Columbia Business School In the News

 Angela Lee, professor of practice at Columbia Business School, offered expert commentary on Yahoo Finance’s Catalyst regarding the current freeze in the IPO market amid escalating trade tensions and historic market volatility.Lee pointed to the broader economic uncertainty and extreme market swings—measured by the VIX reaching one of its highest points in the last two decades—as key reasons why companies are holding off on going public. “Nobody wants to IPO into that sort of market,” Lee explained, referencing the sharp drop in share price experienced by newly public company CoreWeave as a cautionary example.She also warned of long-term ripple effects, particularly for innovation and entrepreneurship. “If the next Airbnb or Uber doesn’t start right now, we’re not going to see that company IPO in 10 years,” she said, noting how tightening capital cycles could stifle future growth.Watch the full segment here: Yahoo Finance: Catalyst – April 8, 2025

Columbia Business School continues to be recognized as one of the world’s leading business schools, earning a top spot in the 2025 U.S. News & World Report MBA ranking, as highlighted by Poets & Quants. The School was named among the top 10 MBA programs in the nation, reaffirming its strength in academic rigor, faculty excellence, career outcomes, and its central location in the global business hub of New York City.Poets & Quants noted that this year’s ranking reflects growing emphasis on career placement and compensation metrics, areas where Columbia consistently excels. With robust employer partnerships, a strong alumni network, and unparalleled access to industries ranging from finance and consulting to tech and entrepreneurship, CBS remains a destination of choice for aspiring business leaders.Read more on Poets & Quants.

As markets reel from the effects of newly announced U.S. tariffs, Fortune turned to top leadership experts for insight into how business leaders should respond. Among them was Adam Galinsky, Professor of Leadership and Ethics at Columbia Business School, who emphasized the importance of timely, transparent communication during times of volatility.Galinsky advised CEOs to avoid waiting for complete information before speaking to investors or employees. “The single worst thing you can do is wait for complete information before you communicate,” he told Fortune, underscoring that people want to feel their leaders are present and proactive—especially in uncertain moments.He also recommended that CEOs share contingency plans to demonstrate strategic foresight: “Investors need to know that leaders are thinking contingently and strategically,” he said.Read the full article here.

In a recent Incrypted article, Omid Malekan, Associate in Business at Columbia Business School and expert in blockchain and digital finance, shared his perspective on the implications of President Trump's sweeping new tariff policy for the cryptocurrency industry. The April 2 executive order, which imposed a 10% base tariff on imports from 185 countries, caused turmoil across global markets and significant volatility in crypto assets.Malekan highlighted that, despite short-term price drops, the weakening of the U.S. dollar under current trade policies could ultimately enhance Bitcoin’s status as “digital gold.” He noted, “Tariffs will weaken the dominant role of the dollar and create space for competitors, including Bitcoin.”As economic uncertainty continues, Malekan’s insights underscore the growing role of cryptocurrency as a hedge against inflation and traditional market instability. The article, "Going to Battle: Where U.S. Tariff Policy Leads and Its Threat to the Crypto Industry", explores how the evolving global trade landscape could shape the future of digital assets.Read the full article here.

As retail investing surges and trading behaviors become increasingly speculative, Kairong Xiao, Associate Professor of Business at Columbia Business School, offers perspective on the blurred lines between investing and gambling in MarketWatch.In the article, "Is Investing Becoming More Like Gambling?", Xiao emphasizes that what distinguishes traditional investing from gambling is “a consistent expectation of positive return.” He explains that while many retail investors treat the market as a place to place high-risk bets—particularly through short-term options and speculative stocks—such behavior typically lacks the long-term strategy fundamental to sound investing.Xiao’s insights help frame the conversation around retail investor behavior, financial literacy, and the increasing gamification of trading platforms.

CNBC’s exploration of Federal Reserve Chair Jerome Powell’s signature purple ties includes insight from Brett House, economist and professor of professional practice at Columbia Business School. The article examines how Powell’s personal presentation is part of a broader effort to underscore the Fed’s nonpartisan identity during a period of heightened political and economic scrutiny.House noted that Powell’s careful attention to his appearance and messaging is part of a broader strategy to maintain the Fed’s image as an apolitical institution. “He’s trying to reinforce the idea that the Fed is not aligned with either side of the political spectrum, particularly in a moment when the institution is under scrutiny,” House said.The article, "Why Fed Chair Jerome Powell Wears Purple Ties: 'We Are Non-Political',", delves into how even subtle choices by leaders can reflect deeper institutional values—especially during times of heightened economic and political tension.

As bond markets respond to new economic pressures, Harry Mamaysky, Professor of Professional Practice at Columbia Business School, offered insight into what falling yields are signaling about investor psychology in Marketplace. With 2-year Treasury yields declining, the shift suggests that investors are increasingly concerned about an economic slowdown rather than inflation.“The bond market is starting to tell you that a slowdown is a real possibility,” Mamaysky explained. He emphasized that while inflation remains a factor, the greater fear is now about shrinking growth and how long current volatility could last.His commentary adds depth to a broader discussion about how the Treasury market is interpreting the impact of tariffs, consumer demand, and Federal Reserve policy decisions.Read or listen to the full segment: Marketplace – "So far, 2-year Treasury yields show slowdown fears beating inflation fears"

Columbia Business School academic director Rita McGrath provided insights to NBC New York on identifying indicators of an impending recession and offered strategies for preparation. She emphasized the importance of monitoring economic signals and advised individuals and businesses to take proactive steps to mitigate potential financial challenges. ​Watch the full segment here. 

Columbia Business School finance professor Geert Bekaert offered expert analysis in USA Today on how President Trump’s sweeping new tariffs could ripple through the U.S. economy. Bekaert cautioned that the policy could accelerate inflation while undermining consumer spending and investor confidence.“These kinds of broad-based tariffs tend to work like a tax on consumers,” Bekaert noted, highlighting the risk of a slowdown just as markets reel from ongoing volatility. His insights contributed to a broader discussion on how businesses, consumers, and financial markets are bracing for potential long-term effects.Read the full article here.

Columbia Business School’s Glenn Hubbard, dean emeritus and former chair of the Council of Economic Advisers, is featured in National Review for his critique of the protectionist trade policies championed by former Trump adviser Peter Navarro. In the article, "Peter Navarro’s Moment," Hubbard challenges the economic rationale behind widespread tariffs, calling them harmful to U.S. competitiveness.“Tariffs are not pro-growth, and they won’t bring back lost manufacturing jobs,” Hubbard argues, countering the populist narrative that trade barriers can revive American industry. He warns that policies based on economic nationalism risk isolating the U.S. and undercutting long-term productivity.Hubbard’s comments underscore the growing concern among mainstream economists that politically popular trade strategies may come at a steep cost to the broader economy.

Columbia Business School’s Glenn Hubbard, dean emeritus and professor of finance and economics, is cited in Project Syndicate for co-authoring a bold and targeted alternative to the Trump administration’s new tariff policies. Alongside Catherine Wolfram, Hubbard outlines a more effective approach to weakening Russia’s war effort by focusing on its fossil-fuel revenues.Rather than imposing sweeping tariffs that risk harming U.S. consumers and global markets, Hubbard and Wolfram propose a “Russian universal tariff” (RUT)—a per-shipment fee applied to Russian oil and gas sales. This strategy would pressure Russia into genuine peace negotiations while leveraging the country’s dependence on energy exports. As the article notes, a $20-per-barrel tariff could yield up to $50 billion annually for the U.S., either incentivizing diplomatic progress or helping offset the global costs of Russia’s war in Ukraine.Their proposal is framed as a pragmatic, enforceable, and high-impact alternative to broader tariff measures criticized by both Democratic and Republican economists.Read the full article: A US Tariff Idea That Makes Sense – Project Syndicate

In an interview with NPR's All Things Considered, Columbia Business School professor Brett House discussed the impact of President Trump’s escalating tariffs on the U.S. and global financial markets. Speaking with host Ari Shapiro and financial correspondent Maria Aspan, House noted that a change in the administration’s approach is unlikely without significantly more public dissent from business leaders and deeper market instability. “I think we're unlikely to see a change in direction from the White House until we see a great deal more voices come forward and we see further pain in financial markets,” House said. The segment explored growing concern among Wall Street executives, including JPMorgan Chase CEO Jamie Dimon and investor Bill Ackman, about the economic consequences of the ongoing trade war.Listen to the full segment now. 

In a recent Forbes article published by the London School of Economics, Vanessa Burbano, Associate Professor of Management at Columbia Business School, is recognized for her pioneering research on the relationship between corporate social responsibility (CSR) initiatives and employee retention.The article, titled "How CSR Activities Reduce Turnover—And Why Men Stand to Benefit More Than Women," highlights Burbano’s findings that employees are more likely to stay with companies that engage in CSR efforts aligned with their personal values. Her research also uncovers a gender disparity in the retention effects of CSR, with male employees reporting stronger job satisfaction and reduced turnover intent when their employer engages in socially responsible activities.Burbano’s work continues to inform how organizations can strategically align purpose with performance to strengthen workforce engagement and loyalty.

CBS Mention

CBS Mention

Columbia Business School professor Lori Yue's research on corporate nationalism reveals companies using patriotic rhetoric tend to see higher domestic returns but may face international backlash. The Economist examines when embracing nationalism pays off for businesses in today's geopolitical landscape.