Experience Stern | News & Events

The NYU Stern Center for Real Estate Finance Research hosted its Fifth Annual Fall Symposium on October 19.

Excerpt from MarketWatch -- "The authors devised a formula that predicts the frequency of large crashes in the stock market over long periods of time. They found that their formula had a remarkably accurate track record not only in the U.S. stock market, but also in foreign stock markets as well. That, in turn, led them to conclude that crashes are an inherent feature of the equity markets."

Excerpt from The Globe and Mail -- "The form of dominance we were looking at is more about confidence and assertiveness,' [Kilduff] said. 'You can intimidate your way to the top in a small group, but I’m not sure how relevant that is to explaining the popularity of a public figure."

Excerpt from CKGSB Knowledge -- "One of the things we found is that mobile coupons actually have the highest redemptions from the highest income group. ... This is very interesting because mobile marketing has often received some flak that it's not very profitable because it only attracts the lower income customers, but what we are seeing is that the highest income customers have the highest redemption probability."

Excerpt from The Wall Street Journal -- "Another conundrum: Stocks in the index become overvalued relative to those outside it. Jeffrey Wurgler, a finance professor at New York University’s Stern School of Business, has seen signs of this by comparing similar stocks that are or aren’t included in a basket."

New research by NYU Stern Professor Sinziana Dorobantu and co-authors, Wharton School Professor Witold Henisz and Moore School Professor Lite Nartey, reveals that stakeholders’ perceptions of an organization are critical in understanding whether a negative news event escalates into a bigger crisis by sparking a broader social movement against the organization. 

Chade-­Meng Tan (Meng), a Google pioneer, award­-winning engineer, international bestselling author and philanthropist spoke to the NYU Stern community as part of the School’s Leadership Development Speaker Series.

Excerpt from TopMBA -- "Self-awareness is a key characteristic of being a leader, and NYU Stern’s Leadership Development Program aims to support those MBA students who are keen to deepen their self-understanding in their endeavor to have a positive impact."

Excerpt from the Associated Press -- "'Creditworthy firms in industries with a prevalence of zombie firms suffered significantly from credit misallocation, which slowed down the economic recovery,' wrote the four economists: Viral Acharya at New York University's Stern School of Business, Tim Eisert from Erasmus University Rotterdam, Christian Eufinger at IESE Business School in Barcelona and Christian Hirsch at the Goethe University in Frankfurt."

Professor Stijn Van Nieuwerburgh has been awarded the 2015 Bernácer Prize, which is given annually to a European economist under the age of 40 who has made outstanding contributions in the fields of macroeconomics and finance.

Excerpt from the Financial Times -- "[Henry] is adamant that financial services companies need to engage with the longer-term issues that preoccupy economists — such as income inequality — rather than just the more pressing matters that managers tend to focus on. In keeping with this mantra, NYU Stern is focusing fundraising on creating full scholarships for high-achieving, low-income students — the aim is to offer 200, up from 34 now. 'New buildings are wonderful, but we prefer to invest our resources in human capital.'"

Excerpt from Quartz -- "'[Cities] can’t contain expansion. Expansion is growing in leaps and bounds,' says Angel, who heads an NYU initiative that advises cities on how to make sprawl as 'vibrant, inclusive, and affordable' as possible. This rules out, for example, simply drawing an urban boundary to limit sprawl; places like Seoul and Portland, Oregon, have tried that and house prices have gone through the roof, making the cities unaffordable for many."
 

Excerpt from Bloomberg View -- "It's really a situation where we have to think about how do we change the laws in a way that accommodates this activity because a lot of people want to host on Airbnb. A lot of guests want Airbnb. So society wants this service. What I think will happen in the long run is a couple of things: One is that we will in fact change the laws around that prevent people from renting for less than 30 days and so on. But I think we're also going to delegate a lot of responsibility to parties other than the government."

Excerpt from the Financial Times -- "This piece by Bernstein tells me more about how DCF is practiced (or mangled) at Bernstein than it does about DCF itself. As the piece indicates, a Bernstein DCF is a Robo DCF where as the risk free rate changes, nothing else does and not surprisingly the value goes up."

Excerpt from Vice -- "'Uber is a company that placed a very big bet on expanding aggressively within the US and abroad,' Sinziana Dorobantu, an assistant professor at New York University’s Stern School of Business who is researching opposition to Uber worldwide, told me. 'They never took the time to think about regulation very deeply, and there was a lot of backlash against them. Because of the backlash they realize they have to get into the game of lobbying themselves.'"

Excerpt from ARS Technica -- "'That’s a very serious issue, and a big social problem,' Economides said. 'You need high-speed Internet for national reasons, to get information, to get educated. That’s just not happening. We still have very high prices.'"

Excerpt from Directors & Boards -- "There is no shortage of criticism of the accounting model and the financial information derived from it, and a whole host of proposed remedies: disclosure of nonfinancial variables (key performance indicators, or KPIs); reporting on the impact of firms’ operations on people and the planet, in addition to profits (the 'triple bottom line, or the three Ps'); or reporting on the intellectual capital of companies (intellectual capital reports), to name a few."

Excerpt from The Washington Post -- "'To me the real implication of this is highlighting the fact that lawmakers have to start recognizing that these categories are increasingly inadequate and something like unemployment benefits shouldn’t be reserved for one kind of work,' said Arun Sundararajan, a professor at New York University's Stern School of Business."

On Friday, October 14, the Luxury & Retail Club will hold its tenth annual conference, themed "Expanding Horizons: Navigating New Channels and Thinking in Retail."

Excerpt from CCTV -- "Something doesn't work, and doesn't work catastrophically, as in this case, people will lose confidence to some extent on the brand of Samsung, even though the other Samsung phones are not affected at all by this problem."

Excerpt from CoinDesk -- "Overall, Yermack, who teaches a cryptocurrency course at NYU’s Stern School of Business, offered a much broader vision for the use of blockchain in finance than what the industry is considering, as well as more critical takes on how incumbents are exploring the tech."

Excerpt from CNNMoney -- "'The effect on morale has got to be debilitating,' said Irv Schenkler, a professor at NYU Stern School of Business."

Excerpt from CNBC -- "'Twitter is a poster child for a company in need of adult supervision and I don't believe that [CEO] Jack Dorsey can run one company effectively, let alone two,' said Aswath Damodaran, finance professor at New York University Stern School of Business. Botching up their sale prospects, he says, is further evidence of Dorsey's inefficiencies as a leader."

Excerpt from Moneyweb -- "A monthly analysis by Engle and the Volatility Institute at New York University’s Stern School of Business ranks the systemic risk contribution (SRISK%) of a number of South African banks and financial services companies higher than the riskiest European banks."

Excerpt from ABC News -- "Ghose said that to restore trust with consumers, the company would have to recall all of the defective phones (a process it has started), pinpoint the cause of the problem, fully reimburse consumers and convince its business partners 'to give it another shot with the next set of product releases.'"