Experience Stern | News & Events

Excerpt from Accounting Today -- "Overall, our findings are consistent with the view that mandating a fully independent audit committee with at least three outside directors is not, on average, value enhancing…Assess[ing] changes in financial reporting quality…we find no evidence that [the rule] produced tangible benefits to shareholders."

This program is for general and functional business managers who interact regularly with the firm’s finance area; managers who make business decisions that affect the firm’s financial results, or are impacted by financial models; and financial analysts and investors who would like to understand how to interpret the data in financial statements to assess a firm's future prospects and value.

Excerpt from El Pais -- (translated from Spanish using Google Translate) "'Technology companies fear that, sooner or later, [governments] will try to pass a regulation that substantially alters their business model,' explains Pankaj Ghemawat, a professor at New York University and IESE Business School. Author of World 3.0: Global Prosperity and How to Achieve It."

Excerpt from Philstar.com -- "The DHL Global Connectedness Index – which tracks international trade, capital, information and people flow – shows that globalization slowed down in 2015 but did not go into reverse. Updated data for 2016 for trade and investment suggests a continued slowdown but still no reversal."

Excerpt from Xinhua -- "Corporations would have greater levels of profitability due to lower taxes, while higher level of profitability for corporations leads to higher stock prices, Robert Salomon, associate professor at the Stern School of Business, New York University, told Xinhua in a recent interview."

Excerpt from The New York Post -- "'This was probably due to hurricane impacts but fits into a larger trend where wage growth has been weaker in this recovery than prior ones,' Joseph Foudy, a business professor at New York University, told The Post."

Excerpt from The Ringer -- "Alter and colleague Daniel Oppenheimer studied the performance of hundreds of stocks from 1990 through 2004 and found the ones with simpler names were the ones that performed better. The same went for politicians ('people prefer politicians with simpler names') and lawyers in American firms ('fluent names rise up the legal hierarchy to partnership more quickly')."

On Friday, November 3, NYU Stern hosted its second-annual FinTech Conference entitled, “The Transformative Potential and Regulatory Challenges of FinTech.” 

Excerpt from Fox Business -- "Simplification.. one page.. that is music to my ears. At the same time, we've got to remember, we've got all these things we as a population, we as an electorate, want to have done, whether it's having a safe country, increasing the capability of the men and women who serve in our armed forces, getting a better air traffic control system, getting more potholes fixed in our roads... all of those things, we've got to pay for them somehow."

Excerpt from Bloomberg -- "I have studied the mobile economy for awhile now and I am fascinated by the facial recognition technology that the new iphone X has. China has been the trendsetter in the mobile economy and everybody else is actually following them. One particular aspect that fascinates me is facial recognition...a lot of consumers in China are accustomed increasingly to having facial recognition technology and my sense is that this particular technology and the iphone X is something that will be well received."

Excerpt from Bloomberg -- "WeWork started testing a program last month to let Airbnb guests in six cities save spots at co-working offices nearby. If WeWork pursues more short-term rentals, the company could benefit from how Airbnb legitimized unconventional travel accommodations, says Arun Sundararajan, a professor at New York University who wrote a book about the sharing economy."

Excerpt from the Los Angeles Times -- "Schoenholtz and others who have seen Powell speak and engage with audiences say that Powell knows how to communicate and that he has learned leadership skills at the Fed and in Treasury. Before joining the Fed, Powell had been a visiting scholar at the Bipartisan Policy Center think tank and a partner at the Carlyle Group, a high-powered Washington, D.C., asset-management firm. 'He’s had a long experience at the Fed, and he’s been part of the process of creating consensus there about policy,' Schoenholtz said."

Excerpt from CFO -- "'Mandating a fully independent audit committee with at least three outside directors is not, on average, value enhancing,' write the authors, Seil Kim of the City University of New York and April Klein of New York University. The study’s findings are based on financial and governance information on 1,122 companies drawn from several large databases."

Excerpt from Bloomberg -- "If The New York Times can protect us from the weaponization of their platform with $90 million in cash flow, Facebook can figure it out with $12 billion. Facebook could hire 10,000 people to screen content, they could spend a half a billion dollars a year on artificial intelligence to help those people identify and flag that content, and it would dent their free cash flow five or 10%. When big tech tells you something is impossible, that's Latin for, 'we would be less profitable if we did this.'"

NYU Stern’s Leadership Development team welcomed Susan Peters, senior vice president of human resources at GE, for an event entitled, “Tales in Leadership: Managing Change.”

Excerpt from the Chicago Tribune -- "'It makes complete sense from the perspective of the pricing game. It’s a traders’ game right now,' said Aswath Damodaran, finance professor at New York University’s Stern School of Business. 'It does absolutely nothing in advancing bitcoin’s cause as a digital currency.'"

Excerpt from Christian Science Monitor -- "'I think bitcoin is more of an investment security than a currency,' David Yermack, a finance professor at New York University’s Stern School of Business, writes in an e-mail. Some 90 percent of the transactions appear to be between investors rather than as payments for goods and services, he says."

Excerpt from CBS News -- "Russell Winer, a marketing professor at New York University's Stern School of Business, believes the company is not a pyramid scheme. 'If there are products that are actually being sold to consumers, then it's not a pyramid scheme,' he told Werner."

Excerpt from DNAinfo -- "'The LLC constructions are common, especially on the higher end,' he said, noting that a report from the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) found that 30 percent of sales involving LLCs were connected to people who had been reported for suspicious activity by financial institutions. 'Once this type of activity receives a lot more scrutiny, as it certainly will because of the Manafort case, it will temper enthusiasm for these purchases and put further pressure on an already shaky New York luxury market,' Van Nieuwerburgh said."

Excerpt from EdScoop -- "The goal is to be 'a hub that matches inspired ideas with the expertise to scale and commercialize them — and develop MBA students in the process who may want to follow a similar entrepreneurial path in the future,' Sundaram said. ... Hegde said he’s hoping the Creative Destruction Lab puts NYU at the center of disruption happening in several fields. 'Technology is disrupting industries like finance and publishing, and we think it’s part of a long-run disruption that’s happening,' he said. 'Like Stanford is for Silicon Valley, we want to make NYU for the New York City region.'"

Excerpt from The New York Times -- "'I think it’s far more important to understand and appreciate high-quality economic analysis than it is to have a Ph.D.,' said Kim Schoenholtz, a professor of economics at New York University. He noted that most Treasury secretaries had not held degrees in economics. 'What distinguishes the most effective secretaries is skill at bringing in talented personnel and appreciation for the value of informed economic analyses,' he said."

Excerpt from the Stamford Advocate -- "'Shrinking its footprint generally has been part of the recovery for RBS,' said Lawrence J. White, a professor of economics in New York University’s business school. 'It shouldn’t come as a big surprise that as part of the overall shrinking that they would be shrinking their North American operations.'"

Excerpt from The Conversation -- "Itamar Simonson and Russell S. Winer found that when people plan their lunches for the upcoming week, they tended to buy a diverse assortment of meats and yogurt. But when they bought lunch one day at a time, they often ended up eating the same turkey sandwich and strawberry yogurt every day."

On Saturday, Oct. 28, NYU Stern in Africa will host its annual Stern in Africa Business Forum entitled, “The Tipping Point: Accelerating Africa’s Agenda”.   

Excerpt from Institutional Investor -- "As French economist Thomas Philippon shows, the unit cost of financial intermediation is higher today than it was a century ago. All the improvements in information technology have been canceled out by trading activities with little social value. This is why a bloated finance industry has been shown to be a drag on productivity and real economic growth."