Faculty News

Professor Itamar Drechsler's joint research on asset pricing is referenced

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Excerpt from ETF.com -- "In addition, Itamar Drechsler and Qingyi Drechsler, authors of the July 2014 study 'The Shorting Premium and Asset Pricing Anomalies,' found that about one-quarter of 'on special' stocks migrate into lower-cost buckets each month. In other words, underperformance tends to be fleeting."
Faculty News

Professor Christine Cuny and PhD candidate Svenja Dube's joint research on the impact of disclosure quality on the cost of municipal debt is featured

Excerpt from The Bond Buyer -- "In their research, presented at Brooking’s July 2017 Municipal Finance Conference, Cuny and Dube examined the relation between disclosure choice, changes in issuer credit ratings, and adverse local housing conditions. The 'results suggest that disclosure quality can lower the cost of debt by attenuating the impact of negative economic outcomes,' they said."
 
Faculty News

In an op-ed, Professor Michelle Greenwald shares insights from the Google Clips Camera development team

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Excerpt from Forbes -- "I was thrilled to recently discover what I consider a gold standard process by the Google Clips Camera development team. Key leaders of the development team Juston Payne, a former superstar MBA student from NYU Stern, who is product manager on the project, and Eva Snee, the UX (user experience) researcher, described what led to the new version, launched this past Friday."
 
Faculty News

Professor Ingo Walter is interviewed for a feature story on Wall Street's history and evolution

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Excerpt from Bloomberg -- "'The closeness [of financial firms] helped information flows—it was very efficient,' said Walter, who is the Seymour Milstein chair of finance and corporate governance at New York University’s Stern School of Business. 'Even after hours in the bars. Lots of information passed between people.'"
Faculty News

Professor Scott Galloway explains why Facebook should be subject to regulation

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Excerpt from CNBC -- "'Just as big tobacco was never able to make the connection between tobacco and cancer, and the NRA can't make the connection between gun sales and mass shootings, Facebook will never make the connection between the lack of safeguards and the risk to the commonwealth,' Galloway said Friday on CNBC's 'Squawk Alley.'"
Faculty News

Professor Robert Seamans discusses the Trump administration's plans to fund AI research and development

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Excerpt from the Associated Press -- "'It’s been a huge missed opportunity up until this point,' said Robert Seamans, a White House economist during the Obama administration who now teaches at the NYU Stern School of Business."
Faculty News

Professor Jeffrey Wurgler's joint research on the impact of investor sentiment is featured

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Excerpt from ETF.com -- "Over roughly the last decade, researchers have explored investor sentiment’s impact on markets. Malcolm Baker and Jeffrey Wurgler have even constructed an investor sentiment index based on six metrics: trading volume as measured by NYSE turnover; the dividend premium (the difference between the average market-to-book ratio of dividend-payers and non-payers); the closed-end fund discount; number of IPOs; first-day returns on IPOs; and the equity share in new issues."
Faculty News

Professor Arun Sundararajan is interviewed for a feature story on whether Airbnb has impacted New York City rents

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Excerpt from Fast Company -- "'You’ll find that only a very small fraction of current Airbnb listings could potentially be units that have been taken off the market,' says Arun Sundararajan, professor at NYU’s Stern Business School and one of the researchers on the study. 'They’re not going to take over large swaths of long-term housing because there’s just not enough demand for that.'"
Faculty News

Professor Pankaj Ghemawat's new book, "The New Global Roadmap," is reviewed

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Excerpt from Eurasia Review -- "Tackling these timely 'nonmarket issues' and more, this book is structured in two parts. Part One maps globalization to explain what is — and what isn’t — changing, with some numbers and maps to illustrate. Part Two offers strategies for managing globalization — including how to compete, where to compete, how to connect and the aforementioned nonmarket issues — i.e., 'anger and its management.'"
Faculty News

Professor David Yermack's research on the financial impact of Michelle Obama's fashion choices is referenced in a feature story on Meghan Markle

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Excerpt from BBC -- "'Obama mixes couture with items anyone can buy at a mall - she famously wore J Crew gloves while holding the Lincoln Bible at the Inauguration. Consumers flock to the stores, and even if they don't buy what she wears, they often leave with something else,' [Yermack] wrote."
Faculty News

Professor Nicholas Economides explains why a merger of T-Mobile and Sprint would not benefit consumers

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Excerpt from the Los Angeles Times -- "Nicholas Economides, an economist at New York University, said that for a market to be considered truly competitive, it should have at least 10 players. 'In the case of the wireless market," he said, "we're already talking about an oligopoly. So a merger would just make an even more concentrated oligopoly.' Going from four to three players, Economides said, 'makes it extremely likely prices will be higher.'"
Faculty News

Professor Amy Webb's remarks at The Wall Street Journal's Future of Everything Festival are highlighted

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Excerpt from The Wall Street Journal -- "Nine tech companies, including Alphabet Inc. and Tencent Holdings Ltd. , are largely deciding the direction of artificial-intelligence research and implementation, said Amy Webb, founder of the Future Today Institute. 'There’s no switch, and nobody is in charge,' Ms. Webb said."
Faculty News

Professor Robert Salomon is interviewed about Nestle's partnership with Starbucks

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Excerpt from Marketplace -- "The first thing that they get out of this is a cool 7 billion dollars...The ability to reach markets that they otherwise would not be able to distribute to and market in."
Faculty News

Professor Aswath Damodaran comments on early-stage companies using nontraditional metrics to determine their prospective profitability

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Excerpt from Barron's -- "...in the case of companies like WeWork, which is privately held, he thinks the problem isn’t the metrics but the fact that the company is issuing bonds in the first place. 'You should never be buying bonds in a start-up,' Damodaran says."
Faculty News

Professor Robert Engle discusses how increased tariffs would impact global trade

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Excerpt from CBC -- "Engle said much of the world economy is dependent on open access to world markets. 'If we start putting on tariffs, all these business arrangements are going to be disrupted,' he said. 'I think there is a big concern by the financial sector and the real economy that this would be very costly for everybody.'"
Faculty News

Professor Lawrence White shares his views on the recent jobs report

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Excerpt from Knowledge @ Wharton on Sirius XM -- "I see it as a very favorable strong report. Adding 164,000 jobs, that ain't chopped liver as my grandmother might have said, and the unemployment rate down to 3.9 percent...[the] lowest in almost 20 years, since the year 2000. The one puzzling thing is that the labor force participation rate went down. We would have expected with tighter labor markets for that participation rate to go up as employers reach deeper into the pool of the not-in-the-labor-force and try to train or accommodate or find employees in that labor group."
Faculty News

Professor Alixandra Barasch is interviewed about her joint research on how taking photos impacts experiences

Excerpt from PsychCentral -- "'I don’t say photo taking is bad or good because it depends on your goal,' says Barasch. 'If your goal is to focus on the visual, photography does a lot to draw you in. But if you are taking photos for other goals, you may be missing out on cues in your environment.'"
Faculty News

Professor Russell Winer is interviewed about how the NRA uses its TV network to garner support

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Excerpt from Dallas News -- "There are two persistent themes repeated on NRA TV that are classic marketing tactics — fear and patriotism, Winer said. Those are powerful signals to people who are already disposed to watching NRA TV. 'Obviously, not everybody feels, even among gun owners, that if you take away, say, AR-15s, there's going to be a slippery slope to killing the Second Amendment,' Winer said. 'But if you hammer it home relentlessly, you might have an impact on that group.'"
Faculty News

Professor Arun Sundararajan is interviewed about how a new California court ruling may impact workers and platforms in the sharing economy

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Excerpt from WIRED -- "New York University Stern School of Business professor Arun Sundararajan says the gig economy will survive, but prices will be higher, at least in California, and push companies to adopt more automation. 'It doesn't threaten the long-term viability of businesses as a whole, but I think it will shrink their market in the short term because it will decrease sales,' Sundararajan says."
Faculty News

Professor Scott Galloway discusses Apple's earnings and strengths as a brand

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Excerpt from CNBC -- "This is an incredible brand. It's a luxury brand that pulled the ultimate gangster move that created more shareholder value than any other business move. And that was the crazy irrational decision to reallocate money out of advertising and open stores."
Faculty News

In an in-depth interview, Dean Emeritus ​and Professor ​Peter Henry underscores the ​importance of free trade to drive global economic growth

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Excerpt from Bloomberg -- "We teach truth and we teach facts, we teach logic and right now, the key things we are talking to our students about in economics is number one, the world has gotten a lot better economically in the last thirty years because of free trade. So we got to continue to have open borders, we have to think about the fact that the U.S. economy is now roughly 25 percent of global GDP but only 5 percent of global population, that doesn't happen without free trade."
Faculty News

Professor Jonathan Haidt's work on viewpoint diversity is featured

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Excerpt from The Chronicle of Higher Education -- "Jonathan Haidt and Sean Stevens wrote in a pair of posts on the site in mid-March that concern is warranted and that attention should be paid to the younger generation of college students because of their changing attitude toward free speech on campuses. Haidt, who is a professor in the school of business at New York University, told The Chronicle on Monday that those who deny there has been a major shift in students’ attitudes have made a good contribution to the debate."
Faculty News

Professor Nicholas Economides argues that a merger between Sprint and T-Mobile would mean higher prices for consumers

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Excerpt from CNBC -- "I think the market got it right, that the deal is unlikely to be done. The deal is very likely to increase prices for all consumers and it's very likely that the Department of Justice is going to try to intervene and stop the deal. It's very hard to go from four companies to three companies without prices increasing."
Faculty News

Professor Michael Spence discusses the role public and private sectors need to play in helping people prepare for workforce changes

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Excerpt from McKinsey Global Institute -- "The other piece that I don’t think gets talked about enough is that the business side of this is really important. You can’t do this effectively—this is my judgment—if business thinks labor is just another input where the goal is to minimize costs, and you get rid of it when you can. That’s not the way it works in the societies and the economies that seem to be succeeding most with this."
Faculty News

Professor Anindya Ghose is interviewed about Flipkart's partnership with Walmart

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Excerpt from the Economic Times -- "'To anyone who was looking for a pure Indian ecommerce success story, this deal will be seen as a disappointment,' says Anindya Ghose, a professor at New York University. 'It indicates yet another failure of a primarily homegrown Indian firm (Flipkart, for all its foreign investors, is an Indian firm) to take on an MNC Amazon) and compete credibly without having to partner with another MNC (Walmart).'"

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