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The Righteous Mind - By Jonathan Haidt
In "The Righteous Mind: Why Good People Are Divided by Politics and Religion" (Pantheon, March 13, 2012), Professor Jonathan Haidt walks through the world of morality and politics. He explores why our political leaders cannot seem to work together and points the way forward to mutual understanding. Read More
—- Biography: Professor Jonathan Haidt
- Department: Business and Society Program Area
— Books
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Africa Calling: Listen Up! - By Anindya Ghose
After the recent global summit at Davos, many observers remarked how pessimistic they felt about the future of the world. Among the movers and shakers there, uncertainty reigned, about the US economy, about the European economy, and even about the economies of the emerging markets. The only beacon of hope was Africa. Read More
—- Biography: Professor Anindya Ghose
- Department: Information, Operations and Management Sciences
— Opinion
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E-mail Etiquette: More Critical than You Might Think - By Justin Kruger
New research from NYU Stern Professor Justin Kruger shows that all too frequently the gulf could not be wider between what a message sender intends and how that message is received. Read More
—- Biography: Professor Justin Kruger
- Department: Marketing
— Research Highlights
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Prof. Adam Alter on how our names can determine our success
Excerpt from Fox Business -- "People simply aren’t aware of the subtle impact that names can have on their judgments." Read More
—- Biography: Professor Adam Alter
- Department: Marketing
— Research in the News
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The Buzz That Works Best - By Sinan Aral
For online advertisers, creating a successful viral marketing campaign is like winning Olympic gold, especially if the buzz translates to sales. A new study by NYU Stern Professor Sinan Aral and Assistant Research Scientist Dylan Walker, published in Management Science, provides some clues on how to design the campaign most likely to go viral – and produce results. Read More
—- Biography: Professor Sinan Aral
- Department: Information, Operations and Management Sciences
— Research Highlights
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People with Easy-to-Pronounce Names are Favored - By Adam Alter
Having a simple, easy-to-pronounce name is more likely to win you friends and favor in the workplace, a study by Dr Simon Laham at the University of Melbourne and Dr Adam Alter at New York University Stern School of Business, has found. Read More
—- Biography: Professor Adam Alter
- Department: Marketing
— Research Highlights
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Prof. Thomas Philippon on banker compensation
Excerpt from the Financial Times -- "Take a look, for example, at the work by Thomas Philippon and Ariell Reshef, two US-based economists. They have researched trends in banker pay over the past 150 years and found that, in the early 20th century, financial sector pay relative to the rest of the private sector was roughly at parity ... " Read More
—- Biography: Professor Thomas Philippon
- Department: Finance
— Research in the News
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Prof. Hal Hershfield on retirement savings
Excerpt from a Wall Street Journal blog -- "One reason we don’t save enough for retirement, [Hersfield and co-authors] suggest, is that we think of the person who will be withdrawing from our IRA not as ourselves, just at a different spot on the timeline, but as separate people entirely." Read More
—- Biography: Professor Hal Hershfield
- Department: Marketing
— Research in the News
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Winning Investors Over - By Baruch Lev
Regaining the confidence of investors and the public is one of the most critical issues facing managers and executives in public enterprises today. In Winning Investors Over: Surprising Truths about Honesty, Earnings Guidance and Other Ways to Boost Your Stock Price (HBR, November 17, 2011), Baruch Lev, Professor of Accounting and Finance at NYU’s Stern School of Business, draws from his original research and that of other leading finance and economic scholars to provide managers with evidence-based strategies for avoiding capital market setbacks and riding them out when they do occur. Read More
—- Biography: Professor Baruch Lev
- Department: Accounting
— Books
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Prof. Viral Acharya on private equity's returns
Excerpt from The Economist -- "Higher debt has accounted for as much as 50% of private equity’s returns in the past, according to a 2011 study co-written by Viral Acharya of New York University’s Stern School of Business." Read More
—- Biography: Professor Viral Acharya
- Department: Economics
— Research in the News
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Upscale Brands Lag in Mobile Apps - By Scott Galloway
Luxury retailers have been super-slow to go mobile, according to a new study by digital think tank L2. That means consumers with Web-capable mobile devices are likely to be frustrated if they try to buy upscale products when they’re on the move. Read More
—- Biography: Professor Scott Galloway
- Department: Marketing
— Research Highlights
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The Fed as Inflation Targeter - By Kim Schoenholtz
Today, the U.S. Federal Open Market Committee (FOMC) announced a major update of its framework for setting monetary policy. Read More
—- Biography: Professors Kermit Schoenholtz
- Department: Economics & Center for Global Economy and Business
- Additional Links: NYU Stern Economics blog
— Opinion
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Prof. Priya Raghubir finds people spend more when carrying cash in smaller denominations
Excerpt from TIME -- "Raghubir and Srivastava’s results—what they’ve described in previous research as the 'denomination effect'—are consistent with an idea we’ve discussed several times: mental accounting. Small bills tend to get assigned to something like a mental petty cash account, and so we’re willing to spend them on petty things." Read More
—- Biography: Professor Priya Raghubir
- Department: Marketing
— Research in the News
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EU Privacy Rules Should Examine Intent, Not Require Consent - By Vasant Dhar & Arun Sundararajan
On Wednesday, January 25, the European Commission will require that companies secure explicit consent from consumers to use their personal information in new regulation that unifies privacy standards across the EU. Two NYU Stern Professors, Vasant Dhar and Arun Sundararajan, disagree with this recommendation. Read More
—- Biography: Professors Vasant Dhar & Arun Sundararajan
- Department: Information, Operations and Management Sciences & Center for Digital Economy Research
— Opinion
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Professor Edward Altman Launches Digital App for Renowned Z-Score, "Altman Z-Score Plus"
Forty-five years ago, NYU Stern’s Edward Altman created the Z-score model to assess a company’s credit risk and probability of default, a formula that became the gold standard for bankruptcy prediction among practitioners and academics. Now, in response to an increasingly global economic landscape and heightened demand for real-time information to manage risk, Altman has expanded his well-tested model and launched a new App, “Altman Z-Score Plus,” in partnership with Business Compass LLC. Read More
—- Biography: Professor Edward Altman
- Department: Finance
— Research Highlights
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Prof. Joel Hasbrouck on high frequency trading
Excerpt from Livemint -- "Joel Hasbrouck of New York University and Gideon Saar of Cornell University, after studying NASDAQ’s trading data in 2007-08, came to the conclusion that low-latency trading improves traditional market quality measures such as short-term volatility, spreads and displayed depth in the limit order book." Read More
—- Biography: Professor Joel Hasbrouck
- Department: Finance
— Research in the News
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Prof. Stephen Brown on hedge fund diversification
Excerpt from Financial News -- "Research produced by Stephen Brown, professor of finance at New York’s Stern School of Business, adds that investors should not try to protect themselves by diversification."
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Read More- Biography: Professor Stephen Brown
- Department: Finance
— Research in the News
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A paper by Prof. Edwin Elton on closed-end funds is highlighted
Excerpt from SmartMoney -- "[Elton] reckons the existence of closed-end funds is owed mostly to their effective use of leverage. " Read More
—- Biography: Professor Edwin Elton
- Department: Finance
— Research in the News
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Prof. Alexander Ljungqvist on the investment behavior of privately held firms
Excerpt from Slate -- "We evaluate differences in investment behavior between stock market listed and privately held firms in the U.S. using a rich new data source on private firms." Read More
—- Biography: Professor Alexander Ljungqvist
- Department: Finance
— Research in the News
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How to Put an End to Fannie and Freddie - By NYU Stern Faculty
It’s been over three years since Fannie Mae and Freddie Mac were placed in government conservatorships, effectively making them wards of the U.S. Treasury. Read More
—- Biography: Professor Viral Acharya, Professor Matthew Richardson, Professor Stijn Van Nieuwerburgh, Professor Lawrence White
- Department: Economics, Finance
- Additional Links: Guaranteed to Fail
— Opinion
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Pandit Should Learn a Lesson from Reed - By Roy Smith
Four years ago, in December 2007, less than 12 months after selling his hedge fund to Citigroup for $800m, Vikram Pandit became its chief executive. He replaced Charles Prince, appointed by the board in 2003 after the pressured resignation of Sandy Weill. Read More
—- Biography: Professor Roy Smith
- Department: Finance
— Opinion
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Sourcing the Bias in Credit Ratings - By Marcin Kacperczyk
Much of the blame for the financial crisis of 2008 has been laid at the door of the three dominant credit rating agencies (CRAs), largely because they were paid by the very institutions whose credit-worthiness they rated. But according to new research by NYU Stern Professor Marcin Kacperczyk, the story is more complicated. Read More
—- Biography: Professor Marcin Kacperczyk
- Department: Finance
— Research Highlights
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Prof. Paul Romer on charter cities as a solution for Asia
Excerpt from Forbes -- "So much of Asia still could use the kind of remedy U.S. economist Paul Romer has been promoting for a few years--'charter cities ,' or development zones with special streamlined laws (really just rule of law) and low taxes that let trade and commerce flourish." Read More
—- Biography: Professor Paul Romer
- Department: Economics
— Research in the News
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Prof. Deepak Hegde on venture capital investments based on ethnicity
Excerpt from Outlook Business -- "Research has shown that venture capital (VC) funds are more willing to invest in companies with executives that share the same ethnicity as the partners of the VC fund." Read More
—- Biography: Deepak Hegde
- Department: Management and Organizations
— Research in the News
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The NYU Stern Systemic Risk Rankings are highlighted
Excerpt from The Huffington Post -- "A recent study by NYU's Stern School of Business ranks BofA as the most systemically risky firm in the United States." Read More
—- Learn more about the NYU Stern Systemic Risk Rankings
— Research in the News
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Prof. Xavier Gabaix on consumer myopia
Excerpt from Kiplinger's -- "When I went from paying for the extras to buying just the bare-bones wash and saving a ton of money, I transitioned from being a myope to being a sophisticate, according to Harvard economics professor David Laibson and now NYU economics professor Xavier Gabaix." Read More
—- Biography: Xavier Gabaix
- Department: Finance
— Research in the News
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Nobel Laureate Prof. Michael Spence on US job creation
Excerpt from The Economist -- "If we go back and look at the paper by Michael Spence and Sandile Hlatshwayo on net job creation, we see that while non-tradable sectors have been responsible for nearly all of the economy's employment growth since 1990, the tradable sector has generated the bulk of the economy's increase in value added." Read More
—- Biography: Professor Michael Spence
- Department: Economics
— Research in the News
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Prof. Michael Jung on investors' access to management
Excerpt from the Economist Intelligence Unit -- "Bushee and co-authors Michael J. Jung and Gregory S. Miller define selective access as the opportunity for investors to meet privately with management in individual or small group settings at invitation-only investor conferences." Read More
—- Biography: Professor Michael Jung
- Department: Accounting
— Research in the News
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Learning from Failure – and Success - By J.P. Eggers
The proverb “failure is the mother of success” is half right when it comes to corporate initiatives. In new research, NYU Stern Professor J.P. Eggers found that firms learn valuable lessons from trying and failing to exploit familiar ground. But companies also learn valuable lessons from reaching out and exploring new territory – but only if they are successful. Read More
—- Biography: Professor J.P. Eggers
- Department: Management and Organizations
— Research Highlights
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Virtual Volunteerism - By Lee Sproull
If you always admired the Peace Corps but never quite managed to get your inoculations or a plane ticket, you can still pitch in to help the developing world – virtually. Read More
—- Biography: Professor Lee Sproull
- Department: Information, Operations & Management Sciences
— Research Highlights
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Prof. Marcin Kacperczyk on credit ratings
Excerpt from The Wall Street Journal blog -- "Mr. Hong, along with economists Kingsley Fong, Marcin Kacperczyk and Jeffrey Kubik, looked to what happens to credit ratings when a company loses an analyst as a result of a brokerage merger."
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Read More- Biography: Marcin Kacperczyk
- Department: Finance
— Research in the News
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Prof. Marcin Kacperczyk on sin stocks
Excerpt from SmartMoney -- "Some research has found that the best-performing stocks over long periods are in the 'sinful' categories like tobacco, says Marcin Kacperczyk, an assistant professor of finance at New York University's Stern School of Business." Read More
—- Biopgraphy: Professor Marcin Kacperczyk
- Department: Finance
— Research in the News
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Investors’ Access to Management: Size Matters - By Michael Jung
In perhaps another example of how difficult it is to regulate fairness and transparency in the financial world, big investors have an advantage over smaller investors when it comes to gaining access to top management. NYU Stern Assistant Professor of Accounting Michael Jung and two co-authors found that private, face-to-face interactions at invitation-only conferences organized by brokerage houses enable investors to ask top executives the specific questions that will help them develop and execute their strategies. Read More
—- Biography: Professor Michael Jung
- Department: Accounting
— Research Highlights
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Regulating Wall Street - By NYU Stern Faculty
Forty NYU Stern faculty, including editors Viral V. Acharya, Thomas F. Cooley, Matthew P. Richardson, and Ingo Walter, provide a definitive analysis of The Dodd-Frank Act, in a new book. Read More
—- Biography: Professor Viral Acharya, Professor Thomas Cooley, Professor Matthew Richardson, Professor Ingo Walter
- Department: Economics, Finance
— Books
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Prof. Paul Romer's charter cities concept is applied to Honduras
Excerpt from The Economist -- "The Honduran regions are modelled on a concept called 'charter cities' developed by Paul Romer, an economics professor at New York University. The principle is simple: take a piece of uninhabited land big enough for a city of several million, govern it by well-tried rules and let those who like the idea move there." Read More
—- Biography: Professor Paul Romer
- Department: Economics
— Research in the News
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Euro’s Fall May Doom All - By Matthew Richardson, Thomas Cooley & Kermit Schoenholtz
The eurozone financial system is at serious risk of collapse — which would mean calamity for the US system, too. But our government’s not prepared. Read More
—- Biography: Professors Matthew Richardson Thomas Cooley, & Kermit Schoenholtz
- Department: Economics, Finance, Center for Global Economy and Business, & Salomon Center for the Study of Financial Institutions
— Opinion
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Restoring Financial Stability - By NYU Stern Faculty
Introducing an independent view of the financial crisis, this book features executive summaries of 18 targeted and definitive White Papers authored by 33 NYU Stern academics that offer financial policy alternatives—and specific courses of action—to restore the global financial system. Read More
—— Books
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What Hamilton Can Teach Euro Zone - By Thomas Cooley, Matthew Richardson & Kermit Schoenholtz
A finger in the dike won’t solve the euro crisis.
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But, what would decisive political action look like? Here is one example:
Alexander Hamilton, the first Treasury secretary, argued strongly for “Assumption” – that the federal government should assume and honor the debts of all the states, financing them by issuing federal bonds and raising tariffs and excise taxes. Read More- Biography: Professors Thomas Cooley, Matthew Richardson & Kermit Schoenholtz
- Department: Economics, Finance, Center for Global Economy and Business, & Salomon Center for the Study of Financial Institutions
— Opinion
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Guaranteed to Fail - By NYU Stern Faculty
NYU Stern economists Viral Acharya, Matthew Richardson, Stijn Van Nieuwerburgh, and Lawrence J. White provides a rational analysis of how Fannie and Freddie collapsed and why housing finance in general is broken in their new book. Read More
—- Biography: Professor Viral Acharya, Professor Matthew Richardson, Professor Stijn Van Nieuwerburgh, Professor Lawrence White
- Department: Economics, Finance
— Books
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Paper Fortunes - By Roy Smith
In his new book, Kenneth Langone Professor of Business Roy Smith offers investors and average readers alike a better understanding of how the financial industry has grown and developed since the 1930s and what the future holds for Wall Street. An investment banker at Goldman Sachs for more than 20 years, Professor Smith provides an insider's look at the people who have shaped the US market economy for the last 60 years. Read More
—- Biography: Professor Roy Smith
- Department: Finance
— Books
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Prof. Bryan Bollinger on the diffusion of solar panels in California
Excerpt from The Washington Post -- "There’s a new paper out from Bryan Bollinger of NYU’s Stern School and Kenneth Gillingham of Yale finding that, in California, solar power seems to be contagious." Read More
—- Biography: Professor Bryan Bollinger
- Department: Marketing
— Research in the News
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Nobel Laureate Prof. Robert Engle on the NYU Stern Global Systemic Risk Rankings
Excerpt from CNBC Squawk Box -- "The rating has to do with the risk the company will go under. This risk has to do with whether they will go under when the economy tanks." Read More
—- Biography: Professor Robert Engle
- Department: Finance
- Additional Links: NYU Stern Volatility Institute
— Research in the News
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Research Scholar Robert Frank's book, "The Darwin Economy," is featured
Excerpt from TIME -- "In a remarkable new book, "The Darwin Economy," economist Robert Frank (a colleague of Tom’s at Cornell) explores how these sorts of arms races play out in myriad areas of economic life—and how we could create a more productive economy if we understood their nature and impact." Read More
—- Biography: Research Scholar Robert Frank
— Research in the News
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Watch the Economic Recovery in Real Time - By Thomas Cooley & Peter Rupert
NYU Stern Economics Professor Thomas F. Cooley and UCSB Economics Professor Peter Rupert created the Cooley-Rupert Economic Snapshot, which wraps up data in easy-to-read charts and succinct, plain-English discussions, delivering snapshots of the relevant factors in the economic recovery each time new data is available. Read More
—- Biography: Professor Thomas Cooley
- Department: Economics
- Additional Links: Cooley-Rupert Economic Snapshot
— Research Highlights
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Italy’s Debt Must Be Restructured - By Nouriel Roubini
It is increasingly clear that Italy’s public debt is unsustainable and needs an orderly restructuring to avert a disorderly default. The eurozone’s wish to exclude private sector involvement from the design of the new European Stability Mechanism is pig-headed – and lacks all credibility. Read More
—- Biography: Professor Nouriel Roubini
- Department: Economics
— Opinion
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Flight to Safety May No Longer Include America - By Viral Acharya & Heitor Almeida
While many might think the safe haven status of US Treasuries has expired, especially in light of Standard & Poor’s recent downgrade of US debt, corporate chief financial officers have not downgraded Treasuries just yet. Read More
—- Biography: Professor Viral Acharya
- Department: Economics
— Opinion
