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Market-Based Solutions to Vital Economic Issues

Capital Formation

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The sixth annual conference will convene thought leaders from academics, industry and government to debate the most challenging current issues in the field of entrepreneurship and set the agenda for future research and policy.

This course is a unique opportunity to create a thoughtful roadmap for succession in your family business. Come explore family business continuity challenges and common practices for successfully leading family-owned enterprises. Emphasis is placed on the importance of open, transparent communication in the family; the creation of a shared vision for the business; and the alignment of family and business goals.

Join the Family Enterprise Center and your family business peers to learn how to leverage strategic thinking to achieve your family business goals.

14
Jun
2021

VC University LIVE takes place in emerging ecosystems across the country, providing opportunities to learn about cutting-edge issues in emerging venture finance and connect with local leaders and influencers from Silicon Valley. This year's three-day program will be hosted by the UNC Entrepreneurship Center and the Kenan Institute for Private Enterprise, incorporating lectures and interviews with leading venture capitalists, faculty from the University of California, Berkeley and executives from the National Venture Capital Association.

Kenan Institute Executive Director Greg Brown talks with host Winna Brown of EY’s NextWave Private Equity podcast about how the research he’s involved in as research director of the Institute for Private Capital is helping to predict PE performance.

Join the Urban-Brookings Tax Policy Center and the University of North Carolina Tax Center for a live webinar featuring accounting, law, and economics experts as they discuss the effects of the Biden Administration on corporate tax proposals.

Jeff Hoopes, research director of the Kenan Institute-affiliated UNC Tax Center, weighed in as part of The Washington Post’s coverage of the recent ProPublica report on how America’s wealthiest individuals pay little to no income tax.

Kenan Institute Director of Research Christian Lundblad and UNC Kenan-Flagler Business School Professor Paige Ouimet talk with Capital Tonight’s Tim Boyum to explore the forces and intricacies behind the struggle of businesses to fill open positions during the pandemic economic recovery.

The Private Equity Research Consortium and the Institute for Private Capital (IPC) at the University of Oxford, Saïd Business School will host the 2021 Spring Private Equity Research Symposium on May 27. The Spring Symposium supplements, and will follow the same format as, the long-standing PERC Fall Symposium that takes place each year at UNC. The conference will be held virtually this year for the safety of our members and attendees.

The Biden administration's $2.3 trillion American Jobs Plan comes with a hefty price tag, which the president hopes to pay in part by introducing a 15% minimum tax on corporate book income. Predictably, policymakers from both sides of the aisle are sounding off, but the argument is more complicated and nuanced than partisan rhetoric. In this Kenan Insight, we outline the intricacies and implications of taxing book income.

In a series of influential studies, McKinsey (2015, 2018, 2020) report a statistically significant positive relation between the industry-adjusted EBIT margin of global samples of large public firms and the racial/ethnic diversity of their executives. However, when we revisit McKinsey’s tests using recent data for US S&P 500® firms, we find statistically insignificant relations between McKinsey’s inverse normalized Herfindahl-Hirschman measures of executive racial/ethnic diversity and not only industry-adjusted EBIT margin, but also industry-adjusted sales growth, gross margin, ROA, ROE, and TSR. Our results suggest that despite the imprimatur often given to McKinsey’s (2015, 2018, 2020) studies, caution is warranted in relying on their findings to support the view that US publicly traded firms can deliver improved financial performance if they increase the racial/ethnic diversity of their executives.

Our Capital Formation Experts

Greg Brown

Executive Director, Kenan Institute of Private Enterprise; Sarah Graham Kenan Distinguished Professor of Finance, UNC Kenan-Flagler Business School

Philip Howard

Senior Research Associate

Christian Lundblad

Director of Research, Levin Distinguished Professor of Finance, and Associate Dean of the Ph.D. Program, UNC Kenan-Flagler Business School