Join us to hear Dr. Daniel J. Egger present his findings from his work in the Quantum Technologies group at IBM Research in Zurich. His research focusses on the control of quantum computers and on the practical applications of quantum algorithms in finance.
Over 1960 to 2017, we show that a positive risk premium from holding high-beta stocks (versus low-beta stocks) and small-cap stocks (versus large-cap stocks) is reliably earned only after the expected stock-market volatility breaches an approximate top-quintile threshold. The high conditional average returns with this nonlinear risk-return phenomenon are persistently evident over months t+1 to t+6 following a volatility-threshold breach in month t-1.
We study a manufacturer's optimal multiple-sourcing strategies when some but not all suppliers face risks of complete supply disruptions. Using an approximate model, we show that the optimal unreliable orders are ranked by a simple and intuitive criterion, and are invariant of minor market size changes. Furthermore, when ordering from one reliable and one unreliable supplier, we show that the total order quantity and its allocation between the two suppliers are independent decisions.
An analysis shows the overall number of suppliers and countries supplying goods did not change significantly from 2019 to 2021. Companies did shift away from riskier countries like China, and delivery patterns also changed.
The North Carolina Community College System is faced with a major dilemma: how to reduce the time to degree and increase the community colleges’ success or graduation rates, which system-wide now stands at 30% in four years. This research was designed to gain qualitative insights from a sample of recent graduates, that is, students who managed to graduate in four or fewer years, on critical success factors. From the standpoint of strategy development, we assert that building on success may be more productive than focusing on deficits in improving community college completion rates.
We use industry valuation differentials across European countries to study the impact of membership in the European Union as well as the Eurozone on economic and financial integration. In integrated markets, discount rates and expected growth opportunities should be similar within one industry, irrespective of the country, implying narrowing valuation differentials as countries become more integrated. Our analysis of the 1990 to 2007 period shows that membership in the EU significantly lowers discount rate and expected earnings growth differentials across countries. In contrast, the adoption of the Euro is not associated with increased integration.
We measure the racial/ethnic densities (RAEDs) of executives in a random sample of 523 US publicly traded companies and the S&P 500®. When we calibrate the RAEDs of executives as a whole against the RAEDs of the 2019 US population, we find that American Indians/Alaska Natives, Blacks and Hispanics are underrepresented and Whites are overrepresented. However, when we calibrate executive RAEDs against a benchmark that seeks to take into account key features of the demand for and supply of proto-executive talent, namely the RAEDs of the cohorts of students graduating with a bachelor’s degree from the broad New York Times 2017 list of the top 100 US four-year colleges and universities, matched to executives’ BA/BS graduation years, mostly different and at times opposite findings obtain.
Businesses across the state have their Help Wanted signs up, and respondents to the Carolina Across 100 survey confirm that it’s a pressing issue: Nearly 80% of the total sample put employment and staffing concerns among the top three negative effects of COVID-19 on their organizations. Chief Economist Gerald Cohen writes that COVID has played its part in the hiring problems but that other economic and demographic factors are in play. Data provides a mixed picture of what might lie ahead.
Companies face increasing pressure from different stakeholders to address various environmental, social and governance (ESG) issues. In their efforts to engage with these issues, they might pursue symbolic or substantive actions, either pre-emptively (proactive actions) or in response to specific targeted threats (reactive actions). Yet we know relatively little about how different stakeholders react to this repertoire of corporate actions and importantly, whether they are aligned in their reaction. We ask this question in the context of gender inequality, an issue that has become salient due to heightened societal attention thanks to the #MeToo movement.
Although the level of power held by the marketing department can determine key organizational outcomes, including firm performance, we show that this power has been decreasing since 2007. To address this apparent disconnect, we propose that the board of directors is a critical but overlooked antecedent of marketing department power. In particular, we demonstrate that directors’ exposure through board service at other firms (i.e., board-interlocked firms) affects the marketing department’s power in the firms on whose boards they also serve (i.e., focal firms).
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.
Using data from two experience-sampling studies, this paper investigates the dynamic relationships between discretionary behaviors at work—voluntary tasks that employees perform—and internal somatic complaints, focusing specifically on a person’s pain fluctuations.
We clarify differences among moderation, partial mediation, and full mediation and identify methodological problems related to moderation and mediation from a review of articles in Strategic Management Journal and Organization Science published from 2005 to 2014.
The purpose of the present article is to take stock of a recent exchange in Organizational Research Methods between critics and proponents of partial least squares path modeling (PLS-PM).
Voice, or the expression of work-related suggestions or opinions, can help teams access and utilize members’ privately held knowledge and skills and improve collective outcomes. However, recent research has suggested that sometimes, rather than encourage positive outcomes for teams, voice from members can have detrimental consequences.
To what extent do consumers boycott in response to corporate tax activities? Anecdotes suggest potential consumer backlash is a meaningful deterrent to corporate tax planning, and the tax literature has developed expectations that these boycotts happen. But empirical evidence on their existence and impact is limited. We undertake a comprehensive study to examine how consumers’ purchase behavior relates to corporate tax activities, triangulating across several designs, samples, and measures.
Kenan Scholars were able to learn more about research in the business world on Nov. 6 at the “What is Business Research?” workshop. In this second of a series of workshops taking place this year, students from the Kenan-Flagler Business School — including the newly admitted Kenan Scholars class of 2023 and MBA Kenan scholars class of 2022 — heard from professors Brad Hendricks and Breagin Riley, as well as PhD student Andre Martin and Postdoctoral Research Associate Ayana Younge about their experiences in research.
A surprisingly strong jobs report for June only adds to the difficulty of getting a read on the U.S. economy, writes Dan Barkin on the Business North Carolina site. He cites statistics offered by UNC Kenan-Flagler Professor Christian Lundblad in the institute’s July 8 economic briefing and notes Lundblad’s opinion that a “real” recession, rather than a technical recession, is more likely to arrive in early to mid-2023.