Experience Stern | News & Events

Excerpt from BBC News -- "'We are now in the early stages of a different model of organising economic activity,' says Prof Arun Sundararajan at New York University. Indeed he argues the sharing economy taps into a basic human need. 'We are wired for social connection. The appeal [of sharing] is to integrate some semblance of human interaction into our economic activities.'"
 

Excerpt from Project Syndicate -- "...in an environment of low long-term interest rates and deficient short-term aggregate demand (which means there is little risk of crowding out the private sector), it is a mistake not to relax fiscal constraints for investment. In fact, the right kind of public investment would probably spur more private-sector investment. Identifying such investment is where today’s debt debate should be."

Excerpt from Vox -- "Evidence suggests that failure to recognize luck's role in success increases tax resistance by reinforcing the natural sense of entitlement to income produced by the fruits of one's own labor."

Excerpt from Chief Learning Officer -- "Baruch Lev, director of the Intangibles Research Project at New York University Stern School of Business, has stated that 'people are the most important asset of most companies.'"

Excerpt from Clear Admit -- "'There is no other textbook on business and human rights out there, which we viewed as a major gap in the literature,' says Baumann-Pauly. 'We want to push business and human rights teaching at business schools in general, and having a book out there helps us start those conversations.'"

In his address, Mr. Immelt will reflect on the global economy and the evolving role of organizations in a world that is more connected and that presents unique challenges and opportunities.

Excerpt from Poets & Quants -- "This year’s slate also includes some star power. New York University has brought out the big guns, landing General Electric CEO Jeffrey Immelt as its speaker."

Excerpt from RT -- "Lazy investors and lazy analysts get exactly what they deserve. Nobody forces anybody to use pro forma statements. We use them because it fits our preconceptions. So as Valeant was climbing from 50 to 60 to 80 to 100 to 120 to 140, a lot of people were looking for reasons to buy it. And what those accounting numbers did--remember they still were reporting the GAAP numbers. They were also reporting the pro forma numbers and the cash earnings per share. But those are almost add-ons. Investors chose to latch on to whatever number they thought would give them a justification for buying the stock."

The NYU Urban Seminar Series focuses on research with implications for urban policy.

Excerpt from BusinessBecause -- "It is not just enterprise cloud specialists that are snapping up business school graduates for cloud computing roles, but tech groups like Facebook, and Google, whose business models rely on data. 'They created cloud computing, and now they are collecting rents on it,' says Vasant Dhar, Professor, NYU Stern and the Center for Data Science."

Excerpt from Clear Admit -- "Candace Lee, a dual-degree MBA/MPA student at NYU Stern School of Business who will graduate this spring, told her employer the same week she decided where she was going. She was a managing director at a small market research firm, so her boss also happened to be the president of the company. 'I’d worked very closely with him and knew that when I left three months later, there would be a non-minor impact on other people, so I wanted to give people as much of a heads up as possible,' she says."

Excerpt from The Economist -- "Mr Greenberg also looked how much MBAs who tapped their network earned. Counterintuitively, job offers from connections brokered through alumni paid $15,000 lower in starting salary than those who were offered a job after an on-campus recruitment event. Job offers from closer connections—friends and family members—were even more miserly, putting paid to the concept that it’s who you know, not what you know. Closer connections do not equal better initial compensation."

Excerpt from The Times of London -- "'The pessimistic view of Rana Plaza is that little has changed. The optimistic view is that Bangladesh is a turning point for the low-end garment industry,' says Labowitz. 'Certainly, there is a change of consciousness in fashion. The question is, how do you impose rules on a system that has been without rules?'"

Excerpt from Fortune -- "Is it better to be lucky or good? That’s the timeless question posed by New York Times economics columnist Robert H. Frank, made more pressing in today’s era of growing inequality. Frank comes down on the side of kismet."

Excerpt from the San Francisco Chronicle -- "Sundararajan said ride-hailing companies such as Lyft and Uber have to employ nonprofessional drivers. And at Airbnb, he added, everyday people are converted into part-time hoteliers. 'Munchery and Sprig aren’t converting hobbyist home cooks into commercial chefs. They’re simply creating a bigger market for professionals.'"

Excerpt from The Boston Globe -- "These workers may want the benefits that come with regular full-time jobs while maintaining the ability to work whatever hours they choose, said Arun Sundararajan, author of the upcoming book 'The Sharing Economy: The End of Employment and the Rise of Crowd-Based Capitalism.' 'You’ve got this Faustian bargain: You either get the flexibility or you get the benefits,' said Sundararajan, a New York University professor. 'All we’ve got to do is come up with a funding model that allows both.'"

Excerpt from The New York Times -- "Over the last year, America’s professional intelligentsia has been placed under the microscope in several interesting ways. First, a group of prominent social psychologists released a paper quantifying and criticizing their field’s overwhelming left-wing tilt. Then Jonathan Haidt, one of the paper’s co-authors, highlighted research showing that the entire American academy has become more left-wing since the 1990s."

Exerpt from Austin American-Statesman -- "Experts said Whole Foods took too long to respond to the New York case by releasing an apologetic video featuring Mackey and co-CEO Walter Robb. The video felt awkward and didn’t go far enough, experts said. 'They waited a week before responding — in an era of 24/7 news coverage and endless social media, that’s an eternity,' said Irv Schenkler, clinical professor of management communication for New York University’s Stern School of Business. 'And the New York City market is the most intense media-centric of markets. So their surprise at the rate of coverage speaks to an unusual lack of media savvy.'"

Excerpt from Reuters -- "The vast problem remains that only a fraction of garment factories are even covered by protections currently intended to be in place. The use of subcontracting in the garment industry is pervasive. According to our research estimates, more than 30 percent of garment producing facilities in Bangladesh are producing off the radar and without government or private oversight. Workers in these often smaller facilities therefore remain unprotected and invisible to regulators. It is essential that we increase supply chain transparency in order to be able to bring all garment producing facilities under appropriate safety programs."

Excerpt from Reuters -- "'You have about 200 brands working together, and there's definitely more transparency, more attention to the issue of human rights in the global supply chain,' Sarah Labowitz, co-director of the Center for Business and Human Rights at the NYU Stern School of Business in New York, told the Thomson Reuters Foundation."

Excerpt from Fortune -- "Firms that place sustainability at the core of their business strategy will drive positive climate performance, create wealth while creating competitive advantage, reduce risk and create stable ecosystems that drive both ecological and corporate value."

Excerpt from The New York Times -- "A stalemate over who will pay for safety upgrades and oversight to those factories has left many workers still in danger, according to Sarah Labowitz, lead researcher of the report, 'Beyond the Tip of the Iceberg: Bangladesh’s Forgotten Apparel Workers.' ... 'Bangladesh should enforce its own labor laws and protect its own citizens and workers but I think they lack the political will and capacity to do that. The question for everybody, including brands, is what do you do in the absence of local government enforcement and regulation,' she said."

Excerpt from the Financial Times -- "Frank’s argument in Success and Luck is easily summarised: the idea of meritocracy and the assumption that successful people get where they are solely by dint of their own efforts disguise the extent to which 'success and failure often hinge decisively on events completely beyond any individual’s control'."

Excerpt from the Harvard Business Review -- "In crowdfunding, however, women outperform men. My research with Jason Greenberg of NYU shows that, all else being equal, women are 13% more likely to raise succeed in raising money on Kickstarter than men. Further, we find that this success comes from the support of other women, and especially when the female project creators are operating in a male-dominated space, such as technology or video games."