COUPLED CHANNEL STUDY OF K+Λ PHOTOPRODUCTION
A coupled channel model with $\gamma N$, $KY$ and $\pi N$ channels has been used to analyze the recent data of $\gamma p \to K^+ \Lambda$. The non-resonant interactions within the subspace $KY \oplus \pi N$ are derived from effective Lagrangians using a unitary transformation method. The direct photoproduction reaction is obtained from a chiral constituent quark model with $SU(6)\otimes O(3)$ breaking. Missing baryon resonances issues are briefly discussed.