Liang Ma

lma2@sdsu.eduorcid.org/0000-0002-7273-5079

Research Relationships

Appointments

Grants Research and Enterprise Writing (GREW) Fellows current

Associate Professor, 2026-Present
Finance, San Diego State University, San Diego, California, US
Assistant Professor, 2023-2026
Finance, San Diego State University, San Diego, California, US
Assistant Professor, 2014-2023
Finance, University of South Carolina, Columbia, South Carolina, US

Profile updated September 5, 2026.

Scholarship

Academic Publications

The Factor Multiverse: The Role of Interest Rates in Factor Return Measurement

Management Science, 2026, journal article

Econometrics Interest rates Investment analysis Portfolio management

What drives closed‐end fund discounts? Evidence from COVID‐19

Financial Management, 2024, journal article

Closed-end funds COVID-19 Pandemic (2020-) Finance Pandemics

What Does the Cross‐Section Tell About Itself? Explaining Equity Risk Premia with Stock Return Moments

Liang Ma; ILAN COOPER; PAULO MAIO

Journal of Money, Credit and Banking, 2022, journal article

Econometrics Economics Finance

Financial Reporting Quality and Noise in Stock Returns: Evidence from Chinese A-B Twin Shares

Liang Ma; Tao Ma; Henry L. Friedman

Journal of Financial Reporting, 2021, journal article

Accounting China Economics Finance

Multifactor Models and Their Consistency with the APT

Liang Ma; Ilan Cooper; Paulo Maio; Dennis Philip

The Review of Asset Pricing Studies, 2021, journal article

Capital assets pricing model Economics Investment analysis Portfolio management

First-mover advantage, time to finance, and cash holdings

Liang Ma; Antonio S. Mello; Youchang Wu

Journal of Corporate Finance, 2020, journal article

Competitive advantage of the inner city (Porter, Michael E.) Financial management

The Causal Effect of Limits to Arbitrage on Asset Pricing Anomalies

Liang Ma; YONGQIANG CHU; DAVID HIRSHLEIFER

The Journal of Finance, 2020, journal article

Arbitrage Stock price forecasting