# Professor David Yermack's research on the impact of First Lady Michelle Obama's fashion choices is featured

1 Faculty News May 14, 2016 ![NPR logo](/sites/default/files/styles/246w/public/assets/images/con_030855.jpg?itok=Ti1_93MD)>

Excerpt from [NPR](http://www.npr.org/sections/codeswitch/2016/05/14/477926313/mrs-obama-saves-the-cardigan-the-obama-effect-in-fashion) -- "'It was truly remarkable how much more effect Mrs. Obama had on the commercial fashion industry that almost any other celebrity you could find in any other commercial setting,' [Yermack](http://www.stern.nyu.edu/faculty/bio/david-yermack) says. And it wasn't just a freak blip on the graph: 'This would be a very permanent thing,' Yermack emphasized. 'The stocks would not go down the next day. So to put a number on it for just a generic company at a routine event, it was worth about $38 million to have Mrs. Obama wear your clothes.'"

[Read more](http://www.npr.org/sections/codeswitch/2016/05/14/477926313/mrs-obama-saves-the-cardigan-the-obama-effect-in-fashion)