Biography
Expertise summary
Determination of optimal investment strategy (portfolio composition) for defined-contribution pension fund by dynamic programming; numerical solution of optimal investment strategy; issues in pension plan designs; retirement decision; consumption/saving decision and optimal pension contribution rate; R&D strategy and organization in pharmaceutical industry.
Teaching
Undergraduate
Economics of Innovation (UNNC)
Postgraduate
Mathematical Finance (Birkbeck, University of London)
Financial Market (Birkbeck, University of London)
Research
Principal research interests
Pension economics/finance, investment strategy/optimal portfolio management, consumption and saving behaviour, risk control and management, R&D strategy/organization in industries.
Recent publications
Q. P. Ma (2008) Optimal pension asset allocation strategy for defined-contribution plans with exponential utility. Pensions Institute working paper PI-0811, www.pensions-institute.org/workingpapers/wp0811.pdf|
Q. P. Ma (2008) Optimal asset allocation strategy for defined-contribution pension plans with power utility. Pensions Institute working paper PI-0815, www.pensions-institute.org/workingpapers/wp0815.pdf|
Q. P. Ma (2008) Inter-temporal optimization and lifestyle strategy in managing defined-contribution pension plans. Pensions Institute working paper PI-0818, www.pensions-institute.org/workingpapers/wp0818.pdf|
Q. P. Ma (2008) Sub-optimality of threshold and constant proportion portfolio insurance strategies in defined contribution pension plans. Pensions Institute working paper PI-0819, www.pensions-institute.org/workingpapers/wp0819.pdf
Q. P. Ma (2008) Optimal pension asset allocation strategy when terminal utility is a function of replacement ratio. Pensions Institute working paper PI-0820, www.pensions-institute.org/workingpapers/wp0820.pdf
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