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Market-Based Solutions to Vital Economic Issues


Kenan Institute 2024 Grand Challenge: Business Resilience
Market-Based Solutions to Vital Economic Issues



The Kenan Institute and UNC Kenan-Flagler Business School’s inaugural Conference on Market-Based Solutions for Reducing Wealth Inequality on June 1-2 highlighted research on market mechanisms that might also work to ameliorate inequality.

A panel recap from last month's Future of Digital Assets Symposium analyzed how fintech may be able to help create a more inclusive financial system.

Digital assets' highs and lows of 2022 served as a backdrop for a two-day event in Washington, D.C., hosted by UNC’s Rethinc. Labs, an initiative of the Kenan Institute of Private Enterprise, in partnership with the Milken Institute and Duke University’s Fuqua School of Business.

Thought leaders, policymakers, business leaders, experts, government officials, researchers, scholars and other key stakeholders convene for a two-day event focused on the latest issues impacting the fintech ecosystem.

Reliably detecting insider trading is a major impediment to both research and regulatory practice. Using account-level transaction data, we propose a novel approach. Specifically, after extracting several key empirical features of typical insider trading cases from existing regulatory actions, we then employ a machine learning methodology to identify suspicious insiders across our full sample.

What is a stablecoin, and why did the one known as TerraUSD break the buck and crash? Kenan Institute Chief Economist Gerald Cohen moderates this timely crypto conversation with University of California-Berkeley Haas School of Business Professor Christine Parlour, UNC Kenan-Flagler Business School Professor Eric Ghysels and Chief Revenue Officer Michael Coscetta of Paxos.

On Tuesday, March 29th, First Citizens Bank Vice Chairwoman Hope Bryant joined UNC Kenan-Flagler Business School Dean Doug Shackelford for a fireside chat. Bryant discussed the history of First Citizens Bank, the impacts of COVID-19 on the workforce and her experiences as a woman in a leadership position.

Certification by analysts on a FinTech platform that harnesses the “wisdom of crowds” is associated with successful initial coin offerings (ICOs). We show that favorable ratings by a group of analysts with diverse backgrounds positively predict fundraising success and long-run token performance. Analysts’ ratings also help detect potential fraud ex ante. We document that analysts have career concerns and are incentivized by the platform to issue informative ratings. Overall, our results suggest that a market-based certification process that relies on a diverse group of individuals is at play in financing blockchain startups.

Cryptocurrency has its critics, but it’s becoming an increasingly mainstream option for retail and institutional investors alike. In this Kenan Insight, we share some thoughts from former Co-president of Morgan Stanley Zoe Cruz and Rethinc. Labs Faculty Director Eric Ghysels on whether crypto has reached a tipping point for adoption by individual investors.

Join us to hear Dr. Daniel J. Egger present his findings from his work in the Quantum Technologies group at IBM Research in Zurich. His research focusses on the control of quantum computers and on the practical applications of quantum algorithms in finance.

Join us for our next discussion as Isaiah Hull, a Senior Economist with Sweden’s Central Bank introduces quantum money and highlights the common misconceptions about what is achievable with quantum computing in economic models.

Artificial intelligence, or AI, enhancements are increasingly shaping our daily lives. Financial decision-making is no exception to this. We introduce the notion of AI Alter Egos, which are shadow robo-investors, and use a unique data set covering brokerage accounts for a large cross-section of investors over a sample from January 2003 to March 2012, which includes the 2008 financial crisis, to assess the benefits of robo-investing. The man versus machine comparison allows us to shed light on potential benefits the emerging robo-advising industry may provide to certain segments of the population, such as low income and/or high risk averse investors.