Faculty News

Professor Arun Sundararajan discusses the merits of ridesharing companies catering to children

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Excerpt from USA Today -- "'The basic business idea behind these companies is very good, but it’s going to take a particular company to make the model work,' says Arun Sundararajan, a professor at New York University’s Stern School of Business and author of The Sharing Economy."
Faculty News

Professor Richard Levich explains the role of CLS Group in preserving the financial exchange market during the financial crisis

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Excerpt from Financial News -- “During the crisis, CLS saved the day by making it safe for dealers to put up one leg of a deal and yet be content waiting to receive the second leg of the transaction hours later. It is thanks to CLS that the FX market did not freeze up after Lehman, which happened in other financial markets.”
Faculty News

Professor Kim Schoenholtz's blog post on the anonymity of cash is highlighted

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Excerpt from the Financial Times -- "The anonymity of cash helps to free people from their governments and some criminality is a price worth paying for liberty, as professors Stephen Cecchetti and Kermit Schoenholtz observe. It is better if the government creates trusted, anonymous notes and coins rather than some private agent."
 
Faculty News

Professor Aswath Damodaran comments on Uber and Lyft's departure from Austin, Texas

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Excerpt from The Boston Globe -- "'Uber and Lyft are spending more and more money to run in place,' [Damodaran] said. 'The alternative services are not going to do much better, either. The key in this business is finding ways to create barriers to entry and competitive advantages that eventually may help these companies charge higher prices.'"
Faculty News

Professor Richard Sylla reflects on the Dow Jones Industrial Average's 120th birthday

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Excerpt from The Atlantic -- "'The Dow is hardly a history of the U.S. economy. It is an index—unweighted—of the stock prices of a small number of America's largest corporations selected to represent the leading firms at particular times in our economic history,' explains Richard Sylla, a professor of economics at NYU’s Stern School of Business who studies the history of financial institutions."
Faculty News

Professor Jonathan Haidt's research on the consequences of awe is highlighted

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Excerpt from New York Magazine -- "'The consequences of awe should be of interest to emotion researchers and to society in general,' they wrote in the study, published in the journal Cognition and Emotion. 'Awe-inducing events may be one of the fastest and most powerful methods of personal change and growth.'"
Faculty News

Professor Viral Acharya discusses challenges in financial regulation

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Excerpt from Bloomberg -- "Viral Acharya, who works on financial stability at New York University’s Stern School of Business, said that while he’s much more worried about an economic collapse in China than he is about shadow banks, regulators aren’t yet focused on the issue. Risks -- such as short-term funding -- will always move from closely watched areas into the shadows. 'This has been the real problem of regulation,' he said. 'It’s always fighting the last war.'"
Press Releases

NYU Stern Tackles College Affordability with 34 New Full Scholarships for High-Achieving/Low-Income Students with its “Access Initiative”

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In just two years, NYU Stern has lifted the number of full scholarships from zero to 34 for high-achieving/low-income business students who are admitted to the School’s Undergraduate College. Named “The Access Initiative,” the effort marks a radical change in the School’s ability to open its doors to the most promising young people with extreme financial need.
School News

Stern's partnership with the Council of Fashion Designers of America (CFDA) is highlighted

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Excerpt from Vogue -- "Youssef and his fellow co-designers will move into the CFDA Incubator space in the Garment District this month and stay in their personal, low-rent studios and communal spaces through 2018. Prior to moving in, the designers completed a semester-long consulting engagement with MBA students at NYU’s Stern School of Business, and will continue to receive mentorship throughout their two-year residency from more than 50 fashion insiders."
Faculty News

Professor Scott Galloway discusses scrutiny of the tech industry

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Excerpt from Marketplace -- "'If Goldman is a giant face-sucking squid then Google and Facebook are Predator and Alien,' said Scott Galloway, a professor of marketing at NYU’s Stern School of Business. Both Silicon Valley and Wall Street are made up of powerful companies focused on shareholders. So both should fall under the same scrutiny, said Galloway."
School News

Stern's Access Initiative, which provides scholarships for high-achieving/low-income students, is featured; Dean Peter Henry is quoted

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Excerpt from Poets & Quants -- "I think there is an important conversation to be had among universities, policymakers and the business community to have a vested interest in making education more affordable. The Access Initiative is our effort to help bridge that gap and make sure every student who is qualified is able to attend business school regardless of their economic background."
Faculty News

Professor Lawrence White comments on ongoing litigation against big banks in connection with the Libor benchmark interest rate manipulation

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Excerpt from Reuters -- "'It strengthens the hand of investors in other price-fixing cases based on benchmarks that were reached in collaborative, or outright collusive, arrangements,' said Lawrence White, a professor at New York University's Stern School of Business."
Faculty News

Professor Nicholas Economides comments on the austerity measures recently approved in Greece

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Excerpt from Bloomberg -- "'The Greek parliament approved significant increases in taxes and reductions in pensions, which are likely to intensify the recession, and also approved selling a large swath of state assets to partially pay for its debt,' said Nicholas Economides, professor at Stern School of Business at New York University. The IMF and the EU are too far apart on the issue of debt relief to converge by the May 24 Eurogroup meeting, Economides said, 'therefore the likely outcome is an approval of an installment of the EU part of the Greek loan with the IMF’s position to be clarified at a later time.'"
 
School News

Senior Director of Stern's Office of Career Development Beth Briggs highlights the growing variety of job opportunities for MBAs

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Excerpt from TopMBA -- "Over the past few years, we have seen a growing diversity of companies coming to campus to recruit. One particular industry that is increasing MBA hiring of NYU Stern talent is technology. We are seeing more and more mature technology companies, such as Amazon and Google, participate in on-campus recruitment. Because we are in New York, we can also partner readily with growing tech firms such as e-commerce firm, Jet.com, and music streaming service, Spotify, to organize networking events and company visits. In addition, we are seeing increased interest from entertainment and media firms as well as luxury and retail companies, such as NBCUniversal, Time Warner, and Michael Kors. Similarly, we partner with companies in these sectors to organize networking events and information sessions to accelerate the connection between our students and these opportunities."
 
Faculty News

Professor Nicholas Economides comments on Greece's path towards debt relief

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Excerpt from Bloomberg -- "'The EU put again temporal political considerations above the long terms interests,' Nicholas Economides, professor of economics at Stern School of Business, New York University, said by e-mail. 'There is a real danger that, by the time decisions on Greek debt are made in 2018, interest rates would have risen sharply, eliminating any chance of eventual recovery for Greece.'"
Faculty News

Professors Theresa Kuchler and Johannes Stroebel's co-authored research on the influence of friends on housing decisions is featured

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Excerpt from CityLab -- "For respondents who report that they regularly talk to their friends about whether property is a good investment, we find a strong relationship between their friends’ house price experiences and their own assessment whether property in their own zip code is a good investment."
School News

Beth Briggs, Senior Director of Stern's Office of Career Development, discusses her role and MBA career trends

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Excerpt from Clear Admit -- "We still have many top companies who partner with us and hire strong numbers of students every year. In fact, that list of companies is growing year over year. And it’s increasing in the tech space. Google and Amazon, in particular, have been increasing their hiring of Stern students, which is terrific. But we also have more and more students looking to do unique kinds of things outside of more traditional MBA recruiting. Because we have alumni in all kinds of interesting places, we are able to connect them."
Faculty News

Professor Vasant Dhar's work on artificial intelligence is highlighted

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Excerpt from NPR -- "To see how quickly the rising tide of 'effective AI' may smash into daily life, consider the legal ramifications of machines behaving in ways we don't understand. How do we create regulations (i.e. robot law) when the possibility of robot decisions we don't understand must be included. As Dhar asks, 'Who is responsible for the actions of a robot that designs itself and learns to get better over time?' Better yet, who is responsible if a network of robots, acting in a way consistent with their design, carries out actions that turn dangerous — or even deadly?"
Research Center Events

New Research & Outlook on Credit Markets

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The NYU Salomon Center and S&P Global Market Intelligence will co-host a conference on “New Research & Outlook on Credit Markets” on Tuesday, May 24. World class academics, distinguished practitioners, and regulators will provide their research and insights on the global credit market outlook and hot topic issues.
Faculty News

Professor Roy Smith comments on Donald Trump's relationship to Wall Street

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Excerpt from The New York Times -- "'His roots and connections on Wall Street are fairly shallow,' said Roy C. Smith, a former partner at Goldman Sachs who teaches finance at New York University."
Faculty News

In a co-authored op-ed, Professor Michael Posner identifies solutions for ending human rights abuses in the seafood industry

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Exerpt from CNBC -- "Eliminating forced labor in seafood is a monumental task that will require more from public and private actors. First, governments need to do more, both in consuming countries in North America and Europe, and in sourcing countries like Thailand. In the United States, Secretary of State John Kerry has launched an important new initiative, the Our Ocean Summit, aimed at protecting ocean resources. This initiative dovetails with new standards proposed by the National Oceanic and Atmospheric Administration to include data reporting to ensure seafood traceability from harvest to import."
Faculty News

In an op-ed, Professor Michelle Greenwald highlights R/GA's newly redesigned office space

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Excerpt from Forbes -- "To increase casual interactions, everyone enters on the 12th floor. The first impression to hit you is the positive and productive energy—people seem genuinely happy. At the center of the top floor is a café and cafeteria, in some ways the heart of the office, with tables scattered around for drinking, eating, and impromptu meetings. Thirty screens mounted high around the center perimeter feature photos of the talent teams that work on each account, rotating along with client names and creative work highlights."
Faculty News

In an in-depth interview, Professor Arun Sundararajan discusses his research on the sharing economy

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Excerpt from Pew Research -- "The reason why all the regulatory scrutiny [thus far] has been from city agencies is because the most salient services involved – mobility and accommodation – have historically been governed at the local level. As I discuss in my book, there’s a misfit between regulatory interventions that were necessary in the past and the new models. So the conflict isn’t surprising. Nobody’s in the wrong – it’s just that we need to rethink and reinvent regulation, rather than trying to retrofit."
 
Faculty News

In an op-ed, Professor Nicholas Economides examines Greece's economic path forward

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Excerpt from Kathimerini -- "The IMF and the US now state that the Greek debt is unsustainable after its increase by 87 billion. With the July 2015 memorandum, the IMF proposed an extension of maturities of Greek obligations to Europe and a significant extension of the grace period in which Greece does not pay interest."
Faculty News

Professor Jonathan Haidt discusses how Facebook exacerbates human tendencies towards tribalism

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Excerpt from The New York Times -- "They’re not so much agents as accomplices, new tools for ancient impulses, part of 'a long sequence of technological innovations that enable us to do what we want,' noted the social psychologist Jonathan Haidt, who wrote the 2012 best seller 'The Righteous Mind,' when we spoke last week. 'And one of the things we want is to spend more time with people who think like us and less with people who are different,' Haidt added. 'The Facebook effect isn’t trivial. But it’s catalyzing or amplifying a tendency that was already there.'"

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