Experience Stern | News & Events

Excerpt from the Financial Times -- "David Yermack, a professor at the Stern School of Business at New York University, conducted an analysis in 2005 that established a link between aircraft perks and inferior shareholder returns. Mr Yermack analysed a decade’s worth of data on 237 large companies and found those that disclosed corporate aircraft benefits underperformed market benchmarks by more than 4 per cent a year on average. This chief executive perk, where disclosed, 'is associated with severe and significant underperformance of their employers' stocks', Mr Yermack said."

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