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.
Pete Stavros of KKR & Co. founded Ownership Works, a new initiative backed by 19 private equity firms, with the objective of reducing income inequality by increasing employee share ownership. The group has prominent backers and a lofty goal of creating $20 billion in wealth in 10 years. As a researcher who has worked on employee share ownership and the benefits it can create, I was encouraged by the news. But while I broadly support employee ownership, such initiatives also can raise red flags because of the risk they impose on employees. As such, it is worthwhile to think carefully through what we know and don’t know about such programs.
In this work, we model the joint distribution of the error term of the OLS model, the instrumental variables, and the error term for the reduced-form equation of the endogenous regressor by a Gaussian copula. We show that exogeneity of instrumental variables is equivalent to the exogeneity of their standard normal transformations with the same CDF value. Then, we establish a Wald test for the exogeneity of the instrumental variables. We also show that this method can be used to test the exogeneity of a regressor.
As the pandemic forced shutdowns across the globe, U.S. government entities at the federal, state and local levels worked swiftly to secure known drivers of economic growth and job creation – including entrepreneurial ecosystems and small businesses. And while the programs implemented were widely lauded as successful, the story of who benefitted – and who did not – is more complex. This week’s Kenan Insight explores our experts’ key findings around the roles of policy and implementation in supporting equal access to opportunity.
American Growth Project Dashboard The American Growth Project is distinct from other analytical endeavors in its microeconomic focus and its broad scope. Our data come from government and academic sources...
...low-probability, high-impact events. Commentary Marketing at a Crossroads, Part II: Personalization vs. Privacy and the Rise of First-Party Data With a growing emphasis on prioritizing user privacy and data protection,...
Johnson, director of the Urban Investment Strategies Center, discusses how his research sheds light on key issues that will help determine the state's economic future.
Private equity investment in healthcare has grown over the last decade – but its role can be a hot topic. Some say PE funds innovation and streamlines costs, while others say it affects the quality of healthcare. In this week’s insight, RedSail Technologies Chief Strategy Officer Frances Nahas and Zetema Project Founder and Chair Mark Zitter to weigh in on the debate.
Can investing in polluting industries be a tool for fostering sustainability? Yes, according to research by Kenan Institute Distinguished Fellow Jacquelyn Pless, and it may be more effective than divesting.
The growth of the venture capital market should not blind one to its limitations as an engine of innovation. Kenan Institute Distinguished Fellow Josh Lerner lays out three areas of concern worthy of more research.
Some are worrying about the future of commercial real estate because of recent falls in valuations. Our expert discusses the challenges facing CRE and how to disentangle the trends that are shaking up the sector.
Marketing academics and practitioners alike remain unconvinced about the chief marketing officer's (CMO's) performance implications. Whereas some studies propose that firms benefit financially from having a CMO in the C-suite, other studies conclude that the CMO has little or no effect on firm performance.
Nonwage benefits have become more important to employers and employees alike. A new look shows where you work plays a far greater role in the level of benefits you receive than it does your paycheck.
Theory building from multiple cases has generated some of the most cited and intriguing research over the last 80 years. Yet there remains confusion regarding how to judge its rigor.
The pandemic taught us that equity investors would be wise to seek to invest in firms with resilient supply chains. But is there a reliable way to identify firms whose supplier-customer relationships are less vulnerable to disruptions?
The enactment of the Tax Cuts and Jobs Act (TCJA) on Dec. 22, 2017 dropped the U.S. corporate tax rate from 35 percent to 21 percent, creating the prospect of substantially improved cash flows for many U.S. companies. While the effects of this tax cut are still working their way through the economy, it’s not too early to ask an important question: where did (or will) the money go?
...communities, and the time and effort required for economic recovery will vary across counties and neighborhoods. This dashboard provides data in near real-time to measure economic activity and recovery at...
In this week’s commentary, we’ll discuss the robustness of the improved health statistics, what the president’s executive orders mean for the economy and the first estimates from our undetected cases model. We do this with an eye toward what could be impending deterioration on both the pandemic and economic front.
Artificial intelligence enhancements are increasingly shaping our financial decision-making. But with what result?