School News

A newly-announced collaboration between Just Salad and Stern MBA students through a Stern Solutions experiential learning project is featured; Center for Sustainable Business Senior Associate Director Sophie Waskow Rifkin is quoted

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Excerpt from QSR Magazine -- “'The work that Just Salad is doing to educate people about their food choices as they relate to planetary health is imperative,' says Sophie Waskow Rifkin, Senior Associate Director, Center for Sustainable Business at NYU Stern School of Business, which facilitated the project. 'I’m incredibly proud of our MBA candidates who are passionately dedicated to sustainability and helped Just Salad take this historical step for the betterment of the restaurant industry and our planet.'"
School News

NYU Stern MBA Students Win Second Place in Nationwide Small Business School Challenge Hackathon Supporting Businesses in Response to Covid-19

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A team of NYU Stern MBA students won second place in The Small Business School Challenge, a 48-hour nationwide virtual hackathon launched to help support small businesses during the coronavirus pandemic. The Stern team included Fashion & Luxury MBA students Lisa Gehring (MBA ‘20), Hannah Gotfredson (MBA ‘20), and Becca Yu Zhou (MBA ‘20), and was one of 10 finalists. 
School News

Postdoctoral fellow Rachel Marie Brooks Atkins is quoted in an article highlighting why Black-owned restaurants are seeing a surge of interest and support

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Excerpt from The Washington Post -- "'The campaign to 'buy black' is not new in the black community, notes Rachel Marie Brooks Atkins, a postdoctoral faculty fellow at New York University’s Stern School of Business. She says many people who study black entrepreneurship are skeptical that even more widespread adoption can have a lasting impact, noting that the challenges facing black businesses are more fundamental than cash flow."
School News

In an op-ed, Center for Business and Human Rights Senior Program Manager Casey O'Connor spotlights how the coronavirus crisis can serve as a catalyst to shake up ESG investing

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Excerpt from MarketWatch -- "The 'S' should focus on inequality and the core business practices that fuel it, especially outsourcing and automation. The COVID-19 crisis has laid bare the degree of economic inequality in America. While America's white-collar workers juggle Zoom calls and child care, low-wage earners must either risk infection delivering essential services or find themselves unable to afford rent and other necessities for their families."
School News

P&Q cites Stern as bucking historical internship pay trends, quoting Assoc Dean of Career Services Beth Briggs, & credits the School for creating SternWorks, a new initiative to connect MBAs with small businesses to share skills & give back to NYC

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Excerpt from Poets & Quants -- "NYU Stern, SternWorks, a joint effort of the Office of Career Development and Office of Student Engagement (the latter of which leads Stern’s experiential learning efforts), gives full-time MBA students a summer experience who don’t otherwise have one lined up — or whose internship was delayed or truncated. The school tells P&Q that the program helps students build skills while giving back to its community — which was hit harder by the pandemic than any other in the U.S. SternWorks is a testament to quick-thinking innovation."
Faculty News

Joint research from Professor Baruch Lev examining the recent failure of value investing is highlighted

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Excerpt from Bloomberg -- "This concern lines up with post-crisis economic trends that are now being exacerbated by the pandemic. In a paper with University of Calgary’s Anup Srivastava, New York University professor Baruch Lev argues that as consumer demand and bank lending slumped after the 2008 recession, value shares have been unable to rebuild and innovate."
Faculty News

Center for Business and Human Rights Deputy Director Paul Barrett offers his thoughts on online misinformation and the recent protests

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Excerpt from The Hill -- “'There's certainly some anecdotal evidence that there are some left wing extremists ... and right wing extremists who were participating in a protest around the edges and causing some of the problems. But of course that's not to say that these protests are not real and spontaneous,' said Paul Barrett, deputy director of the New York University Stern Center for Business and Human Rights."
Faculty News

Professor Edward Altman's estimation that roughly 8% of all firms whose debt is rated speculative grade will default in the next 12 months is cited

Excerpt from Money Morning -- "Edward Altman, an emeritus professor of finance for the New York University Stern School of Business, estimates about 8% of all firms whose debt is rated speculative grade will default in the next 12 months. Over the next two years, 20% will go belly-up. Altman also expects at least 165 large firms with more than $100 million in liabilities will go bankrupt by the end of 2020."
Faculty News

In a wide-ranging interview, Lord Mervyn King illustrates why the COVID-19 pandemic is a classic example of radical uncertainty

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Excerpt from MoneyWeek -- "This week, Merryn talks to ex-governor of the Bank of England Merryn King about the pandemic and how to prepare for a future that is unknowable; the government's response and why science may not always have the answers; and how to deal with vast rise in public debt. Plus, a little bit of bonus Brexit."
Faculty News

Professor Dolly Chugh discusses how implicit biases are a normal part of one's thought process and come from messaging that has been internalized over the course of their lives

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Excerpt from Yahoo News -- "Instead, implicit biases are a normal part of one's thought process and come from messaging they've internalized over the course of their lives. This messaging comes from media, education, pop culture, and real-life interactions. 'Think of that as a fog we've been breathing our whole life, we never even realized it, what we were taking in,' says Dolly Chugh, an associate professor at NYU's Stern School of Business."
Faculty News

Research from Professor Aswath Damodaran on equity risk premiums is cited

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Excerpt from MarketWatch -- "Analysts have also pointed to low interest rates as a reason for higher valuations of late. The equity risk premium, or the expected return stocks will provide over government bonds sits at above 6% versus an average of 3.2%, according to data from Aswath Damodaran, professor of corporate finance and valuation at the Stern School of Business at New York University."
Faculty News

Professor Anindya Ghose addresses the short-term direction of consumerism in the midst of the coronavirus crisis

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Excerpt from Moneycontrol -- "'For the next three years, until we have herd immunity or a vaccine, we are going to see significantly less consumerism than before as consumers will value savings even more, socially distance from others, avoid visiting large public places like shopping malls, department stores and sit down restaurants, and skip public events, especially indoors that are subject to recirculated air,' said Anindya Ghose who teaches business at the New York University Stern School of Business."
Faculty News

In a radio interview, Professor Amy Webb offers predictions on how employers may use real-time health data to combat the spread of COVID-19

Excerpt from KCRW -- "'We live in a very litigious society, but no employer wants to get sued if their employee gets sick. So in order for that to happen, the employer needs real-time knowledge of every employee's health situation. And because it takes a while for the virus to present symptoms, we're either going to have to have some kind of scanning and scoring system for each person, based on your digital behaviors, and if there are any test results. Or we're going to have to have a much faster test, and it's going to have to be comprehensive and available. We're going to have to be tested every single day as we wait for a vaccine.'"
Faculty News

Commentary on why G20 leaders should advance the implementation of the G20 Action Plan, co-signed by Professor Michael Spence, is published

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Excerpt from Project Syndicate -- "COVID-19 is a wake-up call to the global community. The global health and financial architecture must be strengthened, and in parts redesigned, to enhance our preparedness and capacity to act with speed and at scale to fight future crises. We should send a message of hope for the future: that the UN, G20 governments, and all interested partners can turn this crisis into an opportunity to build a new and more effective multilateralism, which more appropriately reflects current economic and political realities and is better equipped to address the challenges of the twenty-first century."
Faculty News

Professor Adam Alter shares his perspective on what a "new normal" might look like in the wake of the COVID-19 pandemic

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Excerpt from CBS News -- "Adam Alter, a psychology professor at New York University's Stern School of Business, said, 'Behaviors change, but they always change for shorter periods than we anticipate or than a lot of people expect.' 'He points out that the phrase "the new normal" was much used during the last two decades, notably after the 2008 financial crisis."
School News

Alumnus Ari Schiff (MBA '20) is profiled as part of P&Q's "2020 MBAs To Watch" list; Schiff credits the School's Fertitta Veterans Program and strong veteran community for a smooth transition back to school and facilitating a strong network

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Excerpt from Poets & Quants -- "The combination of the Fertitta Veterans Program, living in New York City, and the school’s track record in investment banking recruiting led me to choose Stern. As I was transitioning out of the Marine Corps, I was looking for MBA programs with strong veteran clubs. I felt that a strong veteran community would help ensure a smooth transition back to school and facilitate a strong network for future endeavors. Stern has one of the highest military contingents of any MBA program, largely due to the creation of the Fertitta Veterans Program in 2016. The program reduces veterans’ tuition to $30,000 per year and has provided scholarships to many graduates. In addition to tuition assistance, the program helps veterans ease back into academics by taking the statistics and financial accounting core requirements prior to orientation with the rest of the class."
School News

Recent alumnus Jamison Alexander Friedland (MBA '20) is highlighted as part of P&Q's "2020 MBAs To Watch" list; Friedland discusses the wide-ranging impact Stern's Center for Sustainable Business had on his academic and professional career

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Excerpt from Poets & Quants -- "My favorite professor at NYU Stern has been Tensie Whelan. I had the opportunity to meet Tensie before I enrolled at Stern through events hosted by the School’s Center for Sustainable Business. Through this meeting, I was able to negotiate a research opportunity about ESG credentials of Fortune 100 board members. I was then also able to work as Professor Whelan’s teaching fellow for four of her courses at the Undergraduate, MBA, and Online Certificate levels. Prior to working with Tensie, I was aware of how approaching investing from a sustainable mindset could be used as a risk mitigant. However, as her teaching fellow, I was able to watch her successfully demonstrate the potential financial upside available for companies which I can use going forward in my professional life."
Faculty News

In a story exploring how the coronavirus crisis will shape the future of the sharing economy, Professor Arun Sundararajan predicts a major shift away from hotels and towards vacation rentals and Airbnbs

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Excerpt from iNews -- "In the long run, this could prove to be a strength for Airbnb over other options, explains Professor Arun Sundararajan of New York University, author of The Sharing Economy. Airbnb apartments offer a greater sense of control over personal space, and lower occupancy rates than hotels, he points out. 'I think there is going to be a very large shift away from hotels and towards vacation rentals and Airbnbs,' he predicts."
Faculty News

In a podcast interview, Professor Simon Bowmaker discusses key takeaways from his recent book, "When the President Calls"

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Excerpt from New Books Network -- "I spoke with Dr Simon Bowmaker, Professor of Economics at New York University, Stern School of Business. He has recently published When the President Calls: Conversations with Economic Policymakers (MIT Press, 2019). His book is a very original and timely contribution on the relationship between US presidents and their economic advisers. The book, 674 pages, is divided into nine sections (one for each president from Nixon to Trump) and 35 chapters (one for each economic adviser of those nine presidents). The book covers 50 years of US history, 1969 to 2019 and is enriched by amazing pictures of the advisers ‘in action’ with their presidents."
Faculty News

In a Q&A interview, Professor Hanna Halaburda shares her thoughts on the post COVID-19 financial paradigm and what it means for digital assets like cryptocurrency, citing Stern-led research on blockchain, smart contracts and FinTech

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Excerpt from City A.M -- "COVID disruption has pushed us to do more things remotely and digitally. Even though the tough social distancing measures (which are actually physical distancing measures) are being relaxed, we will keep doing more things remotely and digitally. Both these forces create a more favorable environment for the adoption of blockchain solutions and cryptocurrencies."
Faculty News

Center for Business and Human Rights Deputy Director Paul Barrett comments on the implications stemming from President Trump's executive order that calls for regulating online censorship on social media platforms

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Excerpt from Forbes -- “'This strikes me as potentially good politics in revving up his base, but not at all sound as a matter of administrative law or constitutional law,' said Paul Barrett, deputy director of the Center for Business and Human Rights at NYU."
Faculty News

New, joint research from Professor Sabrina Howell addressing the sensitivity of early-stage venture capital (VC) investment to market conditions is highlighted

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Excerpt from Institutional Investor -- "In the first two months after the Covid-19 pandemic struck the U.S., early-stage venture capital activity dropped by 38 percent relative to the previous four months, reported the paper’s authors Sabrina Howell (New York University), Josh Lerner (Harvard University), Ramana Nanda (Harvard), and Richard Townsend (University of California, San Diego)."
Faculty News

Professor Samuel Craig explains how credit card companies effectively use cash back offers

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Excerpt from WalletHub -- "There are hundreds of millions of credit cards issued in the US and most people with a credit card have multiple pieces of plastic in their wallet. To successfully launch a new card into a crowded market you need a gimmick. Another card simply offering 2% cashback would get lost. But a card with a gimmick of 1% on purchases and 1% on payments is different. The segment may not be that large but it is better than being unsuccessful. Although for the issuer it is a bit counter-intuitive as the banks make most of their money on people who carry a balance and pay the high rates of interest. Giving people an incentive to pay right away eliminates the interest charge revenue stream."
Faculty News

Professor Priya Raghubir offers advice to consumers who are considering applying for credit cards advertising “no late fees ever"

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Excerpt from WalletHub -- "A 2% incentive on purchase versus a 1% on purchase and 1% on payment has differential implications for credit risk (the likelihood that customers may not be able to repay the amount they borrowed and the credit balance will go into default.) With an incentive to pay off credit card balances, the credit card company walks a tight rope between encouraging a credit card balance (on which it will charge interest, and so, make money), and taking on a potentially delinquent asset which will need the services of a debt collector, and, may, only result in partial repayment, if any."