Financial Economists
Ping McLemore
Ping McLemore is Senior Financial Economist on our Quantitative Supervision and Research team in the Supervision, Regulation and Credit department at the Richmond Fed. Her supervisory work focuses on stress testing, CCAR, and quantitative surveillance of financial institutions. She also conducts research on operational risks, de novo banks, monetary policy shocks, mutual funds, and behavioral finance.
McLemore earned a master’s degree in human resource management from Newcastle University (UK) and doctoral degree in finance from the University of Arizona.
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Publications
“Do Mutual Funds Have Decreasing Returns to Scale? Evidence from Fund Mergers,” 2019, Journal of Financial and Quantitative Analysis, 54, pp. 1683-1711.
“Active Technological Proximity and Mutual Fund Performance” (with Richard Sias, Chi Wan, and Zafer Yuksel), 2022, Journal of Financial and Quantitative Analysis, 57, pp.1862-1884.
“Global Banks and Systemic Risk: The Dark Side of Country Financial Connectedness” (with Atanas Mihov and Leandro Sanz), 2022, Journal of International Money and Finance, 129, p. 102734.
“Intermediaries’ Incentives across Share Classes in the Same Funds” (with Ivalina Kalcheva), 2023, Financial Analysts Journal, 79, pp. 41-63.
“Operational Loss Recoveries and the Macroeconomic Environment: Evidence from the U.S. Banking Sector” (with Scott Frame, Nika Lazaryan, and Atanas Mihov), 2024, Journal of Banking & Finance, 165, p. 107220.
“Haste Makes Waste: Banking Organization Growth and Operational Risk” (with Scott Frame and Atanas Mihov), 2025, Review of Corporate Finance Studies, accepted.
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Working Papers
“Artificial Intelligence and Operational Losses: Evidence from U.S. Banking Holding Companies” (with Atanas Mihov)
“Risk Externalities of Financial Innovation: Evidence from Operational Losses at Large U.S. Bank Holding Companies” (with Scott Frame and Atanas Mihov)
“Supervision and De Novo Banks Charter Choice” (with Ethan Butler and Jeffrey Gerlach)