Experience Stern | News & Events

Excerpt from Bloomberg -- "'I've always felt that Lyft's lower valuation gives them a lot more options than Uber; they can lose money for a longer period of time,' said Arun Sundararajan, a professor at New York University's business school. 'Lyft has held its own and grown dramatically in the face of the Uber onslaught. So I think raising another round is probably easier for Lyft than it was in the last round, whereas for Uber, it's likely harder.'"

Excerpt from USA Today -- "... Zarowin of NYU says non-GAAP will continue to be entrenched in companies' filings. 'If they want to dress up their earnings — unless the SEC starts fining people in a big way, which I don’t really see — the firms will find a way to push the limits,' he says."

Excerpt from Portland Press Herald -- “When CEOs or board members or senior executives step into the breach to express purely personal opinions, they become lightning rods for an array of competing and contrasting interest groups. Some brands court controversy. But L.L. Bean? I don’t think so.”

Excerpt from TIME -- "First, as Europeans began to sell off their American stocks and bonds, he shut down the New York Stock Exchange on July 31, 1914, for nearly four months. 'If he hadn’t done that there might have been much more panic selling,' says Richard E. Sylla, a financial historian and professor emeritus at NYU Stern School of Business. 'That’s what his major accomplishment was — avoiding the potential for a much worse financial panic in 1914. The dollar weakened a lot, but thanks to McAdoo’s policies, it strengthened a lot by November.'"

Excerpt from USA Today -- "'Her flaw was that she should have recognized a few years ago that she was throwing good money after bad, and if she'd done so she would have likely got twice what she's getting now for Yahoo assets,' Damodaran says. In fact, Yahoo's stock topped out at nearly $52 in the fall of 2014."

Excerpt from The New York Times -- "Mr. Horton concluded that when forced to pay more in wages, many employers were hiring more productive workers, so that the overall amount they spent on each job changed far less than the minimum-wage increase would have suggested. The more productive workers appeared to finish similar work more quickly."

Excerpt from Quartz -- "'Uber wants to essentially use its API so other app developers can build their apps on top of it,' Anindya Ghose, director of New York University’s Center for Business Analytics, told Quartz. 'I see it as Uber’s attempt to broaden and diversify its presence.'"

Excerpt from New York Magazine -- "Dunning, a social psychologist, is one of the lead authors of 'Unskilled and Unaware of It: How Difficulties In Recognizing One’s Incompetence Lead to Inflated Self-Assessments,' an article in the Journal of Personality and Social Psychology based on the results of a study he and a student, Justin Kruger, conducted at Cornell in 1999. As the title suggests, what they found was the existence of a cognitive bias in which the less able people are, the more likely they are to overestimate their abilities."

Excerpt from The Times -- "'Between what he talked about on the campaign trail and what’s likely to come to pass, I think that under 50 per cent will happen, and possibly less than 25 per cent,' Robert Salomon, of New York University’s Stern School of Business, said. 'We’re still in the realm of rhetoric being translated into policy.'"

Excerpt from The Wall Street Journal -- "New York finance professor Viral Acharya, appointed a deputy governor of the Reserve Bank of India in late December, has been a vocal critic of capital measures that exclude share price information."

NYU Stern School of Business announced that Professor of Finance Viral Acharya has been appointed Deputy Governor of the Reserve Bank of India (RBI) by the Central Government of India. Professor Acharya will officially begin his three-year term of service on January 20, 2017. 

Excerpt from Forbes -- "What is the cost of shareholder activism? The impact of the stock market on investment has been quantified in a brilliant study by economists from the Stern School of Business and Harvard Business School, Alexander Ljungqvist, Joan Farre-Mensa, and John Asker, entitled 'Corporate Investment and Stock Market Listing: A Puzzle.' The study compared the investment patterns of public companies and privately held firms. The study found that 'keeping company size and industry constant, private US companies invest nearly twice as much as those listed on the stock market: 6.8 per cent of total assets versus just 3.7 per cent.'"

Excerpt from New York Magazine -- "Last year for this magazine, Andrew Sullivan wrote a long, moving essay about what he characterized as an 'information addiction,' in a piece somewhat terrifyingly titled, 'I Used to Be a Human Being.' In March, psychologist Adam Alter takes on the subject of behavioral addiction — why we’re so attached to our phones, and what, if anything, can be done about it."

Excerpt from the Tampa Bay Times -- "'With low interest rates, borrowing to make these improvements is an economics no-brainer, even if the politics are much tougher,' said Lawrence White, professor at New York University’s Stern School of Business."

Excerpt from Poets & Quants -- "Stern has a couple of different retail courses, a specific luxury marketing class as well, and a speaker series which Carr runs. 'At NYU Stern, we have a really strong understanding of our unique geographic advantage. New York is the fashion capital of the world. Anyone who’s anyone is here, whether they’re an American company or an Asian company. If you don’t have a presence here, you won’t make it globally,' Carr says. 'So given that everyone is here, we have a great opportunity to bring in speakers.' ... Li has taken several electives in the luxury marketing track already, including the experiential seminar, and believes that they’ve prepared her well for her internships. 'It really gave me a good sense of luxury retail operations, how the different functions play together to form the company and how the company would run on a day-to-day basis,' she says."

Excerpt from Marketplace -- "Medium's not in that league by any means, and it'll be an uphill battle for them to be able to incentivize people to pay for their content."

Excerpt from Kellogg Insight -- "As they combed through their data, the researchers discovered that Twitter was the most widely adopted social media site for corporations. They also learned that businesses that tweet could be broadly categorized into two types: those that tweet to market their products to consumers and those that tweet to create a dialogue with investors."

Excerpt from Bloomberg -- "'The Chinese financial services markets will not be easy to penetrate,' said Roy Smith, professor of finance at New York University’s Stern School of Business. 'Chinese connections, relationships, etc. will be hard to replace, plus there may be a resistance to using foreign banks except where they are expected to have a role, and even then growing capabilities of Chinese banks will enable them to increase market share.'"

Excerpt from The Native Society -- "There are endless ways to contribute to the world, and the world needs many sorts of talents. All I can do is try to find my own way to contribute. At this point, the one thing I’m sure of is that I draw strength from the people around me. I’m honored to be part of a discipline full of such dedicated and talented people. So I do my best to bring people together and make a whole greater than the sum of its parts. Part of that is being there when I’m called on in unexpected ways, being open to new things, and being willing to leave my comfort zone. I try to take a 'never say no' approach to work and life."

Excerpt from Poets & Quants -- "Williams’ philosophies are grounded in a successful career that includes designing over 100 products and holding 30 patents. Like any great teacher, Williams is simply looking to unlock and magnify the potential talents of his pupils. 'When students start believing that their fundamental purpose is to alter the status quo, rather than preserve it, their motivation and mindset starts to change,' he observes. 'They begin to see opportunities beyond what others have defined as limits.'"

Excerpt from Bloomberg View -- "Graduate student German Gutierrez and finance professor Thomas Philippon of New York University come to a similar place in their new paper, 'Investment-Less Growth: An Empirical Investigation.' They find a marked decline in corporate capital investment relative to profits and valuation, starting around the year 2000, and a big increase in payouts to shareholders (dividends and buybacks, although the increase has mostly been in buybacks)."

Excerpt from The Atlantic -- "The researchers, Stephen Brown, Yan Lu, Sugata Ray, and Melvyn Teo, began with a hypothesis about a psychological trait called “sensation seeking.” As they write, the trait is 'defined by the seeking of varied, novel, complex, and intense sensations and experiences, and the willingness to take physical, social, legal, and financial risks for the sake of such experience.' Major sensation seekers, in other words, are the sort of people who probably make for good Hollywood protagonists, and they are more likely to step outside the law. Among other correlates established by earlier research, people with the trait are less careful with spending and engage in risky driving. So when their disposable incomes start to swell, the researchers reasoned, they are more likely to stop by a Ferrari showroom than a Subaru lot."

Excerpt from the Financial Times -- "Limiting work used to be simple: it was just a matter of imposing shorter shifts. The seamless, addictive nature of digital communication makes it harder. But companies have a stake in realising 'how damaging social media and tech addiction can be', as Adam Alter, author of Irresistible, a forthcoming book on digital addiction, argues."

Excerpt from eFinancialCareers -- "David Kim will join the financial institutions group (FIG) in the investment banking division at J.P. Morgan after graduating with a B.S. in finance and management from New York University’s Stern School of Business, where he is the president of the NYU Stern Pride Corp and participates in the Inter-Club Council. He worked as a data analytics intern at Netsertive and a summer analyst at J.P. Morgan. ... Lauren Friedman will join RBC Capital Markets after graduating with a B.S. in finance and marketing from NYU Stern, where she participates in the marketing society, investment analysis group, undergraduate women in business and intramural basketball. She worked as a summer analyst at Moelis and Co. and RBC."

Excerpt from WalletHub -- "The question, therefore, is not only whether the diamond prices will continue to drop based on factors that determine the global economy, but also whether diamonds can still capture the imagination of consumers and whether these consumers are willing to pay premium prices for diamond jewelry."