (4), 1549-1582 Downloads View citations (35)
    See also Working Paper (2008)

2008

  1. Motivations for public equity offers: An international perspective
    Journal of Financial Economics, 2008, 87, (2), 281-307 Downloads View citations (87)
    See also Working Paper (2005)

2007

  1. Optimal Executive Compensation versus Managerial Power: A Review of Lucian Bebchuk and Jesse Fried's Pay without Performance: The Unfulfilled Promise of Executive Compensation
    Journal of Economic Literature, 2007, 45, (2), 419-428 Downloads View citations (14)

2006

  1. World markets for raising new capital
    Journal of Financial Economics, 2006, 82, (1), 63-101 Downloads View citations (75)
    See also Working Paper (2004)

2005

  1. Horses and Rabbits? Trade-Off Theory and Optimal Capital Structure
    Journal of Financial and Quantitative Analysis, 2005, 40, (02), 259-281 Downloads View citations (14)
  2. Measuring Investment Distortions when Risk-Averse Managers Decide Whether to Undertake Risky Projects
    Financial Management, 2005, 34, (1) View citations (28)
    See also Working Paper (2002)

2004

  1. Governance, performance objectives and organizational form: evidence from hospitals
    Journal of Corporate Finance, 2004, 10, (4), 527-548 Downloads View citations (17)
  2. Private benefits and cross-listings in the United States
    Emerging Markets Review, 2004, 5, (2), 217-240 Downloads View citations (68)
    See also Working Paper (2004)
  3. The Cash Flow Sensitivity of Cash
    Journal of Finance, 2004, 59, (4), 1777-1804 Downloads View citations (422)
  4. The Economics of Has-beens
    Journal of Political Economy, 2004, 112, (S1), S289-S310 Downloads View citations (10)
    See also Working Paper (2001)

2003

  1. Boards of directors as an endogenously determined institution: a survey of the economic literature
    Economic Policy Review, 2003, (Apr), 7-26 Downloads View citations (329)
    See also Working Paper (2001)

2002

  1. Protection of minority shareholder interests, cross-listings in the United States, and subsequent equity offerings
    Journal of Financial Economics, 2002, 66, (1), 65-104 Downloads View citations (168)
    See also Working Paper (2001)

2000

  1. Financial flexibility and the choice between dividends and stock repurchases
    Journal of Financial Economics, 2000, 57, (3), 355-384 Downloads View citations (173)

1999

  1. Measuring investment distortions arising from stockholder-bondholder conflicts
    Journal of Financial Economics, 1999, 53, (1), 3-42 Downloads View citations (65)

1998

  1. Actual Share Reacquisitions in Open-Market Repurchase Programs
    Journal of Finance, 1998, 53, (1), 313-333 Downloads View citations (134)
  2. Endogenously Chosen Boards of Directors and Their Monitoring of the CEO
    American Economic Review, 1998, 88, (1), 96-118 Downloads View citations (355)
    See also Working Paper (1996)
  3. Open-end mutual funds and capital-gains taxes
    Journal of Financial Economics, 1998, 49, (1), 3-43 Downloads View citations (35)
  4. The Influence of Institutions on Corporate Governance through Private Negotiations: Evidence from TIAA-CREF
    Journal of Finance, 1998, 53, (4), 1335-1362 Downloads View citations (82)

1995

  1. CEO turnover and the firm's investment decisions
    Journal of Financial Economics, 1995, 37, (2), 159-188 Downloads View citations (41)

1993

  1. Corporate governance and hostile takeovers
    Journal of Accounting and Economics, 1993, 16, (1-3), 199-208 Downloads View citations (12)
    See also Working Paper (1992)

1992

  1. The Success of Acquisitions: Evidence from Divestitures
    Journal of Finance, 1992, 47, (1), 107-38 Downloads View citations (127)
    See also Working Paper (1990)

1991

  1. An Agency Perspective on Franchising
    Financial Management, 1991, 20, (1) View citations (46)
  2. The Economic Effects of Franchise Termination Laws
    Journal of Law and Economics, 1991, 34, (1), 101-32 Downloads View citations (30)
    See also Working Paper (1988)
  3. The Effects of Board Composition and Direct Incentives on Firm Performance
    Financial Management, 1991, 20, (4) View citations (269)

1990

  1. Reversions of Excess Pension Assets after Takeovers
    RAND Journal of Economics, 1990, 21, (4), 600-613 Downloads View citations (24)

1988

  1. Outside directors and CEO turnover
    Journal of Financial Economics, 1988, 20, (1-2), 431-460 Downloads View citations (652)
  2. The Determinants of Board Composition
    RAND Journal of Economics, 1988, 19, (4), 589-606 Downloads View citations (106)

Books

2010

  1. Corporate Governance
    NBER Books, National Bureau of Economic Research, Inc View citations (13)

Chapters

2010

  1. The State of Corporate Governance Research
    A chapter in Corporate Governance, 2010 View citations (48)
    See also Working Paper (2009)
    Journal Article in Review of Financial Studies (2010)
 
Page updated 2017-10-20