NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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Corporate Governance, Debt, and Investment Policy during the Great Depression

John R. Graham, Sonali Hazarika, Krishnamoorthy Narasimhan

NBER Working Paper No. 17387
Issued in September 2011

---- Acknowledgments ----

We thank two anonymous referees, Murillo Campello, Campbell Harvey, David Hsieh, Pete Kyle, Ken Lehn, Anil Shivdasani, and seminar participants at Duke, Indiana, INSEAD, Rice, Virginia, and the Conference on Corporate Finance at Washington University in St. Louis for useful suggestions. James Kibler and Michael Albert provided excellent research assistance. Financial support from the Hartman Center is acknowledged. Hazarika gratefully acknowledges financial support from PSC-CUNY and the Baruch College Fund. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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