Goals and the performance feedback on those goals are fundamental to organizational learning and adaptation. However, most research has focused on single overall, high-level organizational goals, while ignoring important operational goals farther down in the goal hierarchy.
Taylor, who took on P&G’s top leadership role in 2015, shared his vision for transforming the venerable personal products giant into a leaner and more responsive company.
The current narrative around the U.S. labor market is a mixed bag, with unemployment numbers well above pre-pandemic rates while many companies struggle to fill jobs. In this Kenan Insight Q&A, three experts weigh in on the critical issues behind this dichotomy.
Our goal in this report is to assess the demographic and economic impacts of immigrants or the foreign-born on North Carolina regions, counties, and communities as well as The State as a whole.
Older adults prefer to age in their homes rather than in an institution. However, in order to successfully age in place, age-friendly modifications are usually necessary to prevent life-threatening accidental falls and exposure to other environmental risks or hazards that unfortunately are all too common among older adults living in their own homes today.
Long depicted as a global melting pot, the United States is home to a collection of sharply divergent geographies, regions and cultures. An overlooked measure of our diversity, however, is economic. While national statistics tell a story of averages, they fail to account for the true drivers of economic expansion and contraction. It is only upon examining America’s microeconomies – our cities, towns, suburbs and rural communities – that we can begin to appreciate the myriad and complex determinants of broader U.S., and sometimes even global, economic trends.
We introduce a new, market-based and forward-looking measure of political risk derived from the yield spread between a country's US dollar debt and an equivalent US Treasury bond. We explain the variation in these sovereign spreads with four factors: global economic conditions, country-specific economic factors, liquidity of the country's bond, and political risk. We then extract the part of the sovereign spread that is due to political risk, making use of political risk ratings. In addition, we provide new evidence that these political risk ratings are predictive, on average, of future risk realizations using data on political risk claims as well as a novel textual-based database of risk realizations.
Financial regulators and investors have expressed concerns about high pay inequality within firms. Using a proprietary data set of public and private firms, this paper shows that firms with higher pay inequality—relative wage differentials between top- and bottom-level jobs—are larger and have higher valuations and stronger operating performance. Moreover, firms with higher pay inequality exhibit larger equity returns and greater earnings surprises, suggesting that pay inequality is not fully priced by the market. Our results support the notion that differences in pay inequality across firms are a reflection of differences in managerial talent.
Using data from two experience-sampling studies, this paper investigates the dynamic relationships between discretionary behaviors at work—voluntary tasks that employees perform—and internal somatic complaints, focusing specifically on a person’s pain fluctuations.
We examine data on capital-gains-tax-related information search to determine when and how taxpayers acquire information. We find seasonal increases in information search around tax deadlines, suggesting that taxpayers seek information to comply with tax law.
We disentangle and study the relative importance of different risk preferences in explaining extended warranty purchases and the high premia paid for them. Empirical and behavioral research on insurance is at odds with whether diminishing returns (curvature of the utility function), or loss aversion and nonlinear probability weighting lead to observed consumer behavior. This lack of consensus is primarily due to the inability of standard choice data to separate different risk preferences, and the consequent need to rely on strong parametric assumptions.
We revisit the relation between stock market volatility and macroeconomic activity using a new class of component models that distinguish short run from secular movements. We study long historical data series of aggregate stock market volatility, starting in the 19th century, as in Schwert (1989).
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.
This paper examines the impact of NPD make/buy choices on product quality using data from the automobile industry. While the business press laments that NPD outsourcing compromises product quality, there is no systematic evidence to support or refute this assertion.
North Carolina is one of the major migration destinations in the U.S. A newly created dashboard that uses 2015-2016 Internal Revenue Service (IRS) county-to-county migration data provides key insights into both the origins and economic characteristics of recent newcomers to the Tar Heel State.
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 on re-starting the economy following the COVID-19 pandemic. Join Tuesday, June 16, at 11 a.m. EDT.
The Fed is threading a shrinking needle in its attempts to engineer a soft landing for the U.S. economy. Join Professor Greg Brown for a briefing built on the latest employment data and financial market signals, followed by his answers to questions from the audience.
Bringing a medical device to market requires startup founders to overcome challenges they may be ill-equipped to tackle. Alliances with former employers can help, but startups must carefully choose which markets they target.
In a recent paper published in the Economic Development Journal, James H. Johnson, Jr., Allan M. Parnell and Huan Lian, researchers from the Frank Hawkins Kenan Institute of Private Enterprise, assert that an aging population is an opportunity for economic growth.
Failing to consider neurodiversity when trying to create truly diverse and inclusive workplaces has crucial implications for productivity and general life satisfaction. Organizations should consider these three points of action to improve their work environments and cultures.