Individuals tend to give losses approximately 2-fold the weight that they give gains. Such approximations of loss aversion (LA) are almost always measured in the stimulus domain of money, rather than objects or pictures. Recent work on preference-based decision-making with a schedule-less keypress task (relative preference theory, RPT) has provided a mathematical formulation for LA similar to that in prospect theory (PT), but makes no parametric assumptions in the computation of LA, uses a variable tied to communication theory (i.e., the Shannon entropy or information), and works readily with non-monetary stimuli.
In order to deliver high quality, reliable, and consistent services safely, organizations develop professional standards. Despite the communication and reinforcement of these standards, they are often not followed consistently. Although previous research suggests that high job demands are associated with declines in compliance over lengthy intervals, we hypothesized – drawing on theoretical arguments focused on fatigue and depletion – that the impact of job demands on routine compliance with professional standards might accumulate much more quickly.
Save the date for the Family Enterprise Center's 9th Annual Family Business Forum "Communication in the Family Business."
Designed for family business leaders, non-family executives, business-owning families and future leaders, this UNC Kenan-Flagler Business School Family Enterprise Center online course is a unique opportunity to create a thoughtful roadmap for succession in family business. Come explore family business continuity challenges and common practices for successfully leading family-owned enterprises. Emphasis is placed on the importance of open, transparent communication in the family; the creation of a shared vision for the business; and the alignment of family and business goals.
Distinguished Fellow Christine Moorman leverages data from The CMO Survey to uncover the view of marketplace threats and resilience strategies from the perspective of actual managers as part of our 2024 Grand Challenge.
An influential group of private sector leaders, university administrators, and government officials gathered at the Raleigh Convention Center on March 1st to craft actionable strategies to help the Research Triangle region attract and retain “C-Suite” talent to emerging high-growth companies in North Carolina.
This case study describes the entrepreneurial ecosystem in Durham, North Carolina – the people and organizations primarily located downtown who embrace this mission.
...prosperous and free society, the institute fosters the entrepreneurial spirit to stimulate economic prosperity and improve the lives of people in North Carolina, across the country and around the world....
In Part 1 of this article, economic incentives were estimated for relaxing the requirement that biocrude entering the refinery infrastructure be oxygen (O2)-free. It was concluded that an accurate estimate of these incentives is not possible without a significant amount of additional data. Part 2 examines key issues that must be addressed and the associated data needed for this constraint to be relaxed.
Firms initiating broad-based employee share ownership plans often claim employee stock ownership plans (ESOPs) increase productivity by improving employee incentives. Do they? Small ESOPs comprising less than 5% of shares, granted by firms with moderate employee size, increase the economic pie, benefiting both employees and shareholders. The effects are weaker when there are too many employees to mitigate free-riding.
The Kenan Institute’s deep dive into stakeholder capitalism has exposed shortcomings in a key building block: ESG measurement. Our experts have explored the issue at length, proposing ways of refining these measures to produce structures that could meet the needs of multiple stakeholders while also working to design reporting free from political influence and agendas. As a next step, the Kenan Institute hosted a conversation featuring a business leader, investor and standard setter to discuss how we might turn these ideas into solutions to help integrate stakeholder capitalism principals into business and investment decisions.
As the unexpected increasingly becomes part of the everyday, Kenan Institute Distinguished Fellow Kathleen M. Sutcliffe discusses the capabilities and processes that allow businesses to face their moments of truth with resilience.
The COVID-19 pandemic has exposed flaws in the global supply chain that have existed for years, with disruptions that have led to a scarcity of goods as diverse as PPE, food and toilet paper. In this Kenan Insight, we examine how threats to supply chains are forcing companies to rethink how they can position themselves to mitigate future risk.
The widespread adoption of technological advances has made the move to working from home during the COVID-19 pandemic a success. In this Kenan Insight, we look at why the switch was such a win, its impact on worker productivity, and what it means in the long term for workers, office spaces and cities.
Small businesses are an undeniable engine of growth for the United States, comprising 99 percent of all U.S. firms and driving nearly half our total economic activity. Yet small business owners across the country lack sufficient capital to succeed, grow and scale. The Kenan Institute has conducted a new analysis on the role of the Small Business Administration’s SBIC program in providing capital to the often-overlooked small businesses operating outside of metropolitan centers, as well as those owned by women and underrepresented minorities. You can access an overview of our findings, as well as key takeaways for business and policy leaders, by clicking below.
Considerable scholarly analysis and media attention has documented the racially disparate impact of coronavirus infections, hospitalizations, and deaths. Constituting 13 percent of the general population, Blacks reportedly account for 25 percent of those that have tested positive and 39 percent of the COVID-related deaths in the United States.
Financial hardships caused by the COVID-19 pandemic are hitting low-income families in North Carolina especially hard, according to a new report released by the North Carolina Community Action Association (NCCAA). The study was commissioned by NCCAA to gauge how the pandemic was affecting its efforts to combat poverty and facilitate self-sufficiency in low-income communities.
COVID hit North Carolina hard, with 3.1 million cases so far and over 26,000 deaths. Low-income communities in North Carolina were especially hard hit, with higher rates of COVID infections and deaths, sudden loss of jobs with little buffer, disruption of families and communities. In this paper, we conduct a quantitative assessment of COVID-19’s impact on low-income North Carolinians and specifically on a subset of lower income North Carolina counties that are served by the North Carolina Community Action Association (NCCAA).
To date, our work on the American Growth Project has focused on the United States’ most populous urban areas. Our previous analyses of growth and productivity in the 50 largest Extended Metropolitan Areas (EMAs) have served to illustrate the tremendous amount of economic diversity to be found within the United States, revealing stark variations in economic trends, major industries and migration patterns in the country’s largest cities. We turn now to the task of measuring and analyzing economic activity in the next largest set of EMAs: the top 100 midsize cities.
In diverse industries, from grocery retailing to health care, retailers join buying groups to achieve better terms with suppliers. The authors track the buying group membership of Europe's largest grocery retailers over a 15-year period and evaluate why some buying groups are better than others in increasing retailer performance and why different members belonging to the same group do not always benefit equally from their membership.