We examine the uncertainty in households’ expectations regarding macroeconomic outcomes, namely inflation and the rate of nationwide home price growth. We document that people extrapolate from the instability of their personal and local environment when assessing the future volatility of these macroeconomic variables.
This study explores the role of knowledge interdependencies on the termination of patented inventions. Termination refers to the abandonment of inventive efforts that are no longer deemed promising. We argue that high interdependencies between an inventive effort and the other inventions in the same research program will increase the cognitive burden on managers and decrease the likelihood of termination.
Shareholder activists remain an important force in the boardroom. More than 60 activist campaigns were initiated against S&P 1500 companies in 2016. And although activist hedge funds have under‐performed the broad market since 2013, activists’ assets under management are still nearly double their level of four years ago, and announcements of their campaigns continue to be met with increases in the target companies’ stock prices.
Corporate restructurings accomplished through spinoffs have long been a key tool for management to unlock shareholder value. In 2016, global spinoff volume reached $117 billion, and spinoff activity continues to unfold at a similar pace in 2017, with Hilton, Xerox, Alcoa, Johnson Controls, and Danaher all recently completing major transactions.
The selection of novel ideas is vital to the development of truly innovative products. Firms often turn to idea crowdsourcing challenges, in which both ideators and the seeker firms participate in the idea selection process. Yet prior research cautions that ideators and seeker firms may not select novel ideas. To address the links between idea novelty and selection, this study proposes a bi-faceted notion of idea novelty and probes the role of task structure.
Artificial intelligence enhancements are increasingly shaping our financial decision-making. But with what result? Kenan Institute Senior Faculty Fellow Eric Ghysels discusses his research which explores strategies commonly used in the robo-advising industry, including some involving advanced machine learning methods, to assess the potential benefits of robo-investing over a long period of time for a heterogeneous panel of individual investors.
Five of the top 10 skills identified for business success are entrepreneurial skills, making entrepreneurship education relevant not just for would-be startup owners, but for general business students as well. In this video, Vickie Gibbs, executive director of the UNC Entrepreneurship Center, reveals what UNC Kenan-Flagler Business School is doing to teach these critical skills and address current and future trends in the evolving field of entrepreneurship.
Governments around the globe are exploring how to leverage technology and data analytics to enable effective contact tracing to stem the spread of COVID-19. UNC Kenan-Flagler Business School Professor of Operations Jay Swaminathan hosts a panel of experts to explore how developers, corporations, regulators and consumer advocates are thinking about the impact of integrating this technology in response to the pandemic. Panelists include IBM Watson IoT VP of Offering Management Stephan Biller; the Heritage Foundations's Center for Technology Policy Director Klon Kitchen; the Future of Privacy Forum CEO Jules Polonetsky and UNC Gillings School of Global Public Health Associate Professor and Carolina Population Center MEASURE Evaluation Project Director Jim Thomas.
Are you a forward-thinking student at UNC? Join the Kenan Institute of Private Enterprise Ambassador Interest Meeting on September 19 at 5 PM to learn more about how you can represent the Institute and serve as hosts for visitors.
In modern work teams, successful performance requires adaptation to changing environments, tasks, situations, and role structures. Although empirical studies of team adaptive performance have generated key inferences about team adaptation in specific contexts, there are important conceptual differences across the adaptive stimuli examined in the literature (e.g., novel environments vs. downsizing).
The current paper examines how asking for a report of units of work completed versus cost of the same work can influence overbilling. We suggest that something as simple as asking for a report of units of work completed (for instance, reporting either the time spent or number of units of work completed) as opposed to the cost of the work completed can drive different unethical behaviors.
For the first time since the tumult of the global financial crisis, the Federal Reserve lowered interest rates by 25 basis points on July 31. The decision was controversial along a multitude of dimensions. Kenan Institute Director of Research Christian Lundblad sounds off on the effects of such a move.
Prior research suggests that female negotiators often obtain worse outcomes than male negotiators. The current research examines whether this pattern extends to the large subset of men and women who identify as gays and lesbians. In particular, we interweave scholarship on gender stereotypes with work on intersectionality and MOSAIC theory to develop a theoretical model that anticipates how male and female negotiators will be treated at the bargaining table based on whether they are perceived to be heterosexual or homosexual.
Prior research suggests that female negotiators often obtain worse outcomes than male negotiators. The current research examines whether this pattern extends to the large subset of men and women who identify as gays and lesbians. In particular, we interweave scholarship on gender stereotypes with work on intersectionality and MOSAIC theory to develop a theoretical model that anticipates how male and female negotiators will be treated at the bargaining table based on whether they are perceived to be heterosexual or homosexual. This model predicts that homosexual women, like heterosexual men, will receive more beneficial negotiation offers and outcomes than heterosexual women and homosexual men.
As with any U.S. presidential election, 2016 forces us to examine issues that are critical to the economy now and in the future. What's Next America brings together CEOs, researchers and policy makers to go beyond prescribed solutions. Thought and action come together in a full day of workshops and panels aimed at having a real impact.
A panel of experts from the North Carolina CEO Forum, convened by UNC Kenan-Flagler Business School and its affiliated Kenan Institute of Private Enterprise, offered a press briefing via webinar to introduce a new framework aggregating real-time, non-standard economic and public health data to guide critical policy decisions on economic openness. This press briefing features UNC Kenan-Flagler Business School Professor & Kenan Institute Research Director Christian Lundblad, Kenan Institute Senior Fellow & Carroll Family Holdings Founder David Carroll, First Citizens Bank Vice Chair Hope Bryant and Kenan Institute Executive Director and UNC Kenan-Flagler Business School Professor Greg Brown.
The launch of a new investigative series examining the most critical healthcare issues facing the United States today.
Amid a chaotic year both nationally and globally due to the ongoing COVID-19 pandemic and follow-on effects, private equity deals in healthcare have shown impressive resilience. According to recent research and analysis, healthcare PE deals continue to outpace all other deals – both in volume and value – with the majority of activity focused on the healthcare provider space and biopharmaceutical companies. As total healthcare deal value continues to grow, this panel paused to explore critical questions about how the growth in PE-backed healthcare companies affects patients – including their health outcomes, their medical bills and their access to important health services.
This session delves into three critical aspects of smaller/regional funds. First, is their role in increasing diversity among both capital allocators and entrepreneurs who receive funding. Second, is how pooling capital in diversified vehicles that can invest locally can promote investment by larger VCs/investors. Third, is how regional funds can bridge the divides in communities that lack robust VC ecosystems.