Programme: European Corporate Governance and the New Economy, Brussels, 13/14 April 2002

An ESF Exploratory Workshop
Organised By CEPR and ECGI in collaboration with ECARES
Brussels, 13/14 April 2002

Programme
Saturday 13 April
12:30 - 14:00	Lunch
Session 1 Corporate Governance and Financial Systems
14:00 - 15:00	Objectivity, Proximity and Adaptability in Corporate Governance Arnoud Boot (Universiteit van Amsterdam and CEPR) Jonathan Macey (Cornell University) Presenter: Erik Berglof (SITE, Stockholm School of Economics and CEPR)
15:00 - 16:00	The Future of Stock Markets: Evolution and Prospects Stijn Claessens (Universiteit van Amsterdam and CEPR) Daniela Klingebiel (The World Bank) Sergio Schmukler (The World Bank) Presenter: Joseph Zechner (Universität Wien and CEPR)
16:00 - 16:30	Tea and Coffee
Session 2 Capital Structure
16:30 - 17:30	The Good Cop and the Bad Cop: Complementarities between Debt an Equity in Disciplining Management Alexander Guembel (University of Oxford) Lucy White (University of Oxford and CEPR) Presenter: Sudipto Bhattacharya (London School of Economics and CEPR)
17:30 - 18:30	Capital Structure and Transparency Andres Almazan (University of Texas) Javier Suarez (Centre for Monetary and Financial Studies and CEPR) Sheridan Titman (University of Texas) Presenter: Giovanna Nicodano (Università di Torino)
18:30	Conclusion
19:30	Dinner
Sunday 14 April
Session 3 Innovation
08:30 - 09:30	The Ownership and Financing of Innovation in R&D Races Paolo Fulghieri (INSEAD and CEPR) Merih Sevilir (INSEAD) Presenter: Ulrich Hege (HEC School of Management and CEPR)
09:30 - 10:30	Entrepreneurs and New Ideas Enrico Perotti (Universiteit van Amsterdam and CEPR) Bruno Biais (Université de Toulouse and CEPR) Presenter: Guido Freibel (SITE, Stockholm School of Economics and CEPR)
10.30 - 11:00	Tea and Coffee
Session 4 Shareholder Agreements and Venture Capital Contracts
11.00 - 12:00	An Analysis of Shareholder Agreements Giles Chemla (University of British Columbia and CEPR) Michel Habib (London Business School) Alexander Ljungqvist (New York University and CEPR) Presenter: Zsuzanna Fluck (Michigan State University)
12:00 - 13:00	Financial Contracting, Legal Institutions and Learning: A Study of International Venture Capital Contracts Steven Kaplan (University of Chicago) Per Stromberg (University of Chicago and CEPR) Frederic Martel (UBS, Asset Management AG) Presenter: Lucy White (University of Oxford and CEPR)
13:00	Conclusion followed by lunch
Organisers	Marco Becht (ECARES, Université Libre de Bruxelles and ECGI) Colin Mayer (University of Oxford and CEPR)