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Song Ma

Song Ma

Associate Professor of Finance

Professor Ma’s main research interests are corporate finance, entrepreneurial finance, and innovation economics. His current research agenda focuses on understanding economic frictions in the process of financing and organizing innovation and entrepreneurial activities, and how to mitigate those frictions through financial and organizational arrangements. He also studies how entrepreneurship contributes to economic growth and the underlying mechanism.  Dr. Ma received his PhD in Finance from Duke University’s Fuqua School of Business and his BA in Economics from Zhejiang University.


  • PhD, Duke University, 2016
  • BA, Zhejiang University, 2010


Bankrupt Innovative Firms

S. Ma, J. Tong, and W. Wang
Management Science

How Does Hedge Fund Activism Reshape Corporate Innovation

A. Brav, W. Jiang, S. Ma, and X. Tian
Journal of Financial Economics, issue 2, vol. 130, pp. 237-264

Firm Age, Investment Opportunities and Job Creation

S. Ma, M. Adelino, and D. Robinson
Journal of Finance, issue 3, vol. 72, pp. 999-1038

Working Papers

Young Firms, Old Capital

S. Ma, J. Murfin, and R. Pratt
Journal of Financial Economics

Persuading Investors: A Video-Based Study

S. Ma and A. Hu


  • 40 Under 40 Best Business School Professors, Poets & Quants, 2021
  • Robert F. Lanzillotti Prize for the Best Paper in Antitrust Economics, IIOC, 2020
  • Jensen Prize for Best Paper on Corporate Finance, Journal of Financial Economics, 2019
  • Charles River Associates Award for the Best Paper on Corporate Finance, Western Finance Association, 2018
  • Academy of Management Annual Meeting Best Paper Award, 2018
  • Sumantra Goshal Research and Practice Award, AOM Strategic Management, 2018
  • AQR Top Finance Graduate Award, 2016