The 2020 COVID-fueled economic downturn generated what has been referred to as a K-shaped recession, with both big losers (such as restaurants and the hospitality sector) and big winners (such as high tech and online retail). In this Kenan Insight, we explore how a nascent K-shaped recovery will likely affect U.S. businesses and households.
Join us on Tuesday, May 11, 2021, from 1-2:40 p.m EST for Federal Tax Policy: International Outlook. This webinar, which provides 2.0 CPE credits, is the third in a series of tax policy webcasts jointly hosted by the Kenan Institute-affiliated UNC Tax Center and the AICPA.
Since 1965, average idiosyncratic risk (IR) has never been lower than in recent years. In contrast to the high IR in the late 1990s that has drawn considerable attention in the literature, average market-model IR is 44% lower in 2013-2017 than in 1996-2000. Macroeconomic variables help explain why IR is lower, but using only macroeconomic variables leads to large prediction errors compared to using only firm-level variables. As a result of the dramatic change in the number and composition of listed firms since the late 1990s, listed firms are larger and older. Larger and older firms have lower idiosyncratic risk. Models that use firm char-acteristics to predict firm-level idiosyncratic risk estimated over 1963-2012 can largely or completely ex-plain why IR is low over 2013-2017. The same changes that bring about historically low IR lead to unusu-ally high market-model R-squareds.
The 2020 U.S. economic downturn fueled by the COVID-19 pandemic generated both big losers (such as restaurants and the hospitality sector) and big winners (such as high tech and online retail), leading economic commentators to call the recession “K-shaped.” As the pandemic evolves in 2021, this K-shaped recovery will go global; though some countries, notably the U.S. and China, are securely tethered to the largest economic booster rocket ever built, a sizable swath of the world will continue to suffer weak growth.
The high cost of building plants and safety concerns are among the obstacles blocking U.S. nuclear power’s return to relevance as an energy source, but the opportunity is there and government action will play a part.
...Corporate: $25,000 or above Contact David Knowles Director of Business Development and Finance David_Knowles@kenan-flagler.unc.edu Patrick Hartley Fellow Patrick_Hartley@kenan-flagler.unc.edu Participants Lee S. Ainslie III Managing Partner, Maverick Capital Management LLC Russ...
The 11th Annual ARCS Research Conference will be hosted by the Center for Sustainable Enterprise at the UNC Kenan-Flagler Business School and Kenan Institute of Private Enterprise.
People believe that weather conditions influence their everyday work life, but to date, little is known about how weather affects individual productivity. Contrary to conventional wisdom, we predict and find that bad weather increases individual productivity and that it does so by eliminating potential cognitive distractions resulting from good weather.
Socialization theory has focused on enculturating new employees such that they develop pride in their new organization and internalize its values. We draw on authenticity research to theorize that the initial stage of socialization leads to more effective employment relationships when it instead primarily encourages newcomers to express their personal identities.
To manage marketing channels, subsidiaries of multinational corporations (MNCs) must balance headquarters’ (HQ) mandates with the local realities of the foreign markets. The performance implications of subsidiary–distributor relationship efforts thus are contingent on the HQ–subsidiary relationship.
The Frank Hawkins Kenan Institute of Private Enterprise welcomed nearly 200 undergraduate business students, MBA candidates and members of the UNC Kenan-Flagler Business School community to the Kenan Center Dining Room for the institute’s annual open house event on Tuesday, Aug. 28.
NCGrowth, an affiliated center of the Frank Hawkins Kenan Institute for Private Enterprise, hosted its annual summer showcase in Sanford, N.C., on Friday, Sept. 7.
The Kenan Scholars Program enhances the Carolina experience and prepares students to succeed in a diverse world and interconnected global economy.
Nineteen sophomore students from UNC Kenan-Flagler Business School have been selected as members of the fourth class of undergraduate Kenan Scholars. This five-semester program, sponsored by the Frank Hawkins Kenan Institute of Private Enterprise, brings together UNC business majors and minors that exhibit leadership and a passion for serving on campus and in the community.
Five of the top 10 skills identified for business success are entrepreneurial skills, making entrepreneurship education relevant not just for would-be startup owners, but for general business students as well.
Kenan Scholar JoLynn Smith reflects on the KIFE 2020 keynote address from Backstage Capital Founder Arlan Hamilton and argues that the venture capital space needs to adopt more of Hamilton's "disruptive" strategies.
Kenan Scholar Abby Staker shares her takeaways from the 2020 Kenan Institute Frontiers of Entrepreneurship Conference.
Join us for our next discussion as Isaiah Hull, a Senior Economist with Sweden’s Central Bank introduces quantum money and highlights the common misconceptions about what is achievable with quantum computing in economic models.
The Institute for Private Capital’s newly-released interactive model that aims to help private equity leaders assess diversity, equity and inclusion (DEI) goals was featured in a report by Ernst & Young.