Faculty News

Professor Nicholas Economides weighs in on Epic Games' recent allegations that Apple and Google breached anti-trust laws by charging app developers a 30% fee on sales and imposing other restrictions that benefit their own businesses

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Excerpt from Reuters -- "But in the end, alternatives exist, said Nicholas Economides, a New York University economics professor who studies online marketplaces.'Having other options definitely makes it a bit harder to say something is anticompetitive,' Economides said, speaking generally about app stores."
Faculty News

Professor Joost van Dreunen offers his perspective on the future of virtual-reality startup company Sensorium Corp

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Excerpt from BNN Bloomberg -- “'Sensorium looks like one the best funded VR-related experiments out there,' said Joost van Dreunen, an adjunct assistant professor at New York University’s Stern School of Business, adding it’s a risky bet given how early-days the industry is. 'We have to ask the question: If Covid-19 benefitted every other aspect of gaming in recent months, where is the evidence that consumer adoption of VR has accelerated?'”
Faculty News

Lord Mervyn King's recent comments calling on policymakers to acknowledge the world's advanced economies have been stuck in a "low-growth trap" for at least a decade are mentioned

Excerpt from Australian Broadcasting Corporation (ABC) News -- "There are plenty of aggressively confident people out there, but it doesn't mean they always know what they're talking about. Last year, a former governor of the Bank of England, Mervyn King, even criticised the current generation of policymakers for failing to acknowledge how much the world had changed since the global financial crisis. He also wanted to know why they were so resistant to new ways of thinking."
Faculty News

Key takeaways on technology addiction from Professor Adam Alter's book, "Irresistible," are highlighted

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Excerpt from Interesting Engineering -- "It is time to talk about our addiction to technology. We might not have a Walking Dead-style zombie apocalypse to deal with, but we do have plenty of technology zombies walking around. NYU professor Adam Alter thinks this is really happening. In his book Irresistible, Dr. Alter discusses the addictive perils of modern technology, and gives some eye-opening statistics, like how an average millennial picks up their phone 150 times a day."
Faculty News

Joint research from Professor Baruch Lev investigating why firms split their stock or distribute stock dividends and why the market reacts favorably to these distributions is cited

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Excerpt from Barron's -- "Critics point out that there’s no guarantee that a stock’s value will continue to rise after the split. They also take issue with the expanded-ownership argument. Average trading volume—measured by dollar amounts traded—don’t change much post-split, according to a widely cited academic paper by Josef Lakonishok and Baruch Lev."
Business and Policy Leader Events

Discussion on "Quest for Restoring Financial Stability in India" featuring Professor Viral Acharya

Raghu Sundaram and Viral Acharya
On Friday, August 14, The Salomon Center for the Study of Financial Institutions will host a discussion on Quest for Restoring Financial Stability in India, featuring Professor Viral Acharya and moderated by Dean Raghu Sundaram.
Faculty News

In an in-depth Q&A interview, Professor Edward Altman discusses his approach to evaluating small businesses and offers thoughts on where India stands with respect to the global SME financing opportunity in a post-COVID-19 world

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Excerpt from Moneycontrol -- "I am extremely surprised that something that we built 50 years ago is popular even today. I think the secret to its longevity is three factors: first, it is a simple analytical tool involving five commonly found financial measures which helped distinguish between healthy and unhealthy companies. Second, it continues to be quite accurate, ranging between 80 to 90 percent accuracy for large companies. And third, it is free. Anyone can use it, test it, and if they do not like it, throw it out."
Faculty News

Center for Business and Human Rights Deputy Director Paul Barrett explains why false photos are critical currency in the world of disinformation

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Excerpt from Greenpointers -- "Greenpointers asked Dawn Jo Branch where she found the image of Greenpoint garbage, but she hasn’t responded. More than 8,000 people have shared her post of trash in 'Seattle.' Unfortunately, this type of photographic trickery is common, explains Paul Barrett, deputy director of the NYU Stern Center for Business and Human Rights and researcher who investigates the spread of misinformation across social media."
Faculty News

Research addressing how to treat stock based compensation in cash flow valuations from Professor Aswath Damodaran is referenced

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Excerpt from Seeking Alpha -- "For further reading on the topic of treating stock based compensation in cash flow valuations I highly suggest this post by a fellow Seeking Alpha contributor as well as this post by NYU Professor Aswath Damodaran."
Faculty News

New, joint research from Professor Bryan Bollinger exploring the household adoption of solar power is highlighted

Excerpt from Nature -- "Personal economic advantage is more likely to persuade people to switch to solar power than campaigns focusing on public interest.Kenneth Gillingham at Yale University in New Haven, Connecticut, and his colleagues assessed the outcome of a grassroots campaign to convince people to outfit their homes with solar panels. The study used data collected in 29 Connecticut municipalities with more than 680,000 residents in total, and included information on rooftop solar-panel installations."
Faculty News

Insights on shadow banking from Professor Nouriel Roubini's book, "Crisis Economics," are spotlighted

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Excerpt from Business Today -- "Shadow banking isn't exactly a neoliberal (radical right) concept, it existed earlier, but as Prof. Nouriel Roubini of New York University and Prof. Stephen Mihm of the University of Georgia pointed out in their 2010 book "Crisis Economics" it entered mainstream financing in a big way and turned the rules of the game in the neoliberal era."
Faculty News

Professor Scott Galloway's comments addressing the current state of the innovation economy in the United States are featured

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Excerpt from NY Mag -- "On the latest episode of the Pivot Schooled Live series, Kara Swisher and Scott Galloway discussed how much the supremacy of a company’s product still matters in 2020, and to what extent innovation has been co-opted by huge companies that can hire inexpensive labor and create the illusion of forward progress. Swisher contended that companies need to prove themselves to consumers to really succeed, but Galloway argued that a “cheap capital economy” that thrives on the exploitation of workers has taken over the American entrepreneurial model that had been ascendant since the 1970s."
Faculty News

Professor Richard Sylla offers analysis on how a European-style national health insurance, where the government would take over the health industry, could impact pharmaceutical companies

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Excerpt from Marketplace -- "Sylla said that historically, Wall Street has tended to gravitate toward the Republican Party because it’s perceived as the 'party of business.' He pointed out, though, that markets actually have performed better when Democrats are in charge, possibly because Democrats offer policies that pursue full employment. However, over time, Sylla noted, there’s been a shift with Democrats, who are not exactly 'pro-business,' but 'pro-policies that are good for business.'"
School News

Stern's Andre Koo Tech MBA is spotlighted in P&Q's "10 Biggest B-school Innovations of the Decade" list

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Excerpt from Poets & Quants -- “Business schools all over the world have been innovating new ways to teach business skills to young professionals, modernizing traditional MBA programs, and launching new, more specialized degrees in such fields as data analytics and chain supply management.”
School News

In an in-depth feature story, current Executive MBA student Matthew Meade (MBA '21) shares career advice for young people of color in finance and previews his forthcoming book, "Wisdom On the Way to Wall Street: 22 Steps to Navigate Your Road to Success"

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Excerpt from Business Insider -- "'I am heartbroken by what happened to George Floyd,' Matthew Meade, 36, a vice president who works in risk management at the bank, wrote to his team in an email viewed by Business Insider. 'When I think of George, it is no longer a matter of if what happened was wrong or right,' Meade added. 'It's not about black versus white, it's about America versus racism.' Meade, who is currently pursuing an executive MBA at the NYU Stern School of Business, has spent nearly 10 years working at JPMorgan. In recent years, he's taken on a number of roles, at work and in his personal life, to improve the experiences of other young people of color. Later this month, he'll unpack some of those topics in 'Wisdom On the Way to Wall Street: 22 Steps to Navigate Your Road to Success,' his forthcoming book, which Meade will self-publish on August 22."
Faculty News

Professor David Yermack is quoted in a story examining Kodak board member George Karfunkel's recent stock gift of $116 million to a charity he started

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Excerpt from The Wall Street Journal -- "David Yermack, a New York University finance professor who has studied stock gifts, said he wasn’t familiar with the Karfunkels’ donation, but 'in general there’s a lot of circumstantial evidence that people backdate charitable gifts to local maximums in the stock price, when they could get the maximum charitable deduction.' He said the chances of such favorable timing are greater when the donor has ties to both sides of the transaction—as did Mr. Karfunkel with the congregation."
Faculty News

Professor Amy Webb weighs in on the societal changes that lie ahead as a result of the coronavirus pandemic

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Excerpt from Pittsburgh Quarterly -- "'Right now, everyone wants to know what the ‘new normal’ will look like. I don’t have a satisfying answer for that question,' said Amy Webb, a futurist consultant and professor of strategic foresight at the NYU Stern School of Business. 'The new normal, at least for a long while, will be continued disruption.'"
Faculty News

Insights from Professor Thomas Philippon’s book, “The Great Reversal,” are referenced

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Excerpt from Financial Times -- "There is another reason US workers have been prevented from negotiating higher wages. Between 1997 and 2012, 75 per cent of industries became more concentrated. As economist Thomas Philippon argues in his book 'The Great Reversal,' this is driven by a lack of competition. As superstar companies rise to the top and squash potential rivals, they become less inclined to raise wages because competition for workers is limited. Beefing up antitrust policy would help reverse this trend."
Faculty News

Professor Steven A. Altman shares thoughts on globalization in the midst of the coronavirus pandemic

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Excerpt from El Pais -- "Before the pandemic exploded, trade and capital flows fluctuated below where they were before the 2008 financial crisis. 'With regard to exports of services, although in recent years they have been increasing notably from hand in hand with the processes of productive transnationalization, a significant reduction in these flows is expected due to the impact on the world tourism sector,' says Steven Altman, principal investigator and executive director of the Center for the Globalization of Education and Administration NYU Stern School of Business. Globalization has entered a new era."
Faculty News

In an article on the value of pre-doc programs for economists, Professor and Dean Emeritus Peter Henry’s work with the PhD Excellence Initiative is highlighted

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Excerpt from The Economist -- "Done well, pre-docs enrich both economists and economics. They help produce good research and open up the profession. Peter Henry of New York University started his programme in 2014 to increase the representation of minorities. Camille Gardner, one of his pre-docs, says the experience has persuaded her to pursue a phd, and taught her skills important for graduate study, such as how to write a good paper. She thinks of Mr Henry as her mentor, 'not just my boss"'.
Faculty News

Professor Aswath Damodaran discusses the value of Big Tech stocks

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Excerpt from Business Insider -- "'There will be a better time to enter these stocks, but if you're an active investor picking stocks, I don't see how you can have a portfolio without at least one of these stocks, perhaps more, in your portfolio. It seems very difficult to build a portfolio that can beat or even meet the market without these stocks,' said Damodaran."
Faculty News

Professor Adam Alter shares advice on how to reduce screen time during the coronavirus pandemic

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Excerpt from Bloomberg -- "'You just have to be mindful and purposeful, and to cultivate the habit of leaving your phone as far away from where you are as possible,' Alter wrote in an email. 'Most of us can reach our phones without moving our feet for most of the day, so the key is to thoughtfully introduce distance between us and our phones.'"
Faculty News

In a live interview, Professor Arun Sundararajan explains why he expects dine-in demand to keep growing even after the COVID-19 pandemic and why Uber Technologies and DoorDash are poised to benefit from the shift

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Excerpt from Bloomberg -- "Arun Sundararajan, a business professor at New York University's Stern School of Business, expects dine-in demand to keep growing even after the Covid-19 pandemic and Uber Technologies Inc. and DoorDash Inc. are poised to benefit."
Faculty News

Professor Viral Acharya's recent comments addressing inflation in India are highlighted

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Excerpt from Business Insider -- "Former RBI Deputy Governor Viral Acharya believes that the the apex bank should ‘respect’ its core mandate and get choice because of the relationship inflation shares with the repo rate."
Faculty News

Professor Eli Bartov discusses why the coronavirus crisis has made accounting numbers much less reliable

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Excerpt from Marketplace -- "The pandemic has created a lot of uncertainty, 'and since accounting involves a lot of estimates about the future, it makes the accounting numbers much less reliable,' said Eli Bartov, an accounting professor at New York University’s Stern School of Business. The pandemic could also tempt some companies to cross the line. They might use accounting tricks to smooth out revenue so it looks steady from quarter to quarter. Or include other metrics in their financial statements that say, well, if it weren’t for COVID-19, here’s what our numbers would have looked like."