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Michael Weisbach
Stanley C. and Joan J. Golder Distinguished Chair in Finance

Educational Background

Ph.D. Economics, Massachusetts Institute of Technology, 1988
B.S., University of Michigan, 1983.

Positions Held

At the University of Illinois since 1999. Professor, University of Arizona, 1998-1999. Associate professor, University of Arizona, 1994-1998. Associate professor, University of Rochester, 1993-1994. Assistant professor, University of Rochester, 1987-1993.

Recent Publications

Weisbach, M. S., Ju, N., Parrino, R., & Poteshman, A. Horses and rabbits? Optimal dynamic capital structure from shareholders’ and managers’ perspectives, Journal of Financial and Quantitative Analysis, forthcoming.

Weisbach, M., & MacDonald, G. M. 2004. The economics of has-beens. Journal of Political Economy, 112: S289-S310.

Weisbach, M., Almeida, H., & Campello, M. 2004.The cash flow sensitivity of cash. The Journal of Finance, forthcoming.

Weisbach, M., & Benos, E. 2004. Private benefits and cross-Listings in the United States. Emerging Markets Review, forthcoming.

Weisbach, M., Eldenburg, L., Hermalin, B., & Wosinska, M. 2003. Hospital governance, performance objectives, and organizational form. Journal of Corporate Finance, forthcoming.

Weisbach, M., & Hermalin, B. 2003. Boards of directors as an endogenously determined institution: A survey of the economic evidence. Economic Policy Review, 9: 7-26.

Weisbach, M., & Reese, W. Jr. 2002. Protection of minority shareholder interests, cross-listings in the United States, and subsequent equity offerings. Journal of Financial Economics, 66 (October): 65-104.

Weisbach, M., Jagannathan, M., & Stephens, C. 2000. Financial flexibility and the choice between dividends and stock repurchases. Journal of Financial Economics, 57: 355-384.

Weisbach, M. 2000. Discussion of Gompers and Lerner's corporate venture capital, complementarities and success. In. R. Morck (Ed.), Concentrated ownership. Chicago, IL: University of Chicago Press.

Weisbach, M., Jagannathan, M., and Stephens, C. P. 2000. Financial flexibility and the choice between dividends and stock repurchases. Journal of Financial Economics, 57: 355-384.

Honors and Awards

Research Associate, National Bureau of Economic Research, 2000-present. Jensen Prize for Best Paper in Corporate Finance and Organizations in Journal of Financial Economics, second prize, 1999.

Academic Service

Associate editor, Financial Management, 1999-present; Journal of Corporate Finance, 2001-present; Journal of Financial Economics, 2001-present; Journal of Multinational Financial Management, 2003-present.

Teaching and Research

Teaches courses in corporate finance, economics of organizations and corporate governance and control. Research interests lie in the general area of corporate finance, with a special focus on corporate governance and control and organizational incentives. Other areas include acquisitions, divestitures, and the termination of pension funds after corporate takeovers.

Contact Information:
304F David Kinley Hall
1407 W. Gregory Drive
Urbana, IL 61801
(217) 265-0258
weisbach@uiuc.edu

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