Research


The Carrot and the Stick: Leveraging Strategic Control for Growth

June 15, 2019
Book

In today’s world of interconnected and "always-on" information, companies that succeed are those that compete by leveraging the advantage of strategic control points. A strategic control point is a part of a market where, if controlled by one party, it can be used to leverage power elsewhere. This can occur throughout the supply chain, in a related business, or even in an unrelated market.

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Why Managers Do Not Seek Voice from Employees: The Importance of Managers’ Personal Control and Long-Term Orientation

April 04, 2019
Article

Voice, or employees’ upward expression of challenging but constructive concerns or ideas on work-related issues, can play a critical role in improving organizational effectiveness. Despite its importance, evidence suggests that many managers are often hesitant to solicit voice from their employees.
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Psychic Distance And Performance Of MNCs During Marketing Crises

April 01, 2019
Article

When multinational corporations face foreign marketing crises, the psychic distance between the home and host country represents a distinct challenge. This paper examines the curvilinear relationship between psychic distance and firm performance during marketing crises, and the moderating role of marketing capabilities. More

Making Only America Great? Non-U.S. Market Reactions to U.S. Tax Reform

March 30, 2019
Working Paper • UNC Tax Center

We examine U.S. tax reform’s effect on foreign firms’ stock returns. Examining key tax reform events, we find little average foreign firm market reaction to tax reform. However, this average effect masks great heterogeneity by country, industry, and firm. More

Private Equity Net Asset Values and Future Cash Flows

March 26, 2019
Working Paper

This paper 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. Findings reveal that Buyout funds' NAVs display little systematic bias, but VC funds' NAVs are relatively aggressively biased compared to Buyout funds, especially since 2000. More

Predictive Analytics And the Changing Manufacturing Employment Relationship: Plant Level Evidence From Census Data

March 14, 2019
Working Paper

We examine trends in the use of predictive analytics for a sample of more than 25,000 manufacturing plants using proprietary data from the US Census. Comparing 2010 and 2015, we find that use of predictive analytics has increased markedly, with the greatest use in younger plants, professionally-managed firms, more educated workforces, and stable industries. More

Falling Not Far from the Tree: Entrepreneurs and Organizational Heritage

March 13, 2019
Article • CREATE

Past research has shown that founders bring important capabilities and resources from their prior employment into their new firms and that these intergenerational transfers influence the performance of these ventures. However, we know little about whether organizational practices also transfer from parents to spawns, and if so, what types of practices are transferred? Using a combination of survey and registrar data and through a detailed identification strategy, we examine these two previously unaddressed questions. More

Maintaining Continuity In Service: An Empirical Examination Of Primary Care Physicians

March 11, 2019
Working Paper

In many service operations, customers have repeated interactions with service providers. This creates two important questions for service design. First, how important is it to maintain the continuity of service for individuals? Second, since maintaining continuity is costly and, at times, operationally impractical for both the organization (due to potentially lower utilization) and providers (due to high effort required), should certain customer types, such as those with complex needs, be prioritized for continuity? More

2019 Frontiers of Entrepreneurship Conference

March 11, 2019
Conference Proceeding

On January 31 and February 1, 2019, the Frank H. Kenan Institute of Private Enterprise (Kenan Institute) hosted its Frontiers of Entrepreneurship Conference at The Breakers Palm Beach Resort. The conference brought together more than 150 academic research scholars, policy experts and private sector professionals to discuss and debate the most challenging current issues in the field of entrepreneurship in order to set the agenda for future research and policy. More

Local Prior Employment and Ecosystem Dynamics

March 11, 2019
Article • CREATE

This article utilizes a unique database (PLACE, the PLatform for Advancing Community Economies) to explore relationships between founders’ prior work experiences and the outcomes of their entrepreneurial firms. More