NATIONAL BUREAU OF ECONOMIC RESEARCH, INC.

SUMMER INSTITUTE 2007

Corporate Governance Workshop

Co-sponsored with the Review of Financial Studies

Michael Weisbach and Lucian Bebchuk, Organizers

July 30, 2007

Royal Sonesta Hotel

40 Edwin H. Land Blvd.

Cambridge, Massachusetts

PROGRAM

SUNDAY, JULY 29:
6:30 pm	Group Dinner – Legal Sea Foods, Kendall Sq., Cambridge
MONDAY, JULY 30:
8:15 am	Coffee and pastries
SHAREHOLDERS
8:45 am	MARCO BECHT, Free University of Brussels
	JULIAN FRANKS, London Business School
	COLIN MAYER, University of Oxford
	STEFANO ROSSI, Stockholm School of Economics
	Returns to Shareholder Activism: Evidence from a Clinical Study of the Herms U.K. Focus Fund
	CHRISTIAN LEUZ, University of Chicago
	KARL LINS, Utah University
	FRANCIS E. WARNOCK, University of Virginia and NBER
	Do Foreigners Invest Less in Poorly Governed Firms?
10:15 am	Break
EXECUTIVES, DIRECTORS, AND CONTROLLERS
10:35 am	STEVEN KAPLAN and JOSHUA RAUH, University of Chicago and NBER
	Wall Street and Main Street: What Contributes to the Rise in the Highest Incomes?
	ENRICHETTA RAVINA, New York University
	PAOLA SAPIENZA, Northwestern University and NBER
	What Do Independent Directors Know? Evidence from Their Trading
	PAUL GOMPERS, Harvard University and NBER
	JOY ISHII, Stanford University
	ANDREW METRICK, University of Pennsylvania and NBER
	Extreme Governance: An Analysis of Dual-Class Firms in the United States
12:50 pm	Lunch
GOVERNANCE PROVISIONS AROUND THE WORLD
2:00 pm	REENA AGGARWAL, Georgetown University
	ISIL EREL, Ohio State University
	RENE M. STULZ, Ohio State University and NBER
	ROHAN WILLIAMSON, Georgetown University
	Differences in Governance Practices Between U.S. and Foreign Firms: Measurements, Causes, and Consequences
	VALENTINA BRUNO, The World Bank
	STIJN CLAESSENS, University of Amsterdam
	Corporate Governance and Regulation: Can There Be Too Much of a Good Thing?
3:30 pm	Break
CORPORATE GOVERNANCE AND THE CORPORATE ENVIRONMENT
3:50 pm	FRANKLIN ALLEN, University of Pennsylvania
	ELENA CARLETTI, Center for Financial Studies
	ROBERT MARQUEZ, Arizona State University
	Stakeholder Capitalism, Corporate Governance and Firm Value
	LUCIAN BEBCHUK, Harvard University and NBER
	ZVIKA NEEMAN, Tel-Aviv University
	Investor Protection and Interest Group Politics
5:20 pm	Adjourn
6/11/07