167) Examples of sweat equity often involve sole proprietors such as grocers or dry cleaners, but as David Weisbach
points out, Bill Gates is an owner of sweat equity: his fortune is attributable to services he performed for Microsoft, but most of his earnings will be taxed as capital gains.
received the Fama-DFA prize for the best paper in capital markets and asset pricing published in the Journal of Financial Economics, for his paper on "Limited Partner Performance and the Maturing of the Private Equity Industry," with Berk Sensoy and Yingdi Wang.
Indeed, several studies have shown that a positive drift in returns often does occur following share repurchase announcements (Lakonishok & Vermaelen, 1990; Stephens & Weisbach
, 1998; & Vermaelen, 1981).
This shift in value should be a function of the amount of leverage in a firm's capital (Parrino, Poteshman, and Weisbach
Esto ultimo resulta ser mas eficiente, cuando de alcanzar los intereses del Principal se trata (Baysenger y Butler, 1985; Baysinger y Hoskisson, 1990; Rosenstein y Wyatt, 1990; Hermalin y Weisbach
, 1991; Beasley, 1996; Hermalin y Weisbach
, 1998; Rosenstein y Wyatt, 1997; Bahgat y Black, 2000; Vazquez, 2000; Bahgat y Black, 2001; Fonseca, 2005; Recorder, 2006).
Studies find a significant role for cash policy in firm performance (Almeida, Campello, and Weisbach
, 2004), takeover defense (Pinkowitz, 2000), and market share expansion (Fresard, 2009).
work of scholars such as Cass Sunstein, Eric Posner, and David Weisbach
Para Hermalin e Weisbach
(2003), o Conselho de Administracao e uma instituicao que ajuda na resolucao dos conflitos de agencia inerentes a gestao de qualquer empresa.
Ecuacion para diseno de una cuneta triangular asimetrica, a partir de la ecuacion de Darcy & Weisbach
, en conjunto con la de Colebrook & White
CEO dismissal is positively correlated with age (Murphy and Zimmerman, 1993; Wiersama and Bantel, 1992; Weisbach
The decision to go public involves several factors, among which we highlight the following:raising funds to adjust the company's capital structure (Kim & Weisbach
, 2005), raising funds to develop new projects and make investments in research and development (Kim & Weisbach
, 2008), raising funds for the acquisition of other companies (Celikyurt etal.
argument for status quo treatment advocated by David Weisbach