We examine the effects of mixed sampling frequencies and temporal aggregation on the size of commonly used tests for cointegration, and we find that these effects may be severe.
We consider a firm that can use one of several costly learning modes to dynamically reduce uncertainty about the unknown value of a project. Each learning mode incurs cost at a particular rate and provides information of a particular quality. In addition to dynamic decisions about its learning mode, the firm must decide when to stop learning and either invest or abandon the project.
...public good. Scholars are introduced to the critical role that business plays in identifying and providing sustainable solutions to contemporary, complex issues, and learn the interdisciplinary competencies of leadership, research...
Google Scholar tells us that, over a quarter of a million studies examine the relationship between CEO compensation and firm performance. Aguinis et al. (2018) take much of that work to task. Observing that the distribution of CEO compensation is skewed, they question any work that assumes a normal distribution. Correcting the flaw, Aguinis et al. (2018) conduct their own investigation of this important relationship. Contrary to previous work, they find no consistent empirical relationship between pay and performance. The authors review and discuss their work with a clear eye on its implications for improving our understanding of these relationships.
In business-to-business markets, top marketing and sales executives (TMSEs) have considerable influence on their organizations’ customer strategies. When TMSEs switch firms, a pattern of informal organizational connections results; this pattern reflects the flow of information and knowledge among firms and creates managerial social capital in the process. To model this information flow, the current study considers information reach and richness, conceptualized according to the network position (i.e., centrality and brokerage) of the firm in the TMSE mobility network, which can be constructed by tracing executive movements through the work experience records of TMSEs in an industry.
Firms are increasingly offering engagement initiatives to facilitate firm–customer interactions or interactions among customers, with the primary goal of fostering emotional and psychological bonds between customers and the firm. Unlike traditional marketing interventions, which are designed to prompt sales, assessing returns on engagement initiatives (RoEI) is more complex because sales are not the primary goal and, often, direct sales are not associated with such initiatives.
From investigating ways to improve the customer experience at centers housing families of children undergoing cancer treatment to examining how socioeconomic status affects individuals’ ability to accurately predict the viability of their financial investments, students in the Kenan Scholars MBA program showcased a wide range of business interests during the presentation of their capstone research projects on Wednesday, Dec. 12, at the Kenan Center.
Little is known about how TMT members affect a founder-led firm’s performance later in a firm’s life. Using novel methods and a sample of over 2,000 firms, we find that although team structure has a significant impact on the performance of non-founder-led firms (consistent with past literature), it has little to no effect on the operating performance of founder-led firms, suggesting that founder CEOs may exert too much control.
Servicization is a business strategy to sell the functionality of a product rather than the product itself. It has been touted as an environmentally friendly strategy as it encourages manufacturers to take more responsibility for their products. We study when servicization results in a win-win outcome where it can simultaneously increase a firm’s profits and decrease its environmental impact compared with selling products.
The local levels of economies have felt the impact of technological change and globalization. These forces have triggered the need to understand the dynamic mechanisms that enable locales to respond to such changes. For example, the downsizing of traditional employers because of a major loss in market share due to new competitors, acquisition by global firms, or off-shoring of production or services was traditionally thought to be beyond the scope of powers of local policymakers, thinkers, and business leaders.
On Sept. 9-11, 2019, the Kenan Institute and the University of North Carolina at Chapel Hill’s Institute for African-American Research will co-host the second Black Communities Conference, an international gathering of scholars and community leaders from across the African diaspora. The conference's core mission is to connect academics from a variety of disciplines with black communities, with the goal of enhancing the life of those communities.
Recent health policy efforts have attempted to promote constructive conversations regarding cost-effectiveness by increasing transparency for both patients and physicians. Spurred by access and cost challenges resulting from increasing pharmaceutical prices, the Centers for Medicare & Medicaid Services (CMS) proposed a rule that would require direct-to-consumer prescription drug advertisements to include the list price for a typical 30-day course of therapy, according to their weighted average cost. This Viewpoint discusses implementing price transparency for health care products and services where physicians spend an increasing proportion of their time—in electronic health records (EHRs).
Research is a signature component of the Kenan Scholars program. It drives innovation and is critical to conducting business in today’s data-driven economy. Employers are looking for leaders who can...
The Kenan Institute of Private Enterprise has awarded six 2020 Frontiers of Entrepreneurship research grants to 11 scholars from around the globe. Each $10,000 grant will be used to support a wide array of research on strategy, finance, innovation and other entrepreneurship issues of interest to practitioners and policymakers.
As Global Entrepreneurship Week begins, Professor Ted Zoller, faculty director of the Kenan Institute-affiliated UNC Entrepreneurship Center, discusses what UNC Kenan-Flagler Business School is doing to drive innovation in entrepreneurship education and prepare the next generation of entrepreneurs for success.
...Carolina CEO Leadership Forum have developed a new dashboard that aggregates real-time, non-standard economic and public health data to guide critical policy decisions on reopening the state’s economy amid COVID-19....
A panel of experts convened by UNC Kenan-Flagler Business School and its affiliated Kenan Institute of Private Enterprise will be offering a press briefing via webinar examining the massive implications the COVID-19 market disruption has, and will continue to have, on small business employment, including a projected 11.5 percentage point addition to the overall U.S. unemployment rate by small business layoffs. They will also examine the role relief legislation can and should play in mitigating the economic effects of the pandemic. Join tomorrow, Tuesday, March 31, at 11 a.m. EDT.
We evaluate the effects of two types of breaks (expected versus unexpected), and two distinct forms of unexpected breaks, and find that unexpected breaks can, under certain conditions, yield immediate post-break performance increases.
We find that although team structure has a significant impact on the performance of nonfounder‐led firms (consistent with past literature), it has little to no effect on the operating performance of founder‐led firms, suggesting that founder chief executive officers (CEOs) may exert too much control. Thus, the irony is that founders are retained to propel progress but their very retention may prevent progress.
One of the long-standing damages of institutional racism in the United States has been a bleak economic outlook for African Americans. In this Kenan Insight, we ask whether today’s activism might prove to be a defining moment in turning the tide for Black economic futures, and if so, who will play the key roles in creating lasting change.