On January 18-19, 2018, the Frank H. Kenan Institute of Private Enterprise convened its second-ever Frontiers of Entrepreneurship Conference, bringing together academic researchers, policymakers and industry leaders to share their experiences, insights and ideas for improving the entrepreneurial climate in the United States and beyond.
VC University LIVE is a three-day certificate program on venture finance, created by NVCA, Startup@BerkeleyLaw, and Venture Forward in 2019, and held in partnership with universities in emerging VC ecosystems across the country.
In the Entrepreneurship Center's second chat, they feature the superstar-sister-founder-team: Niki and Ritika Shamdasani of Sani, a South Asian-inspired fashion brand. The sisters launched Sani in 2017 to create the outfits and shopping experience they always wished they could find for cultural clothing. That mission has led to a first-of-its-kind partnership with Rent the Runway, features in Business Insider, NBC and Good Morning America, and a loyal following of 70,000 on TikTok.
In this article, we develop a novel theoretical framework detailing what collective action problems and solutions arise in market formation and under what conditions. Our framework centers on the development of market infrastructure with three key factors that influence the nature and extent of collective action problems: perceived returns to contributions, excludability, and contribution substitutability. We apply our framework to diverse market formation contexts and derive a set of attendant propositions. Finally, we show how collective action problems and solutions evolve during market formation efforts and discuss how our framework contributes to strategic management, entrepreneurship, and organization literatures.
Gov. Roy Cooper has appointed NC IDEA President and CEO Thom Ruhe to his newly-formed entrepreneurial council. Ruhe, who also serves on the Kenan Institute Board of Advisors, is one of 16 business leaders charged with designing policies that encourage entrepreneurship, foster economic development and support sustainable, high-quality jobs.
The ways in which media news is slanted can shape beliefs about the economy, thereby affecting the decision to start a new business. Using exogenous variation in the introduction of Fox News Channel across US counties, I find that increased exposure to a pro-Republican slant during a Republican administration is positively associated with new firm creation.
The third annual Kenan Institute Frontiers of Entrepreneurship Conference convened thought leaders from academia, industry and government to debate the most challenging current issues in the field of entrepreneurship and set the agenda for future research and policy. It was held on Jan. 31 and Feb. 1, 2019 at The Breakers Palm Beach.
Advancing the next generation of research in entrepreneurship 100 thought-leaders from academics, industry and government debate the most challenging current issues in the field of entrepreneurship and set the agenda for future research and policy.
The Carolina Challenge is the premier entrepreneurship event at UNC-Chapel Hill. Every year, dozens of student teams pitch their ideas to over 200 judges at our Pitch Party in hopes of winning prize money to fund their ventures. This year, Amy Nelson, CEO of Venture for America, will serve as a keynote speaker.
Performance measurement and event studies frequently assume a specific stochastic process for stock returns. The purpose of this paper is to validate the predictive accuracy of various stochastic processes on data different from those used in estimating the models. The main conclusion is that multi-factor models estimated with factor analytic techniques provide more accurate forecasts than the usual market model with either an equal- or value-weighted index, and Fama–French three-factor model.
Do firms learn from their failed innovation attempts? Answering this question is important because failure is an integral part of exploratory learning. In this study, we consider whether and under what circumstances firms learn from their small failures in experimentation. Building on organizational learning literature, we examine the conditions under which prior failures influence firms' R&D output, in terms of amount and quality. Our findings contribute to the organizational learning literature by providing a nuanced view of learning from failures in experimentation.
When an innovator sources for an innovative product from a supplier who is also a competitor in the end market, the potential innovation spillover may be a serious concern. Will an innovation ever source from a competitor-supplier in the presence of innovation spillover? In this paper we attempt to answer this question with an emphasis on the ex-ante uncertain values of innovations, and distinguish between technical innovations which can only spill over through sourcing and non-technical innovations which can spill over through sourcing as well as in the market.
With every passing generation, a family-run business faces the risk of losing steam due to improper handovers and inadequate talent and leadership development. How, then, can the senior-generation of leaders ensure that all the years of blood and sweat that went into building a business don't go to waste? The third and final installment of our family business series attempts to answer this question.
Google Scholar tells us that, over a quarter of a million studies examine the relationship between CEO compensation and firm performance. Aguinis et al. (2018) take much of that work to task. Observing that the distribution of CEO compensation is skewed, they question any work that assumes a normal distribution. Correcting the flaw, Aguinis et al. (2018) conduct their own investigation of this important relationship. Contrary to previous work, they find no consistent empirical relationship between pay and performance. The authors review and discuss their work with a clear eye on its implications for improving our understanding of these relationships.
The staffing of parallel servers in a queue has interested operations researchers for decades, resulting in countless mathematical models studying queuing behavior. But to achieve tractability, these models typically assume the service rate and productivity of individual servers is independent of other servers and the status of the system. We question this assumption and consider whether inter-server dependence impacts queue performance, specifically through server task selection.
What are the spillover effects when central financial institutions with dominant market shares simultaneously halt their liquidity creation and risk transformation roles? To shed light on this question, we build a novel, comprehensive dataset. Firms without a history of debt financing exhibit limited exposure to a systemic event. For firms that rely on external debt financing, their exposures are mainly driven by pre-existing connections to these central financial institutions.
Factor analysis is a widely used tool to summarize high dimensional panel data via a small dimensional set of latent factors. Applications, particularly in finance, are often focused on observable factors with an economic interpretation. The objective of this paper is to provide a formal test for the question whether the factor spaces of latent and observable (economic) factors are equal.
In business markets, marketing and sales functions often conflict over customer acquisition. Marketers are seen to complain that sales representatives disregard the leads they generate, while sales representatives question the revenue potential of these leads. How should firms resolve such conflicts? We investigate these questions using relatively novel sequential principal-agent models with risk averse agents where asymmetry of information exists regarding leads’ revenue potentials.