We discuss seven methodological improvements that would stimulate important advancements in management research. We refer to these improvements as ‘wishes’ that we hope will materialize within the next decade.
July employment numbers suggest that the economy isn’t heading into recession but instead is accelerating as the third quarter begins, Chief Economist Gerald Cohen said during the institute’s monthly economic briefing Aug. 5. “It’s still post-COVID recovery, but … we’ve surpassed the pre-COVID levels by 32,000,” Cohen said, as reported by the Triangle Business Journal.
The institute has teamed up to work with Fifth Third Commercial Bank Chief Economist Jeff Korzenik on research into second-chance hiring. In his new opinion piece in The Wall Street Journal, Korzenik discusses Japan’s “miracle” workforce expansion and what the U.S. can learn from it.
This study uses learning theory to show how knowledge domains affect product extension decisions and how these product decisions change as firms age. Faced with the choice of new product-markets, a firm might decide to introduce a similar product, by leveraging existing firm knowledge, or to experiment with a less familiar product, which requires new knowledge.
This study presents a semi-parametric spatio-temporal regression model to understand how theater level differentiation affects the performance of independent and affiliate movie theaters. Independent movie theaters are privately owned and managed retail establishments, while affiliate theaters are managed by national-level chains such as AMC and Regal.
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.
We investigate the spatial dependence between commercial and residential mortgage defaults. A new class of observation-driven frailty factor models is introduced to do so. The idea of dynamic parameters embedded in the class of GAS models is utilized to estimate dynamic models of default risk with potentially multiple factors which are driven by stratified grouping of large panels of mortgage loan records. The score dynamics in the models is driven by so-called generalized residuals, and have therefore a fairly intuitive interpretation of ARMA-like dynamics. The proposed models are computationally easy to implement and therefore attractive in big data applications, something that gives them a considerable advantage in comparison to the typical latent factor frailty models proposed in the literature.
The process for producing advanced bio-fuels from woody biomass using fast pyrolysis technology is in an early stage of development. Whether it will offer favorable economics versus future petroleum-derived fuels or other advanced bio-fuels is not clear at this time; however, a study of the value chain from growth to final distribution of drop-in bio-fuels has highlighted several factors that will have major impact on ultimate economics.
We propose a new, valuation-based measure of world equity market segmentation. While we observe decreased levels of segmentation in many countries, the level of segmentation remains significant in emerging markets. We characterize the factors that account for variation in market segmentation both through time as well as across countries. Both a country's regulation with respect to foreign capital flows and certain nonregulatory factors are important. In particular, we identify a country's political risk profile and its stock market development as two additional local segmentation factors as well as the U.S. corporate credit spread as a global segmentation factor.
Existing models of industry evolution describe a smooth pattern over time in which initial growth in the number of firms is followed by a sharp decrease due to a shakeout and an eventual stabilization as the industry reaches maturity.
Many managers today are spending more and more time working cross-functionally. For example, a recent Corporate Executive Board survey of over 20,000 employees found that 60-70% reported working in groups that involve individuals from other internal functional areas or other external stakeholders. Similarly, a Best Companies for Leadership survey, jointly sponsored by Businessweek.com and the Hay Group, found that more than 96% of managers in the top 20 performing global companies agreed with the statement, "My organization operates in a highly matrixed structure," where one of the main goals behind matrix structures is to pull together representatives from different functional groups to make decisions.
Prior studies attribute analysts' forecast superiority over time-series forecasting models to their access to a large set of firm, industry, and macroeconomic information (an information advantage), which they use to update their forecasts on a daily, weekly or monthly basis (a timing advantage).
ABN AMRO’s origins date as far back as 1824, when its predecessor Nederlandsche Handel-Maatschappij was founded in the Netherlands. More recently the Dutch-based international bank is the result of the 1991 merger of ABN bank and AMRO bank. Today, ABN AMRO ranks 10th in Europe and 22nd in the world based on tier 1 capital. It has over 3,000 branches in more than 60 countries, a staff of over1105,000 full-time equivalents and total assets of EUR 560 billion (as per end 2003). The firm is listed on several exchanges, including the Amsterdam, London and New York Stock Exchanges.
“We’re in a unique and transformative time in global history,” said General Mark A. Milley, chief of staff of the U.S. Army, speaking at UNC Kenan-Flagler Business School.
Immigration is one of the most contentious policy issues, and Congress has for decades failed to make any significant legislative progress. The result is an incoherent policy landscape and serious operational challenges on the ground. At the same time, immigration and immigrant integration are critical to U.S. workforce growth, government fiscal solvency, and innovation. I discuss key findings from the economics literature and their implications for where to focus immigration reform efforts.
The Kenan Institute will host an exclusive conversation with Roger McNamee, a long-time Silicon Valley insider currently on tour for his new book "ZUCKED: Waking Up to the Facebook Catastrophe."
The autonomous car began as an opportunity that required breaking all kinds of limits: engineering, navigation, adjusting to traffic conditions, distinguishing objects, predicting what those objects might do, reacting in time, calculating quickly and juggling a vast number of ever-changing variables. The developers used more and more computer power to address these needs. But the initial bounding limit turned out to be very fundamental; rule-based computers don’t have pattern power.
The spread between 10-year and 3-month Treasuries – my favorite economic indicator – remains strongly in positive territory, suggesting a recession is not in the cards soon. This indicator has predicted all recessions since the mid-1960s, with a lead time of roughly one year, though the timing is inexact. The 10-year/2-year spread, which briefly inverted recently, is less reliable.
We examine when anomaly returns occur. We use a powerful database that contains the precise date on which accounting information is first made public. Despite recent findings to the contrary, once timing is considered, anomalies exist in the data.