Experience Stern | News & Events

Excerpt from The Wall Street Journal -- "'This shock is going to cause a very large amount of economic damage,' said Michael Spence, a professor of economics at NYU’s Stern School of Business. 'A lot of these policies are essentially moving that damage to the sovereign balance sheet. It’s not that anybody thinks it’s ideal, but it may be better than leaving it lying around in the business sector or in the household sector.'"

Excerpt from The Wall Street Journal -- "'If a venture-backed company either can’t survive this pandemic or can’t convince investors to put in more money to hold on to employees, then either they should be laid off or the business should be shut down,' added Mr. Galloway. 'Every bailout leads to moral hazard, which leads to a bigger bailout later.'"

The NYU Stern School of Business and Uber Technologies announce the release of a new paper, “COVID-19 and Digital Resilience: Evidence from Uber Eats.” The study establishes that digital platforms enabled restaurant survival during the COVID-19 lockdown by providing critical continuity in access to customers.

Excerpt from BBC -- "Still, blending elements of a traditional shop with digital technology, safety and convenience could create a unique niche in the market. 'Maybe the answer is: you can touch and feel a product without having to actually go to a traditional, [crowded] store,' says Anindya Ghose, a professor of business at New York University. 'All [Grocery Neighbour] needs to do is figure out one hook that is really appealing to consumers where it’s no longer a want but a need.'"

Excerpt from NBC News -- "'What’s going on in Hong Kong lays bare what the Chinese system really is all about. They are repressing the most open corner of China,' said Paul Barrett, deputy director of New York University’s Center for Business and Human Rights."

Excerpt from The International Economy -- "Many advanced economies, especially those in Western Europe, as well as China, will face a version of this disease in the next decade or so. They too have high government debt and aging populations.These countries need to redesign pension and healthcare systems to manage the wave of people that everyone knows is coming. This will involve lengthening working lives, increasing saving, encouraging female employment and immigration in places where it is low, and possibly reducing the generosity of planned benefits. Only then can we maintain standards of living. Hopefully Japan will show us the way."

Excerpt from Seeking Alpha -- "'The biggest loss to Microsoft is the continuous antitrust scrutiny that does not allow it to make significant acquisitions in telecommunications and the Internet in the United States during the period of intense antitrust scrutiny.'"

Excerpt from The Grocer -- "Consumers prefer sustainable packaging and are buying more products with environmental credentials. Analysis by NYU Stern’s Center for Sustainable Business last year found market share growth of sustainability-marketed products was faster than their conventional counterparts."

Excerpt from Poets & Quants -- "'Passport Day is my favorite Stern tradition – and not just because it’s the day with the best food! Each year, student volunteers represent their heritage or country of origin at tables arrayed around a large tent in our plaza, serving food, wearing traditional dress, and sharing elements of their culture. Many student groups perform; highlights from last year included Chinese yo-yo, Argentine tango, and choreographed dances by the South Asian Business Society. It’s a wonderful community event where students can share part of their life experience outside the classroom and welcome partners and kids to share in the fun.' Rebecca Dewey, New York University (Stern)"

Excerpt from The Wall Street Journal -- "Perhaps the most systematic effort to quantify investor exuberance was conducted 20 years ago by Malcolm Baker, a finance professor at Harvard Business School, and Jeffrey Wurgler, a finance professor at New York University.

In research done in the wake of the bursting of the internet-stock bubble, they identified five variables for comparing investor sentiment at different points in time and showing how that relates to stock performance. A composite of those indicators shows that the current market is far less exuberant than in the late 1990s."

Excerpt from VentureBeat -- "Deepfakes are a major concern heading into the U.S. election this November. In a fall 2019 report about upcoming elections, the New York University Stern Center for Business and Human Rights warned of domestic forms of disinformation, as well as potential external interference from China, Iran, or Russia. The Deepfake Detection Challenge aims to help counter such deceptive videos, and Facebook has also introduced a data set of videos for training and benchmarking deepfake detection systems."

Excerpt from InsideHook -- "Dolly Chugh is an award-winning social psychologist at the New York University Stern School of Business, and her research-backed book, 'The Person You Mean To Be: How Good People Fight Bias,' is full of tools about how to stand up for others and change your behavior every day."

Excerpt from Business Insider -- "Milkman calls these costs 'exceptional expenses' that aren't really exceptional at all. The concept, she said, was explored in a 2012 paper by Abigail Sussman, an associate professor of marketing at the University of Chicago Booth School of Business, and Adam Alter, an associate professor of marketing at New York University Stern School of Business."

Excerpt from Yahoo Finance -- "And as NYU Stern School of Business assistant professor of marketing Alixandra Barasch points out, the small advertisers that make up the majority of Facebook’s advertising partners often can’t afford to leave the social network for other outlets. 'They are not going to be able to afford any kind of mass market advertising campaign, so they can’t go to TV, and they don’t want to,' Barasch explained."

Excerpt from Bloomberg -- "The pandemic has done more than gut revenue at retailers. It has disrupted the flow of goods to sales floors and forced the cancellation of high-end fashion shows that influence what styles consumers will buy next year. 'The supply chain is broken, the fashion calendar is no longer in place, and who wants to be out buying designer brands with all the social questions we’re asking ourselves right now?' said Thomai Serdari, who teaches luxury branding and marketing at New York University’s Stern School of Business. 'There’s too much happening at the same time. We have to rethink this industry.'”

Excerpt from Clear Admit -- "Students who choose to come to Stern’s MBA program develop the skills and mindset to embrace and drive change, and immerse themselves in an environment that fosters an entrepreneurial mindset. With our deep ties to industry, they gain access to the organizations and executives leading innovative solutions across global brands, nonprofits and startups throughout their MBA experience. For example, Stern Solutions experiential learning courses and projects give students opportunities to help a corporate partner solve a real business challenge in real time. Past partners have included Citi Ventures, the CFDA and BMW, to name a few. Students can also get involved with Endless Frontier Labs, a program at Stern for early-stage science and technology-based startups who apply from around the world, and through an affiliate course they can have a hands-on, front-row seat to learning how to scale a startup."

Excerpt from Forbes -- "Reflecting the modern role of the chief financial officer, the books these executives read focus on strategy, leadership, and problem-solving. Truly, finance chiefs priorities are making their organizations competitive to judge by their reading selections."

Excerpt from China Daily -- "Robert Engle, 2003 Nobel Prize laureate in Economics and a professor at New York University, made the comment during a video forum organized by the University of Science and Technology of China on Tuesday. The economist said the warning has been made by many scientists and he believes it to be so. He worries that the pandemic could be just a 'dress rehearsal' to more crises. This pandemic is highly associated with a zoonotic virus and with climate warming, such crises may become more frequent as animals migrate, said Engle, before he moved on to his lecture's focus on financial issues."

Excerpt from Yahoo Finance -- "Nouriel Roubini expects the near-term economic recovery from the coronavirus crisis to be relatively weak, the famed economist told Yahoo Finance in an interview, potentially giving way to an even deeper downturn further down the road. Until very recently, investors have been aggressively ramping up expectations of a ‘V-shaped’ rebound — until COVID-19 infections began surging nationwide."

Excerpt from CNBC -- "The question is how many companies ultimately sign up and how long does the boycott go on. If it turns out to be a one-month or even six-month affair, that's not going to bring Facebook to heel necessarily. If it turns out to be something more substantial, then Mark Zuckerberg will feel it in his pocketbook and conceivably make even more significant changes."

Excerpt from CGTN -- "To avoid this scenario, governments should establish mechanisms for large-scale debt restructuring. Tax deferrals and guarantee schemes have made governments creditors to a large number of small businesses. In a paper with Olivier Blanchard of the Peterson Institute and Thomas Philippon of New York University, we propose to let private creditors – primarily banks – know that governments will support decisions to restructure viable companies' debt and will participate in the resulting rescheduling or forgiveness of existing claims. Because governments value the positive impact of businesses' survival on all sorts of stakeholders, they should even let it be known that it will add a "continuation premium" to whatever private creditors do. This could save a lot of jobs."

Excerpt from Stanford Social Innovation Review -- "Financial markets run on the often-unspoken assumption that human beings make perfectly rational decisions that drive capital to the highest-performing enterprises. Indeed, the finance field promulgates an image of dispassionate investors who tirelessly comb through opportunities and seamlessly integrate information to optimize their portfolios."

Excerpt from USA Today -- "Edward Altman, the Max L. Heine professor emeritus of finance at New York University’s Stern School of Business, credits federal government stimulus, saying small business loans, stimulus checks and additional unemployment insurance have allowed people to avoid bankruptcy so far. 'But these measures are only temporary' Altman said. 'At some point, they’ll run out and personal bankruptcies will surge.' In the meantime, Altman believes corporate bankruptcy filings will continue to rise, and that 2020 will prove to be one of the busiest years since the Great Recession – especially for companies with more than $100 million in total liabilities."

Excerpt from CNN -- "Still, David Yermack, a professor at NYU Stern School of Business, argued the Hertz bankruptcy had little to do with its previous private equity ownership. 'It was inevitable that a firm like Hertz, which had grossly over-expanded, would have needed to restructure itself,' Yermack said. 'The rental car industry needed to shrink.'"

Excerpt from MarketWatch -- "Facebook’s change in policy highlights the increased pressure it faces in a nation roiled by pandemic and protests. 'The decision by Unilever to join the boycott of Facebook illustrates that the pressure is likely to increase,' said Paul Barrett, deputy director of the NYU Stern Center for Business and Human Rights."