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SEC: How to Decide Earnings Report Timing - By Richard Berner, Kim Schoenholtz & Lawrence White
The Securities and Exchange Commission has set a March 21 deadline for public comments on possible changes to its current financial reporting requirements for U.S. publicly traded companies.
—— Opinion
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On Climate, the Kids Are All Wrong - By Paul H. Tice
In the summer of 1212, thousands of divinely inspired young people from across Catholic France and Germany took off to liberate Jerusalem from the Muslims. None made it to the Holy Land. Many died along the way or were sold into slavery. As military campaigns go, the Children’s Crusade was a disaster. Yet environmental activists and politicians are adopting the same “a child shall lead them” strategy to push their climate change agenda and its latest incarnation, the Green New Deal.
—— Opinion
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Why it's so Important to Close the Female Leadership Gap - By Michael Posner
International Women’s Day offers an opportunity to take stock of areas where women have made progress in the struggle for equality but also to examine the gaps that remain. In the United States, women have made notable gains politically, but far too many continue to struggle to gain economic equality, including at the highest levels of American business.
—— Opinion
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A Money Manager’s Past Performance Matters More Than Ever - By Vasant Dhar
A common disclaimer in the investment business is that “past performance is not indicative of future results.” This is consistent with the Theory of Finance which argues that obvious advantages disappear quickly in a competitive market. Historical evidence largely supports this position: Manager performance is mostly unpredictable from month to month.
—— Opinion
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Strategy Needs Creativity - By Adam Brandenburger
I've noticed that business school students often feel frustrated when they’re taught strategy. There’s a gap between what they learn and what they’d like to learn. Strategy professors (including me) typically teach students to think about strategy problems by introducing them to rigorous analytical tools—assessing the five forces, drawing a value net, plotting competitive positions. The students know that the tools are essential, and they dutifully learn how to use them. But they also realize that the tools are better suited to understanding an existing business context than to dreaming up ways to reshape it.
—— Opinion
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On North Korea, U.S. Fails to Maintain Bipartisan Tradition of Leadership on Human Rights - By Michael Posner
As he wound down his two-day summit with North Korean dictator Kim Jong-un in Hanoi, President Trump was asked again to comment on the torture and murder of Otto Warmbier, the University of Virginia student who died in 2017. Warmbier had been studying in North Korea in 2015 when he was arrested and held on bogus charges for 17 months, ultimately lapsing into a coma and dying.
—— Opinion
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The Next Wave of Improbable Innovation - By Tensie Whelan
The past 20 years have been characterized by innovation that democratizes access to information, entertainment, products and services through platform companies such as Spotify, Amazon and Facebook, as well as technologies such as blockchain. While technological and business innovation continues, there is growing backlash against some of its unintended consequences, such as growth becoming dependent on monetizing consumer data.
—— Opinion
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Stock Buybacks Are the Wrong Target - By A. Michael Spence
The surge in stock buybacks in the United States has sparked a high-stakes debate about what corporations can and should do with surpluses they have generated. It is a topic that raises fundamental questions about the role of the public and private sectors in securing inclusive growth patterns.
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Justice Thomas' Ominous Threat Against a Vital Free-Press Precedent - By Michael Posner
In 1964, the United States Supreme Court protected journalists from legal retaliation by powerful politicians and other public figures seeking to impede their reporting. The case, New York Times v. Sullivan, significantly limited the scope of defamation lawsuits that could be brought against publishers or reporters by public officials and other prominent figures, requiring proof of “reckless disregard” of the truth. Over the past five decades, the Sullivan case has empowered journalists to root out official corruption and expose wrongdoing by the powerful.
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How to Mitigate AI’s Exacerbation of Income Inequality - By Haran Segram
It is forecasted that approximately one-sixth of the total labor force will be made redundant over the next decade through some form of automation; this number will be likely be higher in developed economies, including the United States. To keep the American Dream alive, policymakers must address AI’s exacerbation of income inequality.
—— Opinion
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Public Pensions and Infrastructure: A Match Made in Heaven - By Ingo Walter and Clive Lipshitz
During the State of the Union address, President Trump issued a renewed call for an infrastructure bill. Two days later, the House Committee on Transportation and Infrastructure held its first hearing of the new Congress to address the state of U.S. infrastructure. Confronting the nation’s infrastructure gap is one of the rare bipartisan issues in Washington today.
—— Opinion
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NYC Driving Out Amazon is a Self-Inflicted Wound - By Ari Ginsberg
After New York State and New York City officials publicized details about the economic costs and benefits of Amazon’s plan to open a new 25,000-employee office in Queens, many New Yorkers and local politicians vocalized objections to the online retail giant’s planned entry into Long Island City (LIC).
—— Opinion
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Common Ownership in America: 1980-2017 - By Christopher Conlon
NYU Stern Professor Christopher Conlon, in a new working paper, proposes a consistent and scalable approach to measuring common ownership, identifies firm characteristics that correlate with the phenomenon, and traces the theoretical impact of the trend on shareholder structures.
—— Research Highlights
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Globalization in Troubled Times - By Pankaj Ghemawat, Steven Altman and Phillip Bastian
In 2016, the United Kingdom voted for Brexit and the United States elected Donald Trump, spelling, for many analysts, a major setback to globalization. However, the latest DHL Global Connectedness Index -- the first comprehensive globalization study to contain data from 2017 -- is quick to put this idea to rest. Looking at global connectedness on a worldwide level, by region, and for 169 countries with historical coverage back to 2001, the data show that globalization actually increased to a record high in 2017.
—— Research Highlights
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Trump's AI Initiative Missed Opportunity to Address Immigration and Data - By Robert Seamans
On Monday, President Trump signed an Executive Order launching the “American AI Initiative.” The goal of the initiative is to promote American artificial intelligence (AI) to “increase our Nation’s prosperity, enhance our national and economic security, and improve quality of life for the American people.”
—— Opinion
