Experience Stern | News & Events

Excerpt from Crain's New York Business -- "For Lawrence White, the Robert Kavesh professor of economics at NYU's Stern School of Business, the central issue is the state of the economy, which he sees strengthening over the next two years. And with that improvement, banks' willingness to lend to small business will also increase, both nationally and in New York City."

Excerpt from The Huffington Post -- "'Asking companies to remain neutral is a realistic tactic. The fact that many companies aren't doing it is quite meaningful,' Schenkler continued. 'Corporations are rarely in the forefront of raising banners to change the world.'"

Excerpt from The Wall Street Journal -- "'My father was in the academic world and was also a partner in a merchant bank in Toronto,' [Spence] says. 'He was part academic, part practitioner. He had a very rigorous mind, made sure I learned math as a kid.'"

Excerpt from Barron's -- "Two years ago, Altman and Amsterdam-based professor Herbert Rijken hatched a model that makes a 'bottom-up' prediction of sovereign risk. Their 'Z-Score' model aggregates the average probability of default of listed nonfinancial and financial companies, whose health is central to that of the sovereign. Altman's model correctly predicted Europe's current hierarchy of risk: Spain and Portugal on the bottom, with Italy a bit higher."

Excerpt from Variety -- "Simonoff and colleagues ... looked at Tony wins in what they considered "major categories" -- musical, tuner revival, play, play revival, director and lead actor and actress. Sure enough, they found that each Tony in one of those categories is associated with a 50% longer expected run, while a nom without the win was associated with a 30% longer expected lifespan."

Excerpt from Bloomberg TV -- "Well I think that the European integration has to move quickly and create a guarantee for the deposits of depositors in any European country by the ECB and not by the national banks. Because people will lose credibility. The national banks have lost credibility."

Excerpt from Project-Syndicate -- "Compared to 2008-2009, when policymakers had ample space to act, monetary and fiscal authorities are running out of policy bullets (or, more cynically, policy rabbits to pull out of their hats). Monetary policy is constrained by the proximity to zero interest rates and repeated rounds of quantitative easing."

Excerpt from Fox Business -- "'A decade isn’t very long in human history,' said Richard Sylla, an economist and financial historian at NYU who said the euro can be classified as 'kind of a failure.'"

Excerpt from CNN -- "On Broadway, 'There's that suspension of disbelief that you go in with,' Simonoff added. 'You know it's on a stage. When you watch a movie, there's still some suspension of disbelief, but it feels more jarring when people suddenly burst into song.'"

Excerpt from The Wall Street Journal -- "Assuming that rationality prevails on Sunday, a new Greek government—most likely a coalition government—will recommit to the euro and to Greece's existing debt agreements by the end of the month."

NYU Stern is introducing a new Essay 2 to its full-time MBA application for Fall 2013 applicants, the first major change in the essays in six years. The question will assess an applicant’s fit with the Stern mission and mindset about creating value in an environment of increased ambiguity. The School believes these qualities are essential to lead in today’s global business environment.

Excerpt from The Economist -- "New York University’s Stern Business School is introducing a new essay question for MBA applicants. The school says it is intended to 'assess an applicant’s fit with the Stern mission and mindset about creating value in an environment of increased ambiguity.'"

Excerpt from The Huffington Post -- "If EMU policymakers wish to preserve the euro, they will need a Hamiltonian solution, including both fiscal burden-sharing to halt the crisis and conditionality (or fiscal and financial rules) to prevent another crisis and avoid a persistent wealth transfer to peripheral EMU members."

A new study from Professor Heski Bar-Isaac suggests online hospital rankings may be detrimental to patient welfare.

Excerpt from Harvard Business Review -- "In 2005, Professor Dolly Chugh of the Stern School of Business at New York University and I coined the term "bounded awareness" to refer to the systematic human tendency to fail to perceive and process important information that is easily available to us."

Excerpt from Financial Times -- "In a study last year, academics Thomas Philippon and Ariell Reshef found that during two eras of financial market euphoria – the 1920s and from 2000 onwards – the finance sector paid a “wage premium” of 70 per cent above the private sector average."

Excerpt from Xinhua -- "If the country does not cut government expenditure by a few point percentage points there is a real danger that the country is going to have to ask for help from the European authorities and the IMF. The Italian economy is about 50 percent bigger than Spain so we are talking about serious financial concerns for the EU. I mean, Italy going down can reasonably lead to the Euro one going down."

Excerpt from the Australian Financial Review -- “'Regardless of the direction of causation, the movement of a company’s aircraft to and from a CEO’s vacation residence provides a very visible signal of pending news announcements and silences,' [Yermack] writes in his study, published by the National Bureau of Economic Research."

Excerpt from Reuters TV -- "This is a crucial election for Greece. If it doesn't go right, then Greece could be kicked out of the European Union, could be kicked out of the euro, it could be kicked out of the drachma, and it could be really catastrophic for Greece."

Excerpt from CNBC -- "The German government should give every German household a 1000 euro ($1,250) travel voucher. However, it should only be used for holidays in crisis countries. That will help boost growth there. In addition, everyone who buys a holiday home in a southern European state should get a tax bonus."

Excerpt from The Huffington Post -- "The bottom line should be that if you buy the ticket, you should own it, and be able to do with it as you wish -- use it, resell it or give it away. That is where a secondary market comes in."

Excerpt from Forbes India -- "When Facebook’s share price started tumbling down since its listing two weeks ago, not everyone was surprised. In February, as soon as its numbers became public, Aswath Damodaran, a finance professor at NYU Stern School of Business, valued the company at $72 billion. It made a debut with a valuation of $100 billion, or 100 times its earnings."

Excerpt from WIRED -- "While there are several possible business models for Facebook to create value, each with its potential risk and reward, I propose that Facebook create the world’s first information market."

Excerpt from The Atlantic -- "Economist William Baumol famously observed that it's really hard to make a string quartet more efficient, because it's not feasible to replace the live violinist with a robot or with a cheaper Chinese violinist Skyping in from Shanghai. Similarly, you can't perform 'A Long Day's Journey Into Night' with fewer than four principal actors."

Excerpt from Bloomberg -- "'Even a great banker like James Dimon can’t really manage such a huge operation,' Sylla said. 'They convince themselves that everything is fine because they’re making money.'"