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.
After screening for attentiveness and comprehension, we present subjects with Ellsberg's (1961) two‐urn problem using essentially equivalent but representationally complex matrices. High‐comprehension subjects exhibit rates of ambiguity aversion typical of the standard two‐urn problem, while low‐comprehension subjects appear to randomise.
This trial will provide evidence on the impact of a behavioral intervention to implement huddles as a key component of team-based care models. Knowledge gained from this trial will be critical to broader deployment and successful implementation of team-based care models.
On Sept. 28, 2018, we traveled to Elizabeth City for the launch NCGrowth's SmartUp Program. We took a ride on U.S. Coast Guard boats, sampled local food and drink and learned how this nearly $1 million SunTrust Foundation grant will impact the community.
In June 2018, the UNC Tax Center and the Tax Policy Center co-hosted a conference to address the recently enacted federal tax reform on financial reporting and investment incentives in Washington, DC.
In 2018, the Institute for Private Capital celebrated the 10th anniversary of the Private Equity Research Consortium (PERC). The conference has established a reputation as leading the discussion between leading academics and practitioners in the private capital arena.
North Carolina is a migration magnet. In 2018 alone, more than 87,000 people moved into the state. Perhaps the most stunning example of how migration has transformed the state is the city of Durham, a once-gritty town that made its name in tobacco and textile manufacturing. Dr. Jim Johnson, director of the Urban Investment Strategies Center, believes taking advantage of Durham’s migration dividend and balancing it with more inclusive and equitable development is an imperative for success.
The Kenan Institute is proud to work in partnership with Gallup to explore a more holistic view of entrepreneurship in the U.S. with a focus on those who are driving economic growth in new ways. This work was featured at an event co-hosted by the Kenan Institute and held at Gallup headquarters in Washington, D.C. on Oct. 30, 2018.
China’s venture capital funding has contracted significantly since mid-2018. According to Christian Lundblad, director of research at the Kenan Institute, this is a byproduct of U.S. trade policy, some domestic Chinese investment policy and the usual ups and downs in a developing market. Some experts are now questioning if this will be China’s “tech bubble."
A pooled Public Use Microdata Sample File of the Census Bureau’s Annual American Community Survey (2011-2015) is used to (1) create a demographic profile of the nation’s older adult population; (2) develop an older adult household typology which encapsulates both generational dynamics and diverse living arrangements; and (3) identify older adults who face the greatest barriers to aging in place. Policies and strategies that support and facilitate successful aging in place for the most vulnerable older adults are discussed.
Older adults prefer to age in their homes rather than in an institution. However, in order to successfully age in place, age-friendly modifications are usually necessary to prevent life-threatening accidental falls and exposure to other environmental risks or hazards that unfortunately are all too common among older adults living in their own homes today.
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 of 22 percent of the population in 2040, up from 15% in 2015. We believe this population aging can be a new engine for innovation, business development, and employment growth in the U.S.
We document that higher measures of liquidity risk on banks balance sheets are associated with lower expected stock returns. We first calculate a measure of liquidity risk, referred to as the liquidity gap (LG), which reflects how much of a bank's volatile liabilities are covered by its stock of liquid assets.
Over the 1990 to 2014 period, we show that the macroeconomic-uncertainty index of Jurado, Ludvigson, and Ng (2015) is a powerful determinant of the slope in Treasury forward interest rates over the 10- to 30-year term-structure segment.
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.
Millions of employees face work schedules and wages that change frequently as firms try to match labor to demand. Here, we use personnel records from the retail industry to examine whether workers’ income precariousness impacts firm performance.
We examine the period over which banking authorities discussed, adopted, and implemented Basel III to understand whether, when, and how firms respond to proposed regulation. We find evidence to suggest that the affected banks not only lobbied rule makers against it, but these banks also made strategic financial reporting changes and altered their business models prior to rule makers finalizing the regulation.
This study provides general methods to measure and characterize the welfare costs of long-run consumption uncertainty with Epstein and Zin (1989) preferences. I find that long-run uncertainty can create significant welfare costs even when risk aversion is moderate and the short-run consumption volatility low.
Because current earnings predict future financial performance, the stock market reacts strongly to earnings announcements. How rapidly and in what manner information about marketing actions and strategies is accounted for in the stock valuation is less clear.
We model a dynamic economy with strategic complementarity among investors and study how endogenous government interventions mitigate coordination failures. We establish equilibrium existence and uniqueness, and we show that one intervention can affect another through altering the public information structure.