Marti G. Subrahmanyam profile photo

Marti G. Subrahmanyam

  • Charles E. Merrill Professor of Finance, Economics and International Business

Joined Stern 1974

ms3@stern.nyu.edu

Leonard N. Stern School of Business

Kaufman Management Center

44 West Fourth Street, 968

New York, NY 10012

Personal Website

About Marti G. Subrahmanyam

Education and Teaching
Marti G. Subrahmanyam is the Charles E. Merrill Professor of Finance, Economics and International Business in the Stern School of Business at New York University, and Global Network Professor of Finance at NYU Shanghai. He holds a degree in mechanical engineering from the Indian Institute of Technology, Madras, and a post-graduate diploma in business administration from the Indian Institute of Management, Ahmedabad. Both institutions conferred on him their Distinguished Alumnus Award. He earned a doctorate in finance and economics from the Massachusetts Institute of Technology.

Professor Subrahmanyam has been a visiting professor at leading academic institutions in Australia, England, France, Germany, India, Italy and Singapore, including the Goethe University of Frankfurt, Einaudi Institute of Economics and Finance and Università Guido Carli LUISS, in Rome, ESSEC and INSEAD, near Paris, the Indian Institute of Technology, Madras, and the Indian Institute of Management, Ahmedabad, Leibnitz Institute SAFE at the Goethe University of Frankfurt, London Business School, University of Konstanz, Germany, National University of Singapore, Singapore Management University, Churchill College, Cambridge University, the Paris School of Economics, the University of Melbourne, and the Universita Ca’ Foscari, Venice. He has taught extensively on executive programs in over twenty countries around the world.

Research and Editorial
Professor Subrahmanyam currently serves or has served on the editorial boards of the European Financial Management, Journal of Banking and Finance, Journal of Business Finance and Accounting, Journal of Finance, Management Science, Journal of Derivatives, Journal of International Finance and Accounting, and Japan and the World Economy. He was the Founding Editor of an academic journal specializing in derivative securities and markets entitled Review of Derivatives Research. His research interests include valuation of corporate securities, asset pricing particularly in the context of derivatives markets, market microstructure, and fixed income markets. Professor Subrahmanyam has published over a hundred and twenty five articles and several books in the areas of corporate finance, capital markets and international finance. His publications include papers in leading international journals in economics and finance, including Econometrica, The Quarterly Journal of Economics, Journal of Economic Theory, Journal of Finance, Journal of Financial Economics, and The Review of Financial Studies. His books include Financial Options: From Theory to Practice and Credit Default Swaps.

Teaching, Mentoring and Significant Awards
Professor Subrahmanyam teaches at the undergraduate, Master’s, and doctoral levels as well as in executive programs. He has served on over eighty five doctoral dissertation committees and has chaired over thirty five of them. His students serve on the faculties of leading business schools around the world. He founded the NYU Stern Undergraduate Honors Program in 2000 and the NYU Shanghai Business Honors Program in 2015. Professor Subrahmanyam has won several teaching awards including New York University’s Distinguished Teaching Medal. In 2016, he was awarded the Anneliese Maier Award of the Alexander von Humboldt Foundation for his research, the first economist to be so honored.

Consulting and Board Appointments
Professor Subrahmanyam has served as a consultant to several corporations, industrial groups, and financial institutions in the U.S., Europe, Asia and Latin America. These include many of the largest global financial institutions. He has served as an advisor to international and government organizations, and serves as an adviser to several startup companies in India and the United States.

He has served or continues to serve on the boards of several companies, including AION India Investment Advisers (P) Ltd., Clayfin Technologies Ltd., ICICI Bank Ltd. (NYSE: IBN), ICICI Prudential Life Insurance Co. Ltd. (NSE:ICICIPRULI), ICICI Venture Funds Management Company Limited, Infosys Ltd. (NYSE: INFY), Nomura Asset Management Inc., LIC Nomura Mutual Fund Asset Management Co. Ltd., Premier European Capital Ltd., and Vayana Enterprises (P) Ltd. Several of these are affiliates of well-known global financial institutions including Deutsche Bank A.G., J.P. Morgan & Co. Inc., Nomura Holdings Ltd., and Apollo Global Management Inc.

More recently, Professor Subrahmanyam has shifted his attention to non-profit organizations and now serves on several boards, including the United Nations Foundation, the Indian School of Business, the Snow Leopard Trust, and the IIT Madras Foundation.

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  • Finance
  • Economics
  • Volatility and Risk Institute
  • Glucksman Institute for Research in Securities Markets
  • Valuation of corporate securities
  • Derivatives markets
  • Treasury, municipal, and corporate debt markets
  • Quantitative easing, the repo and Treasury markets
  • Market microstructure and liquidity
  • Climate corporate finance
  • Private equity and ESG investing
  • Finance
    • Corporate Finance
    • Credit Risk/Default Risk
    • Credit/Debt Markets
    • Derivatives
    • Fixed Income
    • International Finance
  • Industry
    • Information Technology
    • Investment Banking
  • Region/Country
    • India
  • Advanced Futures and Options (MBA)
  • Derivatives (Undergraduate)
  • Honors Seminar (Undergraduate)
  • PhD Seminar on Derivatives
  • Ph.D., Finance and Economics, 1974

    Massachusetts Institute of Technology

  • P.G. Diploma, Business Administration, 1969

    Indian Institute of Management, Ahmedabad

  • B.Tech., Mechanical Engineering, 1967

    Indian Institute of Technology, Madras

  • Distinguished Alumnus Award, India Institute of Management, Ahmedabad (2011)

  • Distinguished Alumnus Award, Indian Institute of Technology, Madras (2004)

  • Distinguished Teaching Medal, New York University (2003)

  • S.L. Daetz, D.Y. Tang and S.Q Wang (2023)

    Can Central Banks Boost Corporate Investment? Evidence from the ECB Liquidity Injections

    Review of Corporate Finance Studies, May 2023

  • L. Pelizzon, M. Riedel, and Z. Simon (2023)

    Collateral Eligibility of Corporate Debt in the Eurosystem

    Journal of Financial Economics, forthcoming, 2023

  • M. Bellia, L. Pelizzon, and D. Yuferova (2023)

    Market Liquidity and Competition among Designated Market Makers

    Management Science, forthcoming, 2023

  • M. Arnold and M. Pelster (2022)

    Attention Triggers and Investors’ Risk-Taking

    Journal of Financial Economics, February 2022

  • S.M. Bartram, J.Conrad and J. Lee (2022)

    Credit Default Swaps around the World: Investment and Financing Effects

    Review of Financial Studies, May 2022

  • P. Augustin, V. Sokolovski, and D. Tomio (2022)

    How Sovereign is Sovereign Credit Risk? Global Prices, Local Quantities

    Journal of Monetary Economics, October 2022.

  • P. Augustin, V. Sokolovski, and D. Tomio (2022)

    In Sickness and in Debt: The COVID-19 Impact on Sovereign Credit Risk

    Journal of Financial Economics, March 2022

  • E. Carletti, T. Oliviero, M. Pagano, and L. Pelizzon (2020)

    The COVID-19 Shock and Equity Shortfall: Firm-level Evidence from Italy

    Review of Corporate Finance Studies, November 2020

  • P. Augustin and M. Brenner (2019)

    Informed Options Trading Prior to Takeover Announcements: Insider Trading?

    Management Science, May 2019