Subjects Taught

Finance 2 (FINC 401), Valuation and Investment (FINC 412), Finance Management (FINC 671)




Associate Professor


Dr Muhammad M. Ma’aji is a certified Financial Modelling and Valuation Analyst (FMVA) and an Associate Professor at CamEd Business School Cambodia. Dr Ma’aji hold a PhD and MSc in Finance from the Universiti Utara Malaysia and a BA in Accounting & Finance from the University of Greenwich, UK. Dr Ma’aji has mentored and coached CamEd students to compete at several Local and International competitions and in 2021, the CamEd team won the Local CFA Research Challenge Competition and became Sub-Regional Champions same year. Before joining CamEd Business School, Dr Ma’aji worked as a Research Assistant for the Centre for University-Industry Collaboration (CUIC) Universiti Utara Malaysia, where he fully participated in two national research grants awarded by the Ministry of Higher Education and Ministry of Rural and Regional Development, Malaysia. He has also worked as an Account Assistance for Gidauniya Investment & Securities LTD and Saleh A.D. & Co both in Nigeria. Dr Ma’aji is also a scholar in the field of finance and accounting. He has successfully published research articles in well-known high impact international journals. His areas of research interest include financial distress, bankruptcy prediction, corporate finance, corporate governance, cross-listing, and financial management.


  • Measuring the Performance of an Employee is an Essential Tool within Management Control readmore
  • Ma’aji, M., Abdullah, N., & Lee, K. (2018). Predicting Financial Distress among SMEs in Malaysia, European Scientic Journal, Vol.14, No.7 ISSN: 1857 – 7881.
  • Ma’aji, M., Abdullah, N., & Lee, K. (2018). Financial Distress among SMEs in Malaysia: An Early Warning Signal, International Journal of Business and Society (IJBS), (Accepted, Scopus Index).
  • Ma’aji, M. (2018). What are the challenges in the implementation of ERP systems? CamEd Business School, Working Paper, 2018.
  • Abdullah, N., Ma’aji, M. & Lee, K. (2016). The Value of Governance Variables in Predicting Financial Distress among Small and Medium-Sized Enterprises in Malaysia, Asian Academy of Management Journal of Accounting & Finance, 12 (1), 77–91 (Scopus Index). Ahmad, H., Ma’aji, M., & Jalil, J (2015). Management of Change, Lean Practice and organisational Performance of Private Companies in Malaysia, Advances in Global Business Research, Vol. 12 N0. 1, ISSN 1549-9332.
  • Ahmad, H., Ma’aji, M., & Mahmood, R. (2015). Talent Management, Management of Change and Firm Performance: An Exploratory Study on Government Link Companies (GLCs), European Journal of Business and Social Sciences, Vol. 3, N0. 12, pp. 68-80.
  • Ma’aji, M., Rahima, A., & Hadi, A. (2014). Performance of Asset and Commodity-Based Securities in Malaysia’s Islamic Inter-Bank Money Market, Journal of Islamic Banking and Finance, Vol. 2, No. 2, pp. 1 - 13.
  • Ma’aji, M and Rabiu, S. (2014). Market Reaction to International Cross-listing: Evidence from Nigeria, International Journal of Information Technology and Business Management, Vol 27. N0 1, pp. 13-25.
  • Traditional Absorption versus Activity Based Costing System: Applications among companies in emerging market readmore
  • Working Capital Financing Preference among Small Businesses in a Frontier Market readmore
  • Determinant of business Success or failure among SMEs in Cambodia readmore