Prof. David Yermack's research on Michelle Obama's fashion choices is highlighted
— January 17, 2014
Excerpt from Politico -- "Her influence, known as the 'Michelle Obama Effect,' has literally moved markets: A 2009 study at NYU’s Stern School of Business examined 29 companies whose clothes she had worn over the previous year, and found that the firms experienced, on average, 2-3 percent climb in stock prices as a result. When her husband was still on the campaign trail, she wore a green pencil skirt by J. Crew on 'The Tonight Show,' and is said to have accounted for a 25 percent spike in the company’s stock over the next three days."