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  1. Directory
  2. Faculty
  3. Yiming Ma

Yiming Ma

Regina Pitaro Associate Professor of Business
Finance Division
Yiming Ma
Areas of Expertise
Corporate Finance
Contact
Office: 767 Kravis
E-mail: [email protected]
Links
Curriculum Vitae

Yiming Ma is the Regina Pitaro Associate Professor in the Finance Division at Columbia Business School. She received her Ph.D. in Finance from the Stanford Graduate School of Business in 2018 and a B.A. in Economics & Mathematical and Global Affairs from Yale University in 2013. 

Her research focuses on financial intermediation, financial stability, and monetary policy. She is particularly interested in the evolving landscape of financial intermediation, where non-banks like mutual funds and ETFs are increasingly engaged in liquidity transformation while the traditional banking sector is transforming less liquidity than before. Her recent work examines the implications of this trend on asset prices, financial stability, and monetary policy transmission. Her findings have been published in leading academic journals, including the Review of Financial Studies and the Journal of Financial Economics, and cited by the Financial Times, the International Monetary Fund, the Securities and Exchange Commission, and the Federal Reserve.

Education
Ph.D in Finance, Stanford University, 2018; B.A. in Economics; Mathematics and Global Affairs, Yale University, 2013
Joined CBS
2018

All Activities

  • Research
  • Teaching
  • Awards and Honors
  • Press
  • CaseWorks
  • Journal articles
  • Working papers
  • Articles
  • Books
  • Chapters
Journal Article
Craig, Ben and Yiming Ma
. “Intermediation in the Interbank Lending Market.” (Forthcoming).
Explore Further about Intermediation in the Interbank Lending Market
Journal Article
Ma, Yiming, Kairong Xiao , and Yao Zeng
. “Mutual Fund Liquidity Transformation and Reverse Flight to Liquidity.” (Forthcoming).
Explore Further about Mutual Fund Liquidity Transformation and Reverse Flight to Liquidity
Working Paper
Ma, Yiming, Yao Zeng, and Anthony Lee Zhang
. Stablecoin Runs and the Centralization of Arbitrage. April 05, 2023.
Explore Further about Stablecoin Runs and the Centralization of Arbitrage
Download PDF on Stablecoin Runs and the Centralization of Arbitrage
Working Paper
Koont, Naz, Yiming Ma , Lubos Pastor, and Yao Zeng
. Steering a Ship in Illiquid Waters: Active Management of Passive Funds. March 09, 2022.
Explore Further about Steering a Ship in Illiquid Waters: Active Management of Passive Funds
Working Paper
Diamond, William, Zhengyang Jiang, and Yiming Ma
. The Reserve Supply Channel of Unconventional Monetary Policy. January 28, 2022.
Explore Further about The Reserve Supply Channel of Unconventional Monetary Policy
Working Paper
Li, Wenhao, Yiming Ma , and Yang Zhao
. The Passthrough of Treasury Supply to Bank Deposits Funding. December 31, 2021.
Explore Further about The Passthrough of Treasury Supply to Bank Deposits Funding
Working Paper
Eisenschmidt, Jens, Yiming Ma , and Anthony Lee Zhang
. Monetary Policy Transmission in Segmented Markets. November 29, 2021.
Explore Further about Monetary Policy Transmission in Segmented Markets
Working Paper
Ma, Yiming, Kairong Xiao , and Yao Zheng
. Bank Debt versus Mutual Fund Equity in Liquidity Provision. February 01, 2021.
Explore Further about Bank Debt versus Mutual Fund Equity in Liquidity Provision
Working Paper
Diamond, William, Zhengyang Jiang, and Yiming Ma
. A Structural Model of Bank Balance Sheet Synergies and the Transmission of Central Bank Policies. August 17, 2020.
Explore Further about A Structural Model of Bank Balance Sheet Synergies and the Transmission of Central Bank Policies
Download PDF on A Structural Model of Bank Balance Sheet Synergies and the Transmission of Central Bank Policies
Working Paper
Deghi, Andrea, Christoffer Kok, and Yiming Ma
. The Effects of Negative Interest Rates on Interbank Markets. January 01, 2018.
Explore Further about The Effects of Negative Interest Rates on Interbank Markets
  • Courses
  • Case Studies
Course
B6301: Foundations of Valuation
View Course on Foundations of Valuation
Course
B6302: Corporate Finance (Half-Term)
View Course on Corporate Finance (Half-Term)
Course
B9334: Big Data In Finance
View Course on Big Data In Finance
Course
B5302: Corporate Finance (Half-Term)
View Course on Corporate Finance (Half-Term)
Course
B9305: (PhD) Finance Pre-Thesis Seminar
View Course on (PhD) Finance Pre-Thesis Seminar
Course
B5301: Foundations of Valuation
View Course on Foundations of Valuation
  • Awards & Honors
  • In the Media
  • Articles
In the Media

Sticker Shock: Are American Consumers Learning to Live With Inflation?

USA Today
In the Media

The Negative Impact of Pix on Credit Supply

Valor International
In the Media

Egg Prices Shot up 15% in January as Retailers Limit Customer Purchases

CBS News
In the Media

Inflation Is Higher in New York and Hawaii Than in Tampa and Denver. Why?

MarketPlace
In the Media

The Dow Is up 200 Points as the Market Rally Continues

Quartz
In the Media

Is the Market Signaling a Recession?

Quartz
In the Media

A New Service from the Fed Will Enable Instant Bank Transfers

Inc.
In the Media

New SEC Proposal Could Hurt Retirement Savers, Industry Leaders Say

Pensions&Investments
In the Media

Should You Invest in CDs While Interest Rates Fall? Experts Weigh In

ABC News
In the Media

Why Jay Powell's Second Fed Term Could Be Even Tougher Than His First

CNN
In the Media

What the Federal Debt Ceiling Means to Your Wallet

CNBC
In the Media

Here Are Your Best Moves While the Fed Keeps Rates Near Zero

CNBC
In the Media

To Understand the Fed's Bond-Buying Dilemma, Picture a Lake

Marketplace Radio
In the Media

The Fed Won't Keep Interest Rates near Zero Forever - Here's What to Do Now

CNBC
In the Media

How to Think Long Term with near-Zero Interest Rates

The Wall Street Journal
In the Media

Fed Keeps Rates Near Zero - It's Good to Borrow at Low Interest Rates, Experts Say. Here's What Else It Means for Your Wallet

CNBC
In the Media

U.S. Mint Asks Americans to Use More Change to Help Ease Coin Shortage

Forbes
In the Media

Is There Really a Coin Shortage?

Forbes
In the Media

The Fed Said It Could Supply the Economy with $2.3 trillion. It Hasn't Come Close So Far

CNBC
Article

New Study Measures Impact of U.S. Treasury Supply Versus Fed’s Monetary Policy on Bank Deposit Funding

Read More about New Study Measures Impact of U.S. Treasury Supply Versus Fed’s Monetary Policy on Bank Deposit Funding
Article

Welcome New Faculty

Read More about Welcome New Faculty
  • CaseWorks
This faculty member has no associated CaseWorks cases currently.

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