Faculty News
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In a co-authored op-ed, Professor Sabrina Howell examines whether venture-backed innovation is particularly vulnerable to economic downturns

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Excerpt from VoxEU -- "In the wake of the COVID-19 crisis, governments around the world have raced to buttress their economies (Baldwin and di Mauro 2020). National venture capital sectors have not been exempted: Canada, France, Germany, the UK, and many other nations have committed billions of dollars to shore up venture firms and the companies they fund."
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Professor Paul Hardart shares why he believes that filmmakers and television producers are well-suited to adapt to "new normal" regulations once the industry reopens for business

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Excerpt from Newsday -- “'Producers and productions crews are used to trouble shooting so I think they’re going to come up with various workarounds which is kind of how they’re wired,' said New York University professor Paul Hardart, director of the entertainment, media and technology program at the university’s Stern business school."
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Professor Tom Meyvis underscores how the coronavirus crisis has caused an increased reliance on technology and has left people craving hobbies that feel more real

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Excerpt from Yahoo Finance -- "Other people, now facing an increased reliance on technology, such as virtual meetings and online shopping, could be looking for something that feels real, said Tom Meyvis, professor of marketing at New York University."
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Professor Nouriel Roubini shares his perspective on the future of China's sovereign digital currency

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Excerpt from Abacus -- "Nouriel Roubini, a professor of economics at New York University's Stern School of Business, said the main problem, however, with the potential success of central bank digital currencies would be that they could disrupt the current system of traditional banking business of taking deposits to use the funds to extend loans."
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Professor Melissa Schilling's remarks on how Sundar Pichai may approach his position as CEO of Alphabet are cited

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Excerpt from InvestorPlace -- "Stern Business School management professor Melissa A. Schilling points out: 'As a professional manager, Mr Pichai will inevitably strike a more cautious stance than Google’s founders … We’re likely to see more risk aversion, and a move to make the company more ordinary.'”
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Professor Joseph Foudy comments in a story that examines the challenges cleaning service businesses are facing in the midst of the COVID-19 pandemic

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Excerpt from Pix11 -- "However, smaller companies that just do home cleaning in a given neighborhood do not have the option to simply move around their workforces. NYU Stern School of Business Economist Joseph Foudy is not so sure the commercial business will make up for loss of home cleaning revenue, especially with all the offices and schools closed during the lockdown."
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Professor Scott Galloway's comments on how science shows there is an arc to happiness are mentioned

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Excerpt from CNBC -- “'Science shows there is an arc to happiness. Specifically, it looks like a smile,' Galloway previously told CNBC Make It. 'So, your younger years, your childhood, your teens, your college years [and] young adulthood are the stuff of college football games, time with friends, sexual exploration, experimentation — a lot of great stuff. And, you’re taught that the world is yours for the taking and you believe it,' he said."
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Professor Arun Sundararajan asserts that the rise of delivery services doesn’t need to be at the expense of restaurants, noting that most of the successful businesses in the industry have active digital channels

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Excerpt from The Hill -- "But the rise of delivery services doesn’t need to be at the expense of restaurants, said Arun Sundararajan, professor at New York University Stern School of Business. 'A number of restaurants are going out of business. If you think about things through that lens, the restaurants that survive are likely to be the ones who were either doing a lot of deliveries through these platforms or turned to this channel and used it well,' he said."
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School News
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Recent alumnus Steven Avila (MBA '19) is profiled as part of P&Q's "Meet McKinsey’s MBA Class of 2019" series; he explains how the Stern community positively impacted his experience at the School

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Excerpt from Poets & Quants -- "There are many reasons to love business school, but I really enjoyed and appreciated the student engagement opportunities and community I found at Stern. New York City can feel like an intimidating place, but NYU Stern prides itself on the community aspect of the experience. As President of our Stern Student Government, I worked with professional clubs, affinity organizations, and individuals who were committed to improving our school and student experience. Between our academics, recruiting, and navigating the city, it amazed me to see how committed my fellow classmates were to creating a really special environment at school."
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Professor Amy Webb's recent comments on how leaders can create a state of readiness are featured

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Excerpt from CMS Wire -- "Last week during the MIT Sloan Disruption 2020 event, Amy Webb shared her view into the new normal and how it will disrupt business going forward. Webb was candid: 'Would I have known that a coronavirus at this point in time would have caused this amount of disruption — the answer is no. There is no way to build that kind of a model. However, should pandemics have been in someone’s strategic plan? The answer is yes.'"
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Professor Paul Zarowin explains why the Chinese IPO market is so alluring to investors

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Excerpt from MarketWatch -- "The huge Chinese market is just 'so alluring' to investors that they can’t turn down a chance to get a piece of it, even with the obvious high risks, said Paul Zarowin, a professor of accounting at the Stern School of Business at New York University. 'It’s an enormous market, [and] everybody wants a piece.'”
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Professor Tensie Whelan notes that brands have traditionally upcharged for sustainably labeled products, but the higher price tag is not necessarily reflective of actual production and supplier expenses

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Excerpt from Marketing Dive -- "'We've seen that you can stop pollution on a dime, you can clear up the skies overnight,' Tensie Whelan, director of the NYU Stern Center for Sustainable Business, told Marketing Dive in a phone interview. 'You can actually pour an enormous amount of money at a problem in ways that everybody's told us we can't.'"
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Faculty News
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Professor Paul Hardart is interviewed for a segment examining the road to recovery for New York City’s museums, galleries and other cultural institutions

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Excerpt from Pix11 -- "Paul Hardart with NYU’s Stern School of Business said smaller institutions without big endowments or fundraising bases will be particularly hard hit. 'When the revenue stops, the cost does not stop,' he said. 'There’s mortgages and taxes and upkeep. The challenge is the cost has remained and the revenue has disappeared.'"
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Professor Lawrence White weighs in on the future trajectory of UBS amid the coronavirus crisis

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Excerpt from The Hour News -- “'Until we come out of this economic decline, there’s going to be less need for investment banking,' said Lawrence J. White, an economics professor at New York University. 'I think the net effect is going to be adverse to UBS here in in the United States.'”
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Lord Mervyn King cautions that it would be a mistake for UK Finance minister Rishi Sunak to reduce the contribution the British government pays towards furloughed staff’s wages to 60% from 80%

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Excerpt from Reuters -- "Former Bank of England governor Mervyn King said he also supported an extension of the scheme. 'I hope that (Sunak) will extend these support schemes today to give businesses some comfort, needed comfort, over the next few months,' King told BBC radio."
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School News
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In a joint op-ed, Center for Business and Human Rights Research Director Dorothee Baumann-Pauly and Senior Program Manager Natasja Sheriff outline three steps fashion brands can take to help factories reopen safely

Excerpt from JustStyle -- "The reopening of factories is welcome and bitter at the same time. Many garment workers, mostly young women, need the income that their factory work provides and are fearful of losing their jobs. But they also know the risk to their lives and their loved ones if they return to work and contract the virus."
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Professor Nicholas Economides weighs in on how personal service providers can safely reopen as coronavirus lockdown restrictions are eased

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Excerpt from Pix11 -- "Unfortunately for Tanriverdi, economists like Nicholas Economides of NYU’s Stern School of Business, say personal service providers might be some of the last businesses that’ll open back up. 'The rational thing is to open factories where people can be far apart,' Economides said. 'Then go to industries with closer contact.'”
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In a story exploring the impact of the coronavirus crisis on hotels, Professor Arun Sundararajan explains why the industry could be facing a 50% of workforce cut over the next year

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Excerpt from Pix11 -- "'At least over the next six to 12 months I would not be surprised to see 50% of workforce cut,' said NYU Stern’s School of Business Arun Sundararajan. In recent years, New York City welcomed about 65 million visitors for business and tourism each year. Sundararajan said people will likely make different choices in the years ahead."
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Takeaways from Professor Thomas Philippon's book, "The Great Reversal," are spotlighted

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Excerpt from City Journal -- "NYU economist Thomas Philippon’s 2019 book, The Great Reversal: How America Gave Up on Free Markets, was motivated by his observation that European economies have advanced past the U.S. in—as his primary example—'home Internet access.' Citing a survey indicating that U.S. households paid about $66 a month for residential broadband while German households paid just $36, he asks, 'How did the U.S. . . . become such a laggard?'”
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Professor Sabrina Howell shares takeaways from her recent research which examines how private equity buyouts affect the quality of care in nursing homes

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Excerpt from The New York Times -- “'The quality of care declines after the private equity buyout, which seems to reflect staffing cuts,' said one of the report’s authors, Sabrina T. Howell, assistant professor of finance at New York University’s Stern School of Business."
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Stern is spotlighted for its top ranking on the UTD Top 100 Business School Research Rankings™ list, which tracks the productivity of b-school research faculty, and highlighted as 1 of 3 schools to make it into the top 10 worldwide rankings every year

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Excerpt from Yahoo Finance -- "New York University Leonard N. Stern School of Business (No. 2), Harvard (University) Business School (No. 3), The University of Texas at Dallas Naveen Jindal School of Management (No. 4) and Columbia (University) Business School (No. 5) round out the top five in both the Worldwide and the North American rankings."
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Vice Dean of MBA Programs JP Eggers explains how the flexibility built into the Langone Part-time MBA program supported a rapid pivot to online classes, citing the online Master of Science in Quantitative Management program as a model for the transition

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Excerpt from Poets & Quants -- "When coronavirus shut down campuses across the country, the part-time MBA program at New York University’s Stern School of Business was ready to pivot to all-online, says JP Eggers, vice dean for MBA programs. Students adapted well because of the flexibility built into the program, including three options for pursuing their degree. 'Flexibility,' Eggers says, 'is the defining characteristic of our part-time MBA program. Right from the start, students choose the program path that best meets their needs — the two-year accelerated option, weeknight option, or the Saturday option. They can put their program on hold at any time and resume when ready within a six-year limit, a choice that was available well before the coronavirus.'"

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Professor Hans Taparia is quoted in an article exploring how the COVID-19 pandemic is impacting the fast food industry and its workers

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Excerpt from Pix11 -- "PIX11 News asked NYU Stern School of Business’s Hans Taparia if working through these conditions would give them more leverage moving forward. 'I think the social justice efforts will pick up steam,” Taparia said. “But the corporation is getting more powerful… and with large unemployment the leverage shifts to the corporation.'”
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Research from Professor Henry Assael on consumer purchase decisions is highlighted

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Excerpt from Medium -- "According to Prof. Henry Assael of NYU, most consumer purchase decisions can be summarised as complex buying decisions, dissonance buying decisions, variety seeking decisions or habitual buying decisions."
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Professor Paul Hardart explains how The New York Times' decision to make most of its coronavirus coverage free to access has put its journalism front-and-center for a potentially new audience

Excerpt from Adweek -- "The Times, like other publishers, has seen an uptick in traffic to its coronavirus coverage. Also like other publishers, the Times has made a substantial amount of that coverage (including a live blog) available for free. It’s a way for the media organization to put its journalism front and center for a potentially new audience, said Paul Hardart, clinical professor of marketing at NYU Stern School of Business."
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