NYU Stern

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David L. Yermack

David L. Yermack

Joined Stern 1994

Leonard N. Stern School of Business
Kaufman Management Center
44 West Fourth Street, 9-56
New York, NY 10012

E-mail dyermack@stern.nyu.edu
Personal website

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Biography

David L. Yermack is the Albert Fingerhut Professor of Finance and Business Transformation at New York University Stern School of Business. Professor Yermack teaches courses in corporate finance, restructuring firms and industries, and law and finance.

Professor Yermack has been with NYU Stern since 1994. His primary research areas include boards of directors, executive compensation, executive stock options, and law and finance. Professor Yermack has been published in many journals including Journal of Financial Economics, Journal of Finance, and Journal of Law, Economics, and Organizations.

Professor Yermack received his Bachelor of Arts in economics, Master of Business Administration, Jurist Doctor degree, Master of Arts in business economics, and Doctor of Philosophy in business economics from Harvard University.

Research Interests

  • Corporate governance
  • Executive compensation
  • Theory of the firm

Courses Taught

  • Corporate Finance
  • Restructuring Firms and Industries

Academic Background

Ph.D., Business Economics, 1994
Harvard University

M.A., Business Economics, 1993
Harvard University

J.D., 1991
Harvard University

M.B.A., 1991
Harvard University

B.A., Economics, 1985
Harvard University

Selected Publications

Yermack, D. (2006)
Flights of Fancy: Corporate Jets, CEO Perquisites, and Inferior Shareholder Returns
Journal of Financial Economics

Hartzell, J., Ofek, E., and Yermack, D. (2004)
What’s In It For Me? CEOs Whose Firms Are Acquired
Review of Financial Studies

Ofek, E., and Yermack, D. (2000)
Taking Stock: Equity-Based Compensation and the Evolution of Managerial Ownership
Journal of Finance

Yermack, D. (1997)
Good Timing: CEO Stock Option Awards and Company News Announcements
Journal of Finance

Yermack, D. (1996)
Higher Market Valuation of Companies with a Small Board of Directors
Journal of Financial Economics

Areas of Expertise

Ethics

  • Law & Business

Finance

  • Corporate Finance
  • Corporate Governance
  • Executive Pay
  • Mergers & Acquisitions

Industry

  • Non-Profit
  • Sports