Innovative data sources offer new ways of studying spatial and temporal industrial and regional development. Our approach is to study the development of an entrepreneurial regional economy through a comprehensive analysis of its constituent firms and institutions over time.
This article examines what happens to firms that become affiliated with ‘dealmakers’—individuals who are unusually well connected in local social networks.
Application Programming Interface (APIs) have increasingly become crucial to digital ecosystems, facilitating interconnectivity and data exchange essential for digital transformation and open innovation in today's business landscape. In this article, we introduce a perspective on how APIs can be viewed as a means of achieving a dynamic equilibrium between centralization and decentralization for value creation in business ecosystems.
A daunting tangle of problems defines the global energy space as 2022 winds down. On the one hand, the war in the Ukraine combined with curtailed Russian oil/gas supplies into Europe has reminded many that unfriendly energy suppliers can also deliver inflation and hardship to their customers. On another side, efforts to increase oil/gas supplies both in Europe and globally, face stout resistance to anything that might further entrench hydrocarbons into national economies. Inflation is prompting monetary policies to tighten even as fiscal indiscipline continues via historically high government deficit spending. Concerns over climate change remain an article of faith among leaders of many countries. Other voices decry the folly of calls to suppress oil/gas production when greener alternatives are not ready to replace them. Electorates seem both confused and restless. The risk that they vote in leaders less insistent on decarbonizing economies is palpable.
This year Rethinc. Labs joined the Duke Quantum Center and the IBM Quantum Hub at NC State to bring their Financial Services focus to the Triangle Quantum Computing Seminar Series. We will welcome João Doriguello, from the National University of Singapore to share his least squares Monte Carolo algorithm.
The North Carolina Community College System is faced with a major dilemma: how to reduce the time to degree and increase the community colleges’ success or graduation rates, which system-wide now stands at 30% in four years. This research was designed to gain qualitative insights from a sample of recent graduates, that is, students who managed to graduate in four or fewer years, on critical success factors. From the standpoint of strategy development, we assert that building on success may be more productive than focusing on deficits in improving community college completion rates.
Edward Bernstein Distinguished Professor of Economics and Professor of Finance at UNC Kenan-Flagler Business School Eric Ghysels, head of the Kenan Institute’s Rethinc. Labs initiative, has been appointed a member of the North Carolina Blockchain Initiative by Lieutenant Governor Dan Forest. The initiative will study blockchain technology, virtual assets, smart contracts and digital tokens with the goal of developing a series of recommendations to strengthen North Carolina as a leader in technological innovation.
Knowledge of our changing demography can serve as both foundation and frame for how to achieve greater social, economic, environmental, and health equity in North Carolina. After describing how disruptive demographics are transforming the our state, this essay highlights a set of equity issues undergirding our shifting demography and concludes with a set of tools and strategies to make North Carolina a place where equity, inclusion, and belonging is the new normal.
On Wednesday, Feb. 9, North Carolina Secretary of Commerce Machelle Baker Sanders joined UNC Kenan-Flagler Business School Dean Doug Shackelford for a virtual discussion. Sanders discussed the many challenges facing rural North Carolina and the solutions that are being proposed to make the state's businesses and citizens thrive post-pandemic.
Learn about the legacy and the future of the Kenan Institute of Private Enterprise, part of UNC Kenan-Flagler Business School at the University of North Carolina at Chapel Hill, as it marks its 40th anniversary.
We examine the link between endowment investment performance and the expertise of university board members. Harnessing detailed information on 11,019 members for 579 universities, we find that expertise in alternatives and larger professional networks are associated with higher allocations to alternatives and better investment results.
We develop a multi-period theoretical model to characterize the relationship between a publication that ranks universities and prospective attendees -- high school students -- who might view the ranking and use it to help decide which university to attend.
We show that in the years following a large broad-based employee stock option (BBSO) grant, employee turnover falls at the granting firm. We find evidence consistent with a causal relation by exploiting unexpected changes in the value of unvested options. A large fraction of the reduction in turnover appears to be temporary with turnover increasing in the third year following the year of the adoption of the BBSO plan. The increase three years post-grant is equal in magnitude to the cumulative decrease in turnover over the three prior years, suggesting that long-vesting BBSO plans delay, instead of prevent, turnover.
This paper examines the relation between tax enforcement and financial reporting quality. The government, due to its tax claim on firm profits, is de facto the largest minority shareholder in almost all corporations. Therefore, the government, like other shareholders, has an interest in the accurate reporting of (taxable) income and preventing insiders from siphoning corporate funds to obtain private benefits.
Since January 2020, Coronavirus Disease 2019 (COVID-19) has infected more than 4.5 million Americans, resulting in over 150,000 deaths; reconfigured our domestic lives and the world economy; and overwhelmed the United States’ (U.S.) public health and health care delivery capabilities. As individuals, institutions, and municipalities struggled to quickly integrate public health best practices into economic activities and social priorities, the virus exposed fault lines in our nation’s health care system(s). The government’s initial response was disjointed, which led to critical delays, confusion, and, ultimately, hindered collaboration. As a result, medical institutions and providers were, and still are in some cases, unable to obtain adequate personal protective equipment (PPE), provide and administer sufficient and timely testing to identify and track the disease, and secure sufficient medical equipment to care for infected individuals.
Urban Investment Strategies Center Director Jim Johnson weighed in on the initial surge and subsequent decline in Black bookstore sales during the COVID-19 pandemic in a recent article by CNN Business.
The crash of the stablecoin TerraUSD last month prompted talk among policymakers of tighter regulations for cryptocurrency markets, a world that was built around the ideas of independence and privacy. In this week’s Kenan Insight, experts who participated in a recent webinar discuss how regulation can move crypto forward and what form new rules and infrastructure might take.
This study explores the process of organizational change by examining localized social learning in organizational subunits. Specifically, we examine participation in university technology transfer, a new organizational initiative, by tracking 1,780 faculty members, examining their backgrounds and work environments, and following their engagement with academic entrepreneurship.
Arabs represent a major cultural group, yet one that is relatively neglected in cultural psychology. We hypothesized that Arab culture is characterized by a unique form of interdependence that is self-assertive. Arab cultural identity emerged historically in regions with harsh ecological and climatic environments, in which it was necessary to protect the survival of tribal groups.
The paper introduces structured machine learning regressions for heavy-tailed dependent panel data potentially sampled at different frequencies. We focus on the sparse-group LASSO regularization. This type of regularization can take advantage of the mixed frequency time series panel data structures and improve the quality of the estimates.