Faculty News
Professor David Yermack's research on the relationship between charitable giving and stock prices is cited in connection with the formation of the Chan Zuckerberg Initiative
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Excerpt from Inc. -- "At least one academic report suggests chief executives tend to make significant stock gifts following a run up in share prices. And given the current frothy environment around tech stocks, where Facebook's own stock is at a near historic high of $107 a share as of Wednesday afternoon, the timing makes sense. 'The gift date itself on average represents a turning point in the stock's trajectory, with company prices moving lower in the months after a gift is made,' David Yermack, a professor of finance at the NYU Stern School of Business, wrote in a 2008 article in the Journal of Financial Economics."
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Additional coverage appeared on The Daily Beast and the Financial Post.
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Additional coverage appeared on The Daily Beast and the Financial Post.