Mahyar Kargar

Mahyar Kargar

Assistant Professor of Finance

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Contact

435 Wohlers Hall

1206 S Sixth St

Champaign, IL 61820

217-300-7640

kargar@illinois.edu

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Listings

Educational Background

  • PhD, Finance, University of California at Los Angeles, 2019
  • MBA, Honors, Finance, University of California at Los Angeles, 2013
  • PhD, Electrical and Computer Engineering, University of California at Irvine, 2009
  • M.S., Honors, Electrical Engineering, University of Southern California, 2003
  • Bachelor of Science, Electrical Engineering, Sharif University of Technology, 2001

Positions Held

  • Instructor of Finance, University of Illinois at Urbana-Champaign, 2019-2019
  • Assistant Professor of Finance, University of Illinois at Urbana-Champaign, 2019 to present
  • Research Assistant, National Bureau of Economic Research, 2015-2016
  • Summer Intern, Research Affiliates, 2013
  • Principal Scientist, Broadcom Limited, 2009-2013

Recent Publications

  • Kargar, M., Lester, B., Weill, P., & Cohen, A. (2024). Inventory, Market Making, and Liquidity in OTC Markets. Journal of Economic Theory, Elsevier.  link >
  • Kargar, M., & Mann, W. (2023). The incidence of student loan subsidies: Evidence from the PLUS program. Review of Financial Studies, 36 (4), 1621–1666.

Other Publications

Articles

  • Kargar, M., Lester, B., Lindsay, D., Liu, S., Weill, P., & Zuniga, D. (2021). Corporate Bond Liquidity During the COVID-19 Crisis. Review of Financial Studies, 34 (11), 5352-5401.
  • Kargar, M. (2021). Heterogeneous Intermediary Asset Pricing. Journal of Financial Economics, Elsevier.  link >

Presentations

  • Kargar, M. (2023). Sequential Search for Corporate Bonds. NBER Asset Pricing Meeting, Spring 2023, NBER.
  • Kargar, M. (2023). Liquidity and Risk in OTC Markets: A Theory of Asset Pricing and Portfolio Flows. Caltech’s division of Humanities and Social Sciences, Caltech’s division of Humanities and Social Sciences.
  • Kargar, M. (2023). Sequential Search for Corporate Bonds. NBER Big Data and Securities Markets, Spring 2023, NBER.
  • Kargar, M. (2022). Liquidity and Risk in OTC Markets: A Theory of Asset Pricing and Portfolio Flows. Arizona State University Carey School of Business, Arizona State University Carey School of Business.
  • Kargar, M., & Silva, D. (2021). A Competitive Search Theory of Asset Pricing. SFS Cavalcade North America.
  • Kargar, M., Schwert, M., Aiello, D., Bernstein, A., & Lewis, R. (2021). The Economic Burden of Pension Shortfalls: Evidence from House Prices. SFS Cavalcade North America.
  • Kargar, M. (2021). Corporate Bond Liquidity During the COVID-19 Crisis. Midwest Finance Association.
  • Kargar, M. (2020). Corporate Bond Liquidity During the COVID-19 Crisis. Conference on the Financial Consequences of the COVID-19 Pandemic, Journal of Finance and Fama-Miller Center at the University of Chicago.
  • Kargar, M., Lester, B., Lindsay, D., Liu, S., Zuniga, D., & Weill, P. (2020). Corporate Bond LIquidity During the COVID-19 Crisis. Conference on financial stability and the coronavirus pandemic, Federal Reserve Bank of Atlanta and Georgia State University.
  • Kargar, M. (2020). Corporate Bond Liquidity During the COVID-19 Crisis. Workshop on Liquidity in Fixed Income Markets, Search and Matching in Macro and Finance (SaMMF.
  • Kargar, M. (2020). Inventory, Market Making, and Liquidity: Theory and Application to the Corporate Bond Market. Conference on The Impact of Post-Crisis Regulation on Financial Markets, Federal Reserve Bank of Philadelphia.
  • Kargar, M. (2020). Heterogeneous Intermediary Asset Pricing. American Finance Association Annual Meeting, AFA.
  • Kargar, M. (2019). Who Pays for Underfunded Pensions? Evidence From Homeowners. Financial Research Association.

Working Papers

  • Kargar, M., Silva, D., & Duarte, V. Dissecting the Aggregate Market Elasticity.
  • Kargar, M., & Duarte, V. Why is Asset Demand Inelastic.
  • Kargar, M. Sequential Search for Corporate Bonds.
  • Aiello, D., Bernstein, A., Kargar, M., Lewis, R., & Schwert, M. The Marginal Value of Public Pension Wealth: Evidence From Border House Prices.
  • Kargar, M., Wu, Y., & Choi, J. Investor Demand, Firm Investment, and Capital Misallocation.
  • Kargar, M., Passadore, J., & Silva, D. Liquidity and Risk in OTC Markets: A Theory of Asset Pricing and Portfolio Flows.
  • Kargar, M., & Dunn, B. Funding Liquidity and the Valuation of Mortgage-Backed Securities.

Honors and Awards

  • Excellence in teaching award, Center for Innovation in Teaching & Learning, 2022-2022

Grants

  • Adolph C. Zarbock Research Grants for research in Finance, Department of Finance, University of Illinois, 2023-2023
  • Gies Grants Research proposal on the “Importance of pre-trade transparency in the corporate bond market", Gies College of Business, 2023 to present
  • The Adolph C. Zarbock Research Grant for the study of financial markets, Department of Finance, University of Illinois, 2019-2020
  • 8th Macro Finance Society Workshop Student Travel Grant, 2016
  • American Finance Association (AFA) Doctoral Student Travel Grant, 2014

Service

  • Program Committee Member, European Finance Association, 2021-2021
  • Session Chair, Midwest Finance Association, 2021-2021
  • Program Committee Member, SFS Cavalcade North America Conference, 2020-2021
  • Session Chair, SFS Cavalcade North America, 2020-2020

Research Interests

Asset Pricing, Macro Finance, Financial Intermediation

Current Courses

  • Fixed Income Portfolios (FIN 415) Conceptual foundations and implementation of strategies for the selection, evaluation, and revision of portfolios of fixed-income financial assets (bonds).

  • Financial Derivatives (FIN 512) Introduction to options, futures, swaps and other derivative securities; examination of institutional aspects of the markets; theories of pricing; discussion of simple as well as complicated trading strategies (arbitrage, hedging, and spread); applications for asset and risk management.

  • Fixed Income Portfolios (FIN 515) Conceptual foundations and implementation of strategies for the selection, evaluation, and revision of portfolios of fixed-income financial assets (bonds); examination of related research.

  • Individual Study and Research (FIN 590) Directed reading and research.

Contact

435 Wohlers Hall

1206 S Sixth St

Champaign, IL 61820

217-300-7640

kargar@illinois.edu

Google Scholar

Website

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