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Market-Based Solutions to Vital Economic Issues

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Market-Based Solutions to Vital Economic Issues

Technology, Innovation & Strategy

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Please join us for a virtual exclusive conversation with Prime Video and Amazon Studios Chief Marketing Officer Ukonwa Ojo. This discussion is part of the Dean’s Speaker Series, hosted by Kenan-Flagler Business School Dean Doug Shackelford.

Given the surge of COVID-19 cases across the country and for the safety of all, we have decided to cancel in-person attendance and make the 2022 Frontiers of Entrepreneurship Conference available to all virtually. 

We build a financial intermediation model wherein bank and fintech intermediaries compete or partner within frictional credit markets. The model explains the emergence and coexistence of three forms of lending associated with: (i) standalone banks, (ii) standalone fintechs, and (iii) bank-fintech partnerships.

We study the optimal algorithm decisions of a platform on ranking products sold by sellers--who may use fake sales to boost the rankings of their products--and the impact on consumers and sellers. We design a model of an online retail marketplace with competing sellers. We show a platform may strategically tolerate or even encourage popularity-boosting fake sales by a seller when the seller's quality level is extreme relative to competitors.

Our field study of craft brewers in North Carolina details the influence of founding conditions and location on scaling choices for craft businesses.

This webinar, which provides 2.0 CPE credits, is the fourth in a series of tax policy webcasts jointly hosted by the Kenan Institute-affiliated UNC Tax Center and the AICPA. It will feature panelists from practice and academia who will help unravel the mysteries of blockchain and its practical implications on accounting and business.

Much research finds evidence of a “founder premium” – i.e., that founder leadership is positively associated with both the valuations and stock performance of public firms. However, this empirical finding is puzzling as it appears mismatched with management theory suggesting that leadership styles and capabilities must change as a firm evolves and becomes more complex. Motivated by this disconnect, we re-examine the founder premium in public firms. We find that a valuation premium is associated with founder leadership at IPO, but that it quickly disappears as these firms underperform on the secondary market. Our findings also indicate that the premium associated with having a founder-CEO declines more rapidly relative to the premium associated with having a founder in a non-CEO position. Together, our results provide needed boundary conditions for the founder premium and offer a stronger theory/data fit by underscoring how managerial capabilities must be updated as firms grow and develop.

We present a mathematical modeling approach that determines the optimal allocation of care manager's time and quantifies the costs and benefits of Collaborative Care. In particular, we model Collaborative Care management at the clinic level as an infinite horizon Markov Dynamic Program. The objective is a weighted sum of total patient QALYs and the clinic profits. The model incorporates insurance payment, resource utilization costs, and disease progression of comorbid diabetes and depression. We derive structural properties of the optimal allocation of the care manager's time. Using these structural properties, we develop a practical and easy-to-implement solution approach that performs close to the optimal solution. We calibrate the model with data obtained from a large academic medical center and show that our solutions could potentially improve total QALYs and clinic profits when compared to current practices. We also perform sensitivity analysis to different payment models to derive insights relevant to healthcare policy.

Research and practice suggest that co-founded ventures outperform solo-founded ventures on average. Yet, little work has explored the conditions under which solo founding might be possible or even preferable to co-founding. Combining an inductive case-oriented analysis with a Qualitative Comparative Analysis of 70 new entrepreneurial ventures, we examine why and how solo founders can be as successful as their peers in co-founded ventures. We find that successful solo founders strategically use a set of co-creators rather than co-founders to overcome liabilities, retain control, and mobilize resources in unique and unexpected ways. A primary contribution of this paper is an emergent configurational theory of entrepreneurial organizing. Overall, we reveal the broader significance and theoretical importance of adopting a configurational lens for both practitioners and scholars of entrepreneurship.

Firms’ use of SPACs to go public has increased dramatically, leading to market and regulatory debate about their use of projections. Examining SPAC mergers from 2004 through 2021, we find that 80% of firms provide projections for four years ahead on average, with approximately one-quarter of recent projections extending more than five years. For the sample of SPAC mergers with observable post-merger revenue, we find that only 35% of firms meet or beat their projections. This proportion declines for forecasts that are longer horizon, and non-serial SPAC sponsors miss forecasts by greater percentages. When we compare SPAC projected revenue growth to benchmark samples of IPO firms and matched firms, the SPAC projections are approximately 3 times larger on average than benchmark firms’ actual revenue growth, with even greater differences for long-term projections. After the merger, firms reduce their use of projections, providing them at statistically similar rates as benchmark firms. Overall, the evidence supports concerns that the SPAC merger includes highly optimistic projections.

The 2021 UNC Business of Healthcare Conference will explore how to move forward as leaders, future leaders and consumers of healthcare amid such uncertain times. Panels and speakers will address business challenges and opportunities, with a specific emphasis on how to lead through change.

Please join us for an exclusive conversation with Kindbody Founder and CEO Gina Bartasi on Friday, Nov 5. This virtual experience is part of the Dean’s Speaker Series, hosted by UNC Kenan-Flagler Business School Dean Doug Shackelford.

Our Technology, Innovation & Strategy Experts

Barry Bayus

Professor of Marketing

    Chris Bingham

    Professor of Strategy and Entrepreneurship, Phillip Hettleman Distinguished Scholar and Area Chair of Strategy and Entrepreneurship, UNC Kenan-Flagler Business School

    Eric Ghysels

    Edward Bernstein Distinguished Professor of Economics and Professor of Finance, Faculty Director of Rethinc. Labs

      Vickie Gibbs

      Executive Director, UNC Entrepreneurship Center

      Tarun Kushwaha

      Associate Professor of Marketing

      Lauren Lu

      Associate Professor of Operations

      Mahka Moeen

      Associate Professor of Strategy and Entrepreneurship, UNC Kenan-Flagler Business School

      William Putsis

      Professor of Marketing, UNC Kenan-Flagler Business School and Rethinc. Labs Fellow

      Albert H. Segars

      PNC Distinguished Professor of Strategy and Entrepreneurship, UNC Kenan-Flagler Business School

      Donghwa Shin

      Assistant Professor of Finance, UNC Kenan-Flagler Business School

      Nur Sunar

      Assistant Professor of Operations

      Jayashankar M. Swaminathan

      GlaxoSmithKline Distinguished Professor of Operations, UNC Kenan-Flagler Business School

      Chris Wicher

      AI Research Fellow, Kenan Institute of Private Enterprise; former Director of AI Research, KPMG AI Center of Excellence; Vice President, Watson Engineering, IBM