New business formation plays a crucial role in predicting economic activity in North Carolina. Research shows that business starts positively impact county GDP growth and job creation, with larger effects in highly populated counties. The impact is smaller but still significant in less populated counties. Employment growth also varies by sector—new businesses in goods-producing industries create jobs after a delay, while service-sector businesses contribute to job growth more quickly. This research was done in collaboration with the North Carolina Secretary of State’s Office and the North Carolina Collaboratory.
Modeling consumer heterogeneity helps practitioners understand market structures and devise effective marketing strategies. In this research we study finite mixture specifications for modeling consumer heterogeneity where each regression coefficient has its own finite mixture, that is, an attribute finite mixture model.
While commerce between firms, i.e., business or B2B markets is roughly comparable in monetary terms to the commerce between firms and consumers (B2C), the volume of high-quality academic research devoted to issues in B2B pales in comparison to that focused on B2C.1 Our goal with this special issue is a focus on important new research in this understudied domain.
Private equity continues to grow as a major investment vehicle in the U.S. and globally. The 12th annual PERC Conference will build on its legacy as a leading research symposium in the ever-expanding field of private equity.
We review the accounting literature on innovation, focusing on the attributes of innovation that collectively make it unique from other resources: novelty, nonrivalry, and partial excludability. These unique attributes help innovation drive economic growth but create information-based challenges that accounting researchers are well-suited to address. We discuss the definition and measurement of innovation, then review the accounting literatures on the disclosure, management, financial reporting, taxation, and contracting and financing of innovation. For each of these literatures we identify challenges and opportunities for future research.
As individuals seek success, destructive interpersonal clashes can emerge when they believe they can only succeed at the expense of others. Prior work suggests this zero-sum construal of success is more likely occur when people receive negative feedback regarding their achievement. In the present research, we identify another element in the workplace that can strengthen zero-sum beliefs, and not just for those who receive negative feedback, but even for those who receive positive feedback.
The North Carolina Community Action Association (NCCAA) commissioned a study to assess the impact of the COVID-19 pandemic on its efforts to combat poverty and facilitate self-sufficiency in low-income communities throughout the state. We conducted focus groups with individuals served by Community Action Agencies (CAAs) and conducted a corresponding set of key informant interviews with identified leaders in five communities across the state. The research focused on five themes. We generated eight key takeaways from our content analysis of the focus group transcripts and nine key takeaways from our content analysis of the transcripts emanating from our Zoom sessions with community key informants.
This chapter investigates the pricing of key contract provisions of Puerto Rican debt. In doing so, the chapter contributes to a body of research that asks the questions: do investors price contract provisions? Does the pricing of contract provisions vary with credit risk? To our knowledge, this is the first study to address these questions for the case of Puerto Rico or any municipal issuer. Puerto Rico’s unique status as a U.S. territory implies that its subsidiaries, such as municipalities, cannot file for bankruptcy under Chapter 9 of the U.S. Bankruptcy Code.
Past research in operations management and marketing on inventory levels and product variety has predominantly focused on their effects on brand performance indicators, such as sales and market share, while overlooking the influence on consumers’ perceptions of brands. Brand perceptions, encompassing reputation, quality, credibility, and emotional associations, go beyond typical revenue metrics and offer foresight into a brand’s future performance. Hence, understanding the effects of inventory and product variety on brand perceptions is crucial, and that constitutes the main contribution of this paper.
Work scheduling research typically prescribes task sequences implemented by managers. Yet employees often have discretion to deviate from their prescribed sequence. Using data from 2.4 million radiological diagnoses, we find that doctors prioritize similar tasks (batching) and those tasks they expect to complete faster (shortest expected processing time).
Although the non-financial corporate sector accounts for the lion’s share of the post-Global Financial Crisis surge in emerging-market leverage, there is little systematic research on factors that impact corporate distress risk in emerging markets. Existing bankruptcy risk models developed using US data have low predictive power when applied to emerging market firms. We suggest that these models do not account for emerging market vulnerabilities to global shocks such as advanced economy monetary policy changes, US dollar movements, or shifts in global liquidity and risk-aversion.
Research by the institute-affiliated UNC Tax Center shows just six publicly traded U.S. companies, including Amazon and Warren Buffett’s Berkshire Hathaway Inc., would have paid half the estimated $32 billion in revenue generated by a 15% corporate minimum tax signed into law last month. “Who actually pays a lot is just not very many firms at all,” said Jeff Hoopes, Kenan-Flagler Business School professor and the center’s research director, who is one of the study’s authors. “My guess is it will not be the same firms every single year.”
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.
Across the globe, every workday people commute an average of 38 minutes each way, yet surprisingly little research has examined the implications of this daily routine for work-related outcomes. Integrating theories of boundary work, self-control, and work-family conflict, we propose that the commute to work serves as a liminal role transition between home and work roles, prompting employees to engage in boundary management strategies.
Adverse events, such as product recalls, transcend business-to-business (B2B) secondary markets (i.e., used product markets). Yet, little, if any, is known about the impact of such adverse events on purchase responses of B2B buyers (i.e., channel intermediaries). The current study addresses this research gap in the empirical context of product recalls in the U.S. automobile secondary market.
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.
Kenan Scholar alum, Matt Bravante graduated with the first cohort of undergraduate Kenan Scholars last May. After completing his honors thesis in the field of energy pricing, Matt moved to New York City for a brief stint to work for Bloomberg New Energy Finance.
The purpose of this paper is to provide insightful advice that can improve the practice of using consumers’ pre-launch awareness and preference (AP) changes to predict the sales of new movies.
North Carolina adopted its County Tiers System to direct economic support toward struggling counties. An examination shows the nearly 40-year-old system is increasingly misaligned with both economic reality and stakeholder needs.
North Carolina is one of the major migration destinations in the U.S. A newly created dashboard that uses 2015-2016 Internal Revenue Service (IRS) county-to-county migration data provides key insights into both the origins and economic characteristics of recent newcomers to the Tar Heel State.