Faculty News

Prof. Nicholas Economides on the European Central Bank's stimulus programs

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Excerpt from CCTV -- "I think [Mario Draghi] will act. He said he's expected to buy assets. He hasn't said he's going to buy something specific, but he says he is expected to, and he also said that it's a unanimous decision. So he's pushing in that direction, but I think that there is resistance from Germany, and we'll see how it turns out. We're not sure."
Faculty News

Prof. Edward Altman's research on Chapter 11 bankruptcy is cited

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Excerpt from The Wall Street Journal -- "Through data collected from 1984 to 2013, New York University Professor Edward Altman found two factors are most indicative of a debtor filing again: its profitability upon its first emergence and its leverage. The data reveals that for recidivist debtors, their financial profiles upon exiting their first bankruptcy tended to resemble that of other firms as they entered bankruptcy—namely too much debt and too much leverage. This data supports what restructuring professionals have experienced anecdotally. Sometimes a plan is premised on the best available recapitalization structure, which is not necessarily the right structure."
Faculty News

The DHL Global Connectedness Index, coauthored by Prof. Pankaj Ghemawat, is featured

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Excerpt from The Atlantic -- "The index finds that globalization began deepening once again last year after reaching a post-crisis plateau in 2012—but it’s far from the deeply connected world sold by globalization advocates."
Faculty News

Prof. Richard Sylla discusses corporate morality and his paper on the shareholder vs. stakeholder model, co-authored with Prof. Ralph Gomory

Excerpt from Wealthtrack -- "In the seventies, [American corporations] had a lot of competition. Globalization was a factor in making corporations, for the first time in some decades, have a lot of international competition. And they suffered a little bit from that. And I think then, as they were suffering, academics said, oh, the corporations really need to do a better job and the way to do it is, picking up on Milton Friedman, they should focus on maximizing shareholder value. They shouldn't do all these other things. They shouldn't think about the workers that much, or the suppliers or the community. Just maximize profits. And this was an academic thing. I'm an academic. I saw it happen."
Press Releases

New Research Finds that Special Interest Lobbying Does Influence NIH Research Funding

Deepak Hegde
In a new study, NYU Stern Professor Deepak Hegde and Bhaven Sampat of Columbia University investigate whether lobbying by special interest groups affects funding for research by the National Institutes of Health (NIH), a publicly funded federal agency and the world’s largest funder of medical research – nearly $30 billion each year.
Faculty News

Profs Sam Craig and Al Lieberman discuss Warner Bros. and Marvel Studios's recent movie franchise announcements   

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Excerpt from Marketplace -- "'Teaser marketing' has become the norm, Lieberman says. Those teases, trailers, viral marketing, piecemeal cast and crew announcements are coming earlier, thanks to the web and the crowded comic book movie market. 'They’re saying, "Look, don’t worry, don’t start shifting allegiances, because we’re coming with these movies every year for the next five-year period,"' Craig says."
Faculty News

Prof. Aswath Damodaran's blog post on stock-based employee compensation is featured

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Excerpt from Yahoo! Finance -- "Aswath Damodaran, professor at New York University Stern School of Business and an expert in equity valuation, nicely dismantled the idea that equity comp is not an expense in this February blog post, which uses Twitter as a case study."
Faculty News

Prof. Nouriel Roubini explains why he believes India might outpace China in economic growth

Excerpt from Bloomberg -- "In the next decade, it could be the first time in 30 years that India is growing faster than China because China... has a movement from capital-intensive to labor-intensive growth. So growth in China could go towards 5% in the next few years, while India, with the right reform, could go towards 7%. So for the first time ever, the tortoise becomes the hare and the hare becomes the tortoise."
Faculty News

Prof. Jacob Jacoby on the trademark dispute between Disney and Deadmau5

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Excerpt from Marketplace -- "'There are a number of thing that’ll confuse people,' says Jack Jacoby, professor of marketing at NYU's Stern School of Business who says he is involved in 30 or 40 trademark disputes per year. In the case of Disney vs. Deadmau5,  Jacoby says the confusion case boils down to what’s in the mind of the person who picks a mau5head t-shirt off the rack-and whether they'll think the Deadmau5 item was made by, affiliated with or allowed by Disney. 'Disney’s saying "Wait, people may think that this comes from us,"' says Jacoby."
Faculty News

Prof. Scott Galloway discusses the growth of different social media platforms

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Excerpt from WWD -- "'They [Facebook, YouTube, Instagram] seem to be pulling away and starting to suck the oxygen out of the room for everyone else,' Scott Galloway, New York University marketing professor and cofounder of L2, told WWD. Twitter, which was among the top three platforms in last year’s study along with YouTube and Facebook, saw a complete flip, according to Galloway. He called it the 'most overvalued company' — surprised that despite being valued at $25 billion, more than Clorox, Coach and Abercrombie & Fitch combined, Twitter still has flat user growth."
Faculty News

Prof. Deepak Hegde's research on the impact of lobbying on NIH funding is featured

Excerpt from Nature -- "Advocates for patients with rare diseases spend millions of dollars lobbying the US Congress each year — and it is money well spent, an economic analysis has found. Between 1998 and 2008, such efforts helped to increase new funding for rare-disease programmes by 3–15% each year at the US National Institutes of Health (NIH), according to a report to be published in Management Science (D. Hegde and B. N. Sampat Mgmt Sci. http://doi.org/fzs2vx; 2014)."

 
Faculty News

In a co-authored op-ed, Prof. Pankaj Ghemawat discusses his research on globalization

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Excerpt from Harvard Business Review -- "The 2014 DHL Global Connectedness Index that one of us (Ghemawat) prepares with Steven Altman, and that was released on November 3, indicates that global connectedness started to deepen again in 2013 after its recovery stalled in 2012. In other words, there’s now a higher volume of information, capital, people, and trade flows between countries."
School News

Stern's Mindfulness in Business initiative is highlighted in an op-ed by Arianna Huffington

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Excerpt from The Huffington Post -- "...Caitlin Weaver, who just launched the NYU Mindfulness in Business Initiative -- a collaboration between NYU's Stern School of Business and Global Spiritual Life at NYU -- shared how 130 students came to the launch event, and how there's been an outpouring of interest for a faculty mindfulness program as well."
Faculty News

Dean Geeta Menon will be recognized by the Indian American Kerala Cultural and Civic Center for Outstanding Contribution in Education

Excerpt from The American Bazaar -- "Recognition for Outstanding Contribution in Education – Dr. Geeta Menon: she is the 11th Dean of the Undergraduate College at NYU’s Leonard N. Stern School of Business and the Abraham Krasnoff Professor of Global Business and Professor of Marketing. She is a respected educator at the graduate and undergraduate levels, and has mentored many doctoral students who have gone on to become faculty members at top schools, including the University of Chicago, Cornell University and Dartmouth University."
Faculty News

Profs Alexander Ljungqvist and Matthew Richardson's research on private equity investments is cited

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Excerpt from US News & World Report -- "The reality, according to a 2003 paper, 'The cash flow, return and risk characteristics of private equity,' by Alexander Ljungqvist and Matthew Richardson, is quite different. It can take between eight and 10 years for the internal rate of return of private equity funds to turn positive and eventually exceed the returns of listed stocks. Relatively few investors understand the patience required to reap these returns."
Faculty News

Prof. Thomaï Serdari on French luxury brands' Rêver2074 campaign

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Excerpt from Luxury Daily -- "'[This] campaign is not about engaging with consumers. It is about inspiring consumers, teasing them, making them get curious, igniting interest,' said Thomaï Serdari, Ph.D. brand strategist and adjunct professor of marketing at New York University, New York. 'After all, luxury, especially in such conceptual form and not as a product to be displayed and acquired, is a top-down reality.'"
Faculty News

Prof. Prasanna Tambe discusses the IT labor market

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Excerpt from WIRED -- "'IT work is not strictly siloed away from the rest of the organization anymore, so it’s becoming harder to think of it in this geographically separate way,' says Prasanna Tambe, an associate professor at NYU’s Stern School of Business, who researches the IT workforce."
Faculty News

In an op-ed, Prof. Pankaj Ghemawat explains his research on India's global connectedness

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Excerpt from Economic Times -- "It would be irresponsible to answer in favour of more or less globalisation without first having a clear understanding of how globally-connected India is. On November 3, the DHL Global Connectedness Index 2014 was released. This provides a unique 3-D view of the globalisation of 140 countries’ trade, capital, information and people flows. It measures their Depth (relative to domestic activity), their (geographic) Distribution and their Directionality (inward versus outward). India ranks 71st out of 140 countries on its overall level of global connectedness, down from 68th two years ago. Its overall middle-of-the-pack ranking, however, masks major weaknesses – or, untapped opportunities."
School News

Professor Thomas Philippon is awarded the 2013 Bernácer Prize

Thomas Philippon
Professor Thomas Philippon has been awarded the 2013 Bernácer Prize, which is given annually to a European economist under the age of 40 who has made outstanding contributions in the fields of macroeconomics and finance.
Faculty News

The DHL Global Connectedness index, co-authored by Prof. Pankaj Ghemawat, is featured

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Excerpt from Harvard Business Review -- "The index is compiled by Pankaj Ghemawat, a professor at NYU’s Stern School of Business and the IESE Business School in Barcelona, and Steven Altman, a lecturer at IESE. Ghemawat, a frequent HBR contributor, began arguing in 2007, with the book Redefining Global Strategy, that the world isn’t nearly as flat as Tom Friedman said it was."
Faculty News

In an op-ed, Prof. Kim Schoenholtz argues against federal mortgage subsidies

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Excerpt from The Huffington Post -- "Mortgage subsidies through federal agencies are the modern-day version of the Homestead Act. But unlike the land grants of the 19th century, government loan subsidies have proven to be a rather bad idea. They drive up prices and increase the size of the average house, at the same time that they encourage people with little savings and highly variable incomes to purchase homes and shoulder the risks of house price fluctuations. The result -- as we saw in the 'subprime crisis' -- was ruinous for the borrowers, the lenders and the economy as a whole."
Faculty News

Dear Prudence recommends Prof. Jonathan Haidt's book, "The Righteous Mind"

Excerpt from Slate -- "First buy her the book The Righteous Mind: Why Good People are Divided by Politics and Religion by Jonathan Haidt. Hand it to her and say since you’re both in a book club, you thought that this would speak to the problem you two are having about your differing political views. Then say that you would appreciate if she would stop bringing up politics and denigrating your husband. Explain that Haidt shows how people can look across this divide and understand each other better."
Faculty News

Prof. Pankaj Ghemawat discusses the findings of the DHL Global Connectedness Index, which he co-authored

Excerpt from Bloomberg -- "Perhaps [globalization] was never quite what people thought it was a few years ago, because I think a few years ago, the rhetoric was about whether distance was dead, the world was flat, et cetera, and now the rhetoric has shifted to, is globalization over? And what our study points out is both extremes are probably missing the mark. Globalization never was complete, but it did show an uptick last year."
Faculty News

Prof. George Smith's Global Perspectives on Enterprise Systems course is highlighted

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Excerpt from Financial Times -- "In Global Perspectives on Enterprise Systems, an NYU elective led by Prof George Smith, our class examined Wedgwood’s life story and the lessons it offered. The course looks to answer some very important questions: why have Britain, the US, Germany and Japan been so prosperous over recent centuries? Why did these countries modernise their economies before their respective peers? Why did their reforms work and what lessons can we draw for other nations today?"
Faculty News

In an op-ed, Prof. Pankaj Ghemawat discusses the findings of the DHL Global Connectedness Index, which he co-authored

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Excerpt from Strategy + Business -- "Forecasts aside, the results to date are unequivocal: The challenges of doing business abroad are daunting and will remain so. However, business leaders should not be too gloomy. Large untapped opportunities to create value across national borders still exist. In a world of semi-globalization, where markets are only partially integrated, smart strategies can still create big profits by scaling business across borders and arbitraging across international differences, especially when those efforts are coupled with appropriate adaptation to local and national contexts."