We examine the link between endowment investment performance and the expertise of university board members. Harnessing detailed information on 11,019 members for 579 universities, we find that expertise in alternatives and larger professional networks are associated with higher allocations to alternatives and better investment results.
This article describes an American community survey and a survey of business owners of which the data are merged to assess the experiences of minority- versus white-owned small businesses between 2007 and 2012. This is highlighted due to it being a period encompassing the worst economic downturn since The Great Depression. White firms declined while minority firms grew rapidly. Despite recent efforts to create inclusive entrepreneurial and business ecosystems, however, minority business owners made little progress toward achieving equity or parity with white business owners. Policy prescriptions and implications for future research are discussed.
In Never Stop Learning, behavioral scientist and operations expert Bradley R. Staats describes the principles and practices that comprise dynamic learning and outlines a framework to help you become more effective as a lifelong learner. Replete with the most recent research about how we learn as well as engaging stories that show how real learning happens, Never Stop Learning will become the operating manual for leaders, managers, and anyone who wants to keep thriving in the new world of work.
Find out what opportunities the institute has for you. Join us for the 2018 annual Welcome Reception in the Kenan Center Dining Room.
Kenan Institute Senior Faculty Fellow Maryann Feldman and Good Jobs First Executive Director Greg LeRoyco-authored an op-ed published in The Guardian on why American cities should stop trying to attract big tech and offer up alternative strategies to boost local economies.
While recent literature has depicted status as an intangible asset that is firm‐specific and mobile, we have a limited understanding of whether status confers advantage in a way similar to other intangible assets. This study examines the macro‐structural contingencies that influence the marginal value of firm status as firms expand to new markets. Building on the literatures on status and social approval assets, as well as globalization and international management, we hypothesize that two conditions influence how valuable home‐country status will be in a given host country: the interconnectedness of the home and host countries, and their relative position in the global network. We test our hypotheses in a study of 187 venture capital (VC)‐backed biotechnology ventures in 19 countries between 1990 and 2006.
In this article, we develop a novel theoretical framework detailing what collective action problems and solutions arise in market formation and under what conditions. Our framework centers on the development of market infrastructure with three key factors that influence the nature and extent of collective action problems: perceived returns to contributions, excludability, and contribution substitutability. We apply our framework to diverse market formation contexts and derive a set of attendant propositions. Finally, we show how collective action problems and solutions evolve during market formation efforts and discuss how our framework contributes to strategic management, entrepreneurship, and organization literatures.
Research exploring investor reactions to sustainability has substantial empirical limitations, which we address with a large‐scale longitudinal financial event study of the first global sustainability index, DJSI World. The study highlights the importance of careful analysis and longitudinal global samples in making inferences about the financial effects of social performance.
American Community Survey data are used to develop typologies of the generational dynamics and living arrangements of the estimated 1.6 million African American older adult households who will likely encounter the most difficulty aging in place. Policy recommendations and strategies are offered to address the specific barriers and challenges that must be overcome in order for these older adults to successfully live out their lives in their homes and community.
Older adults will drive U.S. population growth over the next quarter century. Projected to grow four times as fast as the total population, older adults will make up 22 percent of the population in 2040, up from 15 percent in 2015.
Conquering these youth challenges will get us a little closer to realizing Dr. King’s dream.
Designing modern call centers requires an understanding of callers’ patience and abandonment behavior. Using a Cox regression analysis, we show that callers’ abandonment behavior may differ based on their contact history, and changes across their different contacts.
This article develops a case of economic development policy as an adaptive and improvisational process: effective policy is endogenous and the result of negotiations and power relationships.
State and local economic development is often conceptualized as a series of successive waves, with each wave representing distinct policy priorities. In this study, we rework the standard wave metaphor to recognize the gains for regional economies when practitioners reach across established boundaries to work together to create a strategy mix.
The current research explores the relationship between living abroad and self-concept clarity. We conducted six studies (N = 1,874) using different populations (online panels and MBA students), mixed methods (correlational and experimental), and complementary measures of self-concept clarity (self-report and self-other congruence through 360-degree ratings).
Crowdsourcing contests (also called innovation challenges, innovation contests, and inducement prize contests) can be used to solicit multisectoral feedback on health programs and design public health campaigns. They consist of organizing a steering committee, soliciting contributions, engaging the community, judging contributions, recognizing a subset of contributors, and sharing with the community.
Crowdsourcing has been used to spur innovation and increase community engagement in public health programmes. Crowdsourcing is the process of giving individual tasks to a large group, often involving open contests and enabled through multisectoral partnerships. Here we describe one crowdsourced video intervention in which a video promoting condom use is produced through an open contest. The aim of this study is to determine whether a crowdsourced intervention is as effective as a social marketing intervention in promoting condom use among high-risk men who have sex with men (MSM) and transgender male-to-female (TG) in China.
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.
Using a dataset of 3,234 letters sent by 434 hedge funds to their investors during 1995–2011, we study what motivates hedge fund managers to make voluntary disclosures. Contrary to the hedge fund industry's reputation for opacity, we observe that managers provide their investors with an array of quantitative and qualitative information about fund returns, risk exposures, holdings, benchmarks, performance attribution, and future prospects.
We contribute to the emerging literature on strategic corporate social responsibility (CSR) and its antecedents by undertaking a systematic analysis of the effect of rivalry on firm and industry CSR. We deal with the codetermination of competition and CSR by using instrumental variables in the firm-level analysis and by modeling it directly in the industry-level analysis.