Experience Stern | News & Events

Excerpt from The Advocate -- "Sometimes it's a more complicated story than, 'Oh, any company ought to get a premium,' said Lawrence White, professor of economics at New York University at the Stern School of Business. 'When Company A wants to buy Company B, almost always there will be a premium that Company A offers over the pre-announcement share price,' said White, who has been in academia for more than 40 years."
 

Excerpt from Adweek -- "Alixandra Barasch, assistant professor of marketing at New York University, said that Trump’s threats can profoundly affect businesses, which she’s seen most clearly when public companies’ stock prices have moved due to a single tweet. 'The current TikTok situation is an interesting one, because it more directly affects actual consumer decisions—not just Wall Street,' Barasch told Adweek. 'I could see it going in both directions, but either way, it’s clear that Trump’s comments—no matter how valid or legal—have a profound influence on real business outcomes.'”

Excerpt from Forbes -- “'People tend to function on autopilot until something inside their heads or in the world around them subtly or explicitly suggests it’s time to move on. Reaching the end of a feed is one such cue; removing the endpoint short-circuits that cue,' said Adam Alter, author and NYU professor, in a Medium post written by Rebecca Fishbein."

Excerpt from CoinTelegraph -- "Smart contracts have limited efficiency in certain industries if not implemented in conjunction with IoT sensors according to experts in blockchain and business from NYU. Stern School of Business Associate Professors Hanna Halaburda and Yannis Bakos presented their research at the Unitize conference July 10 on the interaction between smart contracts and Internet of Things (IoT) sensors in improving business efficiencies."

Excerpt from CNBC -- "Shares of Tesla have exploded lately, soaring 30% this month alone and bringing its 2020 gains to a whopping 230%. New York University professor Aswath Damodaran, sometimes called the 'Dean of Valuation,' called Tesla a 'story stock,' meaning its prices are not driven by news events or fundamentals."

Excerpt from Yahoo Finance -- "'All of these factors point to the heightened importance of platforms like Uber Eats in the economy of the future,' said NYU Stern’s Arun Sundararajan, the Harold Price Professor of Entrepreneurship, who co-authored the study with NYU Stern PhD student Manav Raj and Uber Technologies data scientist Calum You. 'COVID-19 is dramatically accelerating the transition to online commerce. Platform demand has been central to riding out the economic shock, especially for small businesses.'"

Excerpt from The Wall Street Journal -- "'This shock is going to cause a very large amount of economic damage,' said Michael Spence, a professor of economics at NYU’s Stern School of Business. 'A lot of these policies are essentially moving that damage to the sovereign balance sheet. It’s not that anybody thinks it’s ideal, but it may be better than leaving it lying around in the business sector or in the household sector.'"

Excerpt from The Wall Street Journal -- "'If a venture-backed company either can’t survive this pandemic or can’t convince investors to put in more money to hold on to employees, then either they should be laid off or the business should be shut down,' added Mr. Galloway. 'Every bailout leads to moral hazard, which leads to a bigger bailout later.'"

Excerpt from BBC -- "Still, blending elements of a traditional shop with digital technology, safety and convenience could create a unique niche in the market. 'Maybe the answer is: you can touch and feel a product without having to actually go to a traditional, [crowded] store,' says Anindya Ghose, a professor of business at New York University. 'All [Grocery Neighbour] needs to do is figure out one hook that is really appealing to consumers where it’s no longer a want but a need.'"

Excerpt from NBC News -- "'What’s going on in Hong Kong lays bare what the Chinese system really is all about. They are repressing the most open corner of China,' said Paul Barrett, deputy director of New York University’s Center for Business and Human Rights."

Excerpt from The International Economy -- "Many advanced economies, especially those in Western Europe, as well as China, will face a version of this disease in the next decade or so. They too have high government debt and aging populations.These countries need to redesign pension and healthcare systems to manage the wave of people that everyone knows is coming. This will involve lengthening working lives, increasing saving, encouraging female employment and immigration in places where it is low, and possibly reducing the generosity of planned benefits. Only then can we maintain standards of living. Hopefully Japan will show us the way."

Excerpt from Seeking Alpha -- "'The biggest loss to Microsoft is the continuous antitrust scrutiny that does not allow it to make significant acquisitions in telecommunications and the Internet in the United States during the period of intense antitrust scrutiny.'"

Excerpt from The Wall Street Journal -- "Perhaps the most systematic effort to quantify investor exuberance was conducted 20 years ago by Malcolm Baker, a finance professor at Harvard Business School, and Jeffrey Wurgler, a finance professor at New York University.

In research done in the wake of the bursting of the internet-stock bubble, they identified five variables for comparing investor sentiment at different points in time and showing how that relates to stock performance. A composite of those indicators shows that the current market is far less exuberant than in the late 1990s."

Excerpt from InsideHook -- "Dolly Chugh is an award-winning social psychologist at the New York University Stern School of Business, and her research-backed book, 'The Person You Mean To Be: How Good People Fight Bias,' is full of tools about how to stand up for others and change your behavior every day."

Excerpt from Business Insider -- "Milkman calls these costs 'exceptional expenses' that aren't really exceptional at all. The concept, she said, was explored in a 2012 paper by Abigail Sussman, an associate professor of marketing at the University of Chicago Booth School of Business, and Adam Alter, an associate professor of marketing at New York University Stern School of Business."

Excerpt from Yahoo Finance -- "And as NYU Stern School of Business assistant professor of marketing Alixandra Barasch points out, the small advertisers that make up the majority of Facebook’s advertising partners often can’t afford to leave the social network for other outlets. 'They are not going to be able to afford any kind of mass market advertising campaign, so they can’t go to TV, and they don’t want to,' Barasch explained."

Excerpt from Bloomberg -- "The pandemic has done more than gut revenue at retailers. It has disrupted the flow of goods to sales floors and forced the cancellation of high-end fashion shows that influence what styles consumers will buy next year. 'The supply chain is broken, the fashion calendar is no longer in place, and who wants to be out buying designer brands with all the social questions we’re asking ourselves right now?' said Thomai Serdari, who teaches luxury branding and marketing at New York University’s Stern School of Business. 'There’s too much happening at the same time. We have to rethink this industry.'”

Excerpt from Forbes -- "Reflecting the modern role of the chief financial officer, the books these executives read focus on strategy, leadership, and problem-solving. Truly, finance chiefs priorities are making their organizations competitive to judge by their reading selections."

Excerpt from China Daily -- "Robert Engle, 2003 Nobel Prize laureate in Economics and a professor at New York University, made the comment during a video forum organized by the University of Science and Technology of China on Tuesday. The economist said the warning has been made by many scientists and he believes it to be so. He worries that the pandemic could be just a 'dress rehearsal' to more crises. This pandemic is highly associated with a zoonotic virus and with climate warming, such crises may become more frequent as animals migrate, said Engle, before he moved on to his lecture's focus on financial issues."

Excerpt from Yahoo Finance -- "Nouriel Roubini expects the near-term economic recovery from the coronavirus crisis to be relatively weak, the famed economist told Yahoo Finance in an interview, potentially giving way to an even deeper downturn further down the road. Until very recently, investors have been aggressively ramping up expectations of a ‘V-shaped’ rebound — until COVID-19 infections began surging nationwide."

Excerpt from CNBC -- "The question is how many companies ultimately sign up and how long does the boycott go on. If it turns out to be a one-month or even six-month affair, that's not going to bring Facebook to heel necessarily. If it turns out to be something more substantial, then Mark Zuckerberg will feel it in his pocketbook and conceivably make even more significant changes."

Excerpt from CGTN -- "To avoid this scenario, governments should establish mechanisms for large-scale debt restructuring. Tax deferrals and guarantee schemes have made governments creditors to a large number of small businesses. In a paper with Olivier Blanchard of the Peterson Institute and Thomas Philippon of New York University, we propose to let private creditors – primarily banks – know that governments will support decisions to restructure viable companies' debt and will participate in the resulting rescheduling or forgiveness of existing claims. Because governments value the positive impact of businesses' survival on all sorts of stakeholders, they should even let it be known that it will add a "continuation premium" to whatever private creditors do. This could save a lot of jobs."

Excerpt from Stanford Social Innovation Review -- "Financial markets run on the often-unspoken assumption that human beings make perfectly rational decisions that drive capital to the highest-performing enterprises. Indeed, the finance field promulgates an image of dispassionate investors who tirelessly comb through opportunities and seamlessly integrate information to optimize their portfolios."

Excerpt from USA Today -- "Edward Altman, the Max L. Heine professor emeritus of finance at New York University’s Stern School of Business, credits federal government stimulus, saying small business loans, stimulus checks and additional unemployment insurance have allowed people to avoid bankruptcy so far. 'But these measures are only temporary' Altman said. 'At some point, they’ll run out and personal bankruptcies will surge.' In the meantime, Altman believes corporate bankruptcy filings will continue to rise, and that 2020 will prove to be one of the busiest years since the Great Recession – especially for companies with more than $100 million in total liabilities."

Excerpt from CNN -- "Still, David Yermack, a professor at NYU Stern School of Business, argued the Hertz bankruptcy had little to do with its previous private equity ownership. 'It was inevitable that a firm like Hertz, which had grossly over-expanded, would have needed to restructure itself,' Yermack said. 'The rental car industry needed to shrink.'"