Experience Stern | News & Events

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."

Excerpt from CNBC -- "'In every conceivable way this looks like a bad company, but at the right price, even a bad company could be a good investment,' he said in an interview with 'Closing Bell.' Valeant's problems include losing credibility with investors, delaying its financial filings and have a board of directors in 'flux,' [Damodaran] said."
 

Excerpt from Bend Bulletin -- "A professor of business management took it upon herself to untangle the evidence and published her theory in the recent edition of the Journal of Alzheimer’s Disease. New York University professor Melissa Schilling feels so strongly that pre-diabetes plays a role in many cases of Alzheimer’s that she’s asking all neurologists to test their dementia patients for glucose tolerance."

Excerpt from The Economic Times -- "Agreeing with the cab companies and other experts, Arun Sundararajan, professor at the Stern School of Business in New York, said, 'The nature of taxis is such that there will always be periodic supply and demand imbalances over the day. For a market-based platform like Uber, price changes are the way in which a supply of drivers is brought into the market when needed.'"

Excerpt from the Financial Times -- "In the 1920s, American finance also dazzled. Indeed, profits were so high that the economists Thomas Philippon and Ariell Reshef estimated that average banker pay was 1.6 times higher than other professions in 1928 (which, in a neat twist of history, was the same ratio seen in 2006.)"

Excerpt from the Los Angeles Times -- "'He [Hamilton] launched the financial system, he straightened out the government's finances,' said Richard Sylla, financial history professor at the NYU Stern School of Business. 'A lot of the good things about American history were due to what Hamilton did as treasury secretary. I think Americans weren't quite aware of that.'"

Excerpt from CNBC -- "'It is still not clear what is being offered in the auction, but I can almost guarantee you that it does not include cash on hand,' said Aswath Damodaran, finance professor at the Stern School of Business, who has owned shares of Yahoo. Damodaran initially valued Yahoo in 2014, calling the company 'a puzzle, a mystery and an enigma.' He found the core business was worth $4.6 billion and has declined in value since."

Excerpt from CrowdFund Beat -- "'In the future, donors will be a lot more circumspect and skeptical about putting in money, especially in projects where they could have even an inkling of an idea that this might be bought out by a tech giant like Google, Facebook, or Apple,' says Anindya Ghose, a professor at New York University who studies the crowdfunding sector. 'They do not believe in backing projects for financial, commercial reasons. For them it’s a lot about a cause or altruism.'"

Excerpt from Bloomberg -- "China’s decades of rapid development under tight Communist Party control may be coming to an end, according to Roy Smith, the New York University academic who as a banker in 1990 anticipated Japan’s decline. 'China has now arrived at an existential moment after nearly 40 years of extraordinary economic progress,' said Smith, who also warned about budding Japan-like financial strains ahead of the Chinese stock rout in 2015. The country’s 'increasingly complex and troubled economic and social system with all its scarcities' will make it tougher for Communist cadres to manage, he said."

Excerpt from Bloomberg -- "We can look back to the history of Wall Street, and if you look back, you had an industry that was a much larger, relative investment banking business--much smaller trading. So the issue that we have is the trading business, since the Crisis, have not been able to beat their cost of capital. You look at these banks and--how many years out are we since the Crisis--and we only have a couple of them who are operating above 10 percent ROE. The rest of them are all dragging down. And of course, you're seeing that in terms of the valuation."

Except from the Australian Financial Review -- "David Yermack, a professor at New York University's Stern School of Business, said blockchain could lead to far fewer banks and perhaps even remove the need for share-trading exchanges. It would render redundant millions of employees who execute and record financial transactions across banking, asset management and insurance, he said."

Excerpt from The New York Times -- "Responses aren’t necessarily driven by ignorance. 'Where there is a sacred value that empirical science contradicts,' science will have trouble making headway, notes Jonathan Haidt, a social psychologist at the Stern School of Business at New York University."

Excerpt from The Atlantic -- "Jonathan Haidt, who believes it has gone too far, offers a fourth theory. 'If an increasingly left-leaning academy is staffed by people who are increasingly hostile to conservatives, then we can expect that their concepts will shift, via motivated scholarship, in ways that will help them and their allies (e.g., university administrators) to prosecute and condemn conservatives,' he writes."

Excerpt from Luxury Daily -- "'For a fashion house, jewelry collections are brand extensions,' said Thomaï Serdari, Ph.D., founder of PIQLuxury, Co-editor of Luxury: History Culture Consumption and adjunct professor of luxury marketing at New York University, New York. 'These allow the brand to reach out to a broader audience whose interests are not focused on fashion exclusively and incentivize existing customers to spend more on brand extensions,' she said. 'While brand extensions may be priced to move the brand lower in the pyramid of luxury brands, in the case of Dior, its line of high jewelry is intended to reinforce the luxury status of the fashion house. In that sense, Dior’s jewelry collections are complementary to the creations of its fashion lines.'"

Excerpt from Bankrate -- "The thing that surprises Lawrence White, a professor of economics at NYU's Stern School of Business, about Bankrate's poll is that the number of worried investors isn't higher. 'I would have expected more people to have said, "Oh I'm more nervous about what the future holds, so that's going to make me more cautious about investing in the stock market,"' White says."

Excerpt from The New York Times -- "Three economists, Pierre-Olivier Gourinchas, Thomas Philippon and Dimitri Vayanos, examined the history of Greece’s debt boom and bust in a new paper. They contend that in terms of money borrowed and economic output lost, the Greek crisis has far exceeded even the classic emerging market busts in Latin America and Asia — many of which were resolved via various forms of debt restructuring. As a result, they conclude, the very thought that Greece can pay its way out of this mess without having its debt reduced in some way is fantasy."

Excerpt from Business Insider -- "'Banks don't want to put that down in writing because those are profitable businesses and anything they say about that could come back and be used by regulators to haunt them if some sort of downturn were to happen.' To Smith's mind, regulators want in writing that the banks would divest trading assets to the point that the firms would go back to the time of the Glass-Steagall act, which kept investing and commercial banking separate. Banks don't want to have the possibility of losing that profit and are trying 'to get through this without giving up anything they don't want to.'"

Excerpt from TopMBA -- "'Students look to and trust an alumnus from their school who ‘looks like them in three years’ to provide inside information about growth opportunities within the firm,' said Jason Greenberg, coauthor of the study and a management professor at NYU Stern with a particular interest in social networks. Indeed, when asked what led them to accept an MBA job offer, the number one choice in the sample was ‘growth potential’."

Excerpt from Kitco News -- "Abrantes-Metz was the economist for the plaintiffs gold and silver manipulation lawsuits. She is also one of the first researchers to publish a paper which highlights a decade of manipulation. 'As I discussed in your program [Kitco News] before with respect to gold, and the same applies to silver, the structure of these fixings and the empirical evidence were very telling in supporting collusion and manipulation. If we in fact learn that actually was the case, I would be the least surprised person out there,' she said in her email."

Excerpt from Today -- "'True happiness comes when you get three kinds of relationships right,' [Haidt] told TODAY. 'The one between yourself and others, between yourself and work or something productive and between yourself and something larger than yourself.'"

Excerpt from Bloomberg -- "Uber needs to show investors, who have given the company a valuation of $62.5 billion, that it’s capable of turning a profit at home if it intends to sink more money into Asia, says Arun Sundararajan, a New York University business school professor. 'The expectations on when Uber will hit profitability have a shorter clock on them because Uber’s valuation is so high,' he says. 'Lyft has a little more runway.'"