Jim Johnson presented at the North Carolina Local Government Budget Association's 2017 Summer Conference in Wilmington about signs of global aging, key drivers, and opportunities for economic development.
Last week, our affiliated Center for Sustainable Enterprise hosted the 11th Annual Alliance for Research on Corporate Sustainability Conference at UNC Kenan-Flagler Business School. ARCS is a consortium of universities and individuals that serves as a professional society of scholars studying the interface between business and sustainability. The annual conference brings together researchers from a variety of disciplinary and methodological perspectives who seek to advance the state of the field.
On Thursday, January 30, we’ll be livestreaming the opening session of our fourth annual Frontiers of Entrepreneurship conference, featuring the release of the first-ever Trends in Entrepreneurship Report and a series of interviews with experts speaking to the findings and themes highlighted. The full report will be available for download at frontiers.unc.edu. 9:30 a.m. EST: Opening Frontiers of Entrepreneurship conference plenary + 2020 Trends in Entrepreneurship Launch 12:00 p.m. EST: Interview with Kenan Institute Executive Director Greg Brown 12:20 p.m. EST: Interview with JPMorgan Chase Institute Director of Business Research Chris Wheat 12:40 p.m. EST: Interview with University of Chicago Polsky Center of Entrepreneurship and Innovation Executive Director Starr Marcello 1:00 p.m. EST: Interview with Union Square Ventures Partner Brad Burnham 1:20 p.m. EST: Interview with UNC Kenan-Flagler Business School Phillip Hettleman Distinguished Scholar, Professor and Area Chair of Strategy & Entrepreneurship Chris Bingham 1:40 p.m. EST: Interview with Backstage Capital Founder and Managing Partner Arlan Hamilton
Interested in a recap of the Frontiers of Business Conference: Workforce Disrupted? Read the key takeaways and powerful insights from the conference's speakers and panelists on the 2023 grand challenge theme.
Employee cynicism is on the rise, and thus is increasingly part of the social fabric in modern workplaces. In this paper, we investigate whether interactions with cynical others may produce undesirable effects on employee energy.
The coronavirus disease 2019 pandemic has brought into focus the limits on flexibility and innovation associated with market consolidation in care delivery. While anecdotes about the ossification in care delivery predominate, broader economic indicators point to the negative outcomes of consolidation.
The long-term upward trend in Hong Kong's housing price and its ever-increasing price-rent ratio has caused extensive concern from investors and researchers. Dynamic Gordon Model ties an asset's worth to the expected value of the future payoff stream accruing to the asset, and it has been widely used in the literature on finance and real estate asset. As far as we know, this model has not been applied to the research on the Hong Kong real estate market. In this paper, we used this model to analyze the quarterly date of Hong Kong housing prices and other economic indicators from 1999 to 2019.
In this paper, we apply the ARMA-GARCH model to Hong Kong real estate market. We analyzed the monthly data of housing, office retail and factories from February 1993 to February 2019. The result of ARCH LM test indicates that volatility clustering is shown in there four kinds of real estate. The price volatility of housing is influenced by foreign exchange rate, especially the USD exchange rate. The commercial real estate market shows different, they are all influenced by unemployment. All these real estate shows limited inflation hedging ability in a short period. The result of the EGARCH model shows there were no asymmetric effects in the real estate market.
This article presents tests for the existence of common factors spanning two large panels/groups of macroeconomic and financial variables, and the estimation of common and group-specific factors. New analytical results are derived regarding (i) the difference in the asymptotic distribution of the test statistics when aggregating the data first and then extracting the principal components (PCs), or vice versa, as well as (ii) the estimation of the common factor and its asymptotic distribution, extending the work of Andreou et al. (2019).
As of 2019, salary history bans were enacted by 17 states and Puerto Rico with the stated purpose of reducing the gender pay gap. We argue that salary history bans may negatively affect wages as employers lose an informative signal of worker productivity. We empirically evaluate these laws using a large panel dataset of disaggregated wages covering all public-sector employees in 36 states and find, on average, that salary history bans lead to a 3% decrease in new-hire wages.
This study finds that the requirement of ASC 842 for firms to capitalize operating leases in financial statements beginning in 2019 resulted in firms affected by the standard reducing existing debt amounts on average between 7% and 10% relative to unaffected firms. We also find that firms with greater operating lease capitalization as a result of implementation of ASC 842 are more likely to reduce their reliance on existing debt.
Using a proprietary dataset from 2016 to 2019, we find that order flows from foreign investors, facilitated by regulatory liberalization through several channels, present strong predictive power for future stock returns in the Chinese market.
We examine the evolution of the gender pay gap in finance, using administrative U.K. data over two decades. We show a persistently larger gender pay gap in finance relative to other sectors, which is predominantly explained by skilled male employees sorting relatively more into finance. The gender pay gap in finance is lower for flexible occupations, in firms providing childcare benefits, and in female-friendly environments. Over time, the difference in the gender pay gap between finance and non-finance sectors has steadily narrowed from 40% in 1997 to 23% in 2019, as more skilled women sort into finance.
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.
We use industry valuation differentials across European countries to study the impact of membership in the European Union as well as the Eurozone on both 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 1990–2007 period shows that membership in the EU significantly lowered discount rate and expected earnings growth differentials across countries. In contrast, the adoption of the Euro was not associated with increased integration. Our results do not change when the sample is extended to include the recent crisis period.
We recently introduced a research program on how firms can effectively capture fleeting opportunities using heuristics. Heuristics, we advocate, are the essence of strategy, especially in unpredictable markets where opportunities are often numerous, fast moving, and uncertain. Our emphasis on heuristics invites comparison with prominent research programs in cognitive psychology. We address this opportunity by comparing our “simple rules” heuristics approach with “heuristics-and-biases” and “fast-and-frugal” heuristics research. Collectively, the three approaches offer a rich understanding of heuristics.
This paper provides evidence on the determinants and economic outcomes of updates of accounting systems (AS) over a 24-year time-span in a large sample of U.S. hospitals.
ABN AMRO’s origins date as far back as 1824, when its predecessor Nederlandsche Handel-Maatschappij was founded in the Netherlands. More recently the Dutch-based international bank is the result of the 1991 merger of ABN bank and AMRO bank. Today, ABN AMRO ranks 10th in Europe and 22nd in the world based on tier 1 capital. It has over 3,000 branches in more than 60 countries, a staff of over1105,000 full-time equivalents and total assets of EUR 560 billion (as per end 2003). The firm is listed on several exchanges, including the Amsterdam, London and New York Stock Exchanges.
Mark Little, executive director of CREATE, a Kenan Institute-affiliated center, has been named to the inaugural North Carolina Black Entrepreneurship Council (NC BEC). The council was founded by NC IDEA, a private foundation committed to supporting entrepreneurial ambition and economic empowerment in North Carolina.
Networks of serial entrepreneurs, investors, and their affiliated companies play a critical role in driving entrepreneurial behavior, investor focus, and innovation hot spots within specific industry sectors and are critical for shaping the character of robust regional economies.