Discussant: JEFFREY WURGLER, New York University and NBER

10:00 AM Break

10:30 AM MICHAEL C. JENSEN, Harvard University and NBER

Agency Costs of Overvalued Equity

Discussant: BENGT HOLMSTROM, MIT AND NBER

Over, Please!

Corporate Finance Program, Page 2:

11:15 AM PHILIPPE AGHION and JEREMY STEIN, Harvard University and NBER

Growth vs. Margins: Business-Cycle Implications of Giving the Stock Market

What it Wants

Discussant: ARVIND KRISHNAMURTHY, Northwestern University

12:00 PM Lunch

1:00 PM LUCIAN BEBCHUK, Harvard University and NBER

ALMA COHEN and ALLEN FERRELL, Harvard Univesity

What Matters in Corporate Governance?

Discussant: KENNETH LEHN, University of Pittsburgh

1:45 PM ULRIKE MALMENDIER, Stanford University and NBER

A. BURAK GUNER, Stanford University

GEOFFREY TATE, University of Pennsylvania

The Impact of Boards with Financial Expertise on Corporate Policies

Discussant: PHILIP STRAHAN, Boston College and NBER

2:30 PM Break

3:00 PM MATIAS BRAUN, UC, Los Angeles

CLAUDIO RADDATZ, MIT

Trade Liberalization and the Politics of Financial Development

Discussant: LUIGI ZINGALES, University of Chicago and NBER

3:45 PM ATIF MIAN, University of Chicago

ASIM IJAZ KHWAJA, Harvard University

Do Lender Favor Politically Connected Firms?

Renting-seeking in an Emerging Financial Market

Discussant: DARON ACEMOGLU, MIT and NBER

4:30 PM Adjourn

11/8/04