The Center for Sustainable Enterprise, an affiliate of the Frank Hawkins Kenan Institute of Private Enterprise, is welcoming a new leader, as faculty director Albert Segars steps down after 14 years at the helm.
With an average of 20 new residents a day, Durham, North Carolina is booming. And no wonder. The boarded-up storefronts and abandoned warehouses of decades past have been transformed into trendy eateries and gleaming high-rises. A vibrant cultural scene, a burgeoning commercial district and a reputation for hipness have turned the city’s downtown area into the very picture of urban success.
Traditional financial institutions and fintech companies continue to debate the future of financial services and the role such innovations as blockchain and cryptocurrency will play in that future.
Please join us for an exclusive conversation with Bobby Long and Louise Brady on Wednesday, Sept. 22. This discussion is part of the Dean’s Speaker Series, hosted by Kenan-Flagler Business School Dean Doug Shackelford.
Much has been said (and rightly so) about the catastrophic effects of the COVID-19 pandemic. But there is another side to the crisis. It’s a story of hope, based on collaboration and innovation. As healthcare needs and economic hardships intensify, entrepreneurs around the globe are stepping up to create solutions that will not only address immediate needs, but also effect long-lasting change. A panel of Kenan Institute-convened experts discussed this surge of innovation in response to COVID-19 on April 7, 2020. The full recording of this press briefing–-along with a deeper-dive analysis on the drivers of innovation amid the crisis by UNC Kenan-Flagler Professors Mahka Moeen and Chris Bingham-–is available in this week’s Kenan Insight.
We examine the links between human capital and endowment investing. Harnessing detailed information on university endowments, we find that higher asset allocations to alternative assets accompany higher levels of human capital in the endowment’s investment process. Moreover, high levels of human capital are linked to larger returns, even on a risk-adjusted basis.
On Thursday, April 27, the Kenan Institute of Private Enterprise hosted John Haltiwanger, Dudley and Louisa Dillard Professor of Economics at the University of Maryland, for a hourlong chat on "Why Business Formation Surged During the Pandemic" Haltiwanger is a member of the 2023 class of Kenan Institute Distinguished Fellows. Together they comprise an exemplary set of global scholars committed to leveraging their individual expertise, thought leadership, research and networks to further the institute’s efforts to examine and drive solutions to issues facing business and the economy today. This year’s class will support the institute’s 2023 grand challenge: “Workforce Disrupted: Seeking the Labor Market’s Next Equilibrium.”
While prior research highlights the importance of codifying alliance experience to achieve alliance success, it is unclear whether codification is equally useful in the different phases of an alliance. Based on a sample of 192 technology firms that report on over 3,400 strategic alliances, we find that in the partner selection and termination phases, reliance on codified knowledge is useful. However, in the partner management phase, reliance on codified knowledge is less beneficial and can be even negatively related to performance. Our findings have implications for the tension between flexibility and efficiency and the relationship between structure and performance.
PERC returns to Oxford University’s Saïd Business School on May 11-12, 2023, for the Private Equity Research Consortium Spring Symposium. This group of scholars and industry professionals conducts and promotes research on private equity.
Participants include Jim Goldman, Assistant Professor of Financial Economics, University of Toronto; Eva Steiner, Associate Professor of Real Estate, Penn State University; Jay R. Ritter, Joseph B. Cordell Eminent Scholar, Warrington College of Business, University of Florida; Allyson Tucker, Chief Investment Officer, Washington State Investment Board; Michael Elio, Partner, StepStone; Christian Lundblad, Richard Levin Distinguished Professor of Finance, Director of Research, Kenan Institute of Private Enterprise; Matt Harvey, Managing Director, Head of Direct Lending, PGIM Private Capital; and David Sambur, Apollo Global Management, Inc.
Associate Professor, Economics Department, University of North Carolina at Chapel Hill
Charles P. McQuaid Professor of Finance, University of Chicago Booth School of Business and 2022 Kenan Institute Distinguished Fellow
We study the dynamics of pricing efficiency in the equity REIT market from 1993 to 2014. We measure pricing efficiency at the firm level using variance ratios calculated from quote midpoints in the TAQ database.
What can the corporate response to George Floyd’s murder teach us about today’s diversity challenges? Discover how meaningful actions on racial equity affected market valuations, through research from UNC Kenan-Flagler's Daniela De la Parra.
Save the date for the Fall 2023 NCGrowth Showcase in Bertie County, NC! Don't miss out on engaging presentations and lunch, Nov 30th, 2023, from 11:00 AM to 1:00 PM.
Entrepreneurship is encoded in the DNA of Rebecca White, director of the Entrepreneurship Center at The University of Tampa where she is James W. Walter Distinguished Chair of Entrepreneurship. She is currently a Keohane Distinguished Visiting Professor at UNC-Chapel Hill and Duke University.
This article examines the development of university technology transfer operations at the Research Triangle region’s three universities.
This paper provides the first large-sample analysis of buyout and venture capital fund values over their lifetimes. Specifically, we examine interim fund investment multiples (TVPIs), internal rates of return (IRRs), and direct-alphas based on the current reported net asset values (NAVs) at each quarter of a fund’s life.