# Prof. Thomas Philippon's research on the finance industry is cited

1 Faculty News March 31, 2015 ![Financial Times logo](/sites/default/files/styles/246w/public/assets/images/uat_025699.jpg?itok=5SpaxEbn)>

Excerpt from [Financial Times](http://www.ft.com/intl/cms/s/2/7a1a9882-cc9d-11e4-b5a5-00144feab7de.html#axzz3VyO476V8) -- "[Thomas Philippon](http://www.stern.nyu.edu/faculty/bio/thomas-philippon), professor of finance at New York University’s Stern school of business, has found little evidence of such a boost to productivity, at least for the finance industry as a whole. His research suggests the costs of finance to society remain fairly static, at about 1.5-2 per cent of the total amount being intermediated."

[Read more](http://www.ft.com/intl/cms/s/2/7a1a9882-cc9d-11e4-b5a5-00144feab7de.html#axzz3VyO476V8)

Additional coverage appeared on [Financial Times](http://ftalphaville.ft.com/2015/04/01/2125605/beneficiary-of-rent-extraction-says-rents-explain-inequality/).