There is no doubt that the COVID-19 crisis has devastated the U.S. economy. But the particulars of this devastation are difficult to gauge, because unique aspects of the of the pandemic distort the data commonly used to assess such situations. In this Kenan Insight, we take a deep dive into the data to learn what it actually tells us about the economic impact of COVID-19, and suggest possibilities for a restart and recovery of the U.S. economy. This briefing features Kenan Institute Executive Director Greg Brown, UNC Kenan-Flagler Business School Professors Elena Simintzi and Saravanen Kesavan, as well as Kenan Institute Research Director Christian Lundblad as they discuss recent economic data releases which show the nation’s largest ever declines in business activity, employment and aggregate wages.
A panel of experts from the North Carolina CEO Forum, convened by UNC Kenan-Flagler Business School and its affiliated Kenan Institute of Private Enterprise, offered a press briefing via webinar to introduce a new framework aggregating real-time, non-standard economic and public health data to guide critical policy decisions on economic openness. This press briefing features UNC Kenan-Flagler Business School Professor & Kenan Institute Research Director Christian Lundblad, Kenan Institute Senior Fellow & Carroll Family Holdings Founder David Carroll, First Citizens Bank Vice Chair Hope Bryant and Kenan Institute Executive Director and UNC Kenan-Flagler Business School Professor Greg Brown.
In our previous Kenan Insight, we outlined the major findings in our recent report, Seven Forces Reshaping the Economy. This week, we explore how the COVID-19 pandemic has upended education and childcare, ushering in changes to both that will last far beyond the current crisis.
With the belief that private enterprise is the cornerstone of every free and prosperous society, the nonpartisan Frank Hawkins Kenan Institute of Private Enterprise develops and promotes innovative, market-based solutions to vital economic issues facing business today. Hear from Prof. Greg Brown, the institute’s executive director, about our work to foster the entrepreneurial spirit, stimulate economic growth and improve the lives of people everywhere in the video above, and visit www.kenaninstitute.unc.edu to learn more about how you can get involved.
A July 2020 analysis conducted by the Urban Institute estimated states would lose $200 billion in tax revenue through the June 2021 fiscal period due to COVID-19. How states manage this shortfall will impact individuals and businesses. In partnership with the AICPA, our expert panel will share the latest revenue projections and provide insight into actions states are and will be taking to increase revenue.
Corporations face constant pressure to respond to a wide range of social, environmental and governance issues, many of are outside the company’s core mission. Determining whether or how to respond to such pressures is a complex process, often requiring substantial time and resources on the part of senior management. In a new paper, “Willing and Able: A General Model of Organizational Responses to Normative Pressures,” Olga Hawn, University of North Carolina Kenan-Flagler Business School Assistant Professor for Strategy, Entrepreneurship, and Sustainability; Rodolphe Durand of HEC Paris; and Ioannis Ioannou from the London Business School provide a dynamic framework for understanding how companies analyze and respond – or don’t respond – to “normative pressures” on matters that include global warming, environmental stewardship, occupational health, executive compensation and corporate governance, among others. This pressure comes from a wide range of interest groups that may include activists, non-governmental organizations (NGOs) and other stakeholders.
Kenan Institute Executive Director and Institute for Private Capital Research Director Greg Brown breaks down a recent white paper by Antii Ilmanen, Swati Chandra, and Nicholas McQuinn of AQR, which examines expected returns for Private Equity (PE). The paper’s authors claim that, when properly risk-adjusted, the returns on private equity are not attractive relative to public market stocks. The conclusion on lower returns is surprising to many because it’s at odds with what is now the well-documented outperformance of PE over the last few decades.
The COVID-19 pandemic has generated a significant shift in how and where we work, play and live. In this Kenan Insight, we explore which changes will be temporary and which are here to stay.
Q&A featuring Nasdaq Executive Vice President for Global Information Services Lauren Dillard, Institute for Private Capital Research Director Greg Brown, Maryland State Retirement and Pension System CIO Andrew Palmer, BlackRock Portfolio Manager - Managing Director Julia Wittlin and StepStone Group Partner Thomas Keck.
Five of the top 10 skills identified for business success are entrepreneurial skills, making entrepreneurship education relevant not just for would-be startup owners, but for general business students as well. In this video, Vickie Gibbs, executive director of the UNC Entrepreneurship Center, reveals what UNC Kenan-Flagler Business School is doing to teach these critical skills and address current and future trends in the evolving field of entrepreneurship.
Q&A featuring Nasdaq Executive Vice President for Global Information Services Lauren Dillard, BlackRock Portfolio Manager - Managing Director Julia Wittlin, Maryland State Retirement and Pension System CIO Andrew Palmer and StepStone Group Partner Thomas Keck.
Q&A featuring Nasdaq Executive Vice President for Global Information Services Lauren Dillard, BlackRock Portfolio Manager - Managing Director Julia Wittlin, StepStone Group Partner Thomas Keck, Maryland State Retirement and Pension System CIO Andrew Palmer and Institute for Private Capital Research Director Greg Brown.
A growing body of rigorous academic literature empirically demonstrates that high-skilled immigrants provide a range of long-lasting and material benefits to the U.S. economy through entrepreneurship and innovation. Recent research has quantified the impact of foreign-born founders on key economic indicators such as firm creation, job creation and overall business innovation. Likewise, a growing body of literature documents how skilled immigrants have more broadly facilitated technological innovation. Kenan Institute Executive Director Greg Brown discusses the findings of he and his colleagues in this Institute Insights.
Private equity investments have risen dramatically during the last two decades, not only in developed countries but in developing economies as well. Several studies have found evidence of improvement in firm performance following a private equity (PE) transaction, but surprisingly little is known about the implications of PE transactions for the economy – particularly the global economy. Kenan Institute Executive Director Greg Brown shares takeaways on his research with George Mason University Assistant Professor of Finance Serdar Aldatmaz.
Q&A featuring Yale School of Management Professor Olav Sorrenson, MIT Sloan School of Management Professor Matthew Rhodes-Kropf and Amadeus Capital Partners Chief Executive and Co-Founder Anne Glover.
Venture capital has existed since the 1970s, expanding and becoming more institutionalized year after year. But its growth in the aftermath of the global financial crisis has been unprecedented. UNC Kenan-Flagler Business School Professor of Finance and Kenan Institute of Private Enterprise Executive Director Greg Brown dives into some trends in the venture capital space today.
Kenan Institute Executive Director Greg Brown shares his thoughts on recent Congressional proposals that have advocated restricting companies’ ability to buy back their own shares.
Small businesses are an undeniable engine of growth for the United States, comprising 99 percent of all U.S. firms and driving nearly half our total economic activity. Yet small business owners across the country lack sufficient capital to succeed, grow and scale. The Kenan Institute has conducted a new analysis on the role of the Small Business Administration’s SBIC program in providing capital to the often-overlooked small businesses operating outside of metropolitan centers, as well as those owned by women and underrepresented minorities. Greg Brown, executive director at the Kenan Institute and professor of finance at UNC Kenan-Flagler Business School, discusses the findings in this video.
Q&A featuring Kenan Institute Executive Director Greg Brown and Yale School of Management Professor Olav Sorrenson.
2020 has been a year unlike any other. With a global pandemic, political turmoil and calls for a more just, diverse and inclusive space for all impacting our day-to-day lives, Kenan Institute Executive Director Greg Brown gives an update on the institute's work in these challenging times.