Corporate Finance.

• Position: Program and Working Group Meetings

The NBER's Program on Corporate Finance met in Cambridge on November 2, 2012. NBER Research Associate Malcolm Baker of Harvard Business School organized the meeting. These papers were discussed:

* Carola Frydman, Boston University and NBER; Eric Hilt, Wellesley College and NBER; and Lily Zhou, Federal Reserve Bank of New York, "Economic Effects of Runs on Early 'Shadow Banks': Trust Companies and the Impact of the Panic of 1907"

* Sumit Agarwal, National University of Singapore; Itzhak Ben-David, Ohio State University; and Vincent Yao, Fannie Mae, "Collateral Valuation and Borrower Financial Constraints: Evidence from the Residential Real-Estate Market"

* Kingsley Fong, University of New South Wales; Harrison Hong, Princeton University and NBER; Marcin Kacperczyk, New York University and NBER; and Jeffrey Kubik, Syracuse University, "Do Security Analysts Discipline Credit Rating Agencies?"

* Anil Kashyap, University of Chicago and NBER, and Natalia...