Mai Datta

Mai Datta


Professor of Finance





Mike Ilitch School of Business
2771 Woodward Avenue
Room 379
Detroit, MI 48201

Academic Programs

  • Entrepreneurship
  • Finance

Mai Datta


Dr. Iskandar-Datta is Professor of Finance and holds the Dean's Research Chair. Her wide-ranging research interests in corporate finance include executive compensation (and clawbacks), mergers and acquisitions, corporate governance, leveraged buyouts, corporate cash holding policies, corporate restructuring, capital structure, initial public offerings of debt securities, to name a few. A highly prolific researcher, she has published in top finance, accounting, and management journals including the Journal of Financial Economics, Journal of Finance, Journal of Business, Journal of Financial and Quantitative Analysis, The Accounting Review, Strategic Management Journal, Journal of Banking and Finance, Journal of Financial Intermediation, and the Harvard Business Review

Professional experience

  • Professor (tenured), Wayne State University, Fall 2004-present
  • Associate Professor (tenured), Suffolk University, Fall 1997-2004
  • Associate Professor, University of Massachusetts-Dartmouth, Fall 1996-1997
  • Associate Professor (tenured), Northern Illinois University, Fall 1994
  • Assistant Professor, Northern Illinois University, Spring 1991-1994
  • Assistant Professor, Bentley College, Fall 1986 - Fall 1990

Ad Hoc Reviewer

  • Financial Management
  • Journal of Banking and Finance
  • Journal of Accounting and Public Policy
  • Journal of Business
  • Journal of Business Research
  • Finance Research Letters
  • Financial Review
  • Journal of Applied Finance
  • Quarterly Journal of Business and Economics
  • Quarterly Review of Economics and Finance
  • Journal of Economics and Business



  • Ph.D., University of Missouri, Columbia
  • MBA, University of Missouri, Columbia
  • B.S., University of Missouri, Columbia
  • Bachelor of Journalism, University of Missouri, Columbia


Corporate governance, executive compensation, mergers and acquistions, clawback provisions, leveraged buyouts, corporate cash holding policy, analysts earnings forecasts, product market power, industry competition, earnings management, internal capital markets (intra-firm), corporate financing decisions, investment banking, initial public offerings, bond covenant structure, pricing of corporate debt, corporate restructuring and bankruptcy

Research and teaching interests


  • Executive Compensation
  • Mergers and acquisitions
  • Corporate governance
  • Leveraged buyouts
  • Corporate cash holdings
  • Analysts' earnings forecast
  • Insider-trading
  • Investment banking
  • Initial public offerings
  • Bond covenant structure
  • Corporate restructuring


  • Corporate finance
  • Capital budgeting
  • Corporate Governance
  • Venture Capital Financing
  • Valuation





  • Received the School of Business Administration's Excellence in Research Award at Wayne State University in 2013.
  • Recipient of the Dean's Research Chair, School of Business Administration, Wayne State University in 2012.
  • Won the Best Paper in Corporate Finance at the Southwestern Finance Association, 2011, for paper entitled "Piercing the Corporate Veil: The Case for Clawback Provisions," with Yonghong Jia and Xinghua Gao.
  • Received the Board of Visitors Award for lifetime research accomplishments from Wayne State University (2008-2011).
  • Ranked in the top 2% of all finance researchers according to a study in the Financial Management (Winter 2002).
  • My record over 20 years, ranks me #76 among the most prolific finance researchers with a record over the last half a century by a study in Advances in Financial Education.
  • Won the Dean's Service Award at Suffolk University in 2003 for significant contribution to the creation of the Global MBA program.
  • Won the school-wide Research Award in September 2002 from the Sawyer School of Management at Suffolk University for outstanding achievements in scholarly research.
  • Won the Outstanding Paper in Corporate Finance Award at the Financial Management Association's Annual Meeting in Toronto, Canada in October 2001.
  • Won the Finance Department Publication Award for 1999 at Sawyer School of Management.
  • "New Evidence on the Valuation Effects of Convertible Bond Calls." (with Sudip Datta) was recognized for excellence in research with the highest quality by ANBAR in 1998.
  • "Who Gains From Corporate Asset Sales?" (with Sudip Datta) competitively won the Outstanding Paper Award from the Journal of Financial Research among all the articles published in that journal during 1996.
  • "Valuation Effects and Signaling Implications of Initial Public Straight Debt Offers," (with Sudip Datta and Ajay Patel) won Outstanding Paper Award in Corporate Finance at the 1995 Southern Finance Association Meetings.
  • The article "Insider-Trading Reports Are Linked to Price of Bonds" by Warren Getler, in The Wall Street Journal, February 8, 1995 (page C1), draws attention to my study "Does Insider Trading Have Information Content in the Bond Market? (with Sudip Datta) which has significant policy implications regarding a loophole in insider trading laws.
  • "An Investigation of the Returns on Initial Public Offerings of Bonds" (with Sudip Datta and Ajay Patel) nominated for the Best Paper Award for the Southern Finance Association meetings held in Nov 1994.

Courses taught by Mai Datta

Fall Term 2024 (future)

Winter Term 2024 (current)

Fall Term 2023

Winter Term 2023

Fall Term 2022

Winter Term 2022