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Yiming Ma

Regina Pitaro Associate Professor of Business 


Finance Division

Columbia Business School 

Curriculum Vitae




Address: 665 West 130th Street

               New York, NY 10027


I am an Associate Professor in the Finance Division at Columbia Business School. I am interested in understanding 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. I study the implications of this trend on asset prices, financial stability, and monetary policy transmission. My work applies a combination of theoretical and empirical methods. In particular, I use structural estimation to consider how the competition and trading between financial institutions affect aggregate outcomes.  

My findings have been published in leading academic journals, mentioned in the popular press, and cited by the International Monetary Fund, the Securities and Exchange Commission, the Federal Reserve, and the Financial Stability Board. I am a member of the Finance Theory Group and an external consultant for the European Central Bank and the Federal Reserve Bank of New York. 


I received a Ph.D. in Finance from Stanford Graduate School of Business in 2018 and a B.A. in Economics & Mathematics and Global Affairs from Yale University in 2013.

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