1. The Assumptions and Math Behind WACC and APV Calculations
by Richard Stanton (University of California, Berkeley – Finance Group) and Mark Seasholes (Hong Kong University of Science & Technology (HKUST))

2. Measuring Baumol and Bowen Effects in Public Research Universities
by Robert Martin and R. Hill (Louisiana State University, Baton Rouge – Department of Economics)

3. Time Variation in Liquidity: The Role of Market Maker Inventories and Revenues
by Carole Comerton-Forde (Australian National University) and Terrence Hendershott (University of California, Berkeley – Haas School of Business) and Charles Jones (Columbia Business School – Finance and Economics) and Pamela Moulton (Cornell University) and Mark Seasholes (Hong Kong University of Science & Technology (HKUST))

4. Market Maker Inventories and Liquidity
by Terrence Hendershott (University of California, Berkeley – Haas School of Business) and Pamela Moulton (Cornell University) and Mark Seasholes (Hong Kong University of Science & Technology (HKUST))

5. Market Maker Inventories and Stock Prices
by Terrence Hendershott (University of California, Berkeley – Haas School of Business) and Mark Seasholes (Hong Kong University of Science & Technology (HKUST))