With homebuying season here, many Americans are eyeing the housing market, looking for signs of improvement. Will unfavorable conditions abate and the number of affordable homes begin to rise?
The EHR revolution has significantly transformed healthcare work and the flow of information, but it hasn't come without costs, measured in increased administrative burden and the accompanying stress for healthcare professionals. Can generative AI help?
More than four years since the start of the COVID-19 pandemic, we examine the essential elements that build small-business resilience, emphasizing the importance of personal fortitude and intangible resources in ensuring business survival.
To attract skilled talent in an evolving economic landscape, public and private sector leaders must understand the factors – economic, social and political conditions – that push and pull people and drive relocation.
Times are tough for universities. Leaders on campus are facing more pressure than ever – strategic, operational, and financial. How do we manage our administrative functions efficiently to free up resources for our core dual mission of teaching and research?
On Thursday, December 14, leaders in public finance, private equity, venture capital, hedge funds and investment management convened at the Kenan Center in Chapel Hill to discuss 2018 investment challenges and opportunities. The 2018 Investment Outlook forum was sponsored by the Kenan Institute of Private Enterprise.
On September 30, 2018, California became the first U.S. state to set quotas for women directors on corporate boards. The passage of this law resulted in a significant decline in shareholder value for firms headquartered in California. The decline in shareholder value is directly related to the number of female directors that firms are required to add under these quotas.
Real estate private equity (REPE) funds are often differentiated by risk class: Core, Value-Added, or Opportunistic. Fund class is used by investors and managers to allocate funds and to describe investment policies. In this paper, we use REPE fund cash flow data from Burgiss that allow us to calculate a variety of performance metrics.
We examine the human capital of IPO-filing firms and how going public affects their labor force. IPO-filing firms have high average wages and limited industrial diversification. Moreover, we document that a successful IPO increases departures of high-skilled employees to startups and diversification though employment growth in non-core industries.
This article integrates relevant literature to develop a conceptual model on the potential avenues to achieve service excellence at low unit costs, which we term cost-effective service excellence (CESE). To gain a deeper understanding of these strategies, their applicability and interrelatedness, we analyze how 10 organizations have achieved CESE. Our findings show that CESE can be achieved through three core strategies.
A roadmap for inclusive and equitable development is proposed which has four core elements that will lead to greater shared prosperity in Durham: a sustainability scorecard; a collective ambition community mobilization strategy; a more inclusive entrepreneurial/business ecosystem; and an equitable community economic development innovations fund. These activities aim to support historically underutilized businesses and invest in workforce development partnerships that support working poor civil servants at-risk of being priced out of and displaced from Durham’s housing market. Utilizing these tools and leveraging the four corners of intellectual assets that exist at Duke University, University of North Carolina at Chapel Hill, North Carolina State University, and North Carolina Central University should strategically position Durham to be one of the most inclusive, equitable, and sustainable cities in America.
A core idea in competitive strategy is that a firm’s ability to capture value depends on the creation of value: maximizing the gap between willingness to pay and cost. This value can depend on or be enhanced through complementarity, where the willingness to pay for an offering is increased in the presence of another offering. Substitutability is assumed to have the opposite effect.
Real estate private equity (REPE) funds are often differentiated by risk class: core, value-added, or opportunistic. Fund class is used by investors and managers to allocate funds and to describe investment policies. In this paper, we use REPE fund cash flow data from Burgiss that allow us to calculate a variety of performance metrics. For a subset of the data, we also observe characteristics of underlying fund holdings. Despite evidence that Value-Added and Opportunistic funds differ in investment composition, we show that class does not do a good job of predicting differences in performance. Unsurprisingly, greater investment in development (as assessed ex post), predicts poor performance for funds raised just before the Great Recession.
Reviewing 25 years of research, we observed that the science of feedback at work is not yet a story of coherent and cumulative progress. Feedback is often generically defined, and assumptions substantially diverge. Consequently, insights often appear disconnected from the way feedback is practiced and experienced in organizations. We organize the literature by making three core assumptions explicit and identifying six distinct substreams of feedback research.
The increasingly open flow of goods and services has fundamentally altered the world economy and global power balances. It is also reshaping the American political system and our economic geography, providing clear and lasting benefits for some and negative impacts for others. This conference convenes thought leaders from the business community, government and academia to explore the core questions of the impact of international trade on society, the changing nature of work and economic productivity.
Business incubators are taking on a greater role in the development of entrepreneurial ecosystems, but debate continues over whether, how and in what situations they work. In this Kenan Insight, we explore what makes incubators successful and how communities can determine if one is right for them.
On January 18-19, 2018, the Frank H. Kenan Institute of Private Enterprise and its affiliated Center for Entrepreneurial Studies will convene a highly curated group of 100 thought leaders to discuss leading-edge research on private business ventures and explore ways to sustain and advance entrepreneurship.
On January 18 and 19, 2018, the Frank H. Kenan Institute of Private Enterprise (Kenan Institute) hosted its Frontiers of Entrepreneurship Research Conference at The Breakers Palm Beach Resort. The conference brought together more than 100 academic research scholars, policy experts and private sector professionals to discuss and debate the most challenging current issues in the field of entrepreneurship in order to set the agenda for future research and policy.
The UNC Energy Center and the Kenan Institute of Private Enterprise hosted a conference on "Meeting the Renewables Intermittency Challenge" on April 13-14, 2018. The conference, and resulting white paper, examined the true cost of integrating renewable energy generation into the electric grid and explore ways to address the challenges posed by wind and solar energy intermittency.
We examine the effect of MiFID II, which mandated the unbundling and separate pricing of analyst research in Europe beginning in 2018. We find that the requirements of MiFID II were associated with a reduction in analyst following for European firms relative to US firms, with decreases in coverage greatest for firms that were larger, older and less volatile, and had greater coverage and more accurate consensus forecasts. Remaining analysts follow fewer firms and issue fewer forecasts, consistent with increased focus, and appear to increase their efforts on the firms they continue to cover.