Hartford Business Journal– UConn’s fundraising arm announced Friday it named a recently retired global distribution executive as its interim chief executive to succeed outgoing CEO and President Joshua R. Newton.
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Professor Emeritus Gary Powell Earns International Recognition
Professor Emeritus Gary Powell will be recognized by the Family Firm Institute as the recipient of a 2018 Academic and Family Business Review Award at a global conference in London in October. Continue Reading
Foundation Reports Record Fundraising Year
UConn Leads Nation in Data Privacy Training
The University of Connecticut is only the eleventh organization in the nation, and the first institution of higher education, to be certified to offer training for Data Protection Officers in the wake of the European Union’s new data privacy regulations. Continue Reading
Beleaguered Purdue Pharma Makes Leadership Changes
Study: Faster Internet Not a Boon to All of CT
Hartford Business Journal– Government officials in a number of Connecticut cities and towns have long wanted to broaden access to faster internet speeds to spur economic development and make their local communities more attractive places to live and work.
Mobile Sense Technologies Wins U.S. Patent, $225K from NSF
SF Gate– Mobile Sense Technologies, Inc. (Mobile Sense) today announced it has been issued an additional patent from the USPTO, bringing the company’s issued patent portfolio total to 12.
Young Gun Banker Breaking the Mold to Become New York Mortgage Maestro
Real Estate Weekly– At 36, Ace Watanasuparp is on top of the world.
A vice president at Citizens Bank, the 12th largest retail bank in the country, he is also a co-owner of eight restaurants in New York City, became president of Douglas Elliman’s DE Capital Mortgage when he was 31, and was the first Asian-American walk-on basketball player at the University of Connecticut in 2000.
The Effect of Institutional Ownership Types On Innovation and Competition
Harvard Law School Forum on Corporate Governance and Financial Regulation– In common ownership, the type of the common owner institution matters. Institutional ownership of firms has seen a marked rise in the past few decades, with average institutional ownership share of a firm rising from 20% to 30% in the 1980s to over 65% of the total by the 2010s, with residual retail ownership correspondingly falling from 80% to less than 35% of the firm. (See Borochin, Paul, and Jie Yang (2017). The Effects of Institutional Investor Objectives on Firm Valuation and Governance, Journal of Financial Economics 126.) Over the same period, the fraction of the average firm held by institutions holding blocks of same-industry rivals has risen from 4.5% to 28%. (See He, Jie, J. Huang, 2017, Product Market Competition in a World of Cross Ownership: Evidence from Institutional Blockholdings, The Review of Financial Studies 30.) This not only changes the portfolio properties of the institutional investors, but also has the potential to change the corporate strategies of held firms. Recent studies find opposing effects of common institutional ownership on the competitive behavior of firms: