Faculty News

Profs. Matteo Maggiori and Johannes Stroebel's research on long-term investments is highlighted

The Economist logo
Excerpt from The Economist -- "Remarkably, they find that people pay a premium of 10%-15% less for 100-year leaseholds and 5%-8% less for leaseholds of between 125-150 years. Only for leaseholds of 700 years or more do they detect no difference in price. On the whole, they reckon, a discount rate of about 2.6% appears to apply out well beyond a century. Oddly enough, people are willing to part with real money now in exchange for benefit flows accruing well beyond any reasonable expected lifespan. That won't make it any easier to generate the political support for meaningful action to slow climate change. But it does make it harder to justify delay based on the fact that people simply don't care much about the distant future."
School News

Stern's Graduate Convocation speaker, Ajay Banga, President & CEO of MasterCard, is highlighted

Excerpt from Bloomberg Businessweek -- "Ajay Banga, chief executive officer at MasterCard, will speak to MBA’s at NYU’s Stern School of Business on May 22."
Faculty News

Prof. Arun Sundararajan discusses the regulation of Airbnb and the sharing economy

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Excerpt from Fox Business -- "I think fundamentally it's a story of economic growth and technological progress stimulating economic growth. The term 'sharing economy' is sometimes misleading because, at the heart of this, this is pure capitalism. It's markets, it's free markets, it's pricing, it's... people transacting with other people. And so when there's this kind of disruption, special interests or established interests do sort of step in and use what they can to sort of try and make sure that the interests that they have are preserved."
Faculty News

In an op-ed, Prof. Roy Smith predicts the increasing importance of smaller banks

Financial News logo
Excerpt from Financial News -- "Markets will continue to grow. But the key players in it, as they always have, will change. Big, systemically important banks will have their role to play, but a universe of smaller, less-regulated, non-systemic non-banks will be the source of much of the innovation and energy that sustain the markets."
Faculty News

Prof. Scott Galloway on the app as a marketing tool

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Excerpt from AdAge -- "But releasing an app pits brands against the commandeering forces of social media and games. 'Unless you have something that's an incredible application in terms of utility, it's just a tree falling in the forest,' said Scott Galloway, a marketing professor at NYU. 'No one hears it.'"
Faculty News

Prof. David Yermack's research on shareholder meeting locations is cited

Financial News logo
Excerpt from Financial News -- "The study, Evasive Shareholder Meetings by Yuanzhi Li of Temple University and David Yermack of New York University, was published recently by the US National Bureau of Economic Research. It investigated the relationship between where and when US companies held their AGMs in the five years to the end of 2010, and the trends in their share prices in the six months after the meeting. When companies held meetings 1,000 miles away from their headquarters, the average cumulative stock returns over the next six month were -3.7%. For companies that held their AGMs at least 50 miles from their headquarters and 50 miles from a major airport, the average abnormal stock performance over the six month was -6.8%."
School News

MBA student Laura Fox discusses a Stern Signature Project in Mexico City

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Excerpt from Financial Times -- "When Laura Fox decided to go to business school, she chose NYU Stern for one reason: its urbanisation programme. 'Given the scale of urbanisation in the next 40 years, if we don’t get it right now, we are in real trouble,' she says. As she approaches the end of her first year, she is part of a team of three MBA students who are working with academics in the Marron Institute at NYU to help policy makers in Mexico City develop a more liveable city. 'This project is really different,' she says, 'because we are building a business-focused proposal for a policy group.'"
School News

Prof. Paul Romer discusses Stern's focus on urbanization

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Excerpt from Financial Times -- "But there is a more fundamental point, says Prof Romer: should urbanisation be restricted or actively encouraged? He is clear: 'I decided to start working on urbanisation because in developing economies I concluded that the effect of urbanisation was the fastest way for their economies to grow.'"
Faculty News

Prof. Adam Alter's research on pronounceable names is highlighted

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Excerpt from Yahoo! Finance -- "In the second stage of the research, New York University’s Dr Adam Alter studied 500 first and last names of US lawyers. He found that those with the most pronounceable names were promoted faster than their unusually named counterparts, even though they had comparable skills and experience."
Faculty News

Prof. Scott Galloway on fashion brands and Tumblr

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Excerpt from Fashionista -- "'We have seen a great decline in brand presence on Tumblr, which is a negative forward looking indicator for the platform,' Scott Galloway, founder of digital luxury consultancy L2, says."
Faculty News

Prof. Paul Romer's research on innovation is highlighted

Harvard Business Review logo
Excerpt from Harvard Business Review -- "There’s more to progress than technological innovation. Breakthroughs can also result from innovations in management. Past work by another economist, Paul Romer, helps make the point. He explains that the history of progress is a history of two types of innovation: Inventions of new technologies, and introductions of new laws and social norms. We can make new tools, and we can make new rules. The two don’t always march in lockstep. In a period of time where one type of innovation flags, the other type can sometimes forge ahead."
Faculty News

In an op-ed, Prof. Lawrence White argues that mortgage finance should be privatized

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Excerpt from CNBC -- "It is now more than five years since Fannie Mae and Freddie Mac were ignominiously put into conservatorships and became wards of the U.S. government — at a cost of $188 billion. They have continued to function during these five-plus years, and have even become profitable again. But it is long past time to give them a decent burial — and also to make sure that clones don't spring up to replace them."
School News

HireCanvas, winner of Stern's 2013-14 Entrepreneurs Challenge, is featured

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Excerpt from Poets & Quants -- "More than anything I’m grateful for the amount of resources that the Entrepreneurs Challenge—and NYU—afforded us. Everything imaginable that you need to get your business going—a framework, mentors, continual feedback—they gave us. I can’t say enough about the coaches, mentors, judges, and all the people we were introduced to throughout the process. As first-time entrepreneurs, they were incredibly helpful and always willing to share their time. So even if we would have lost, it still would’ve all been worth it."
Faculty News

In an op-ed, NYU Global Research Prof. Ian Bremmer discusses political conflict in China

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Excerpt from TIME -- "Here’s why there is good reason to be confident that China will do well over the next year or so: The leadership under Xi Jinping has actually engaged in transformational economic reform without the specter of urgent crisis. Leaders rarely undertake difficult projects when circumstances don’t absolutely force their hand (and even then, those responses begin to recede along with the threat itself). That’s what we saw with the Eurozone sovereign debt crisis, and with financial reform in the U.S."
Faculty News

Prof. Luke Williams emphasizes the importance of innovation in a keynote speech at ISPA EXPO

Excerpt from BedTimes Magazine -- “'Any organization that’s only embracing incremental change is in a dangerous position,' said Williams. 'That path is getting narrower and narrower, until at the end, the customer has forsaken you for someone else that you didn’t even see coming.'”
Faculty News

Prof. Nouriel Roubini's comments at the SALT hedge fund conference are highlighted

Fortune logo
Excerpt from Fortune -- "Roubini said the European Union and the Euro were looking a lot stronger than a year ago. He also said 'Abenomics' appears to be working in Japan, and the risk of a recession has receded there. But the biggest improvement, Roubini thought, is taking place in the U.S. The deficit has shrunk and Washington appears to have called a truce."
School News

Assistant Dean Paula Steisel Goldfarb is interviewed about Stern's Loan Assistance Program

Excerpt from Idealist.org -- "NYU’s Stern School of Business, in partnership with its Social Enterprise Association MBA club, established the school’s Loan Assistance Program. The program seeks to reduce the financial burden of repaying business school loans for MBA graduates who pursue nonprofit, government, or social enterprise career paths. ... A Loan Assistance Program helps enable students to think early—and seriously—about pursuing career paths that support positive change."
Faculty News

Prof. Arun Sundararajan on Airbnb's legal fight in New York

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Excerpt from The New York Times -- "Even as the case continues, Arun Sundararajan, a professor at New York University’s Stern School of Business, said he would like to see Airbnb and lawmakers find a way to come up with [a] new set of guidelines that distinguish between occasional users of the service and those who are doing it on a much larger scale with multiple apartments. 'We need a new regulatory framework that is reasonable and inclusive of providing this new form of short-term accommodation commercially,' he said."
Faculty News

In an op-ed, NYU Global Research Prof. Ian Bremmer reflects on US involvement in Ukraine

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Excerpt from Reuters -- "If the United States' primary goal has been to keep violence in Ukraine and tensions between outside powers to a minimum, it has made a series of significant missteps. The United States failed to offer real economic support to the Ukrainian government before events reached a crescendo."
Faculty News

Prof. Jonathan Haidt's book, "The Righteous Mind," is referenced

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Excerpt from The Huffington Post -- "In The Righteous Mind: Why Good People Are Divided by Politics and Religion, Haidt explains, 'Intuitions come first, strategic reasoning second.'"
School News

Director of MBA Admissions Rabia Ahmed shares tips for waitlisted applicants

Excerpt from TopMBA -- "The MBA admissions committee has seen strengths in your application, but there may be ways to improve your candidacy. We are looking for people who have the personal initiative to improve themselves. We provide detailed information about what we evaluate and why on our website. We are looking for the kind of person who can take that information, do a self-assessment and take appropriate action."
Faculty News

Prof. David Backus explains why the GDP isn't the best way to evaluate the economy in the short-term

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Excerpt from US News -- "'The GDP – its bottom-line, short-term estimates are incredibly noisy, and for that reason, people tend to see the GDP recovers more quickly than employment, so that hasn’t served so well,' Backus says."
School News

Assistant Dean Paula Steisel Goldfarb discusses the MBA admissions process

Excerpt from Admit1MBA -- "We recognize that our New York City location is attractive to many applicants, and we offer many opportunities for applicants to visit us and engage with our community – from our fall class visit program, to our new Future of Business series with faculty to special interview days in the winter and spring. Through our personal and thorough admissions process, which includes an interview for all admitted applicants, we assess an applicant’s fit with our program."
Faculty News

Visiting Prof. Pankaj Ghemawat's research on Fortune 500 CEOs is cited

Excerpt from The Economist -- "Pankaj Ghemawat, of Spain’s IESE and NYU’s Stern business schools, calculates that only 12% of the world’s Fortune Global 500—the largest corporations by revenue—are led by a CEO who hails from a country other than the one in which the company is headquartered."
Faculty News

Prof. Luke Williams on Apple's possible purchase of Beats

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Excerpt from Fox Business -- "I think it's actually a perfect fit. I see complete synergy between the brands because, when you think about it, the actual guy who designed the headphones used to be the head of design at Apple... People have to stop thinking about Apple as a technology company now and start thinking of them as a fashion and a lifestyle brand... They're also the disruptors... they wouldn't go and acquire someone who's just copied them. And if you look at what Beats did, they're the complete opposite to Apple. So Apple's coming out with these little light headphones, they came out with these big heavy bass headphones. Apple was coming out with something very subtle you hardly see, they were coming out with something very obvious."