The Kenan Institute Director’s Council is a forum of corporate executives, academic researchers and policymakers committed to the institute’s mission of leveraging private enterprise for the public good. Their participation helps support core initiatives of entrepreneurship, dynamic economies and global commerce by funding programs, research and graduate student fellows.
We examine the social perception of emotional intelligence (EI) through the use of observer ratings. Individuals frequently judge others’ emotional abilities in real-world settings, yet we know little about the properties of such ratings.
We propose a general GARCH framework that allows one to predict volatility using returns sampled at a higher frequency than the prediction horizon.
Sutcliffe, a Kenan Institute Distinguished Fellow, will highlight the state of knowledge about resilience, drawing together multiple sources of research that include a recent study of adventure racing.
It is common wisdom that practice makes perfect. And, in fact, we find evidence that when given a choice between practicing a task and reflecting on their previously accumulated practice, most people opt for the former. We argue in this paper that this preference is misinformed. Using evidence gathered in ten experimental studies (N = 4,340) conducted across different environments, geographies, and populations, we provide a rich understanding of the conditions under which the marginal benefit of reflecting on previously accumulated experience is superior to the marginal benefit of accumulating additional experience.
Customer review manipulation is a common strategy employed by sellers of online marketplaces to combat competitors. The impact of this deceptive behavior on the competitive pricing of online marketplaces is intricate. First, buying fake reviews incurs additional costs and alters customer demand in competitive settings by misrepresenting product information. Second, the pricing is determined through internal competitions, where sellers compete with each other within an online marketplace. This is because the winner's price is the default price displayed to customers, representing the price of the online marketplace. Meanwhile, online marketplaces also effectively manage prices in order to stay competitive in external competition against multi-channel retailers, further complicating this problem. To unravel this influence mechanism, we build instrumented econometric models and develop a game-theoretic model to empirically and theoretically analyze this influence mechanism in the context of internal and external competitions, respectively.
Banks face corporate and regulatory governance pressures. A critical tool of regulatory governance is direct monitoring by bank supervisors. Supervisors assess banks using a multi-dimensional rating scheme, including a rating of top management teams (M-rating). We examine implications of M-ratings from the distinct, but complementary perspectives of managerial capital and managerial discipline.
UNC-Chapel Hill professor and Kenan Institute expert Iheoma U. Iruka took part in a roundtable discussion on the "childcare cliff" on PBS NC’s “State Lines” July 5. The episode is available online.
UNC Tax Center Research Director and Kenan-Flagler Business School Professor Jeff Hoopes, along with more than 200 accounting and tax experts, penned a letter to Congress raising concerns about the corporate tax on minimum tax in the Build Back Better plan.
Join us to hear from Seth Lloyd, Professor of Mechanical Engineering and Physics at MIT, as he shares his findings on quantum algorithms for analyzing financial data and predicting time series
In a Financial Times article on paying executives in the age of stakeholder capitalism, UNC Kenan-Flagler Business School Professor Camelia Kuhnen notes that performance-related compensation packages can have negative consequences.
I investigate the exit outcomes of start-ups backed by government VCs (GVCs) and private VCs (PVCs), using a sample of 8,106 start-ups in China funded by VCs between 1991 and 2013 and exit information updated in 2018. I find that start-ups backed by GVCs are less likely to exit through domestic Initial Public Offerings (IPOs), oversea IPOs, and M&As. GVC backed start-ups are also less likely to list on the intermediate public market before companies go to IPOs.
This study examines whether the information content of earnings announcements – abnormal return volatility and abnormal trading volume – increases in countries following mandatory IFRS adoption, and conditions and mechanisms through which increases occur. Findings suggest information content increased in 16 countries that mandated adoption of IFRS relative to 11 that maintained domestic accounting standards, although the effect of mandatory IFRS adoption depends on the strength of legal enforcement in the adopting country.
The current study meta-analytically examined the gendered nature of lateral and upward influence attempts. Drawing from gender role theory, we investigated the extent to which the gender of the influence actor affected the use and effectiveness of influence behaviors. The role of a gendered environmental context was also examined.
We study whether asset-class risk dynamics can help explain the predominantly negative stock-bond return relation and movements in the term-structure's slope over 1997-2011.
We study the use of residual income (RI) valuation methods by U.S. sell-side equity analysts, particularly as compared to DCF. We document that RI valuations are rare — just 1/16th as common as DCF — and that different RI and DCF valuations are not infrequently provided by the same analyst for the same firm in the same report.
This study seeks to inform investment academics and practitioners by describing and analyzing the population of return predictive signals (RPS) publicly identified over the 40-year period 1970–2010. Our supraview brings to light new facts about RPS, including that more than 330 signals have been reported; the properties of newly discovered RPS are stable over time; and RPS with higher mean returns have larger standard deviations of returns and also higher Sharpe ratios.
Competing technologies in emerging industries create uncertainties that discourage supplier investments. Open technology can induce supplier investments, but may also lead to intensified future competition. In this paper, we study competing manufacturers’ open-technology strategies. We show that despite the risk of intensifying future competition, open technologies by competing manufacturers may constitute an equilibrium and can indeed induce supplier investments.
Negotiations are inherently dyadic. Negotiators’ individual-level characteristics may not only make them perform better or worse in general, but also may make them particularly well- or poorly-suited to negotiate with a particular counterpart.
In this study, we conducted a meta-analysis to examine the moderating role of national culture on the relationship between perceptions of organizational politics and individual attitudes and behaviors.