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The Leonard N. Stern School of Business Graduate Convocation Ceremony took place on Thursday, May 23, 2012 at Radio City Music Hall.
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– Faculty News
Prof. Arun Sundararajan on the legal challenges presented by the sharing economy
June 24, 2013
Excerpt from TIME -- "'These are new models, and they don't fit into the old boxes,' says Arun Sundararajan, a professor at New York University's Stern School of Business who studies the sharing economy."
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Excerpt from Financial Times -- "Stern’s revamped course – mandatory for second-year MBA students – examines ethics through the lens of moral psychology. The goal is not to wag the finger but to show how even those with the best intentions can face ethical traps. ... Prof Haidt says his students’ careers are like an epic 'hero’s journey' – one in which they will be severely tested and challenged. Students must 'recognise that there are societal forces impinging on [them] all the time', and that 'in the long run ethical behaviour and high professional standards do pay'."
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– Faculty News
Nobel Laureate and Prof. Thomas Sargent on the US response to the financial crisis
June 13, 2013
Excerpt from BBC News -- "Many people worry that the way we've come out of the financial crisis is the governments in the United States and elsewhere have bailed out financial institutions which weren't even banks...insurance companies, money market mutual funds. So if those institutions now think that they're effectively insured, there's a danger that they're going to take... big risks, because essentially, they're gambling with the taxpayers' money. That's a badly designed system."
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– Faculty News
Prof. Dolly Chugh's research on the treatment of women in the workplace was highlighted
June 13, 2013
Excerpt from The Times of India -- "'In India, I couldn’t help but notice how women were sidelined even in domestic decision-making. However, I observed that one of my uncles treated women with dignity, which reflected in the language he used even when women weren’t around. What set him apart was that his wife was a working woman. I wondered how having a working wife as opposed to a stay-at-home one influences a man’s psychology?' said Desai, who co-authored the study with Dr Dolly Chugh of New York University’s Stern School of Business and Dr Arthur Brief at the University of Utah’s David Eccles School of Business."
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– Faculty News
Prof. David Yermack explains the significance of 10b5-1 stock trading plans for executives
June 12, 2013
Excerpt from The Wall Street Journal -- "'The whole point of these plans is that if material events occur, as they inevitably will, the insider has an alibi against insider-trading accusations,' said David Yermack, a finance professor at the New York University Stern School of Business."
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Excerpt from Poets & Quants -- "'We're looking for people who not only have high I.Q., but really high E.Q. and emotional intelligence,' Stern's Gallogly says. 'It can bring a candidate to life in a different way.'"
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– Faculty News
Prof. Michael Posner on the United Nations' Guiding Principles on business and human rights
June 11, 2013
Excerpt from The Wall Street Journal -- “'We’re now at the end of the beginning of the process,' said Mike Posner, professor in the business and society program at NYU’s Stern School of Business and former assistant secretary of state in the Bureau of Democracy, Human Rights, and Labor, referring to the Guiding Principles broadly. 'Now the question is: what does this mean in very practical terms for specific companies, and how do you establish rules of the road in specific industries or countries?'”
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– School News
Dontae Rayford (MBA '14) and Jerry Hao (MBA '13) discuss their entrepreneurship experience
June 09, 2013
Excerpt from The Times of London -- “'It is a lot easier to take risks and start a new business if you migrate to a hub where that sort of culture already exists,' Jerry Hao, who has just graduated from New York University’s Stern Business School, said. Mr Hao is working on a start-up project in New York. Mr Rayford, president of Stern’s Entrepreneurs Network, is well aware that opting for a job in a big company would be a safer career bet, but for him it holds no appeal. 'There is a risk going down the entrepreneurial path, but there will be opportunities that will not come to me otherwise,' he said."
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– School News
Assistant Dean of Career Services Pamela Mittman on MBA students' career preferences
June 09, 2013
Excerpt from Financial Times -- “'This generation of students is more sophisticated in terms of their self-awareness,' says Pamela Mittman, assistant dean of career services and leadership development at NYU Stern. 'They’ve been encouraged and given flexibility to figure out what their strengths, values and interests are. There’s not a pack mentality.'"
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– Faculty News
Prof. Jonathan Haidt discusses culture wars with Institute for American Values' David Blankenhorn
June 08, 2013
Excerpt from The Huffington Post -- "...Haidt offers a genuinely fresh analysis of today's culture wars. My favorite bit: about halfway through the conversation, he shows that the intuition (the gut reaction) comes first, and the reasoning follows behind, largely to serve and protect the intuition."
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– Faculty News
Prof. Scott Galloway says luxury brands should focus on digital marketing for consumers under 30
June 08, 2013
Excerpt from Financial Times -- “'The under-30s may be entering a more volatile and economically challenged world, but there is no evidence that suggests Generation Z will be less fond of luxury items than the consumers that have come before – brands that don’t attune themselves to their social and spending habits will undeniably suffer in the long run,' says Prof Galloway."
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– School News
Stern Admissions' new early Full-time MBA application deadline is highlighted
June 06, 2013
Excerpt from Bloomberg Businessweek -- "...Stern announced that it’s introducing a new early application deadline of Oct. 15, in addition to existing deadlines of Nov. 15, Jan. 15, and March 15."
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– School News
Stern and Wagner venture Kinvolved is featured for its participation in NYU's Summer Launchpad
June 05, 2013
Excerpt from Forbes -- "Among the products being developed is Databetes, a forthcoming app that will provide self-management support tools for patients with diabetes. Kinvolved similarly bridges technology and social enterprise by developing online applications to increase school attendance among low-income students, engaging parents in the process."
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Excerpt from CNBC -- "We thought that it would take about a trillion dollars to rescue the financial sector in the middle of the financial crisis of 2008. Three or four years later it was about half of that amount during the debt ceiling debate in the summer of '11 and now it's down to half of that again, $350 billion. It really looks like the banks are much stronger than they were anytime in the meantime."
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Excerpt from Business Insider -- "In a followup to their 2008 paper on CEO compensation, Xavier Gabaix, Augustin Landier, and Julien Sauvagnat just released a paper looking at how CEO compensation decreased and rebounded as a result of the crisis...During the crisis (2007 – 2009), average total firm value decreased by 17%, and CEO pay decreased by 28%. During 2009-2011, we observe a rebound of firm value by 19% and of CEO pay increased by 22%."
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– Faculty News
Prof. Baruch Lev on the shift in information that companies are providing investors
June 04, 2013
Excerpt from The Wall Street Journal -- “'The relevance of accounting information in financial reports is decreasing at an alarming rate,' says Baruch Lev, an accounting and finance professor at New York University’s Stern School of Business. 'What investors need is a comprehensive picture of the business model of a company and how it is executed.'”
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– Faculty News
In an op-ed, Prof. Adam Alter explains the hidden impact of names and other labels
June 03, 2013
Excerpt from The New Yorker -- "Even the names people choose for their children vary from simple to complex, and that decision determines some of their outcomes later in life. With the psychologists Simon Laham and Peter Koval, I found that people prefer politicians with simpler names—and lawyers in American firms with fluent names rise up the legal hierarchy to partnership more quickly than their non-fluently named colleagues."
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Excerpt from CNBC -- "A lack of inflation is a key driver for gold losses and global prices are falling despite quantitative easing doubling or even tripling the money supply in most advanced economies, he noted. 'The reason (for this) is simple: while base money is soaring, the velocity of money has collapsed, with banks hoarding the liquidity in the form of excess reserves. Ongoing private and public debt deleveraging has kept global demand growth below that of supply.'"
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Excerpt from Forbes -- "The longer funding duration helps raise more awareness and generate more buzz and word of mouth and that actually translates into better project outcomes in terms of consumption."
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Excerpt from Reuters -- "'The immediate implications for investors and employees will be significant, but for the market as a whole they will be small,' said Stephen Brown, a professor who focuses on hedge funds at New York University's Stern School of Business."
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– Faculty News
In an op-ed, Prof. Roy Smith discusses increased oversight of the governance of banks
June 03, 2013
Excerpt from Financial News -- "This year in particular, bank boards have set high expectations for good governance. Let’s hope they will deliver. There is no margin for error at the top these days and retribution, from shareholders and regulators alike, will be swift if further scandals are unearthed."
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– Faculty News
In an op-ed, Prof. Amity Shlaes explains economic conditions in the era of "The Great Gatsby"
June 01, 2013
Excerpt from The New York Times -- "Nearly all economists, including those who express concern over income disparities of the 1920s, count multiple factors at work preventing recovery in the 1930s. They do not blame stock prices, or even President Coolidge. Yet it is human nature to believe that when an event follows an event, the first event causes the second. The misery of the ’30s was of such magnitude, or so the narrative suggests, that most people want to believe it must have been preceded a force of similar magnitude. Post hoc, ergo Gatsby."
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Excerpt from The Globe and Mail -- "Baumol's cost disease – an economic theorem often proven empirically and named after the economist William Baumol – shows that wage gains always outstrip productivity improvements in the public sector. Baumol's cost disease poses a huge challenge for provincial governments, whose services – health, education, social services – are very labour-intensive."
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– Faculty News
Prof. Hal Hershfield's research on aging and retirement savings is featured
June 01, 2013
Excerpt from Harvard Business Review -- "Many people feel disconnected from the individuals they’ll be in the future and, as a result, discount rewards that would later benefit them. But brief exposure to aged images of the self can change that behavior."
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