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Faculty & Research Archive
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Thoughts on Intrinsic Value - By Aswath Damodaran
I know this post will strike some of you as splitting hairs and an abstraction but it is a topic that fascinates me. A few weeks ago, I got an email asking a very simple question: How do you estimate the "intrinsic" value of gold? This, of course, raised two key questions: a. What is intrinsic value? b. Does every asset have an intrinsic value?
—— Opinion
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Dimon’s Bank Can Ride a Storm of Rules - By Roy Smith
Jamie Dimon has been getting a lot of attention lately for his impassioned bashing of Basel III as too tight on capital terms and too loose on risk standards for European banks. Had he been more diplomatic, probably no one would have listened.
—— Opinion
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The Next Convergence - By Michael Spence
Nobel Laureate Professor Michael Spence examines the rapid economic growth occurring in developing countries as they catch up with the industrialized West in a new book. He outlines the drivers of growth as well as challenges the developing countries face, and discusses implications for people living in industrialized nations.
—— Books
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Prof. Thomas Merten's study of behavioral economics is highlighted
Excerpt from Financial Times (German Edition) -- "If all investors really behave as so-called rational agents, the average returns and the volatility of market prices would be a whole lot lower," says Thomas Mertens.
—— Research in the News
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Prof. Thomas Philippon's research on banks' role in the economy
Excerpt from SmartMoney -- "But research by Thomas Philippon, a finance professor at New York University's Stern School of Business, shows there has been surprisingly strong variation in the relative importance of banks in the economy."
—— Research in the News
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Lessons in Privacy From Sony’s Data Theft - By Vasant Dhar and Arun Sundararajan
The fallout of the Sony PlayStation data breach, in which hackers stole personal information about more than 100m gamers, was more a failure in management than a failure in security technology.
—— Opinion
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Greece should default and abandon the euro - By Nouriel Roubini
Greece is stuck in a vicious cycle of insolvency, low competitiveness and ever-deepening depression. Exacerbated by a draconian fiscal austerity, its public debt is heading towards 200 per cent of gross domestic product. To escape, Greece must now begin an orderly default, voluntarily exit the eurozone and return to the drachma.
—— Opinion
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Europe should avoid eating its seed corn - By Thomas Cooley
The European debt crisis has put the banking system in peril and is threatening to end the grand European experiment. It is a test of whether European governments can find enough political common ground to find a solution to the problems created by sovereign fiscal policies in the periphery countries.
—— Opinion
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Steve Jobs: The “Consumerizer” of Digital Technology - By Arun Sundararajan
Professor Arun Sundarajan writes about Steven Jobs' legacy, the most enduring coming from his vision of digital technology that was centered on consumers rather than large enterprises.
—— Opinion
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Prof. Nouriel Roubini on how policy changes can prevent a second depression
Excerpt from Financial Times -- "Until last year policymakers could always produce a new rabbit from their hat to trigger asset reflation and economic recovery. Zero policy rates, QE1, QE2, credit easing, fiscal stimulus, ring-fencing, liquidity provision to the tune of trillions of dollars and bailing out banks and financial institutions – all have been tried. But now we have run out of rabbits to reveal."
—— Research in the News
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Professor Lawrence White Testifies Before Congress on Ratings Agencies Post-Dodd-Frank
On July 27, 2011, Professor Lawrence White testified before the Subcommittee on Oversight and Investigations at their hearing on “Oversight of the Credit Rating Agencies Post-Dodd-Frank.”
—— Research Highlights
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Blogging in the Workplace Has Value - By Anindya Ghose
Workers of the world, blog on! That’s the message from NYU Stern professor Anindya Ghose, who found that blogging within enterprises by employees during their work day has positive long-term benefits for their employer. Somewhat counter-intuitively, that goes for both work-related (professional content) and leisure-related blogging.
—— Research Highlights
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Prof. Matthew Richardson discusses Fannie Mae and Freddie Mac
On The Daily Show, Prof. Matthew Richardson discusses Fannie Mae and Freddie Mac from Guaranteed to Fail, co-authored with Profs Viral Acharya, Stijn Van Nieuwerburgh and Lawrence White.
—— Research in the News
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Professor Sinan Aral Discusses Social Contagion at TEDx Silicon Valley 2011
Sinan Aral, Assistant Professor of Information, Operations and Management Sciences, headlined the TEDx Silicon Valley 2011 Talks, presenting on social contagion and causality. Aral studies contagion as a way to understand how behaviors spread in social networks, how those networks can promote or contain behavior, and how they can be used in viral marketing and product development.
—— Research Highlights
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Developing Economies, the Olympics, and the Performance Gap - By Robert Salomon
Associate Professor Robert Salomon and Jin-Hyun Bae of NYU Stern’s management and organizations department studied the performance of Olympic athletes to explore if developing countries can catch up to advanced countries in industrial competitiveness. The answer: a qualified yes, they can.
—— Research Highlights