The Kenan Institute announces the publication of “The New Oxford Handbook of Economic Geography,” edited by Gordon L. Clark, Maryann P. Feldman, Meric S. Gertler and Dariusz Wójcik. Feldman is the S.K. Heninger Distinguished Professor of Public Policy at the UNC College of Arts & Sciences, and a professor of finance at Kenan-Flagler Business School.
The goal of this paper is to conduct a survival analysis to determine the causal impact of federal R&D subsidies on firms’ long-term survival.
This study analyzes whether fair value estimates of fund net asset values (NAVs) produced by private equity managers are accurate and unbiased predictors of future discounted cash flows (DCF). We exploit the fact that private equity funds have finite lives to compare reported NAVs to DCFs based on realized cash flows for 384 venture capital (VC) funds and 195 buyout funds spanning 1988-2016.
When large firms are in search of new leadership, oftentimes a former leader is the answer. There have been many high-profile examples of boomerang CEOs being both resounding successes and spectacular failures. So what do the numbers say?
The last 20 years have been a period of tremendous growth for the PE industry. From its roots in the 1970s and 80s in the buyout and venture capital spaces, private capital has expanded dramatically in both scope and scale. Funds have gotten larger, the investor pool has broadened and the largest players have transformed themselves into fully diversified alternative asset managers, with offerings across a wide range of geographies and asset classes.
During the past 40 years, the income gap between top and bottom earners has expanded exponentially, with the top 1% controlling about 20% of national income and the bottom 50% holding less than 13%. In this Kenan Insight, we examine the role of two factors contributing to regional inequalities in the U.S and Europe: job automation and telecommuting.
With consumer prices rising for a third straight month in June, consumer demand continuing to outstrip supply and stock valuations well above long-term averages, our experts explore whether the so-called “everything bubble” of asset prices could be set to burst – and examine what’s next for investors and firms.
Does the quality of startups increase when the quantity drops? Does entrepreneurial experience help or hurt a corporate job candidate? Do diverse teams make for better startups? The 2022 Trends in Entrepreneurship report brings together our global network of affiliated experts to address these questions and more – with key findings highlighted in this week’s insight.
Much has been made about the labor force participation rate, or the percentage of Americans over 16 who are working or actively looking for work — and for good cause, given the number of unfilled vacancies at U.S. firms. If fewer Americans are working, it is going to be harder for firms to staff all of their openings. Currently, 62.2% of adult Americans are working or looking for work. This compares with a historical average of 63.9% in 2019. With 259 million adult Americans, this 1.7 percentage point decrease in the labor force participation rate translates to a missing 4.4 million workers. And the narrative to date has primarily focused on how many Americans made changes following the COVID-19 pandemic (in response to lockdowns, layoffs, health concerns or care responsibilities) and the sizable fraction of these Americans who are still sitting on the sidelines. Given the steady drumbeat of news about how firms are unable to fill all their positions, there is much interest in how and when we expect these workers to return to the labor force. So, when can we expect them to join the labor pool?
Unions seem to be popping up everywhere these days. In fact, the National Labor Relations Board reported that requests for union elections during the last nine months are up 58% over the prior fiscal year. This trend has received significant coverage in the media, with particular interest in successful organization efforts at Amazon, Starbucks and Apple.
Successful initial public offerings (IPOs) provide firms with access to valuable resources, but also put pressure on firms to impress potential investors with evidence of their current well-being and prospects for future growth.
Please join us for a talk by Josh Lerner, a Kenan Institute Distinguished Fellow, who will be discussing the unprecedented explosion of venture capital activity worldwide and what was behind this dramatic surge of activity.
Recognizing that initial public offerings (IPOs) represent the debut of private firms on the public stage, this study investigates how pre-IPO customer and competitor orientations (CCOs) affect IPO outcomes.
In just eight years, 20 percent of all North Carolinians will be 65 or older. Nationwide there are now more Americans in the 65-plus age group than at any other time in U.S. history – with those 85 and older the fastest-growing segment. The Frank H. Kenan Institute of Private Enterprise will shine light on the implications of this demographic shift at the "Business of Health Care: Adapting to an Aging Economy conference" on Oct. 27 at the Kenan Center in Chapel Hill.
Greg Brown, director of the Frank Hawkins Kenan Institute of Private Enterprise, was honored today as part of CNBC’s Disruptor 50 event at the Nasdaq Entrepreneurial Center in San Francisco.
Join us for an afternoon with Chairman, CEO and Co-Founder of Blackstone, Stephen A. Schwarzman. Mr. Schwarzman is an active philanthropist with a history of supporting education and schools. Whether in business or in philanthropy, he has always attempted to tackle big problems and find transformative solutions.
The Kenan Institute of Private Enterprise welcomed Key Square Group Founder, CEO and CIO Scott Bessent on Wednesday, March 7, to have lunch with its Kenan Scholars and field questions about hedge fund management, economics education and starting an investment career.
The makers of a synthetic fiber made from recycled plastic bottles and the co-founder of a venture capital firm that focuses on green sectors are the recipients of the 2018 UNC Sustainability Awards, presented on May 10 at The Carolina Club in Chapel Hill.
A highlight of this semester for the Kenan Institute’s Kenan Scholars was their recent lunch and learn with UNC Kenan-Flagler Business School Dean Doug Shackelford.
Kenan Institute Senior Faculty Fellow Maryann Feldman has been chosen as the 2018 Wiley TIM Distinguished Scholar by the Technology and Innovation Management Division (TIM) of the Academy of Management (AoM). The award will be presented to Feldman during a luncheon at the annual TIM conference in Chicago in August.