Mahsa Memarian | INCAE


Mahsa Memarian is Professor of Finance at INCAE Business School. She received her Ph.D. in Financial Management from IESE Business School, University of Navarra, Spain. Her research interest lies at the intersection of Urban Economics / Real Estate, Asset Pricing and Corporate Finance.

In particular, she analyzes the effect of the urban characteristics of cities and their management system on the performance of companies and their financial results. She has a Master of Management Research from IESE Business School, a Master of Science in Socioeconomic Systems Engineering specializing in Economics and Finance from Sharif University of Technology, Iran, and a Bachelor of Science in Mechanical Engineering from the University of Tehran, Iran. .

Mahsa is one of the reviewers for the Journal of Business Research (JOBR), and is also a member of the Editorial Board of INCAE Business Review, the American Finance Association's Academic Committee on Women's Finance (AFFECT), the Committee of Women Economists of Latin America and the Caribbean (WELAC), and Urban Economy Network of Latin America and the Caribbean Economic Association (LACEA).

Before pursuing an academic career, she worked as a mechanical engineer and market research specialist in different industrial sectors where she was involved in various projects in production and corporate finance. Mahsa has Persian and Spanish citizenship and International Mission Statute from the Ministry of Foreign Affairs of Costa Rica.


Data message

Assistant Professor
Country of origin:
Country of Residence:
Costa Rica


  • Ph.D. in Financial Management. IESE Business School, University of Navarra, Barcelona, ​​Spain (2015-2018)
  • Short Focused Program, International Real Estate. IESE Business School, University of Navarra, Barcelona, ​​Spain (2015)
  • Master in Research in Management (MIG), Financial Management. IESE, Business School, University of Navarra, Barcelona, ​​Spain (2013-2015)
  • Master of Science, Socioeconomic Systems Engineering, Economics and Finance. Sharif University of Technology, Tehran, Iran (2009-2011)
  • Bachelor of Science, Mechanical Engineering. University of Tehran, Tehran, Iran (2004-2008)

Teaching areas

  • Executive MBA
  • ExEd INCAE
  • Financials


  • Finance Mathematics
  • Finance I
  • Finance II
  • Corporate Finance
  • Management Consulting Project
  • Advanced Finance