Faculty News

Professor Robert Seamans is quoted in a feature story about the negative stories surrounding tech in 2017

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Excerpt from CBC News -- "For AI expert Robert Seamans, of New York University, the story that shaped 2017 was 'the evidence that Russia hacked the 2016 [U.S.] presidential elections.'"
Faculty News

Professor Aswath Damodaran is interviewed about recent criticism of index investors

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Excerpt from The Globe and Mail -- "'Put bluntly, investors are more aware than ever before that they are often paying active money managers to lose money for them and that they now have the option to do something about this disservice,' says Aswath Damodaran, a professor of finance at New York University."
Faculty News

Professor Russell Winer is interviewed about the intersection of politics and fashion brands

Excerpt from GQ -- "Russell Winer, a professor of marketing at NYU, frames the situation with the idea of 'brand hijacking': 'When a brand, through no active marketing of their own, happens to be picked up by a particular group,' he explains. The concept helps describe how a brand like New Balance, which quickly came out after neo-Nazi site The Daily Stormer claimed the shoes for white people to denounce 'bigotry and hate,' can lose a handle on its carefully curated image."
Faculty News

Professor Adam Alter underscores brick-and-mortar retailers' advantages over online retailers

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Excerpt from The New Yorker -- "'In part, it’s the distinction between browsing and searching,' Adam Alter, an associate professor of marketing at N.Y.U., said. 'You can’t browse online very well. There isn’t room for serendipity online.' There’s no thrill of the hunt when you can bring up something instantly on Amazon, but out in the world, as we browse the shelves at a bookstore or a record shop, we get a randomized reward similar to a gambling win when we find something that we suddenly have to buy, Alter said."
Faculty News

Professor David Yermack is interviewed about the growing interest in his course on cryptocurrency

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Excerpt from Forbes -- "'On college campuses, given how quickly these things are rising in value, there is an incredible curiosity about them,' Yermack says. 'There is the allure of the "get rich quick." This is capturing the imagination of university students.'"
Faculty News

Professor Arun Sundararajan assesses the impact of the EU's ruling that Uber is a transportation service on the company's operations

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Excerpt from NPR -- "So this was an anticipated ruling from the EU in deciding whether Uber was a digital platform or a transportation service. They came down on the side that Uber is a transportation service just like a traditional taxi service or a black car service. What this means is that all Uber drivers will have to be professional drivers. In all likelihood Uber's relationship with its drivers will have to change from contractors to them being full time employees and so it dramatically changes Uber's cost structure if it wants to operate in different European cities."
Faculty News

Professor Anindya Ghose offers insights on the startup sectors poised for growth in the coming year in India

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Excerpt from Quartz -- "'I will keep an eye out on startups that focus on various applications of AI, for example, in healthcare, banking, and education sectors,' Ghose said. 'I will also look out for startups that can use data from wearable devices to advance the treatment of chronic diseases, startups that use facial recognition for basic security, those that use deep learning for image processing, startups focusing on the internet of things, cloud technologies and the intersection of telecom players and ad-tech.'"
Faculty News

Professor Robert Salomon offers insights on how the new tax bill will impact how US corporations do business globally

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Excerpt from Bloomberg -- "It certainly will be good for corporate America, I am not sure how much of that will feed through to the broader economy. The theory has always been that if you allow the corporates to bring that stash, that cash that is stashed overseas, back to the United States, that they will invest in capital investment, they will boost economic growth, they will pass that off in increased wages to their employees. But what we have observed in the past is that when companies do bring that cash back from overseas, they generally tend to use it to pay dividends to their shareholders or to engage in share buybacks."
Faculty News

Professor Baruch Lev's joint research on the rising importance of intangible investments is featured

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Excerpt from The Economist -- “A company pursuing an innovation strategy based on acquisitions will appear more profitable and asset-rich than a similar enterprise developing its innovations internally.”
Faculty News

Professor Roy Smith is interviewed about CLSA Ltd.'s move to diversify its business model

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Excerpt from Bloomberg -- "It makes sense for CLSA to reduce its reliance on institutional broking, but success in areas like asset management isn’t guaranteed, said Roy C. Smith, emeritus professor of management practice at New York University’s Stern School of Business. 'Whether they can pull this off depends on the firm’s ability to execute a major business and cultural transformation,' he said."
Faculty News

Professors Richard Sylla and Paul Wachtel share their financial predictions for 2018

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Excerpt from WalletHub -- "Recessions tend to start after the Fed fights rising inflation by increasing interest rates. Interest rates are abnormally low now, so I see the Fed moving to normalize them at a faster pace in 2018. That could dim the economic outlook for 2019. ... [The Federal Reserve Open Markets Committee will raise its target rate in 2018] three times, and 2.25 percent."
Faculty News

Professor Arun Sundararajan underscores the growing need for a social safety net as non-traditional work arrangements increase

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Excerpt from NPR -- "I really think that one of the big public policy challenges of the next couple of decades, as I discuss in my book, is coming up with a new funding model in the United States and the UK, I was in japan last week they are facing the same problem, where we get away from this idea that the corporation is responsible, the employer is responsible for the bulk of the safety net and we come up with alternative ways because honestly in a couple of decades the majority of the workforce is not going to be full-time employees."
Faculty News

Professor Aswath Damodaran is interviewed for a feature story on Satoshi Nakamoto, the creator of bitcoin

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Excerpt from The New York Post -- "Aswath Damodaran, professor of finance at New York University, said, '[Nakamoto’s] on his way to being a billionaire now. He kept more than 10,000 bitcoins.' And he’s not surprised by the creator’s low profile: 'Bitcoin was designed by paranoid geeks for paranoid geeks.'"
Faculty News

Geeta Menon, Dean of the Undergraduate College, is quoted in a feature story recognizing Stern as a leader in global immersion programming for undergraduate students

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Excerpt from Poets & Quants -- "'Right from the get-go, people come in knowing fully well that global is a big part of what we do. And they start thinking about it from the freshman year,' Menon says. ... 'One of the things we’re really against is being a tourist,” Menon explains. “That’s not what it’s about. It’s about education. We take the coursework really seriously.'"
Faculty News

Professor Paul Hardart shares his views on Rupert Murdoch's strategy for Fox News after the sale of 20th Century Fox to Disney

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Excerpt from Politico -- "But Paul Hardart, a marketing professor at New York University’s Entertainment, Media and Technology program in its Stern School of Business, said he expected Fox to have 'less entertainment content in the near term.' Sports and news have been the main pillars holding up cable and broadcast television, he said, as the two types of programming viewers typically watch live and can’t fast-forward through commercials on. Murdoch, he said, is 'playing to his strengths.'"
Faculty News

Professor Arun Sundararajan shares advice on how consumers can navigate the sharing economy

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Excerpt from the Chicago Tribune -- "'Consumers who participate in the sharing economy just have to come to terms with the idea that this isn't like getting a service from a large, branded company,' explained Sundararajan. 'The responsibility for providing the service is split between the platform (e.g., Turo or Airbnb) and the provider (the individual renting out the product), and people need to get comfortable with who's responsible for what.'"
Faculty News

Professor Baruch Lev explains the Financial Accounting Standards Board (FASB)'s new revenue recognition standard

Excerpt from CFO -- "'It’s extremely important for investors to understand where topline growth comes from,' he said. 'Foreign exchange is mainly beyond managers’ control. Volume is clearly under managers’ control. Price effects are generally long-term, while M&A is frequently transitory. Some companies provide a partial breakdown of these effects, but there’s nothing secret about this information.'"
Faculty News

In a feature story on the demand for items worn by Meghan Markle, Professor David Yermack is interviewed about his research on the influence of Michelle Obama's wardrobe choices

Excerpt from Glamour -- "Mrs. Obama was pretty uniquely adept at mixing items from the Gap with higher-priced couture to appeal to everyone from millennials to middle-class moms. Consumers could imagine themselves in her clothes, which is harder to do with actresses you see on the red carpet…. she also changed designers frequently and had absolutely no favoritism with what she might wear on a given day."
Faculty News

Professor Scott Galloway shares his views on bitcoin's popularity with millennials

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Excerpt from CNBC -- "'It's basically young people saying they have no faith in our institutions,' Galloway told CNBC's 'Squawk Alley' Tuesday. 'As we lose faith in institutions, it goes up.'"
Faculty News

Professor Priya Raghubir's joint research on spending money with cash vs. credit cards is highlighted

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Excerpt from Bankrate -- "When you use plastic, you’re liable to spend more than when you just fork over cash. One study by Priya Raghubir and Joydeep Srivastava, published in the Journal of Experimental Psychology: Applied, found that participants spent 21 percent more preparing a Thanksgiving dinner when they used a credit card ($175) compared to cash ($145)."
Faculty News

Professor Menachem Brenner's joint research on ambiguity in financial markets is featured

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Excerpt from Bloomberg View -- "Our empirical findings support the hypotheses, showing that ambiguity significantly affects stock market returns. That is to say, investors act as if they consider the degree of ambiguity when they price financial assets. The findings provide strong evidence that individuals exhibit ambiguity aversion to favorable returns and love for ambiguity for unfavorable returns."
Faculty News

In a detailed Q&A, Professor Tensie Whelan outlines the business case for sustainable practices

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Excerpt from Global Finance -- "The financial case for sustainability is the high correlation between good environmental and social governance performance in a company and good stock performance, lower cost of capital and better operational performance. We don’t really know why, because companies are not tracking the ROI on their sustainability investments; although they do track operational efficiencies like energy savings."
Faculty News

Professor Menachem Brenner's joint research on ambiguity in financial markets is spotlighted

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Excerpt from The Wall Street Journal -- "Mr. Brenner, a early pioneer of volatility research whose work was profiled in The Wall Street Journal in March, and Mr. Izhakian are turning the concept into a gauge of current market conditions that they hope will be useful for market watchers. They came up with the measure by analyzing market returns in five-minute increments. Their research is due to be published in the Journal of Financial Economics."
Faculty News

Professor Aaron Tenenbein explains why a golfer's claim to have recorded more than 80 aces is statistically impossible

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Excerpt from the Golf Channel -- "If we take an amateur golfer who plays five rounds of golf a week over a two year period, the chance of getting sixty holes in one is less than one out of one trillion to the tenth power. He has a better chance of getting twenty straight royal flushes if he plays poker. It is basically impossible."
Faculty News

Professor Amy Webb offers insights on fake news

Excerpt from Mother Jones -- “There’s probably a strong case to be made that we are chemically addicted to fake news,” says Amy Webb, an author and futurist who founded the Future Today Institute. “When you’re seeing your angers and fears and anxieties being validated externally, you get a shot of dopamine.”

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