1. Darby: Warren C. Cordner Professor of Money and Financial Markets, Anderson Graduate School of Management, UCLA Box 951481, Los Angeles, CA 90095. Phone 1–310–825–4180, Fax 1–310–454–2748, E‐mail
2. Liu: Assistant Professor of Finance and Economics, School of Economics and Finance, University of Hong Kong, Pokfulam Road, Hong Kong and McKinsey & Company, Inc., Asian Corporate Finance and Strategy Practice, 25/F Cheung Kong Centre, 2 Queen's Road, Central, Hong Kong. Phone 852–2859–1059, Fax 852–2548–1152, E‐mail
3. Zucker: Professor of Sociology and Policy Studies, UCLA Box 951551, Los Angeles, CA 90095. Phone 1–310–825–9155, Fax 1–310–454–2748, E‐mail