NATIONAL BUREAU OF ECONOMIC RESEARCH, INC.

SUMMER INSTITUTE 2000

CORPORATE FINANCE

Steven Kaplan and Luigi Zingales, Organizers

Royal Sonesta Hotel

5 Cambridge Parkway

Cambridge, Massachusetts

August 7-8, 2000

PRELIMINARY PROGRAM

MONDAY, AUGUST 7:

8:30 AM Coffee and Doughnuts

9:00 AM DAVID GOLDREICH and FRANCESCA CORNELLI,

London Business School

Bookbuilding and Strategic Allocation

Discussant: IVO WELCH, UC, Los Angeles

10:00 AM JOSHUA LERNER and PAUL GOMPERS,

Harvard University and NBER

The Really Long Run Performance of IPOs- the

Pre-NASDAQ Evidence

Discussant: KENNETH FRENCH, MIT and NBER

11:00 AM Break

11:30 AM KEITH BROWN, Univeristy of Texas

HENRI SERVAES, London Business School

Roll-ups: Performance and Incentives for

Industry-Consolidating IPOs

(Joint with AMY DITTMAR, University of Indiana and

KENNETH WILES, Lloyd & Co.)

Discussant: GREGOR ANDRADE, Harvard University

12:30 PM Lunch

2:00 PM THOMAS HELLMAN and MANJU PURI, Stanford University

Venture Capital and the Professionalization of Start-up Firms:

Empirical Evidence

Discussant: PER STROMBERG, University of Chicago

3:20 PM BRIAN HALL, Harvard University and NBER

KEVIN MURPHY, University of Southern California

Stock Options for Undiversified Executives*

Discussant: JEREMY STEIN, MIT and NBER

4:20 PM Adjourn

6:00 PM Group Dinner

Harvard Faculty Club

20 Quincy St.

Cambridge, MA

TUESDAY, AUGUST 8:

8:30 AM Coffee and Doughnuts

9:00 AM RAGHURAM RAJAN, University of Chicago and NBER

MITCHELL PETERSEN, Northwestern University

Does Distance Still Matter? The Information Revolution

In Small Business Lending?

Discussant: PHILIP STRAHAN, Federal Reserve Bank of New York

10:00 AM RAYMOND FISMAN and MAYANK RATURI, Columbia University

Product Market Competition and Credit Provision

Discussant: NICOLA CETORELLI,

Federal Reserve Bank of Chicago

11:00 AM Break

11:30 AM EDITH HOTCHKISS, Boston College

DEON STRICKLAND, Ohio State University

Does Shareholder Composition Affect Stock Returns?

Discussant: KENT DANIEL, Northwester University and NBER

12:30 PM Lunch

2:00 PM JOHN GRAHAM, Duke University

Does Corporate Diversification Destroy Value?

(Joint with LEMMON and WOLF)

Discussant: OWEN LAMONT, University of Chicago and NBER

2:30 PM Break

3:20 PM ANDREI SHLEIFER, Harvard University and NBER

DANIEL WOLFENZOHN, University of Michigan

To Be Announced

Discussant: DAVID SCHARFSTEIN, MIT and NBER

4:20 PM Adjourn

06/14/00