We discuss dynamical mass generation for fermions and (string-inspired) pseudoscalar fields (axion-like particles (ALP)), in the context of effective theories containing Yukawa type interactions between the fermions and ALPs. We discuss both Hermitian and non-Hermitian Yukawa interactions, which are motivated in the context of some scenarios for radiative (anomalous) Majorana sterile neutrino masses in some effective field theories. The latter contain shift-symmetry breaking Yukawa interactions between sterile neutrinos and ALPs. Our models serve as prototypes for discussing dynamical mass generation in string-inspired theories, where ALP potentials are absent in any order of string perturbation theory, and could only be generated by stringy non perturbative effects, such as instantons. The latter are also thought of as being responsible for generating our Yukawa interactions, which are thus characterised by very small couplings. We show that, for a Hermitian Yukawa interaction, there is no (pseudo)scalar dynamical mass generation, but there is fermion dynamical mass generation, provided one adds a bare (pseudo)scalar mass. The situation is opposite for an anti-Hermitian Yukawa model: there is (pseudo)scalar dynamical mass generation, but no fermion dynamical mass generation. In the presence of additional attractive four-fermion interactions, dynamical fermion mass generation can occur in these models, under appropriate conditions and range of their couplings.