Kenan Institute experts, industry leaders and researchers came together to discuss the broad societal impact of entrepreneurs – including entrepreneurial ecosystems, funding and America’s untapped assets – and some of the biggest trends currently seen in the industry.
Professor Paige Ouimet has been named executive director of the Kenan Institute of Private Enterprise at UNC Kenan-Flagler Business School effective Aug. 21. She succeeds Professor Greg Brown, who led the institute’s growth for eight years.
The institute's Distinguished Fellows comprise an exemplary set of global scholars leveraging their individual expertise to further the institute’s efforts to examine and drive solutions to issues facing business and the economy today.
The recent outbreak of COVID-19 has prompted governments—as well as public and private organizations—to adopt protective measures to prevent the spread of the virus and to mitigate its effects. Included in these measures are the processing of information on the movement of employees and suppliers, as well as sensitive health data. UNC Kenan-Flagler Business School Professor of Finance Eric Ghysels leads a discussion examining the differences in data protection laws in the United States and in the European Union (EU). The panel addresses questions as to how we should address the trade-offs of personal privacy protections versus issues of public health, how current data protection laws address these issues and what a re-imagining of these regulations might look like moving forward. Panelists include Information Technology Foundation Vice President and Director of ITIF’s Center for Data Innovation Daniel Castro and Head of Technology and Privacy at the European Data Protection Supervisor’s Office Thomas Zerdick.
Elevated levels of government debt raise concerns about their effects on long-term growth prospects. Using the cross section of US stock returns, we show that (i) high-R&D firms are more exposed to government debt and pay higher expected returns than low-R&D firms; and (ii) higher levels of the debt-to-GDP ratio predict higher risk premia for high-R&D firms.
We model a dynamic economy with strategic complementarity among investors and government interventions that mitigate coordination failures. We establish equilibrium existence and uniqueness, and show that one intervention can affect subsequent interventions through altering public information structures. Our results suggest that optimal policy should emphasize initial interventions because coordination outcomes tend to correlate. Neglecting informational externalities of initial interventions results in over- or under-interventions.
Profound demographic changes of all kinds are radically transforming America’s social, economic and political institutions. Perhaps one of the most troubling is something Urban Investment Strategies Center Director Dr. James Johnson calls the End of Men. The End of Men refers to the decade-long shift in the ratio of male to female students attending institutions of higher learning. The ratio of females to males born each year in the U.S. is roughly 50-50; the ratio among college students swings in favor of females, 60-40.
Each year, the Kenan Institute of Private Enterprise distinguishes a small group of incoming undergraduate and MBA students as Kenan Scholars. Students are selected for their superior scholarship and genuine interest in putting the private sector to work for the public good. Scholars supplement classroom learning with internships, field trips, research experiences, networking and mentoring. They engage with prominent leaders in business, academia, policy and government to gain real-world experiences that advance their problem-solving and leadership abilities. The Kenan Scholars Program enhances the Carolina experience and prepares students to succeed in a diverse world and interconnected global economy. Learn more: kenaninstitute.unc.edu/scholars
Each year, the Kenan Institute of Private Enterprise distinguishes a small group of incoming undergraduate and MBA students as Kenan Scholars. Students are selected for their superior scholarship and genuine interest in putting the private sector to work for the public good. Scholars supplement classroom learning with internships, field trips, research experiences, networking and mentoring. They engage with prominent leaders in business, academia, policy and government to gain real-world experiences that advance their problem-solving and leadership abilities. The Kenan Scholars Program enhances the Carolina experience and prepares students to succeed in a diverse world and interconnected global economy.
Each year, the Kenan Institute of Private Enterprise distinguishes a small group of incoming undergraduate and MBA students as Kenan Scholars. Students are selected for their superior scholarship and genuine interest in putting the private sector to work for the public good. Scholars supplement classroom learning with internships, field trips, research experiences, networking and mentoring. They engage with prominent leaders in business, academia, policy and government to gain real-world experiences that advance their problem-solving and leadership abilities. The Kenan Scholars Program enhances the Carolina experience and prepares students to succeed in a diverse world and interconnected global economy.
Each year, the Kenan Institute of Private Enterprise distinguishes a small group of incoming undergraduate and MBA students as Kenan Scholars. Students are selected for their superior scholarship and genuine interest in putting the private sector to work for the public good. Scholars supplement classroom learning with internships, field trips, research experiences, networking and mentoring. They engage with prominent leaders in business, academia, policy and government to gain real-world experiences that advance their problem-solving and leadership abilities. The Kenan Scholars Program enhances the Carolina experience and prepares students to succeed in a diverse world and interconnected global economy. Learn more: kenaninstitute.unc.edu/scholars
Each year, the Kenan Institute of Private Enterprise distinguishes a small group of incoming undergraduate and MBA students as Kenan Scholars. Students are selected for their superior scholarship and genuine interest in putting the private sector to work for the public good. Scholars supplement classroom learning with internships, field trips, research experiences, networking and mentoring. They engage with prominent leaders in business, academia, policy and government to gain real-world experiences that advance their problem-solving and leadership abilities. The Kenan Scholars Program enhances the Carolina experience and prepares students to succeed in a diverse world and interconnected global economy.
Stocks in a momentum portfolio, which contribute to momentum profits, do not experience reversal in the long run. Conversely, stocks that do not contribute to momentum profits exhibit subsequent reversals. Merging these separate securities into a single portfolio causes momentum and reversal patterns to appear linked.
When modeling economic relationships it is increasingly common to encounter data sampled at different frequencies. We introduce the R package midasr which enables estimating regression models with variables sampled at different frequencies within a MIDAS regression framework put forward in work by Ghysels, Santa-Clara, and Valkanov (2002).
A Different Kenan-Flagler Experience Each year, the Frank Hawkins Kenan Institute of Private Enterprise distinguishes a highly select group of incoming UNC Kenan-Flagler Business School students as Kenan Scholars. Through...
We empirically investigate the effect of uncertainty on corporate hiring. Using novel data from the labor market for MBA graduates, we show that uncertainty regarding how well job candidates fit with a firm’s industry hinders hiring and that firms value probationary work arrangements that provide the option to learn more about potential full-time employees.
In this paper, we build on research on the microfoundations of strategy and learning processes to study the individual underpinnings of organizational learning. We argue that once an individual has accumulated a certain amount of experience with a task, the benefit of accumulating additional experience is inferior to the benefit of deliberately articulating and codifying the experience accumulated in the past.
Real estate private equity (REPE) funds are often differentiated by risk class: core, value-added, or opportunistic. Fund class is used by investors and managers to allocate funds and to describe investment policies. In this paper, we use REPE fund cash flow data from Burgiss that allow us to calculate a variety of performance metrics. For a subset of the data, we also observe characteristics of underlying fund holdings. Despite evidence that Value-Added and Opportunistic funds differ in investment composition, we show that class does not do a good job of predicting differences in performance. Unsurprisingly, greater investment in development (as assessed ex post), predicts poor performance for funds raised just before the Great Recession.