Corporate Finance.

• Position: Program and Working Group Meetings

Members of the NBER's Corporate Finance Program met at Stanford on November 10. Faculty Research Fellow Shai Bernstein of Stanford University and Research Associates Peter M. DeMarzo of Stanford University and Bruce I. Carlin of University oi California, Los Angeles organized the meeting. These researchers' papers were presented and discussed:

* Di Li, Georgia State University; Lucian A. Taylor, University of Pennsylvania; and Wenyu Wang, Indiana University, "Inefficiencies and Externalities from Opportunistic Acquirers"

* Victoria Vanasco, Stanford University; Brendan Daley, Duke University; and Brett Green, University of California, Berkeley, "Securitization, Ratings, and Credit Supply"

* Gabriel Chodorow-Reich, Harvard University and NBER, and Antonio Falato, Federal Reserve Board, "The Loan Covenant Channel: How Bank Health Transmits to the Real Economy" (NBER Working Paper No. 23879)

* Roni Michaely, Cornell Tech; Stefano Rossi, Bocconi University; and Michael Weber, University of Chicago and NBER, "The Information Content of Dividends: Safer Profits, not Higher Profits"

*...