NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

NBER Working Papers by Michael Weisbach

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Working Papers

April 2014Understanding Corporate Governance Through Learning Models of Managerial Competence
with Benjamin E. Hermalin: w20028
October 2013Corporate Liquidity Management: A Conceptual Framework and Survey
with Heitor Almeida, Murillo Campello, Igor Cunha: w19502
August 2013CEO Investment Cycles
with Yihui Pan, Tracy Yue Wang: w19330
March 2013Indirect Incentives of Hedge Fund Managers
with Jongha Lim, Berk A. Sensoy: w18903
Learning about CEO Ability and Stock Return Volatility
with Yihui Pan, Tracy Yue Wang: w18882
February 2013Do Acquisitions Relieve Target Firms’ Financial Constraints?
with Isil Erel, Yeejin Jang: w18840
Limited Partner Performance and the Maturing of the Private Equity Industry
with Berk A. Sensoy, Yingdi Wang: w18793

Published: Sensoy, Berk A. & Wang, Yingdi & Weisbach, Michael S., 2014. "Limited partner performance and the maturing of the private equity industry," Journal of Financial Economics, Elsevier, vol. 112(3), pages 320-343.

September 2012Syndicated Loan Spreads and the Composition of the Syndicate
with Jongha Lim, Bernadette A. Minton: w18356

Published: Lim, Jongha & Minton, Bernadette A. & Weisbach, Michael S., 2014. "Syndicated loan spreads and the composition of the syndicate," Journal of Financial Economics, Elsevier, vol. 111(1), pages 45-69.

February 2012Equity-Holding Institutional Lenders: Do they Receive Better Terms?
with Jongha Lim, Bernadette A. Minton: w17856

Published: “Syndicated Loan Spreads and the Composition of the Syndicate” (with Jongha Lim and Bernadette A. Minton), Journal of Financial Economics, Vol. 111 (January 2014), pp. 45-69.

Financing-Motivated Acquisitions
with Isil Erel, Yeejin Jang: w17867

“Do Acquisitions Relieve Target Firms’ Financial Constraints?” (with Isil Erel and Yeejin Jang), The Journal of Finance, forthcoming.

October 2011What do Boards Really Do? Evidence from Minutes of Board Meetings
with Miriam Schwartz-Ziv: w17509

Published: “What do Boards Really do? Evidence from Minutes of Board Meetings” (with Miriam Schwartz- Ziv), Journal of Financial Economics, Vol. 108 (May 2013), pp. 349-366.

April 2011Macroeconomic Conditions and Capital Raising
with Isil Erel, Brandon Julio, Woojin Kim: w16941

Published: Isil Erel & Brandon Julio & Woojin Kim & Michael S. Weisbach, 2012. "Macroeconomic Conditions and Capital Raising," Review of Financial Studies, Society for Financial Studies, vol. 25(2), pages 341-376.

March 2011Did Securitization Affect the Cost of Corporate Debt?
with Taylor D. Nadauld: w16849

Published: Nadauld, Taylor D. & Weisbach, Michael S., 2012. "Did securitization affect the cost of corporate debt?," Journal of Financial Economics, Elsevier, vol. 105(2), pages 332-352.

September 2010Pay for Performance from Future Fund Flows: The Case of Private Equity
with Ji-Woong Chung, Berk A. Sensoy, Lea H. Stern: w16369

Published: Ji-Woong Chung & Berk A. Sensoy & Léa Stern & Michael S. Weisbach, 2012. "Pay for Performance from Future Fund Flows: The Case of Private Equity," Review of Financial Studies, Society for Financial Studies, vol. 25(11), pages 3259-3304.

April 2010Borrow Cheap, Buy High? The Determinants of Leverage and Pricing in Buyouts
with Ulf Axelson, Tim Jenkinson, Per Strömberg: w15952

Published: Ulf Axelson & Tim Jenkinson & Per Strömberg & Michael S. Weisbach, 2013. "Borrow Cheap, Buy High? The Determinants of Leverage and Pricing in Buyouts," Journal of Finance, American Finance Association, vol. 68(6), pages 2223-2267, December.

November 2009The State of Corporate Governance Research
with Lucian A. Bebchuk: w15537

Published:

  • Lucian A. Bebchuk & Michael S. Weisbach, 2010. "The State of Corporate Governance Research," Review of Financial Studies, Society for Financial Studies, vol. 23(3), pages 939-961, March. ,
  • The State of Corporate Governance Research, Lucian A. Bebchuk, Michael S. Weisbach. in Corporate Governance, Weisbach. 2010

July 2009World Markets for Mergers and Acquisitions
with Isil Erel, Rose C. Liao: w15132

Published: “Determinants of Cross-Border Mergers and Acquisitions,” (with Isil Erel and Rose C. Liao), The Journal of Finance, Vol. 67 (June 2012) pp. 1045-1082.

May 2009Market Conditions and the Structure of Securities
with Isil Erel, Brandon Julio, Woojin Kim: w14952
November 2008The Role of Boards of Directors in Corporate Governance: A Conceptual Framework and Survey
with Renée Adams, Benjamin E. Hermalin: w14486

Published: Renee B. Adams & Benjamin E. Hermalin & Michael S. Weisbach, 2010. "The Role of Boards of Directors in Corporate Governance: A Conceptual Framework and Survey," Journal of Economic Literature, American Economic Association, vol. 48(1), pages 58-107, March.

December 2007What Determines the Structure of Corporate Debt Issues?
with Brandon Julio, Woojin Kim: w13706
January 2007Transparency and Corporate Governance
with Benjamin E. Hermalin: w12875
Why are Buyouts Levered: The Financial Structure of Private Equity Funds
with Ulf Axelson, Per Stromberg: w12826

Published: Ulf Axelson & Per Strömberg & Michael S. Weisbach, 2009. "Why Are Buyouts Levered? The Financial Structure of Private Equity Funds," Journal of Finance, American Finance Association, vol. 64(4), pages 1549-1582, 08.

December 2006Optimal Executive Compensation vs. Managerial Power: A Review of Lucian Bebchuk and Jesse Fried's "Pay without Performance: The Unfulfilled Promise of Executive Compensation"
w12798

Published: Michael S. Weisbach, 2007. "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, American Economic Association, vol. 45(2), pages 419-428, June.

Corporate Financial and Investment Policies when Future Financing is not Frictionless
with Heitor Almeida, Murillo Campello: w12773

Published: Almeida, Heitor, Murillo Campello, and Michael S. Weisbach. "Corporate Financial and Investment Policies when Future Financing is not Frictionless." Journal of Corporate Finance 17, 3 (June 2011): 675-693.

February 2006A Framework for Assessing Corporate Governance Reform
with Benjamin E. Hermalin: w12050
November 2005Motivations for Public Equity Offers: An International Perspective
with Woojin Kim, Michael S. Weisbach: w11797

Published: Kim, Woojin & Weisbach, Michael S., 2008. "Motivations for public equity offers: An international perspective," Journal of Financial Economics, Elsevier, vol. 87(2), pages 281-307, February.

March 2005Do Firms Go Public to Raise Capital?
with Woojin Kim: w11197
January 2004World Markets for Raising New Capital
with Brian J. Henderson, Narasimhan Jegadeesh: w10225

Published: Henderson, Brian J. & Jegadeesh, Narasimhan & Weisbach, Michael S., 2006. "World markets for raising new capital," Journal of Financial Economics, Elsevier, vol. 82(1), pages 63-101, October.

Private Benefits and Cross-Listings in the United States
with Evangelos Benos: w10224

Published: Benos, Evangelos and Michael S. Weisbach. "Private Benefits And Cross-Listings In The United States," Emerging Markets Review, 2004, v5(2,Jun), 217-240.

November 2002Horses and Rabbits? Optimal Dynamic Capital Structure from Shareholder and Manager Perspectives
with Nengjiu Ju, Robert Parrino, Allen M. Poteshman: w9327

Published: Ju, Nengjiu, Robert Parrino, and Allen Poteshman and Michael Steen Weisbach. “Horses and Rabbits? Optimal Dynamic Capital Structure from Shareholders’ and Managers’ Perspectives." Journal of Financial and Quantitative Analysis 40 (June 2005): 259-281.

October 2002Corporate Demand for Liquidity
with Heitor Almeida, Murillo Campello: w9253
January 2002Measuring Investment Distortions when Risk-Averse Managers Decide Whether to Undertake Risky Projects
with Robert Parrino, Allen M. Poteshman: w8763

Published: Robert Parrino & Allen M. Poteshman & Michael S. Weisbach, 2005. "Measuring Investment Distortions when Risk-Averse Managers Decide Whether to Undertake Risky Projects," Financial Management, Financial Management Association, vol. 34(1), Spring.

September 2001The Economics of Has-Beens
with Glenn MacDonald: w8464

Published: MacDonald, Glenn and Michael S. Weisbach. "The Economics Of Has-Beens," Journal of Political Economy, 2004, v112(2,Part2), S289-S310.

April 2001Hospital Governance, Performance Objectives, and Organizational Form
with Leslie Eldenburg, Benjamin E. Hermalin, Marta Wosinska: w8201

Published: Eldenburg, Leslie, Benjamin E. Hermalin, Michael S. Weisbach, and Marta Wosinska. “Hospital Governance, Performance Objectives, and Organizational Form." Journal of Corporate Finance 10 (September 2004): 527-548.

March 2001Boards of Directors as an Endogenously Determined Institution: A Survey of the Economic Literature
with Benjamin E. Hermalin: w8161

Published: Hermalin, Benjamin E. and Michael S. Weisbach. "Boards Of Directors As An Endogenously Determined Institution: A Survey Of The Economic Literature," FRB New York - Economic Policy Review, 2003, v9(1,Apr), 7-26.

Protection of Minority Shareholder Interests, Cross-listings in the United States, and Subsequent Equity Offerings
with William A. Reese, Jr.: w8164

Published: Reese, William Jr. & Weisbach, Michael S., 2002. "Protection of minority shareholder interests, cross-listings in the United States, and subsequent equity offerings," Journal of Financial Economics, Elsevier, vol. 66(1), pages 65-104, October.

October 1990The Success of Acquisitions: Evidence From Disvestitures
with Steven Kaplan: w3484

Published: The Journal of Finance, Vol. XLVII, No. 1, pp. 107-138, (March 1992).

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