David Yermack

David Yermack serves as the Albert Fingerhut Professor of Finance and Business Transformation at New York University's Stern School of Business. His research and teaching focus on corporate finance, governance, and emerging digital currency technologies.

His primary research interests include Corporate Finance, Corporate Governance, Incentives, Contracting and Organizations, and Law and Economics. He has pioneered research in executive compensation structures, examining how CEO perks like corporate jets affect shareholder returns, and has extensively studied equity-based compensation mechanisms.

Professor Yermack teaches advanced courses including Digital Currency, Blockchains and the Future of Financial Services, where he examines bitcoin's impact on financial systems and regulatory challenges related to taxation and money laundering. His other course Firms and Industries covers corporate finance topics through an agency cost framework.

• PhD in Business Economics, Harvard University (1994)
• AM in Business Economics, Harvard University (1993)
• JD from Harvard Law School (1991)
• MBA from Harvard University (1991)
• AB in Economics, Harvard University (1985)

His publications reveal consistent focus on executive compensation and governance mechanisms, with notable work on CEO perquisites, stock options, and shareholder voting. Recent research increasingly addresses digital currency applications in financial services. His scholarly contributions appear in top journals including the Review of Financial Studies, Annual Review of Financial Economics, and the Journal of Finance.