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

1 Faculty News April 8, 2019 ![Go Banking Rates logo](/sites/default/files/styles/246w/public/assets/images/Go-Banking-Rates-logo-feature.jpg?itok=_H5jlE4d)>

Excerpt from [Go Banking Rates](https://www.gobankingrates.com/making-money/wealth/wardrobes-of-most-influential-women-in-world/#14) -- "According to a study done by [David Yermack](https://www.stern.nyu.edu/faculty/bio/david-yermack), a business and finance professor at New York University’s Stern School, Obama’s fashion choices are worth $14 million per appearance to the designers."

[Read more](https://www.gobankingrates.com/making-money/wealth/wardrobes-of-most-influential-women-in-world/#14)