Corporate Finance.

• Position: Program and Working Group Meetings

Members of the NBER's Corporate Finance Program met April 8 in Chicago and online. Research Associates Giorgia Piacentino of Columbia University and Michael R. Roberts of the University of Pennsylvania organized the meeting. These researchers' papers were presented and discussed:

* Samuel Antill, Harvard Business School, "Are Bankruptcy Professional Fees Excessively High?"

* Gordon M. Phillips, Dartmouth College and NBER, and Gerard Hoberg, University of Southern California, "Scope, Scale, and Competition: The 21st Century Firm"

* Guangqian Pan, University of Sydney; Zheyao Pan, Macquarie University; and Kairong Xiao, Columbia University, "The Shadow Cost of Collateral"

* Kristoph Kleiner and Niklas Huether, Indiana University, "Are Judges Randomly Assigned to Chapter 11 Bankruptcies? Not According to Hedge Funds"

* Raghuram Rajan and Luigi Zingales, University of Chicago and NBER, "What Purpose Do Corporations Purport? Evidence from Letters to...