D
David Yermack
Researcher at New York University
Publications - 111
Citations - 24144
David Yermack is an academic researcher from New York University. The author has contributed to research in topics: Executive compensation & Corporate governance. The author has an hindex of 46, co-authored 110 publications receiving 22374 citations. Previous affiliations of David Yermack include University of Western Australia & National Bureau of Economic Research.
Papers
More filters
ReportDOI
Initial coin offerings: Financing growth with cryptocurrency token sales
TL;DR: The authors examined which issuer and ICO characteristics predict successful real outcomes (increasing issuer employment and avoiding enterprise failure). Success is associated with disclosure, credible commitment to the project, and quality signals.
Journal ArticleDOI
Investor Reactions to CEOs’ Inside Debt Incentives
Chenyang Wei,David Yermack +1 more
TL;DR: The authors study stockholder and bondholder reactions to companies' initial reports of CEOs' inside debt positions following a 2007 SEC disclosure reform and find that bond prices rise, equity prices fall, and the volatility of both securities drops for firms whose CEOs have sizeable defined benefit pensions or deferred compensation.
Journal ArticleDOI
Initial Coin Offerings: Financing Growth with Cryptocurrency Token Sales
TL;DR: The authors examined which issuer and ICO characteristics predict successful real outcomes (increasing issuer employment and avoiding enterprise failure). Success is associated with disclosure, credible commitment to the project, and quality signals.
Journal ArticleDOI
How Much of the Diversification Discount Can be Explained by Poor Corporate Governance
TL;DR: This paper investigated whether the diversification discount occurs partly as an artifact of poor corporate governance and found that the discount narrows by 16% to 21% when they add governance variables as regression controls.
Journal ArticleDOI
Altering the Terms of Executive Stock Options
TL;DR: In this article, the authors examine the practice of resetting the terms of previously-issued executive stock options and identify properties of reset options, develop a model for valuing resettable options, and characterize the firms that have reset options.