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  • School News

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    Prof. Susan Stehlik's undergraduate class experiment on gender and leadership is highlighted

    Excerpt from Entrepreneur -- "In an experiment conducted at the Stern School of Business at New York University in 2003, male and female graduate students who assessed the leadership capabilities of a real-life successful entrepreneur named Heidi were far more inclined to admire this accomplished individual when she was recast as Howard. Judging the likeability factor. Students given the case study about Heidi perceived her as 'selfish,' 'out for herself,' and 'a little political' -- in short, not as likable as Howard. When this experiment was replayed in 2013, substituting Kathryn and Martin for Heidi and Howard, students actually liked Kathryn slightly better than Martin (8 versus 7.6) -- but they didn’t trust her nearly as much (6.4 for Kathryn, 7.8 for Martin). As the evaluators explained to CNN correspondent Anderson Cooper, who staged the replay, 'men seem more genuine,' whereas women seem to be 'trying too hard,' making them less trustworthy."
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    The Sharing Economy Summit at Stern is featured

    Excerpt from Bloomberg Businessweek -- No one expected a lovefest when Meera Joshi, the chairwoman of New York’s Taxi and Limousine Commission, and David Estrada, the vice president of government relations for ride-sharing startup Lyft, sat on a panel to discuss 'Regulation and New Business Models' at a recent conference at New York University. Lyft would love to operate in New York City, but city regulations prohibit the startup’s version of a taxi service, in which nonprofessionals use private vehicles to shuttle passengers. This is exactly the kind of regulatory obstructionism that infuriates proponents of the so-called sharing economy, but an audience expecting fireworks was disappointed. The mutual affection was so thick that several times the moderator apologetically noted his inability to create any contentiousness."
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  • Faculty News

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    Prof. William Baumol's "cost disease" theory is highlighted

    Excerpt from The Huffington Post -- "Economist William Baumol noticed that in certain of our endeavors labor costs continue to rise though labor productivity does not increase. His famous example was a Beethoven quartet which takes exactly as much time to play today as it did one hundred years ago and with exactly the same number of players. But those musicians now make more money."
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    The Sharing Economy Summit at Stern is highlighted

    Excerpt from Next City -- "Those five stages — technical possibility, social adoption, regulatory reaction, civil disobedience, and negotiated settlement — argued [speaker Clay] Shirky, are likely going to echo throughout the sharing economy over the next few years. And we’re at least on Stage Two; Shirky told of recently trying to street-hail a Manhattan taxi cab to take his nine-year-old daughter to dance class by waving his arms and scanning the horizon. His daughter’s assessment of that approach: 'Uh, Dad, don’t you have Uber?'"
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  • Faculty News

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    Profs John Asker & Alexander Ljungqvist's research on private vs. public company investments is cited

    Excerpt from Harvard Business Review -- "Boeing’s decision to minimize its assets was made with Wall Street in mind. RONA is used by financial analysts to judge managers and companies, and the fixation on this kind of metric has influenced the choices of many firms. In fact, research by the economists John Asker, Joan Farre-Mensa, and Alexander Ljungqvist shows that a desire to maximize short-term share price leads publicly held companies to invest only about half as much in assets as their privately held counterparts do."
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  • Faculty News

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    In an op-ed, Prof. Nouriel Roubini discusses a resurgence of economic nationalism

    Excerpt from Project Syndicate -- "The main causes of these trends are clear. Anemic economic recovery has provided an opening for populist parties, promoting protectionist policies, to blame foreign trade and foreign workers for the prolonged malaise. Add to this the rise in income and wealth inequality in most countries, and it is no wonder that the perception of a winner-take-all economy that benefits only elites and distorts the political system has become widespread. Nowadays, both advanced economies (like the United States, where unlimited financing of elected officials by financially powerful business interests is simply legalized corruption) and emerging markets (where oligarchs often dominate the economy and the political system) seem to be run for the few."
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  • Faculty News

    Prof. Michael Spence discusses India's economic outlook

    Excerpt from CNBC-TV18 -- "Nobel laureate and an acknowledged authority on growth and policy in developing countries, Spence feels that on policy side, the government should have an open approach. 'The potential in India is enormous. The human capital, the talent and so on, it’s just a matter of getting the obstacles out of the way,' he told CNBC-TV18’s Latha Venkatesh."
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    Prof. Jennifer Carpenter discusses her recent research with Prof. Whitelaw on China's stock market

    Excerpt from CCTV -- "Now that China's become the world's largest investor – investing twice as much as the US last year in real terms, so it's really the largest investor by a wide margin – the efficiency of China's investment is a matter of global concern. And China's financial system will largely determine the efficiency of that investment because it's the financial system that decides which projects get financed. And China's financial system has been dominated by its banking sector, while the stock market's been a bit of a side show. But what our research is finding is that China's stock market is actually doing quite well and probably deserves more attention and more capital."
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    MBA student Troy Green discusses his investment strategies

    Excerpt from CNBC -- "Everyone is worried about the economy, but overall you have to take the GDP numbers, you have to take the more macroeconomic factors as more of a 10,000-foot level and... in making specific investments, you have to narrow it down more to a company-specific investment and that's what I do in investing. That's what we do at Stern as well. I work in the student Michael Price investment fund and we're always looking at stocks. We're always evaluating different positions and poking holes in different theses..."
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