Dr Arman Eshraghi


Picture of Arman Eshraghi

Senior Lecturer in Finance and Accounting and Director, MSc Finance & Investment

Email: QXJtYW4uRXNocmFnaGlAZWQuYWMudWs=
Phone: +44(0)131 6504311
Room: 2.30


Roles and responsibilities

  • Representative to the University Senate
  • Director of MSc Finance and Investment
  • Member of the Centre for Accounting and Society
  • Member of the Business School Rankings Committee


Arman is a Senior Lecturer (Associate Professor) in Finance and Accounting and Director of MSc Finance and Investment at the University of Edinburgh. His educational background includes BSc (Electrical Engineering) and MBA with distinction from Sharif University of Technology, and PhD in Finance as well as a PGCert in Academic Practice from the University of Edinburgh. He is a Fellow of the UK Higher Education Academy, and has previously held visiting positions at Manchester Business School and University College London. Prior to his academic career, Arman was a management consultant for several years in the banking, automotive and telecom sectors.

His primary research interests lie in the area of behavioural and interdisciplinary finance examining such topics as fund management and investment performance from a behavioural perspective. Arman's interests also include banking, corporate governance, and financial applications of big data and disruptive technologies. His research is published in journals including the Review of Finance; Corporate Governance: An International Review; Accounting and Business Research; and Accounting, Auditing and Accountability Journal, and featured in the Financial Times, the Washington Post, and the Globe and Mail among others.

Arman has given invited talks at various universities including Texas at Austin, Maastricht, Aarhus, Laval, Stirling, and professional bodies including the Federal Reserve Bank of New York, the Centre for European Economic Research in Mannheim, and the Chartered Financial Analyst (CFA) Institute in London. His research has been recognised by the European Foundation for Management Development (EFMD) Outstanding Doctoral Research Award, the Emerald Award for Excellence, the BSI Young Scholar Award for Research in Financial Discourse, and several other Best Paper commendations. He is on the editorial board of the Journal of Corporate Ownership and Control and the Journal of Qualitative Research in Financial Markets, and reviews for several journals including the European Journal of Finance and the Journal of Banking and Finance.

Being highly passionate about teaching, Arman has been nominated 12 times in the University of Edinburgh Annual Teaching Awards and the Business School Best Course Awards. The modules he commonly lectures on include Behavioural Finance, Psychology of Investing, Equity Valuation and Investment Management at MSc, MBA and EMBA levels. He recently won School-wide prizes for Best Overall Satisfaction and Best Inspirational Teaching in relation to his MBA module, Psychology of Investing. 

Arman is also active in the area of executive education and consultancy, and has taught a range of courses in Edinburgh, Manchester, London, Tehran and Mumbai. He has designed an intensive Executive Masterclass on Advances in Behavioural Finance which has been delivered in the UK and overseas to a range of clients including British, Indian and Chinese firms.

Research interests

  • Behavioural Finance
  • Corporate Governance
  • Fund Management
  • Banking
  • Financial Applications of Big Data
  • Computational Linguistics in Finance

Group membership

PhD Supervision

Arman is supervising 3 PhD students


Value Effects of Bank Executives

Nguyen, D., Hagendorff and Eshraghi. (2016).
Chapter in Book/Report/Conference proceeding: Chapter (peer-reviewed)

Can bank boards prevent misconduct?

Nguyen, Hagendorff and Eshraghi. (2015) Review of Finance.
Contribution to journal: Article

Which Executive Characteristics Create Value in Banking? Evidence from Appointment Announcements

Nguyen, Hagendorff and Eshraghi. (2015) Corporate Governance: an International Review 23 (2). 112-128.
Contribution to journal: Article
View / download (open access)

Heroes and victims: Fund manager sense-making, self-legitimation and storytelling

Eshraghi and Taffler. (2015) Accounting and Business Research.
Contribution to journal: Article

Fund Manager Overconfidence and Investment Narratives

Eshraghi. (2014). 1-20.
Chapter in Book/Report/Conference proceeding: Chapter (peer-reviewed)
View / download (open access)

Institutional Investors, Beneficiaries and Emotional Finance

Eshraghi and Taffler. (2013).
Chapter in Book/Report/Conference proceeding: Chapter (peer-reviewed)

Hedge Funds and Unconscious Fantasy

Eshraghi and Taffler. (2012) Accounting, Auditing & Accountability Journal 25 (8). 1244-1265.
Contribution to journal: Article
View / download (open access)