# Prof. David Yermack's research on Michelle Obama's wardrobe

1 January 28, 2014 The Wall Street Journal ![Wall Street Journal logo](/sites/default/files/styles/246w/public/assets/images/wsjlogo.jpg?itok=5Qt0z3WX)>

Excerpt from [The Wall Street Journal](http://blogs.wsj.com/speakeasy/2014/01/28/michelle-obamas-state-of-the-union-style/?KEYWORDS=%22stern+school%22) -- "Professor [David Yermack](http://www.stern.nyu.edu/faculty/bio/david-yermack) of NYU’s Stern School found in a 2010 study that the first lady’s wardrobe choices could not only boost stock prices of associated companies, but, on average, a public appearance in a brand’s clothing was worth about $14 million."

[Read more](http://blogs.wsj.com/speakeasy/2014/01/28/michelle-obamas-state-of-the-union-style/?KEYWORDS=%22stern+school%22)