Experience Stern | News & Events

September 15, 2009 marks one year after the collapse of Lehman Brothers, which precipitated the financial crisis that unfolded last fall. NYU Stern finance, economics and accounting faculty, including authors of the book, Restoring Financial Stability: How to Repair a Failed System, are available to provide perspectives on a variety of financial and policy angles on the crisis and where we are today.

Bringing together scholars and practitioners from around the US and countries as far reaching as Germany, Turkey and New Zealand, the Sixth Annual Marketing Dynamics Conference served as a forum to share and analyze some of the latest research in the field.

Viral Acharya, NYU Stern Professor of Finance, was awarded the Viz Risk Management Prize on Energy Markets, Securities, and Prices, for his paper, “Limits to Arbitrage and Hedging: Evidence from Commodity Markets,” with co-authors Lars Lochstoer from Columbia Business School and Tarun Ramadorai from Oxford University Said Business School.

New York University Stern School of Business will begin accepting Graduate Record Exam (GRE) test scores from candidates applying to its full-time and Langone part-time MBA programs for fall 2010 admission. Applicants will now have the option to submit either Graduate Management Admission Test (GMAT) or GRE scores with their application.

“As the global recession continues, struggling domestic industries are demanding new import restrictions to safeguard their businesses,” says NYU Stern Professor Robert Salomon.

On August 5, 2009, NYU Stern Professor Lawrence White testified before the US Senate Committee on Banking, Housing and Urban Affairs during a hearing on “Examining Proposals to Enhance the Regulation of Credit Rating Agencies.”

New research by NYU Stern Finance Professor Viral Acharya, with Stew Myers of MIT and Raghuram Ragu of Chicago GSB, finds that firms should invest in junior management because they impose an important discipline on top management and are closely tied to a firm’s long-term value.

The insurance sector, notably the monoline insurers and A.I.G., played a crucial role during the boom of 2004-2007 by guaranteeing a variety of credit risks using both insurance policies and significantly substitutable credit derivatives.

On Thursday, July 30, Dean of Students and Associate Dean of MBA Student Affairs Gary Fraser joined second-year MBA student Debra-Ellen Glickstein, co-founder of the East River Development Alliance (ERDA), and members of the NYU Stern Student Corporation (SCorp) to present a $20,600 check to Bishop Mitchell G. Taylor, CEO of ERDA, and to participants who have benefited from the organization's programs.

As proposals circulate on how to fix the credit rating agency problem, new research from NYU Stern suggests that increased competition and more regulation aren’t the answer. Solutions, say two economics professors, lie with getting credit rating agencies to adjust for the bias that results from ratings shopping.

NYU President John Sexton and Provost David McLaughlin today named Peter Blair Henry – the Konosuke Matsushita Professor of Economics at Stanford University – as dean of NYU’s Leonard N. Stern School of Business. He will assume the deanship effective January 15, 2010. A Rhodes Scholar; the leader of the Obama Transition Team’s review of the International Monetary Fund, World Bank, and other international lending agencies; and an economic advisor to governments from the Caribbean to Africa, Dean-designate Henry’s scholarship focuses on the impact of economic reform on emerging economies.

Cut medical benefits or lower salaries? Lay off workers or go bankrupt? Risk today’s bottom line or tomorrow’s? Dilemmas such as these are often unavoidable, and new research coming out of NYU Stern suggests that if you are choosing between two unsavory alternatives, you are likely to be blamed no matter what choice you make.

As the Obama Administration pushed the energy bill through the House, government organizations and corporations are assessing renewable energy alternatives. Which are the most efficient and improving the fastest?

On July 9, 2009, Dean Thomas Cooley’s testimony was written into the record of a hearing on the role of the Federal Reserve before the House Financial Services Committee, Subcommittee on Domestic Monetary Policy, US House of Representatives.

As worldwide organizations, big and small, continue to adopt "green" business practices, IBM's Steve Kloeblen and Florence Hudson sat down with a class of MBA students in Stern's "Leading Sustainable Enterprises" course, taught by Professor Frances Milliken, to share some insight into the company's corporate culture and recent work in the area of sustainability.

At the NYU Stern Salmon Center conference on “Bankruptcy and the Financial Crisis,” Kansas City Federal Reserve Bank President Thomas M. Hoenig spoke out against the government’s current stance on large financial institutions.

As panic surrounding the spread of swine flu heightens following the World Health Organization’s declaration of a global pandemic, many may be fooling themselves into believing that their state or national border can provide protection from the virus, based on new research from NYU Stern on people's tendency to treat arbitrary political boundaries as safeguards.

The Society for Financial Econometrics (SoFiE), an international society founded by NYU Stern Nobel Laureate Professor Robert Engle and University of North Carolina Professor Eric Ghysels and housed within Stern's Volatility Institute, held its second annual conference and inaugural European conference in Geneva, Switzerland this June.

On June 8, 2009, NYU Stern Professor of Finance Viral Acharya, along with his colleagues Raghuram Rajan from Chicago Booth and Stewart Myers from MIT Sloan, received the III Jaime Fernández de Araoz Corporate Finance Award for their paper, “The Internal Governance of Firms.”

On June 4, 2009, a group of twenty people comprised of senior business and law faculty and business practitioners (and including among their numbers a small contingent of former senior government officials) was jointly convened by The Aspen Institute and New York University with support from Ernst & Young to discuss responses to the current economic crisis and to explore the role of financial market regulations in fostering economic recovery and growth.

On June 4, 2009, a group of twenty people comprised of senior business and law faculty and business practitioners (and including among their numbers a small contingent of former senior government officials) was jointly convened by The Aspen Institute and New York University with support from Ernst & Young to discuss responses to the current economic crisis and to explore the role of financial market regulations in fostering economic recovery and growth.

On Wednesday, June 3, Lawrence White, Professor of Economics and Deputy Chair of the NYU Stern Economics Department, testified before the US House of Representatives Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises, Committee on Financial Services.

Sinan Aral, NYU Stern Assistant Professor of Information, Operations and Management Sciences, has been recognized by the National Science Foundation (NSF) with its Faculty Early Career Development Award (CAREER). As part of this award, he will receive $475,000 to support his latest research.

NYU Stern announced that Eric Dinallo, Superintendent of the New York State Insurance Department, will join the faculty as the Henry Kaufman Visiting Professor of Finance. Dinallo will teach an MBA course in the Markets, Ethics and Law Program, beginning with the fall 2009 semester.

Having regulated CEO pay in firms that have received bailout money, the Obama administration is now in serious discussions about overhauling compensation practices across the entire financial services industry.