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Ajay Subramanian Edit Profile

Mathematician , professor

Ajay R. Subramanian is the Bruce A. Palmer Professor of Risk Management and Insurance in the Robinson College of Business at Georgia State University. His research interests broadly lie in the areas of financial economics, microeconomic theory, industrial organization, mathematical finance and applied probability.


As a high school student, He was the first member of the first ever Indian team for the International Mathematical Olympiad and won a bronze medal.


After obtaining his PhD, he spent almost 4 years as a quantitative research associate at Susquehanna International Group in Bala Cynwyd, PA. His time as a "quant" aroused his interest in financial economics. In August 2001, he returned to academia as an assistant professor of finance at the Georgia Institute of Technology and then decided to move to Georgia State University in August 2004 where he has been ever since.


  • He teaches courses on Stochastic Interest Rate and Credit Risk Models and Implementing Quantitative Financial Risk Models in Master's program in Mathematical Risk Management and a Doctor of Philosophy course on Game Theory and Mechanism Design in Doctor of Philosophy program He is currently the Director of the Department's Doctor of Philosophy program In the past, He has taught undergraduate and graduate courses on Derivative Securities, a Master's course on Financial Risk Management and a Doctor of Philosophy course on Dynamic Asset Pricing Theory.


  • article

    • Project Characteristics, Organizational Structure, and Managerial Incentives

    • Dynamic Contracting under Imperfect Public Information and Asymmetric Beliefs. Revise and Resubmit

    • Agency Conflicts, Debt Covenants, and Accounting Measurement

  • paper

    • Capital Structure Under Heterogeneous Beliefs

    • Dynamic Prudential Regulation

    • Chief Executive Officer Talent, Chief Executive Officer Compensation and Product Market Competition

    • Optimal Dynamic Risk-Taking

    • Catastrophe Risk Transfer

    • Power, Compensation and Corruption

    • Product Variety and Asset Pricing


  • Journal of Financial Risk Management

    July, 2012

  • Western Finance Association


  • Financial Intermediation Research Society

    2009 - 2011


  • Sport & Clubs

    soccer, cricket and basketball

  • Other Interests

    sports, music and travel

  • Music & Bands

    old Hindi film songs, classic and hard rock, as well as Western and Indian classical music