Experience Stern | News & Events

Excerpt from The Wall Street Journal -- "Perhaps the most systematic effort to quantify investor exuberance was conducted 20 years ago by Malcolm Baker, a finance professor at Harvard Business School, and Jeffrey Wurgler, a finance professor at New York University.

In research done in the wake of the bursting of the internet-stock bubble, they identified five variables for comparing investor sentiment at different points in time and showing how that relates to stock performance. A composite of those indicators shows that the current market is far less exuberant than in the late 1990s."

Excerpt from VentureBeat -- "Deepfakes are a major concern heading into the U.S. election this November. In a fall 2019 report about upcoming elections, the New York University Stern Center for Business and Human Rights warned of domestic forms of disinformation, as well as potential external interference from China, Iran, or Russia. The Deepfake Detection Challenge aims to help counter such deceptive videos, and Facebook has also introduced a data set of videos for training and benchmarking deepfake detection systems."

Excerpt from InsideHook -- "Dolly Chugh is an award-winning social psychologist at the New York University Stern School of Business, and her research-backed book, 'The Person You Mean To Be: How Good People Fight Bias,' is full of tools about how to stand up for others and change your behavior every day."

Excerpt from Business Insider -- "Milkman calls these costs 'exceptional expenses' that aren't really exceptional at all. The concept, she said, was explored in a 2012 paper by Abigail Sussman, an associate professor of marketing at the University of Chicago Booth School of Business, and Adam Alter, an associate professor of marketing at New York University Stern School of Business."

Excerpt from Yahoo Finance -- "And as NYU Stern School of Business assistant professor of marketing Alixandra Barasch points out, the small advertisers that make up the majority of Facebook’s advertising partners often can’t afford to leave the social network for other outlets. 'They are not going to be able to afford any kind of mass market advertising campaign, so they can’t go to TV, and they don’t want to,' Barasch explained."

Excerpt from Bloomberg -- "The pandemic has done more than gut revenue at retailers. It has disrupted the flow of goods to sales floors and forced the cancellation of high-end fashion shows that influence what styles consumers will buy next year. 'The supply chain is broken, the fashion calendar is no longer in place, and who wants to be out buying designer brands with all the social questions we’re asking ourselves right now?' said Thomai Serdari, who teaches luxury branding and marketing at New York University’s Stern School of Business. 'There’s too much happening at the same time. We have to rethink this industry.'”

Excerpt from Clear Admit -- "Students who choose to come to Stern’s MBA program develop the skills and mindset to embrace and drive change, and immerse themselves in an environment that fosters an entrepreneurial mindset. With our deep ties to industry, they gain access to the organizations and executives leading innovative solutions across global brands, nonprofits and startups throughout their MBA experience. For example, Stern Solutions experiential learning courses and projects give students opportunities to help a corporate partner solve a real business challenge in real time. Past partners have included Citi Ventures, the CFDA and BMW, to name a few. Students can also get involved with Endless Frontier Labs, a program at Stern for early-stage science and technology-based startups who apply from around the world, and through an affiliate course they can have a hands-on, front-row seat to learning how to scale a startup."

Excerpt from Forbes -- "Reflecting the modern role of the chief financial officer, the books these executives read focus on strategy, leadership, and problem-solving. Truly, finance chiefs priorities are making their organizations competitive to judge by their reading selections."

Excerpt from China Daily -- "Robert Engle, 2003 Nobel Prize laureate in Economics and a professor at New York University, made the comment during a video forum organized by the University of Science and Technology of China on Tuesday. The economist said the warning has been made by many scientists and he believes it to be so. He worries that the pandemic could be just a 'dress rehearsal' to more crises. This pandemic is highly associated with a zoonotic virus and with climate warming, such crises may become more frequent as animals migrate, said Engle, before he moved on to his lecture's focus on financial issues."

Excerpt from Yahoo Finance -- "Nouriel Roubini expects the near-term economic recovery from the coronavirus crisis to be relatively weak, the famed economist told Yahoo Finance in an interview, potentially giving way to an even deeper downturn further down the road. Until very recently, investors have been aggressively ramping up expectations of a ‘V-shaped’ rebound — until COVID-19 infections began surging nationwide."

Excerpt from CNBC -- "The question is how many companies ultimately sign up and how long does the boycott go on. If it turns out to be a one-month or even six-month affair, that's not going to bring Facebook to heel necessarily. If it turns out to be something more substantial, then Mark Zuckerberg will feel it in his pocketbook and conceivably make even more significant changes."

Excerpt from CGTN -- "To avoid this scenario, governments should establish mechanisms for large-scale debt restructuring. Tax deferrals and guarantee schemes have made governments creditors to a large number of small businesses. In a paper with Olivier Blanchard of the Peterson Institute and Thomas Philippon of New York University, we propose to let private creditors – primarily banks – know that governments will support decisions to restructure viable companies' debt and will participate in the resulting rescheduling or forgiveness of existing claims. Because governments value the positive impact of businesses' survival on all sorts of stakeholders, they should even let it be known that it will add a "continuation premium" to whatever private creditors do. This could save a lot of jobs."

Excerpt from Stanford Social Innovation Review -- "Financial markets run on the often-unspoken assumption that human beings make perfectly rational decisions that drive capital to the highest-performing enterprises. Indeed, the finance field promulgates an image of dispassionate investors who tirelessly comb through opportunities and seamlessly integrate information to optimize their portfolios."

Excerpt from USA Today -- "Edward Altman, the Max L. Heine professor emeritus of finance at New York University’s Stern School of Business, credits federal government stimulus, saying small business loans, stimulus checks and additional unemployment insurance have allowed people to avoid bankruptcy so far. 'But these measures are only temporary' Altman said. 'At some point, they’ll run out and personal bankruptcies will surge.' In the meantime, Altman believes corporate bankruptcy filings will continue to rise, and that 2020 will prove to be one of the busiest years since the Great Recession – especially for companies with more than $100 million in total liabilities."

Excerpt from CNN -- "Still, David Yermack, a professor at NYU Stern School of Business, argued the Hertz bankruptcy had little to do with its previous private equity ownership. 'It was inevitable that a firm like Hertz, which had grossly over-expanded, would have needed to restructure itself,' Yermack said. 'The rental car industry needed to shrink.'"

Excerpt from MarketWatch -- "Facebook’s change in policy highlights the increased pressure it faces in a nation roiled by pandemic and protests. 'The decision by Unilever to join the boycott of Facebook illustrates that the pressure is likely to increase,' said Paul Barrett, deputy director of the NYU Stern Center for Business and Human Rights."

Excerpt from Town & Country -- "According to Dr. Priya Raghubir, a professor of business at New York University, the reason why it feels “right” boils down to simple psychology—and the hierarchy of human needs. 'At the bottom are very basic needs: food, water, sleep. The next level is safety, then social needs, followed by esteem and self-actualization,' she says. 'In most advanced Western economies, the basic needs of most people are met. But when anything unsettles, like the pandemic, we obsess over the basics and tend to do things like stockpile food and toilet paper. After the immediate threat is assuaged, we begin to ascend the hierarchy again. Now we want to socialize—sending cards and letters help us form connections.'”

Excerpt from Vanity Fair -- "Last week, the Fed announced that it would buy individual corporate bonds, including companies deemed fallen angels since the start of the pandemic, expanding its support for the riskiest branch of debt. Robert Wosnitzer, a professor of finance at New York University’s Stern School of Business, told me that the central bank’s announcement came after it had exhausted traditional tools like lowering interest rates. 'It’s kind of ludicrous to believe that these corporations—after 12 years of having relatively benign policies on the tax level, on the Federal Reserve level, on every single level—that they couldn’t withstand three to five months of hardship,' Wosnitzer said. “It’s insane to think about that. But that’s the world we’re living in.'"

Excerpt from Fast Company -- "I think the work from home trend is a double-edged sword, but it’s mostly good for them. I’m not sure it’s good for their employees. What I think big tech workers fail to realize is that if your job can be moved to Denver, there’s a decent chance it can be moved to Bangalore. I think Mark Zuckerberg’s greed glands are going to say, yeah, by all means, let’s figure out how we can move your job to Chicago. And then we’re going to keep moving it further and further east and cut costs."

Excerpt from FindMBA -- "At NYU Stern School of Business MBA students can join the NYU Startup Online Hub where they can discover and share startup job opportunities with the student body and alumni network. They can also highlight their skills and interests via an individual profile. On the platform students can also ask for help and share advice on working at a startup."

Excerpt from Axios -- "While high-profile "mega-bankruptcies" such as Hertz and J. Crew make headlines, the total number of bankruptcies involving more than $100 million in debt is likely to be substantially lower this year than we saw during the last recession. That's according to NYU business school professor Edward Altman, who sees 192 such filings in 2020, compared with 242 in 2009."

Excerpt from Barron's -- "Aswath Damodaran has taught tens of thousands of students at New York University’s Stern School of Business how to value stocks. Outside of the classroom, he is one of the best-known experts on valuation, and is often the go-to source when reporters are trying to understand how a hot new company can have metrics that seem to defy conventional analysis."

Excerpt from Quartz -- "Advocates say that these and other problems have only intensified as large companies began buying and consolidating nursing home franchises. Around 70% of nursing homes in the US are under for-profit ownership, and, since the 2000s, private equity firms have purchased many facilities, hoping to cut costs and increase profits. One recent analysis, published by the New York University Stern School of Business, found 'robust evidence' that private equity buyouts were linked to 'declines in patient health and compliance with care standards.'"

Excerpt from U.S. News -- "International edge: Stern MBA students who specialize in global business can study emerging financial markets, international social impact strategies and similar topics, according to the school's website."

Excerpt from The Academic Minute -- "Applications of artificial intelligence or “AI”—the use of computer software that relies on highly sophisticated, algorithmic techniques to find patterns in data and make predictions about the future—have grown in number and variety over the past decade. AI is now embedded in many products and services that businesses and consumers use in daily life, including for example internet search and road navigation."