UNC Tax Center Research Scholar Jeff Hoopes shares his take on Sen. Elizabeth Warren's recently proposed tax on financial accounting income.
We hypothesize that after a relaxation of short selling constraints, an escalation in short selling activity will heighten incentives for short sellers to accelerate price discovery by revealing their negative information. Consistent with this conjecture, we find that the overall sentiment of media coverage tilts significantly more negative for pilot relative to control firms following exogenous relief of short sale constraints.
Environmental, social and governance (ESG) issues continue to grow in importance, and companies are facing unprecedented internal and external criticism and pressures to address them.
Perez-Truglia, a Kenan Institute Distinguished Fellow, will summarize the latest research, including his own, to provide a better understanding of the effectiveness of pay transparency laws.
On Monday, Sept. 24, a standing room-only crowd gathered at the Kenan Center in Chapel Hill to participate in a fireside chat with Krishnamurthy Subramanian, the 17th chief economic advisor to the government of India. The program was led by UNC Kenan-Flagler Business School professors Anusha Chari and Christian Lundblad.
Electricity end-users have been increasingly generating their own electricity via rooftop solar panels. We study the impact of such distributed renewable energy (DRE) on utility profits and social welfare under net metering, which is a widespread policy in the United States. Utilities have been lobbying against net-metered distributed solar based on the common belief that it harms utility profits. We find that when wholesale market dynamics are considered, net-metered DRE may be a positive for utilities.
Román Orús, Ikerbasque Research Professor at the Donostia International Physics Center in San Sebastián, Spain, will present the findings from his research on determining the optimal trading trajectory for an investment portfolio of assets over a period of time. Dynamic portfolio optimization is well known to be NP-Hard and is central to quantitative finance.
In this paper, we propose a research agenda for psychologists in general, and scholars of culture and negotiations in particular, to address the key challenges of dealing with an increasingly globalized world from a psychological perspective. Building on an understanding of globalization in terms of cultural and subjective matters, we propose three research domains in which psychology scholars can contribute to a further understanding of our global society: (a) the effects of global contact on cognition and behavior; (b) hybridization and human agency; and (c) new forms of cooperation.
Since 2008, the Alternative Investments Conference has served as a forum for private equity, hedge fund, venture capital and other alternative asset professionals to network, share ideas and stay abreast of industry trends. This conference serves as a forum for investment managers, institutional investors and academics to network, share ideas and stay abreast of the latest industry trends.
We demonstrate the need to view in a dynamic context any decision based on limited information. We focus on the use of product costs in selecting the product portfolio. We show how ex post data regarding the actual costs from implementing the decision leads to updating of product cost estimates and potentially trigger a revision of the initial decision. We model this updating process as a discrete dynamical system (DDS). We define a decision as informationally consistent if it is a fixed-point solution to the DDS.
Beginning with Anderson, Banker, and Janakiraman (2003), a rapidly growing literature attributes the short-run asymmetric cost response to activity changes (i.e., sticky costs) as resulting from short-run managerial choices. In this paper, we are agnostic on the theory of sticky costs. Rather, we focus on empirical tests of cost stickiness.
This paper presents an easy-to-use measure of patent scope that is grounded both in patent law and in the practices of patent attorneys. We validate our measure by showing both that patent attorneys’ subjective assessments of scope agree with our estimates, and that the behavior of patenters is consistent with it.
The behavioral response to public disclosure of income tax returns figures prominently in policy debates about its advisability. Although supporters stress that disclosure encourages tax compliance, policy debates proceed in the absence of empirical evidence about this, and any other, claimed behavioral impact.
This study asks whether investors learn differently from gains versus losses. I find experimental evidence that indicates that being in the negative domain leads individuals to form overly pessimistic beliefs about available investment options.
Join Strategic Advisor to the CEO of Ripple and former Co-President of Morgan Stanley Zoe Cruz as she discusses the impact of adding cryptocurrencies to a traditional portfolio.
While call centers have recently invested in callback technology, the impact of this innovation on callers’ behavior and call center performance has been less clearly understood. Using call center data from a US commercial bank, we perform an empirical study of callers’ decisionmaking process in the presence of a callback option.
Queues are an inherent outcome of many service systems. Because waiting in queue is typically perceived as negative, customers may choose either to not enter a queue if the length is too long (balk) or exit a queue prior to receiving service (renege).
Hospital emergency departments (EDs) provide around-the-clock medical care and as such are generally modeled as nonterminating queues. However, from the care provider’s point of view, ED care is not a never-ending process, but rather occurs in discrete work shifts and may require passing unfinished work to the next care provider at the end of the shift.
Across the globe, every workday people commute an average of 38 minutes each way, yet surprisingly little research has examined the implications of this daily routine for work-related outcomes. Integrating theories of boundary work, self-control, and work-family conflict, we propose that the commute to work serves as a liminal role transition between home and work roles, prompting employees to engage in boundary management strategies.
The COVID-19 pandemic and the nationwide civil unrest spawned by the recent spate of senseless killings of unarmed African Americans have illuminated what executive development professionals have been telling private and public sector leaders and managers for quite some time. We are living in an era of increasing volatility, uncertainty, complexity and ambiguity—a VUCA World. “Certain-uncertainty” is the new normal in today’s society and economy.