Experience Stern | News & Events

Excerpt from International Financial Law Review -- "'I don’t think a lot of mergers will be challenged in 2016. But in 2017 there’s going to be a new US administration, whether Republican or Democrat, and that may well lead to questions over whether there will be a new attitude to enforcement,' said Lawrence J White, professor of economics at NYU Stern. 'My prediction would be there will be more enforcement challenges in 2017,' White added."

Excerpt from The Huffington Post -- "... when the government considers the imposition of safety targets, it must estimate the cost and balance that against the prospective benefit. To do this, officials estimate the "economic value of a statistical life" by examining questions of the following form: How much would a typical person be willing to pay to eliminate a mortality risk that is 1 in 50,000? An answer of $200 implies that the expected value of reducing one fatality is $10 million. Consistent with estimates in academic studies, the Department of Transportation currently uses a value of $9.4 million."

Excerpt from Salon -- "I’ve looked at the analysis that the city of San Francisco and Airbnb did on its impact on short-term rental availability, and the conclusion I drew was that there are other factors – the growth of the population, the widespread prevalence of rent control – that have had far greater impact on the shortage of affordable rental housing than Airbnb."

Excerpt from Harvard Business Review -- "In the multi-stage study, consumers of various ages watched 37 real television ads from six different companies, spanning 15 brands in the lab. The researchers compared commonly used behavioral marketing research methods with a raft of neuromarketing techniques including eye-tracking, which reveals what captures people’s attention, facial emotion coding, which measures people’s ongoing emotional responses in real-time, biometrics such as heart rate, and neural measurements using electroencephalography (EEG) and fMRI. The goal was to see which source of data could most accurately predict the effect of advertising on sales, specifically the percentage change in sales due to a 1% change in advertising effort."

Excerpt from Bloomberg -- "Expectations for a December rise based on fed funds pricing have snapped back to 50 percent. That may be exactly where the Fed’s leadership wants to keep it when they speak Wednesday, said Kermit Schoenholtz, director of the Center for Global Economy and Business at the NYU Stern School of Business, because they still want to see incoming data before making a final decision. 'December is still on the table, but it’s premature for them to close the door one way or the other,' he said."

Excerpt from New China TV -- "One way to think about it is you can grow by getting more people working. You can grow by getting capital to workers. And you can grow by being more productive or innovative. And in China's case, the growth success over the last 30 or 40 years has been a combination of real innovation and technology on the ground. But it's also just been increasing roads, bridges, equipment and factories."

Excerpt from The Wall Street Journal -- "In analyzing financial reports and quarterly conference calls at some 3,000 companies over the past 50 years, Baruch Lev, an accounting professor at New York University’s Stern School of Business, found that analysts have all but stopped asking about information in financial reports, like sales and earnings figures. They are now asking more questions about strategy and nonstandard metrics, such as customer churn or the impact of foreign currencies. 'The usefulness of financial information to investors decreased tremendously over the last 20 to 30 years,' Mr. Lev said, adding that companies don’t say enough about intangible assets, such as patents and brands, that can drive their business."

Excerpt from Business Insider -- "'I think that Uber is easier to define through the traditional regulatory lens for the regulator. Uber is like taxi. There’s an immediate connection,' said Arun Sundararajan, an NYU professor and expert in the sharing economy. 'With Airbnb, it’s different. It’s sort of serving the needs that these hotels serve, but no one thinks of this room in their apartment being equivalent to a 100-room hotel.'"

Excerpt from the Financial Times -- "Joshua Ronen, a professor of accounting at New York University’s Stern School of Business said the OFR’s study — which did not cite individual banks by name — showed that lenders with the lowest capital ratios were making the biggest quarter-end reductions."

Excerpt from Barron's -- "'The stock market is a key component in whether China develops its wonderful tech companies or remains strait-jacketed by state-owned enterprises,' says Jennifer Carpenter, who specializes in the Chinese economy at New York University’s Stern School of Business."

Excerpt from The Economic Times -- "'However, while taxes are the most effective technique reducing smoking rates, we find that this tool has a significant downside,' said Vishal Singh, from New York University. 'Because cigarette taxes are currently applied at the per pack level and without regard to nicotine levels, consumers may respond to increasing cigarette taxes by switching to higher nicotine products,' Singh said."

On Friday, October 30, the Association of Hispanic and Black Business Students (AHBBS) will host the 2nd Annual Diversity Case Competition in partnership with Stern Women in Business (SWIB), Graduate Finance Association (GFA), OutClass, Management Consulting Association (MCA) and the Military Veteran's Club (MVC).

Excerpt from Bloomberg View -- "The estimate that cognitive function peaks at age 53 comes from a 2009 paper by Laibson, Sumit Agarwal, John C. Driscoll and Xavier Gabaix titled 'The Age of Reason: Financial Decisions over the Life Cycle and Implications for Regulation.' The four economists examined the fees and interest rates paid by thousands of borrowers in 10 different types of credit transactions, and found that, on average, such costs were minimized at age 53.3."

Excerpt from Business Times Singapore -- "A 2014 Time magazine article claimed that compared to Singapore, 'no other place on earth has so engineered itself to prosper from globalisation - and succeeded at it'. The DHL Global Connectedness Index, which we first released in 2011 and have since updated regularly, confirms the Lion City to be a leader on several aspects of globalisation, but also identifies gaps in Singapore's globality."

Excerpt from Project Syndicate -- "Only bold policies can halt Europe’s slide toward secular stagnation and nationalist populism. Timidity of the type witnessed in the past five years will only increase the risks. Failure to act decisively now will lead to the eventual failure of the peaceful, integrated, globalized, supra-national state that is the EU, and the rise of dystopian nationalist regimes."

Excerpt from Bloomberg -- "Lawrence White, an economics professor at New York University’s Stern School of Business, argues that sales to local buyers wouldn’t go far enough. The FTC will want a buyer that can replace the branded competition that Rite Aid is providing, possibly a large regional pharmacy with aspirations of going national, he said. 'It would have to be a viable party who could really take those multiple hundreds of stores and turn them into something that looks like Rite Aid,' said White. 'You’re losing the No. 3 player in an already pretty concentrated industry.'"

Excerpt from InsideSources -- "Nicholas Economides, an economics professor at NYU, was the only expert on hand to defend the regulations, which he said would bolster other areas of the Internet economy even if broadband investment declines. 'Network neutrality has facilitated businesses innovation 'at the edge of the Internet' without seeking approval from network operators,' Economides said. 'The decentralization of the Internet based on network neutrality fueled innovation resulting in big successes such as Google and Skype, as well as a myriad of smaller innovative companies.'"

Excerpt from The Verge -- "Ratings systems fall along a continuum. They can be used to establish trust between customers and workers, but they can also be a way to enforce standards of service, said Arun Sundararajan, a professor at NYU’s Stern School of Business who studies digital platforms. 'It’s not helping customers make better choices by giving more information, it’s having a mechanism that allows automated customer feedback to identify workers who are subpar.' The rating systems used by on-demand platforms all have a disciplinary element."

Excerpt from Bloomberg -- "Announcements by his predecessors 'have lacked credibility because they didn’t want to admit that they couldn’t make it in investment banking, or because cost-cutting in Europe is harder to do than elsewhere,' [Roy] Smith said. 'But a dividend holiday truly gets attention, and may set Cryan apart from the rest as a doer.'"

Excerpt from CNBC Africa -- "... if you look at the level of urbanization and the level of living standards, they track quite well across counties around the world. And Nigeria is right on trend. It's right in the middle of the trend, in fact. So for the level of urbanization that it has, its living standards are just about where you'd expect them to be."

Excerpt from The Hill -- "New York University professor Nicholas Economides, the only witness who supports the rules, said that the economic impact of the entire Internet marketplace, and not just Internet service providers, should be taken into account. Echoing analysis from the FCC, he noted that even if broadband investment declines because of the rules, different areas would see increases because of new protections."

Excerpt from eFinancialCareers -- "How safe are regulatory jobs? Credit Suisse suggests that banks are offshoring some of their regulatory jobs, but only at the junior end. 'Banks still need compliance and control skills,' says Roy Smith, a professor at NYU Stern and former partner at Goldman Sachs."

Excerpt from The Economic Times -- "'VCs are pricing these companies at very large numbers. This pricing reflects the expectation that disruption is coming to many Indian businesses, which have historically been poorly run, inefficient and splintered,' said Professor Aswath Damodaran of the Stern School of Business at New York University. 'Whether they are being overly optimistic in their assessments, only time will tell for the individual companies,' he added."

The NYU Pollack Center for Law & Business and Cornerstone Research announce the launch of the Securities Enforcement Empirical Database (SEED), located at seed.law.nyu.edu.

Excerpt from International Service for Human Rights -- "Going forward a new approach to supply chains is needed. It should be based on: 1. an industry specific, standards based approach; 2. an assessment of the range of serious risks across each end-to-end supply chain; 3. a new remedial model that shares the costs and commitments among public and private actors; and 4. engagement with human rights defenders, trade unionists and community representatives both in developing standards and monitoring implementation and compliance."