– Press ReleasesSeptember 28, 2010Professor Stephen Brown, David S. Loeb Professor of Finance at NYU Stern, was selected by the Australian Research Council (ARC) as a member of Research Evaluation Committee for the Excellence in Research Australia (ERA) initiative for 2010. The Research Evaluation Committee, consisting of 149 internationally recognized scholars, will be evaluating every academic discipline within all Australian universities.
– Press ReleasesSeptember 27, 2010The US Departments of Housing and Urban Development, and the Treasury, are convening policymakers, industry groups, private industry participants, and citizen advocacy groups to discuss the policies and goals of housing finance reform. NYU Stern Professor of Economics Lawrence J. White, a former bank regulator who served as a Board Member of Freddie Mac, is a conference panelist and available for interviews.
– Press ReleasesSeptember 14, 2010Sinan Aral, Assistant Professor of Information, Operations and Management Sciences, has been selected as a 2010 PopTech Science Fellow. Professor Aral joins a handful of other extremely high potential, socially engaged working scientists who view science as an essential way of thinking, discovering, understanding and deciding, and who can effectively communicate their work and its importance to the public.
– Press ReleasesSeptember 14, 2010Despite the greatest economic crisis since the Depression, retailers saw revenues from e-commerce increase in 2009, signaling a shift from bricks to clicks. By 2014 U.S. online retail sales are forecasted to increase to $250 billion and the web influences 46 percent of offline purchases.
– Press ReleasesSeptember 9, 2010The Stern Hedge Fund Association (SHFA) joins the ranks of NYU Stern’s some 40 MBA student clubs this fall. “As the hedge fund industry continues to grow and seek talent with graduate degrees, the SHFA will serve as a gateway for current MBA students to learn about the hedge fund industry,” explains Agata Rzamek, CAIA, club co-president. “The club will also facilitate networking between current students and alumni and other professionals in the field.”
– Press ReleasesAugust 19, 2010In a new study, the first and largest of its kind, NYU Stern Professor of Marketing Scott Galloway, Dean of The George Washington University School of Business Doug Guthrie, and a team of experts evaluated and ranked 100 US Senators’ Digital IQ® including website strength, social media following and sentiment, digital marketing aptitude and search engine optimization skills. The results reveal that Republican Senators are savvier online and are acquiring likes and followers at a greater velocity than Democratic Senators.
– Press ReleasesAugust 5, 2010Anindya Ghose, Assistant Professor of Information, Operations and Management Sciences, and four NYU colleagues were awarded a five-year, $2.9 million grant from the National Science Foundation’s prestigious and highly competitive IGERT (The Integrative Graduate Education and Research Traineeship) program for research. The award is to pursue the research and teaching of security and privacy issues on the Internet and other critical information infrastructures.
– Press ReleasesJuly 23, 2010The Stern Campus Greening Initiative, led by MBA student Sarah Driansky (above), received a $10,000 grant from The Brita Products Company for their proposal to install 25+ water bottle filing stations in NYU campus buildings. The grant is provided by the College FilterForGood Eco-Challenge www.filterforgood.com/ecochallenge/, which challenges college students to make their campuses more sustainable.
– Press ReleasesJuly 19, 2010On July 19, Lawrence White, Arthur E. Imperatore Professorship in Entrepreneurial Studies and Deputy Chair of the Economics Department at NYU Stern, testified at the Community Reinvestment Act (CRA) hearing held jointly by the Office of the Comptroller of the Currency, the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of Thrift Supervision. Professor White has previously written on the CRA, which was created in 1977 to reduce discriminatory credit practices against low-income neighborhoods.
– Press ReleasesJuly 18, 2010Statistics show that green-lighting a movie script that fails to produce profits at the box office can lead to financial ruin for studios – close to negative 50% ROI for unsuccessful films. On the upside, box office hits can produce more than 200% ROI.
– Press ReleasesJuly 14, 2010Each year, Microsoft Research appoints seven fellows to its prestigious Faculty Fellowship Program, which seeks nominees who are advancing computing research in novel directions, and who demonstrate the likelihood of becoming thought leaders in the field. Sinan Aral, Assistant Professor of Information, Operations and Management Sciences, was chosen this spring as a Microsoft Faculty Fellow, having competed with nominees from all over the world.
– Press ReleasesJuly 14, 2010NYU Stern faculty are available to provide commentary on the Dodd-Frank Wall Street Reform and Consumer Protection Act up for final vote in the Senate.
– Press ReleasesJuly 13, 2010Nomura Professor of Finance Jeffrey Wurgler received a 2010 Rising Star in Finance Award. The award was presented at a conference at the Rochester Institute of Technology held in June.
– Press ReleasesJuly 1, 2010On July 1, NYU Stern Professor and former Insurance Superintendent for New York State Eric Dinallo appeared before the Financial Crisis Inquiry Commission for a hearing on the role of derivatives in the financial crisis, specifically with respect to AIG. Professor Dinallo was Superintendent of the New York State Insurance Department from 2007-09, including the time of AIG’s financial troubles and the US financial crisis.
– Press ReleasesJune 16, 2010According to a new, first-of-its-kind study released today by NYU Stern, digital competency is the key to success in the world’s fastest growing market, China. The study ranks the digital competence of 100 prestige brands in China, scoring each brand against more than 100 qualitative and quantitative data points, and is assigned a Digital IQ ranking of Genius, Gifted, Average, Challenged, Feeble or Luddite.
– Press ReleasesJune 7, 2010As accounting policy makers, including the Financial Accounting Standards Board and the Securities and Exchange Commission, continue to discuss a game-changing shift in the world of financial reporting, NYU Stern experts are available to comment on a variety of issues surrounding the possible convergence of U.S. Generally Accepted Accounting Principles (GAAP) with International Financial Reporting Standards (IFRS).
– Press ReleasesJune 1, 2010Two NYU Stern information systems professors, Anindya Ghose, assistant professor of information, operations and management sciences, and Arun Sundararajan, associate professor of information, operations and management sciences and NEC Faculty Fellow, were each granted Google & WPP Marketing Research Awards.
– Press ReleasesJune 1, 2010Richard Sylla, Henry Kaufman Professor of the History of Financial Institutions and Markets and Professor of Economics, was unanimously elected chairman of the board of the Museum of American Finance. The Museum, an affiliate of the Smithsonian Institution, is the nation’s only public museum dedicated to finance, entrepreneurship and the open market system.
– Press ReleasesMay 11, 2010Nobel Laureate and Professor of Finance Robert Engle was selected to be a member of a Securities and Exchange Commission (SEC) and Commodities Futures Trading Commission (CFTC) joint committee to address emerging regulatory issues. The Joint CFTC-SEC Advisory Committee on Emerging Regulatory Issues is responsible for developing recommendations relating to both agencies. The Committee will examine the May 6 stock market fall and the market forces that contributed to the volatility of that trading day.
– Press ReleasesMay 6, 2010On May 6, 2010, Viral Acharya, Professor of Finance, testified before the US House Financial Services Committee at a hearing on "The End of Excess (Part One): Reversing Our Addiction to Debt and Leverage."
– Press ReleasesMay 3, 2010
A Crystal Ball into the Future of the $250 billion Prestige SectorMay 03, 2010 01:46 PM Eastern Daylight Time
NEW YORK--(EON: Enhanced Online News)--Chanel and BMW top the first annual L2 Gen Y Prestige Brand Rankings, the largest study-of-its-kind measuring the affinity for 105 iconic brands among the next generation of prestige consumers. Scott Galloway, NYU Stern Clinical Associate Professor of Marketing, surveyed 450 Gen Y high-earners from 45 countries (83 percent are expected to make more than $100k+/year in the short term) and measured brands in six industry categories. The study also looked at Gen Y brand engagement across popular channels.
The rankings and observations can be found at http://l2thinktank.com/Gen_Y_Report.pdf
Describing the Rankings’ potential value to prestige brand marketers, Galloway stated, “Gen Y goodwill is arguably the closest thing to a crystal ball for predicting a brand's long-term prospects. Just as Boomers drove the luxury sector for the last 20 years, brands that resonate with Gen Y, whose purchasing power will surpass that of Boomers by 2017, will be the new icons of prestige.”
Luxury is TimelessThe Top 10 brands for male and female Gen Y are dominated by traditional luxury brands such as Chanel, Cartier, The Four Seasons, and Ralph Lauren. However recent prestige entrants, Marc Jacobs and W Hotels, demonstrate the effectiveness of direct appeals to Gen Y.
Not surprisingly, cars dominated among men capturing eight of the top 10 slots. German brands BMW, Mercedes-Benz and Audi also appealed to females, who rated the category second only to Fashion and above Beauty & Skin Care.
The list of brands scoring in the Gen Y Prestige Brand Rankings top 10 (by gender):
Other key survey findings include:
Gen Y Females: Gen Y Males: 1. Chanel 1. BMW 2. Ritz-Carlton 2. Ferrari 3. Four Seasons 3. Porsche 4. Marc Jacobs 4. Lamborghini 5. Cartier 5. Audi 6. BMW 6. Aston Martin 7. Mercedes-Benz 7. Four Seasons 8. W Hotels 8. Mercedes-Benz 9. Prada 9. Ralph Lauren 10. Audi 10. Ritz-Carlton
- Gen Y loves brands. Sixty-five percent of females and 61 percent of males consider themselves “brand conscious.” Only 1 percent of females and 3 percent of males do NOT consider themselves brand conscious.
- Gen Y considers Apple a prestige brand. Unprompted, Apple is considered the #1 brand among men and #9 for females. Apple is #1 when asked by both males and females as to their most likely next prestige brand purchase.
- Among the lowest rated categories for both men and women, the future looks dim for watches and jewelry. While legendary brands Cartier, Tiffany and Rolex still rank high, there is a significant lack of Gen Y brand awareness in the category.
- For Gen Y, Europe remains the home for luxury fashion. For females eight of the top 10 fashion brands are headquartered in Europe, including legendary fashion houses Chanel, Prada, Hermes and Gucci.
- Brands aren’t capitalizing on the e-commerce opportunity. While the store is still the dominant channel, more than half of Gen Y females purchased luxury goods on discount websites such as Gilt.com (54 percent) and retail websites such as Net-A-Porter.com (53 percent), while less than a third (31 percent) purchased directly from a brand site.
- Print is not dead. Print continues to be a primary source for information on prestige brands. It is the #1 source for women and #2 for men. Recommendations from family and friends via word of mouth are also crucial, ranking #1 for men and #2 for women.
- Gen Y has embraced social media and blogs. One in five Gen Y respondents like a prestige brand on Facebook, and one in 10 follow a prestige brand on Twitter. Almost half have signed up to receive email from a prestige brand and almost one in 5 Gen Ys consider blogs one of their top three sources for information on prestige brands.
- Trump received the most “hated” scores of any prestige brand in the survey. Forty percent of men and 34 percent of women Gen Y reported they hated the brand.
About L2L2 is a think tank focused on marketing innovation for prestige brands. Founded by NYU Stern Professor Scott Galloway, L2 helps brands navigate the changing marketing landscape through events, research and advisory services. www.l2thinktank.com
About New York University Leonard N. Stern School of BusinessNew York University Stern School of Business, located in the heart of Greenwich Village, is one of the nation’s premier management education schools and research centers. NYU Stern offers a broad portfolio of academic programs at the graduate and undergraduate levels, all of them informed and enriched by the dynamism, energy and deep resources of the world’s business capital.
New York University Stern School of Business
Rika Nazem, 212-998-0678
Scott Galloway, 917-567-2841
May 3, 2010:
– Press ReleasesApril 30, 2010On April 30, the winners of NYU Stern’s 11th Annual New Venture Competition and 6th Annual Social Venture Competition received more than $175,000 in seed money and in-kind support. After pitching their venture ideas, the three winning teams, each led by NYU students and alumni, were chosen by a panel of investors and business owners in the social enterprise and for-profit sectors.
– Press ReleasesApril 21, 2010New York University Stern School of Business is launching the NYU Stern Systemic Risk Rankings, a weekly rating and ordering by level of risk that the largest U.S. financial institutions bring to the financial system. The new rankings use stock quotations and other market data, from 1990 to the present, and provide an early warning that will help regulators identify threats to the overall health of the financial system.
– Press ReleasesApril 13, 2010New York University’s Stern School of Business’ Stern Campus Greening Initiative (SCGI) received a $10,000.00 grant from The Brita Products Company for their proposal to install 25+ water bottle filing stations in NYU campus buildings. The grant is provided by the College FilterForGood Eco-Challenge www.filterforgood.com/ecochallenge/, which challenges college students to make their campuses more sustainable. The Eco-Challenge is an extension of Brita’s FilterForGood program aimed at reducing bottled water waste.
– Press ReleasesApril 1, 2010Earlier this month, Sheila Wellington, NYU Stern Professor of Management and Organizations and advocate on behalf of women in business, joined a group of 50 CEOs and government leaders invited by President Obama to discuss the importance of flexible arrangements in today’s workplace.
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