# Prof. David Yermack's research on Michelle Obama's fashion choices is highlighted

1 Faculty News January 17, 2014 ![Politico logo](/sites/default/files/styles/246w/public/assets/images/con_031428.jpg?itok=o8EDTRWD)>

Excerpt from [Politico](http://www.politico.com/magazine/story/2014/01/michelle-obama-an-icon-at-50-102297.html#.Utk9pLQo5zk) -- "Her influence, known as the 'Michelle Obama Effect,' has literally moved markets: A 2009 study at NYU’s Stern School of Business examined 29 companies whose clothes she had worn over the previous year, and found that the firms experienced, on average, 2-3 percent climb in stock prices as a result. When her husband was still on the campaign trail, she wore a green pencil skirt by J. Crew on 'The Tonight Show,' and is said to have accounted for a 25 percent spike in the company’s stock over the next three days."
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