NYU Stern

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David L. Yermack

David L. Yermack

Joined Stern 1994

Leonard N. Stern School of Business
Kaufman Management Center
44 West Fourth Street, 9-56
New York, NY 10012

E-mail dyermack@stern.nyu.edu
Personal website

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Biography

David L. Yermack is the Albert Fingerhut Professor of Finance and Business Transformation at New York University Stern School of Business. Professor Yermack teaches courses in corporate finance, restructuring firms and industries, and law and finance.

Professor Yermack has been with NYU Stern since 1994. His primary research areas include boards of directors, executive compensation, executive stock options, and law and finance. Professor Yermack has been published in many journals including Journal of Financial Economics, Journal of Finance, and Journal of Law, Economics, and Organizations.

Professor Yermack received his Bachelor of Arts in economics, Master of Business Administration, Jurist Doctor degree, Master of Arts in business economics, and Doctor of Philosophy in business economics from Harvard University.

Research Interests

  • Corporate governance
  • Executive compensation
  • Theory of the firm

Courses Taught

  • Corporate Finance
  • Restructuring Firms and Industries

Academic Background

Ph.D., Business Economics, 1994
Harvard University

M.A., Business Economics, 1993
Harvard University

J.D., 1991
Harvard University

M.B.A., 1991
Harvard University

B.A., Economics, 1985
Harvard University

Selected Publications

Yermack, D. (2006)
Flights of Fancy: Corporate Jets, CEO Perquisites, and Inferior Shareholder Returns
Journal of Financial Economics

Hartzell, J., Ofek, E., and Yermack, D. (2004)
What's In It For Me? CEOs Whose Firms Are Acquired
Review of Financial Studies

Ofek, E., and Yermack, D. (2000)
Taking Stock: Equity-Based Compensation and the Evolution of Managerial Ownership
Journal of Finance

Yermack, D. (1997)
Good Timing: CEO Stock Option Awards and Company News Announcements
Journal of Finance

Yermack, D. (1996)
Higher Market Valuation of Companies with a Small Board of Directors
Journal of Financial Economics

Related Research

Prof. David Yermack's research on creeping acquisitions of stock is highlighted

Prof. David Yermack on the increasing number of virtual shareholder meetings

Prof. David Yermack's course on bitcoin is highlighted

Prof. David Yermack discusses his course on Bitcoin

Prof. David Yermack discusses the future of bitcoin

Prof. David Yermack's research on corporate governance is cited

Prof. David Yermack's research on the connection between CEO vacation and stock returns is featured

Prof. David Yermack discusses investor interest in Bitcoin

Prof. David Yermack's course on Bitcoin is featured

Prof. David Yermack discusses Kentucky State University interim president Raymond Burse's $90,000 pay cut

Prof. David Yermack on Eric Cantor's new position as Vice Chairman of Moelis

Prof. David Yermack on the connection between a company's success and the size of its board of directors

Prof. David Yermack's research on CEO vacations is highlighted

Prof. David Yermack on golden parachutes offered to CEOs during mergers

Prof. David Yermack's research on Bitcoin is highlighted

Prof. David Yermack weighs in on Bitcoin's post-auction price increase

Prof. David Yermack's research on the implications of shareholder meeting locations is cited

Prof. David Yermack's research on the impact of CEO use of corporate jets for personal travel is cited

Prof. David Yermack on the leak of potential bidders for the government's auction of seized Bitcoins

Prof. David Yermack's research on the link between CEO vacations and stock prices is featured

Areas of Expertise

Ethics

  • Law & Business

Finance

  • Corporate Finance
  • Corporate Governance
  • Executive Pay
  • Mergers & Acquisitions

Industry

  • Non-Profit
  • Sports