David Yermack

David L. Yermack is the Albert Fingerhut Professor of Finance and Business Transformation at New York University Stern School of Business. He serves as Chairman of the Finance Department and Director of the NYU Pollack Center for Law and Business. His primary research areas include boards of directors, executive compensation, and corporate finance. Professor Yermack teaches joint MBA - Law School courses in Restructuring Firms & Industries and Bitcoin & Cryptocurrencies, as well as PhD research courses in corporate governance, executive compensation, and distress and restructuring.

"The Blockchain Is Going to Revolutionize Central Banking and Monetary Policy"

Will governments start using central banks to issue sovereign currency on blockchains? And if so, will that be the end of the fractional reserve...

Blockchains and Corporate Finance: “In a Blockchain Market, Shareholder Activists Might Play Much Less of a Role”

Will blockchain technology lead to less shareholder activism and higher executive compensation? Watch David Yermack’s full Stigler Center lecture on the potential implications of blockchain...

"I Expect That Within the Next 10 Years, Probably Half of the Banks Will be Gone”

Watch David Yermack's full Stigler Center lecture on the potential implications of blockchain technology for the future of finance. First part of a three-part series.  In...

Latest news

Voters Still Believe Politics is About the Common Good, Not Just Rent-Seeking

Do voters still believe that politics can be a source for common-good policies and not just partisan bickering and rent-seeking? With political...

How to Design Data Protection Laws That Actually Work 

More and more countries are passing data protection laws, yet empirical studies show that these laws rarely deliver on their promises. A...

Are Monopolists or Cartels the True Source of Anticompetitive US Political Power?

Trade associations are often the biggest obstacles to competitive markets, especially when those organizations use their influence to change public policy in...

The Uber Files Reveal The Risk of Private Interests Controlling Our Data

Researchers discovered that the introduction of Uber had negative impacts on transportation, findings that required cooperation with public authorities when Uber refused...

Google’s Anticompetitive Conduct and the Remedies to Prevent It

The Stigler Center, of which ProMarket is a part, recently hosted a panel discussion looking at the antitrust case against Google and...

“Uber Has Higher Prices and Worse Service Than the Taxi Industry Had Ten Years Ago”

Following the Uber Files leaks, transportation expert Hubert Horan explains why Uber is “hopelessly uneconomic” and how its engagement with policymakers and...

The FTC Should Quickly Issue New Section 5 Enforcement Guidelines

Unfair methods of competition are prohibited by Section 5 of the Federal Trade Commission (FTC) Act. The FTC has withdrawn the existing...