NATIONAL BUREAU OF ECONOMIC RESEARCH, INC.

8:30 AM Continental Breakfast

9:00 AM ANDREI SHLEIFER, Harvard University and NBER

ROBERT VISHNY, University of Chicago and NBER

Stock Market Driven Acquisitions

Discussant: DAVID SCHARFSTEIN, MIT and NBER

10:00 AM AMIT GOYAL and PEDRO SANTA-CLARA, UC, Los Angeles

Idiosyncratic Risk Matters!

Discussant: JOHN CAMPBELL, Harvard University and NBER

11:00 AM Break

11:15 AM HARRISON HONG, Stanford University

JEFFREY KUBIK, Syracuse University
Analyzing the Analysts: Career Concerns and Biased Earnings Forecasts

Discussant: KENT WOMACK, Dartmouth College

12:15 PM Lunch

Royal Sonesta Hotel

Charles B Room

Over Please!

Behavioral Finance Program, Page 2, Continued:

1:15 PM BRAD M. BARBER, UC Davis

TERRANCE ODEAN, UC, Berkeley

All that Glitters: The Effect of Attention and News on the Buying Behavior of Individual and Institutional Investors

Discussant: SENDHIL MULLAINATHAN, MIT and NBER

2:15 PM CHARLES M. JONES, Columbia University and NBER

OWEN LAMONT, University of Chicago and NBER

Short Sale Constraints and Stock Returns

Discussant: KENT DANIEL, Northwestern University and NBER

3:15 PM Break

3:30 PM ARTYOM DURNEV, University of Michigan

RANDALL MORCK, University of Alberta and NBER

BERNARD YEUNG, New York University

Value Enhancing Capital Budgeting and Firm-Specific Stock Returns Variation

Discussant: JEREMY STEIN, Harvard University and NBER

10/26/01