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Federal Reserve Bank of Richmond

Financial Economists

Mehdi Beyhaghi

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Mehdi Beyhaghi

Mehdi Beyhaghi (read Bay-Hagi) is a financial economist in the Supervision, Regulation and Credit department. Prior to joining the Federal Reserve Bank of Richmond in 2018, he worked, conducted research, and taught in a diverse set of areas related to banking and finance for over seven years.

At the Federal Reserve, his responsibilities include financial institution quantitative surveillance, supervisory model development and validation with the focus on wholesale credit risk, and the assessment of Federal Reserve’s credit and liquidity programs.

In addition to his supervisory responsibilities, Mehdi is active in a number of research areas including macro finance, financial intermediation, and corporate finance. He has received awards for his research from the Financial Management Association (best paper award in Risk Management) and the Society of Financial Studies (RAPS rising scholar award).

  • Publications

    Beyhaghi, M., Firoozi, F., Jalilvand, A., and Samarbaksh, L. (2020), “Components of Credit Rationing,” Journal of Financial Stability, forthcoming.

    Beyhaghi, M., Nguyen, C., & Wald, J. K. (2019). Institutional investors and loan dynamics: Evidence from loan renegotiations. Journal of Corporate Finance, 56: 482–505.

    Beyhaghi, M., and Ehsani, S. (2017), “The Cross-Section of Expected Returns in the Secondary Loan Market,” Review of Asset Pricing Studies, 2017, 7: 243–277.

    Beyhaghi, M., Panyagometh, K., Gottesman, A. and Roberts, G. (2017), “Do Tighter Loan Covenants Signal Improved Future Corporate Results? The Case of Performance Pricing Covenants,” Financial Management, 46: 593–625.

    Beyhaghi, M., Massoud, N., and Saunders, A. (2017), “Why and How Do Banks Lay Off Credit Risk? The Choice between Retention, Loan Sales and Credit Default Swaps,” Journal of Corporate Finance, 42: 335–355. (Invited by the editor)

    Oliveira, M., Kadapakkam, P. R. and Beyhaghi, M. (2017), “Effects of Customer Financial Distress on Supplier Capital Structure,” Journal of Corporate Finance, 42: 131–149.

    Beyhaghi, M., D’Souza, C., and Roberts, G. (2014), “Funding Advantage and Market Discipline in the Canadian Banking Sector,” Journal of Banking & Finance, 48: 396–410.

    Beyhaghi, M., and Hawley, J. (2013), “Modern Portfolio Theory and Risk Management: Assumptions and Unintended Consequences,” Journal of Sustainable Finance & Investment 3: 17–37.

  • Working Papers

    “Third-Party Credit Guarantees and the Cost of Debt: Evidence from Corporate Loans” (sole authored).

    “Lender Laws and International Lending,” with Rui Dai, Anthony Saunders, and John Wald.

    “Impact of Lending Contract Heterogeneity on Borrower Groups,” with Fathali Firoozi.

    “Technology Disclosure and Capital market Uncertainty: The Role of Patents,” with Ali Mohammadi and Pooyan Khashabi.

phone Contact Us

Mehdi Beyhaghi (704) 358-2155