Experience Stern | News & Events

Excerpt from CCTV -- "It's important to note this is a very long-term enterprise for China. They started SOE reforms in the 1990s, shed something like 25 million jobs. So this is not something for 2015, but something we'll see moving forward. The government's target is for 2020. What they can do now is start to put discipline on managers, and that's why they're trying to increase the amount of shares in Chinese SOEs that are publicly traded. They think they can use that as a tool to... influence managers to focus on profitability and to be more efficient with their asset use... Everything they do on that side is going to be very handy for the Chinese economy."
 

Excerpt from BusinessBecause -- "'Companies like MasterCard are competing for talent with other companies in the traditional tech space such as Facebook, Google, LinkedIn, Amazon, and Microsoft,' says Roxanne Hori, associate dean of corporate relations at NYU Stern School of Business."

Excerpt from Bloomberg -- "Edward Altman, the New York University professor who developed the Z-Score method for predicting bankruptcies, says defaults will breach the historical high next year and the Fed is the 'wild card' that has the power to determine how quickly the current credit cycle ends. 'We’re somewhere in the eighth inning of a nine inning game, but the score is tied so there’s a chance for extra innings,' Altman told a group of investors and analysts at an event hosted by the New York Society of Security Analysts last week."

Excerpt from TIME -- "Unfortunately for Turnbull, Australia’s slowdown is not the result of mismanagement at home: It’s a problem made in China. The two countries signed a free trade agreement just three months ago, though Australia’s parliament has not yet ratified the deal. But the Chinese economy—and its demand for Australian iron ore and other commodities—now appears to be slowing faster than expected."

Excerpt from MarketWatch -- "Schoenholtz said he thinks the Fed will stand pat and try to reinforce the message that rate hikes could occur later this year. When the Fed hikes rates, it seeks to tighten financial conditions, he noted."

Excerpt from Hot Topics -- "As the people running formal entrepreneurship education globally, here are the top 100 professors of entrepreneurship cultivating the leaders of tomorrow."

Excerpt from TheStreet.com -- "'In order to invest wisely in the stock market as opposed to gambling, you need to base your investment decisions on information,' Bartov said. 'Even tweets by individuals who may not have any special knowledge or advantage may be useful.'"

Excerpt from The Economist -- "Progress on the rule of law has been much more halting. Business in China would clearly benefit from a move to a fair and transparent legal system. Michael Spence, a Nobel prize-winning economist at New York University, points out that such a reform would improve the enforcement of contracts, encourage new entrants and help reduce financial fraud."

Excerpt from The Wall Street Journal -- "Even as the globalization story continues, however, an even bigger one is starting to unfold: the story of automation, including artificial intelligence, robotics, 3-D printing, and so on. And this second story is surpassing the first, with some of its greatest effects destined to hit relatively unskilled workers in developing nations… offshoring is often only a way station on the road to automation… In more and more domains, the most cost-effective source of labor is becoming intelligent and flexible machines as opposed to low-wage humans in other countries."

On September 9, 10 and 11, Professor Arun Sundararajan attended the World Economic Forum’s Annual Meeting of the New Champions (‘Summer Davos’) in Dalian, China. 

Excerpt from Vanity Fair -- "'We have created an incentive structure where C.E.O.s want to be stars,' Damodaran explained. 'To be a star, you’ve got to be the next Steve Jobs — somebody who has actually grown a company to be a massive, large-market cap company.' But, he went on, 'it’s extremely dangerous at companies when you focus on the exception rather than the rule.' He pointed out that 'for every Apple, there are a hundred companies that tried to do what Apple did and fell flat on their faces.'"

Excerpt from China Daily -- "Arun Sundararajan, a professor at the Stern School of Business of New York University, said: 'China is the biggest potential market in the world for the sharing economy,' adding that sharing platforms will lead to an increasing number of new businesses."

Excerpt from Poets & Quants -- "For me, one of the big things I take pride in is research and publications. One of the first things we instituted after I became dean was the Stern Program For Undergraduate Research, which really enabled our students to get first-hand experience with research projects."

Excerpt from Luxury Daily -- "'Today, because of social media, which are otherwise powerful marketing tools, our attention span gets shorter and shorter,' Ms. Serdari said. 'It is much more appealing to get someone’s attention with a very short and well edited film and do that several times over a long period of time rather than invest in long films that no one has the time to watch...In 14 short seconds one is drawn into the pulsating crowd of paparazzi and celebrities...,' Ms. Serdari said. 'It all develops through Ferragamo’s own penetrating gaze. He went, he saw, he conquered. Today, the brand stands where he once stood.'"

The NYU Stern Salomon Center for the Study of Financial Institutions and The Clearing House hosted the third installment of the Gallatin Lecture Series on Banking on September 10.

Excerpt from Bloomberg -- "'It was a series of short monologues with the camera focused on a single person only,” said Nicholas Economides, a professor of economics at New York University’s Stern School of Business. 'The crucial economic issues seemed to have been only touched at the surface.'"

Excerpt from Boston Globe -- "The meaning [of a name] is important, too, notes one of the study’s coauthors, Adam Alter, a psychologist at New York University’s Stern School of Business. 'We’re sensitive to associations — positive and negative — between any two concept,' Alter said. The effect 'is probably small, but it’s automatic and we’re unlikely to be able to avoid it completely when we consider people by their names.'... The name Trump carries a range of strong associations... As Alter points out, the word 'implies victory and dominance.' ... Trump himself may derive confidence from these strong, positive meanings to trumpet forth his own eloquence, Alter suggests — although he added, 'Of course the effect of [Trump’s] name is likely to be far weaker than the effects of his inherited wealth and self-assured personality.'"

Excerpt from The Wall Street Journal -- "Many of such projects could easily have been financed on the private market, according to Gary Friedland, who wrote the NYU paper with fellow professor Jeanne Calderon. 'It’s a profit enhancement,' he said. 'The original argument was more of a ‘but for’ argument,” in which EB-5 was meant to spur projects that wouldn’t otherwise have happened. “That focus has been lost."

Excerpt from LinkedIn -- "The top tier customer who is willing to spend $5k and up on a new Apple gadget is one who values both technology and design. The collaboration between the two brands responds to both these preferences. The Hermès customer (who may already own an Hermès watch among others) is the same customer who equips her life in all products Apple. She values the quality and taste of the French brand and wishes that all products were designed with such refinement."

Excerpt from Bloomberg -- "I think Google is leaking value to Facebook. If you look, Facebook now does a billion queries a day, versus Google's three billion. Google is basically one core brand that is doing very well. Facebook [has the] best acquisitions in tech; 20% of all mobile time is on now on Facebook... Facebook's going to be the most valuable company in the world within 3 years - it has meaningful relationships with 2.2 billion people."

Excerpt from The New York Times -- "Amazon invites its carefully selected talent to redefine the boundaries of possibilities and participate in turning an extraordinary vision into an extraordinary reality. Employee’s happiness is not written on Amazon’s flag nor is stable employment the Amazon holy grail. Customer centrism is...Visionary leaders and visionary companies often spend years in discomfort and difficulty, countered with a sense of purpose and resilience. Happiness, when experienced, is not about handling the hygienes, but instead, it’s achieved through exercising the vision, meeting the vision metrics and taking pride in realizing its tremendous value."

Excerpt from The Wall Street Journal -- "Steven Brown, a professor of finance at New York University’s Stern School of Business, urges caution in acting on the paper’s findings. 'I think there needs to be a lot more work done on this [hedge fund research],' he says. 'I would be careful about giving inexperienced funds large contributions.'"

Excerpt from Bloomberg -- "A more substantive reason to say no, [Karen] Brenner says, is that a candidate may get a bad feeling about becoming responsible for a company’s direction. 'They might ask questions and not feel right about the dynamics or challenges a company might face or if it's a good fit,' she says...The most important question, for the candidate, is whether he or she wants to be permanently associated with this company. 'People are pledging their reputation in this process,' Brenner says. “It’s really important that you do so in a way that you can be fully informed."

The NYU Stern Center for Global Economy and Business will host the Economic Outlook Forum on September 8, 2015.

Excerpt from Financial Times -- "There were other things too that Spain could have done differently, such as stronger 'macroprudential' limits on private borrowing. Philippe Martin and Thomas Philippon have demonstrated this alone could have prevented 4 percentage points of the 12 per cent fall in employment from 2008 to 2012; the same benefit as a more conservative boomtime fiscal policy."