Faculty News

Professor Brad Hintz discusses job cuts in the banking industry

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Excerpt from Bloomberg -- "The industry's restructuring. Actually, the entire financial services industry, relative to the GDP, is not going to be as large as it was. It'll be healthier."
Faculty News

Professor Irving Schenkler discusses Fox News' response to the sexual harassment case against Roger Ailes

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Excerpt from The Washington Post -- "Irving Schenkler, a clinical professor of management communication at New York University’s Stern School of Business, said many firms follow a standard protocol about who can speak to the media. Usually that’s someone in communications. Or, occasionally, a crisis public relations strategist. But 12 voices at once? 'It’s quite striking to see such a leaky corporate vessel in real time,' he said. 'This is not an example of well-calibrated managerial response to a crisis type of situation.'"
Faculty News

Paul Romer is profiled in advance of his new role at the World Bank

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Excerpt from Bloomberg View -- "Romer’s most famous academic work is the theory of endogenous growth, which he created in the 1980s and 1990s. The basic idea is that in order for tech to progress, society has to spend money, either via government research or corporate research and development. So there’s a natural feedback loop between the economy and technology."
Faculty News

Professor Alvin Lieberman suggests Rupert Murdoch may tap CNN's Jeff Zucker to lead Fox News

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Excerpt from the Financial Times -- "'Some people have been surprised at what Jeff has been able to accomplish at a difficult time for CNN,' says Al Lieberman, a professor who worked for Mr Murdoch in the early 1990s. 'Don’t be surprised if Murdoch turns around and talks to a guy like Zucker.'"
Faculty News

Professor David Yermack comments on top general counsels' compensation

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Excerpt from Bloomberg -- "Graff explained that companies, in addition to paying moving expenses and real estate commissions, will sometimes pay a relocation company to buy the house the GC is leaving behind, to smooth the transition. 'It’s fairly typical,' said David Yermack, who studies executive compensation at the NYU Stern School of Business. 'You’re not gonna lose a guy you really want over moving expenses.'"
Faculty News

Professor Alvin Lieberman comments on News Corporation CEO Rupert Murdoch's business strategy

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Excerpt from Financial Times -- "'[Rupert] doesn’t deviate much … the stance is we’re winning and it’s not broken, so don’t fix it,' said Al Lieberman, a professor at New York University who worked for Rupert Murdoch from 1985 through 1993."
Press Releases

NYU Stern’s Paul Romer Named the World Bank’s Next Chief Economist

Paul Romer
The NYU Stern School of Business today announced that Professor of Economics Paul Romer has been selected by the World Bank to become its next Chief Economist. Romer is currently the Director of the NYU Marron Institute of Urban Management, University Professor, and the Founding Director of the NYU Stern Urbanization Project.
Faculty News

Research Scholar Sarah Labowitz discusses accountability for the Rana Plaza factory collapse in Bangladesh in 2013

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Excerpt from The Christian Science Monitor -- "'It's typical for someone to be arrested and held in jail for an indefinite period of time but then quietly released. That hasn't happened in this case which I think is a good sign that there continues to be energy around accountability for the factory collapse,' Sarah Labowitz, a co-director of New York University's Stern Center for Business and Human Rights, tells The Christian Science Monitor. 'But we haven't seen resolution yet and many of those who are indicted are living abroad or have escaped Bangladesh, so will there ever be accountability for those people?'"
Faculty News

Professor Justin Kruger's joint research on cognitive bias is referenced

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Excerpt from Fast Company -- "In one experiment led by psychologists David Dunning and Justin Kruger, participants were asked to rate their abilities and offered a monetary reward if they were able to assess themselves accurately. In spite of that motivator, though, people still overestimated their skill level considerably. Try as we might, it appears many of us assume we're more competent than we are simply because we aren't aware of what we don't know. Even unintentionally, our own ignorance compounds."
Faculty News

Professor Vasant Dhar discusses the future of artificial intelligence

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Excerpt from The Wall Street Journal -- "As AI advances and more machines start making unsupervised decisions, companies will face tough questions about exactly when humans do or don’t need to be involved in decisionmaking. 'The consequences of mistakes at the moment are just unknown,' NYU’s Mr. Dhar said. The recent crash of an Autopilot-equipped Tesla shows the challenges of coordinating the behavior of humans and machines."
 
Faculty News

Professor Paul Romer is named Chief Economist of the World Bank

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Excerpt from The Economist -- "In [Romer's] 'endogenous growth' theory, new ideas materialise as firms invest in physical capital or research and development, creating knowledge that spills over to the rest of the economy. That suggests that open economies, with institutions that encourage investment in physical and human capital, ought to do best."
Research Center Events

Executive Education Short Course: Valuation

Aswath Damodaran
Taught by thought leader Aswath Damodaran, this program is for equity research analysts who are interested in examining alternative valuation approaches; corporate financial officers who want to understand the details of valuation for planned acquisitions or to gain value enhancement strategies for their firms; analysts involved in mergers and acquisitions who seek to acquire a wider repertoire of valuation skills; or portfolio managers who are interested in the effects of corporate restructuring on firm value, and the implications for portfolio management.
Faculty News

Professor Nicholas Economides illustrates why Apple has been accused of anti-competitive business practices

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Excerpt from Investor's Business Daily -- "'When you have an application of your own and you also control the distribution through the Apple App Store (of rival apps), that can easily raise anti-competitive concerns,' Nicholas Economides, a professor at New York University's Stern School of Business, told IBD."
Faculty News

Professor Richard Sylla comments on historical changes in the stock market

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Excerpt from CNBC -- "The Securities Act of 1933 and the Securities Exchange Act of 1934 dramatically increased the information that companies and stock dealers had to provide to investors. This reduced the risk premium accorded to stocks, and it allowed advocates like William Greenough of TIAA to make the case that equities belonged in long-term portfolios, given that investors could make informed decisions about which stocks to buy, Sylla argues. Further, the shift to earnings reports meant that investors could view earnings growth, rather than simple dividend growth, as a key component of future returns. This meant earnings were increasingly reinvested in the businesses rather than doled out as dividends, Sylla wrote in an email to CNBC."
Faculty News

Professor Jonathan Haidt's op-ed on the tensions between nationalism and globalism is highlighted

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Excerpt from The New York Times -- "...as the N.Y.U. social psychologist Jonathan Haidt points out in an outstanding essay in The American Interest, over the past several decades a different mind-set has emerged. People with this mind-set value the emancipated individual above the cohesive community. They value, or at least try to value, self-expression, social freedom and diversity. Their morality is not based on loyalty to people close to them; it’s based on a universal equality for all humans everywhere."
Faculty News

Professor Scott Galloway weighs in on Tesla stock

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Excerpt from US News & World Report -- "The excitement around Tesla, its brand, and its enigmatic, Tony Stark-like leader create more than just intangibles and billionaires talking their book, says Scott Galloway, founder and chairman at L2 Inc., a leading intelligence firm that benchmarks overall brand performance. 'You could argue that Tesla has access to the cheapest capital in the history of the automobile industry … it makes sense from a capital allocation standpoint' to take on expensive endeavors like the gigafactory. Galloway points to Tesla's price-sales ratio, which is 7.8, and notes that General Motors Co.'s (GM) P/S is a mere 0.3, making secondary offerings a less attractive way to raise money."
Press Releases

NYU Stern and L2 Debut Inaugural Digital Leadership Academy for Iconic Brands in Retail, Beauty, CPG and Luxury

NYU flags outside of the Henry Kaufman Management Center
NYU Stern School of Business and L2, a digital benchmarking firm founded by the School’s Professor of Marketing, Scott Galloway, held the first annual Digital Leadership Academy at Stern from July 13-14. The two-day event, featuring speakers from Stern, other leading business schools and L2, hosted C-level executives from some of the world’s most iconic consumer brands.
Faculty News

In an op-ed, Research Scholar Brandon Fuller discusses how the US can retain foreign entrepreneurs through immigration policy reform

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Excerpt from Niskansen Center blog -- "Each year, American universities educate hundreds of thousands of foreign students, many of them pursuing degrees in science, math, engineering, and technology—fields that are central to innovation and economic growth. Doing more to retain the exceptional foreign graduates who wish to stay in the United States—particularly those with a demonstrated ability to start new companies and create jobs—would be an unambiguous economic good."
Faculty News

Professor Petra Moser's joint research on Jewish refugees' contributions to science is referenced

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Excerpt from Bloomberg View -- "One of Adolf Hitler’s many blunders was to kick smart people out of his country. His hatred of Jews led him to expel a large number of Germany's most accomplished scientists, many of whom went to the U.S. What was a bane to Hitler’s reich was a boon to the U.S. Economists Petra Moser, Alessandra Voena, and Fabian Waldinger estimate that patenting increased by an average of 31 percent in scientific fields dominated by Jewish refugees. And of course everyone knows the story of how Jewish scientists were crucial to the U.S. atomic-bomb program."
Faculty News

Research Scholar Patrick Lamson-Hall comments on the influx of new apartment buildings being constructed in New York City

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Excerpt from The New York Post -- "There’s a chance these huge rentals will decrease density in their immediate vicinity — if they’re higher-income folks with smaller households or younger people without families, says Patrick Lamson-Hall, a research scholar at NYU’s Marron Institute of Urban Management. Still, he adds that nearby resources, like public transportation, could feel increased pressure from masses of residents."
Faculty News

Professor Jeffrey Carr is profiled

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Excerpt from mbaMission -- "As one first year we interviewed said of his experience at Stern, 'So far, the most impressive class has been "Marketing" with Jeff Carr,' adding, 'He's super engaging and makes you think more about the consequences of your actions in marketing than simply teaching you the tools. The class structure is very informal, but all of the students are learning a ton.'"
Faculty News

Professor Aswath Damodaran shares his views on Tesla's stock

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Excerpt from CNBC -- "The allure of Tesla and the danger of Tesla is Elon Musk. Elon Musk has made the company what it is today ... but I think he is the biggest weakness of the company. I think he's a great storyteller, but if you look at Tesla's lifetime, it always had trouble on execution. And I think the reality is Elon Musk is not as interested in execution as he is in telling you the big story."
Faculty News

Professor Samuel Craig comments on the entertainment industry landscape in the wake of AMC's acquisition of Odeon

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Excerpt from the Financial Times -- "Others caution the world of entertainment has changed dramatically, threatening the perceived safety of movie attendance. With the advent of digital streaming sites such as YouTube and Netflix, 'there are simply more options for people these days', said Sam Craig, a professor at NYU Stern."
Business and Policy Leader Events

L2/NYU Stern Digital Leadership Academy

L2/NYU Stern Digital Leadership Academy logo
The L2/NYU Stern Digital Leadership Academy, led by HBS, Tuck, Kellogg, McGill and NYU faculty and L2 researchers, is a two-day conference rooted in business fundamentals coupled with tactical sessions on digital topics.
Faculty News

Professor Baruch Lev's new book, "The End of Accounting," is reviewed

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Excerpt from CFA Institute -- "Lev and Gu seek, above all, to improve on GAAP’s measurement of value creation by focusing the proposed report on cash flows. In their system, companies would not only capitalize R&D but would also provide a breakdown separating research (i.e., the systematic pursuit of new knowledge) and development (i.e., the use of research to develop new products or processes). Additionally, a charge for the cost of equity capital would be deducted from cash flows. Where feasible, changes in values of major strategic assets, such as the present value of cash flows from proven oil and gas reserves, would be taken into account. "

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