Kenan Institute Executive Director and Institute for Private Capital Research Director Greg Brown gets the last word in this Bloomberg Businessweek article on the ubiquity of private equity.
Kenan-Flagler Business School professor and UNC Tax Center Research Director Jeff Hoopes comments on the intricacies of interpreting the president’s tax records if the push to release them ever comes to shove. Hoopes was quoted in this NPR article, which has been posted by more than 50 media outlets so far.
We find striking differences across economic states in how monthly and quarterly stock returns are related to changes in inflation expectations.
Marketers create social media, in the form of firm-generated content (FGC), to ignite interest in new products such as movies; in turn, there is a clear need to understand whether and how FGC influences demand. With a descriptive study, the authors investigate two potential mechanisms by which FGC may drive box office revenues.
Access challenges associated with high-cost pharmaceuticals have jump started discussion of solutions ranging from state-based boards reviewing drug price increases to harnessing Medicare’s purchasing power for “price negotiation” to old-fashioned price-setting.
We study dynamic decision-making under uncertainty when, at each period, a decision-maker implements a solution to a combinatorial optimization problem. The objective coefficient vectors of said problem, which are unobserved prior to implementation, vary from period to period.
This paper presents an easy-to-use measure of patent scope that is grounded both in patent law and in the practices of patent attorneys. We validate our measure by showing both that patent attorneys’ subjective assessments of scope agree with our estimates, and that the behavior of patenters is consistent with it.
As firms mature, their founders are often replaced with seasoned executives. When founders are retained, the surrounding top management team (TMT) members are viewed as critical resources in helping compensate for the founder's managerial deficiencies. Surprisingly, however, little is known about how TMT members affect a founder‐led firm's performance later in a firm's life.
This study examines the importance of social perception of corporate social responsibility (CSR) and irresponsibility (CSI). Drawing from social psychology literature on stereotypes, we argue that two fundamental dimensions of social perception—warmth and competence—help explain the underlying processes and conditions under which CSR leads to specific outcomes.
We utilize the time period over which banking authorities discussed, adopted, and implemented Basel III to examine the financial reporting and operational decisions firms use to respond to proposed regulation. Our primary finding is that the banks affected by this proposal made strategic financial reporting changes and altered their business models prior to the regulation being enacted.
Following 2 decades of discussion, the border adjustment tax (BAT) briefly emerged as part of proposed US corporate tax reform in early 2017. While heavily debated, little empirical evidence exists regarding the BAT. We take advantage of the period during which the BAT was under strong consideration to examine its effects on shareholder value.
Pump-and-dump schemes (P&Ds) are pervasive in the cryptocurrency market. We find that P&Ds lead to short-term bubbles featuring dramatic increases in prices, volume, and volatility. Prices peak within minutes and quick reversals follow. The evidence we document, including price run-ups before P&Ds start, implies significant wealth transfers between insiders and outsiders.
Why do managers act unfairly even when they recognize the significant organizational benefits of treating employees fairly? Prior research has explained this puzzling phenomenon predominantly through an “actor-centric” perspective, proposing that managers’ just behavior is an outcome of their own individual differences.
A central idea in the feedback seeking literature is that there should be a positive relationship between self-efficacy and the likelihood of seeking feedback. Yet empirical findings have not always matched this theoretical claim. Departing from current theorizing, we argue that high self-efficacy may sometimes decrease feedback seeking by making people undervalue feedback and that perspective taking is an important factor in determining whether or not this occurs.
We examine how firms’ accounting quality affects their reaction to monetary policy. The balance sheet channel of monetary policy predicts that the quality of firms’ accounting reports plays a role in transmitting monetary policy by affecting information asymmetries between firms and capital providers.
Channels have traditionally been viewed as intermediaries that facilitate the transfer of products from manufacturers to consumers. Innovations in digital technologies help firms to integrate the customer experience across channels and devices. This new phenomenon is referred to as “omnichannel marketing.”
Maryann Feldman, director of CREATE Prosperity, discussed her work on building an entrepreneurial startup database with data from across North Carolina at the NC Entrepreneurial Ecosystem Summit on Monday in Raleigh.
Marketing academics are keenly aware of the seismic shifts in today's marketing environment caused by digital (dis)intermediation. In this article, we discuss four types of digital (dis)intermediation, and how they affect branding activities of incumbents and new firms.
A consumer's decision to engage in search depends on the beliefs the consumer has about an unknown product characteristic such as price. In this paper, we elicit the distribution of price beliefs and explicitly study their role in a consumer's decision to search.
Perceived integrity of managers affects employee attitudes. Yet its impact on employee behavior and organizational performance is unknown. Addressing this gap, we examine the effect of perceived integrity in leadership on both subjective firm performance and objective employee productivity.