Agency Contracts, Noncommitment Timing Strategies, and Real Options (co-authored with Hiroshi Osano), Japanese Economic Review, Vol. 68, No. 4, pp. 521-554, 2017.

Investment Timing Decisions of Managers under Endogenous Contracts (co-authored with Hiroshi Osano), Journal of Corporate Finance, Vol. 29, pp.607-627, 2014.

Managerial Incentives and the Role of Advisors in the Continuous-Time Agency Model (co-authored with Hiroshi Osano), Review of Financial Studies, Vol.26, No.10, pp.2620-2647, 2013.

Optimal Timing of Management Turnover under Agency Problems (co-authored with Hiroshi Osano), Journal of Economic Dynamics and Control, Vol.33, No.12, pp.1962-1980 , 2009.

Competition Schemes and Investment in Network Infrastructure under Uncertainty (co-authored with Keizo Mizuno), Journal of Regulatory Economics, Vol.35, No.2, pp.179-200, 2009.

Access Pricing and Investment with Stochastically Growing Demand (co-authored with Keizo Mizuno), International Journal of Industrial Organization, Vol. 24, No.4, pp.795-808, 2006.

What Caused Fixed Investment to Stagnate during the 1990s in Japan?: Evidence from Panel Data of Listed Companies(co-authored with Makoto Saito and Koichi Ando), Japanese Economic Review, Vol. 57, No.2, 283-306, 2006.

Reply: What Caused Fixed Investment to Stagnate during the 1990s in Japan?: Evidence from Panel Data of Listed Companies(co-authored with Makoto Saito and Koichi Ando), Japanese Economic Review, Vol. 57, No.2, 310-311, 2006.

An Empirical Investigation of Cost Efficiency in Japanese Banking: A Non-parametric Approach, Review of Monetary and Financial Studies, Vol. 21, 45-67, 2004.

Japanese Stock Returns and Investment: A Test of Production-based Asset Pricing Model, Japan and the World Economy, Vol.9, No.1, 37-56, 1997.

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Publications (in Japanese)

Market Liquidity of Japanese Stock Market - Empirical Analysis from 2000 - (co-authored with Yang Chen), Shoken Keizai Kenkyu, Vol. 111, 77-91, 2020.

Investment under Uncertainty, Systems, Control and Information, Vol.44, No.8, 455-461, 2000.

Empirical Studies on Asset Pricing: A Survey (in Japanese), Gendai Finance, Vol.6, 47-97, 1999.

Empirical Studies on the Structure of Costs in Banking Industry, Review of Monetary and Financial Studies, Vol.15, 24-51, 1997.

Measuring Cost Efficiency in Japanese Banking(co-authored with Atsushi Yoshida), Japanese Journal of Financial Economics, Vol.1, No.2, 87-110, 1996.

From Access to Bypass: A Real Options Approach (co-authored with Keizo Mizuno), Akahori, J., S. Ogawa, and S. Watanabe (eds.), Proceedings of the 6th Ritsumeikan International Symposium: Stochastic Processes and Application to Mathematical Finance, World Scientific, pp. 127-150, 2007.

The Cost Efficiency of Japanese Largest Banks During 1990s, Social System Studies, Vol. 10, 1-25, 2005.

C-CAPM in Japanese Asset Market: Reexamination, Osaka Economic Papers, Vol.44, No.3&4, 76-90, 1996.