About

Teng Ma is a faculty member in the Department of Molecular Pharmaceutics at the College of Pharmacy. His research focuses on the field of molecular pharmaceutics, contributing to the understanding and development of pharmaceutical sciences. As a professor, he is involved in advancing knowledge within his department and supporting the college's mission in education and research.

Research topics

• Econometrics
• Economics
• Mathematics
• Business
• Financial economics

Selected publications

• A Note on “Risk Reduction in Large Portfolios: Why Imposing the Wrong Constraints Helps”

  The Journal of Finance · 2019-07-02 · 1 citations

  article

  ABSTRACT This note corrects an error in the proof of Proposition 2 of “Risk Reduction in Large Portfolios: Why Imposing the Wrong Constraint Helps” that appeared in the Journal of Finance , August 2003.

  PublisherDOI

• Short sales and the weekend effect—Evidence from a natural experiment

  Journal of Financial Markets · 2015-07-04 · 12 citations

  articleSenior authorCorresponding
  PublisherDOI

• Does the value of cash holdings deteriorate or improve with material weaknesses in internal control over financial reporting?

  Journal of Banking & Finance · 2015-01-16 · 35 citations

  article
  PublisherDOI

• Bid-Ask Spread, Quoted Depths, and Unexpected Duration Between Trades

  Journal of Financial Services Research · 2015-11-23 · 1 citations

  articleSenior author
  PublisherDOI

• Bid-Ask Spreads, Quoted Depths, and Unexpected Duration between Trades

  SSRN Electronic Journal · 2013-01-01 · 1 citations

  articleOpen accessSenior author
  PublisherDOI

• Bid-Ask Spreads, Quoted Depths, and Unexpected Duration between Trades

  SSRN Electronic Journal · 2013-01-01

  articleOpen accessSenior author
  PublisherDOI

• Internal Control Over Financial Reporting And the Value of Corporate Liquidity

  SSRN Electronic Journal · 2012-01-01

  articleOpen access
  PublisherDOI

• EX‐DIVIDEND DAY PRICE BEHAVIOR OF EXCHANGE‐TRADED FUNDS

  The Journal of Financial Research · 2012-03-01 · 5 citations

  articleSenior author

  Abstract We document that for exchange‐traded funds (ETFs), the price falls on average by the dividend amounts on the ex‐dividend day, and there are significantly positive abnormal volumes. This is because trading in ETFs entails lower transaction costs and lower risk than trading in equity closed‐end funds (CEFs) and individual stocks. Similar results are also found for equity CEFs. However, regression analyses indicate that transaction costs and risk are indeed negligible for ETFs but not for equity CEFs and that risk remains important for a sample of stocks matched based on transaction costs. Overall, the results support the short‐term traders hypothesis.

  PublisherDOI

• Are Short Sellers Informed? Evidence from the 2007–2008 Subprime Mortgage Crisis

  Financial Review · 2012-01-04 · 15 citations

  article

  Abstract This paper examines the short selling activities around financial firms’ announcements of asset write‐downs during the 2007–2008 subprime mortgage crisis. We find that short sellers accumulate short positions prior to write‐down announcements, and that stocks experience significantly negative returns around such announcements. These results suggest that the return predictability of short interests is due to short sellers’ informational advantage. Furthermore, we show that short sellers increase their positions significantly in the announcement month and keep increasing their positions afterward, suggesting the feedback effect of the disclosed write‐downs on financial firms’ existing exposures. The valuable information contained in the short interest should encourage regulators to mandate stock exchanges disclose short selling activities more frequently.

  PublisherDOI

• Short Sales and the Weekend Effect - Evidence from a Natural Experiment

  SSRN Electronic Journal · 2011-12-28 · 3 citations

  articleOpen accessSenior author
  PublisherDOI

Frequent coauthors

• Ravi Jagannathan

  129 shared

• Gopal K. Basak

  Indian Statistical Institute

  13 shared

• Pengjie Gao

  11 shared

• Keith Jakob

  9 shared

• Ivalina Kalcheva

  5 shared

• Tony Ruan

  3 shared

• Yan Zhang

  Shenzhen Stock Exchange

  3 shared

• Hao Jia

  Xi'an University of Technology

  3 shared

Labs

• Mei LabPI