Research

Last Updated: Nov. 6/19

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Publications (in English)

Dynamic Contract and Discretionary Termination Policy under Loss Aversion (co-authored by Hiroshi Osano), Journal of Economic Dynamics and Control, Vol. 111, Article 103794, 2020.

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

Investment Timing Decisions of Managers under Endogenous Contracts (co-authored by 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 by Hiroshi Osano), Review of Financial Studies, Vol.26, No.10, pp.2620-2647, 2013.

Optimal Timing of Management Turnover under Agency Problems (co-authored by 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 by Keizo Mizuno), Journal of Regulatory Economics, Vol.35, No.2, pp.179-200, 2009.

Access Pricing and Investment with Stochastically Growing Demand (co-authored by 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 by 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 by 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.


Publications (in Japanese)

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(with Atsushi Yoshida), Japanese Journal of Financial Economics, Vol.1, No.2, 87-110, 1996.

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Other Publications (in English)

Service-Based vs. Infrastructure-Based Competition: A Real Options Approach (co-authored by Keizo Mizuno), Benzoni L., and P. Geoffron (eds.), Infrastructure versus Service-Based Competition: The case of Mobile Telecommunications, Quantifica Publishing, pp.73-81, 2008.

From Access to Bypass: A Real Options Approach (co-authored by 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.

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Other Publications (in Japanese)

Macroeconomics 2nd eds. (co-authored by Koichi Futagami), Yuhikaku, Tokyo, 2017

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.

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Discussion Papers and Mimeographs

Optimal Executive Compensation and Investment Timing (co-authored by Hiroshi Osano), mimeo, 2008.

Financial Relations between Banks and Firms: New Evidence from Japanese Data (co-authored by Hiroshi Osano), Kyoto Institute of Economic Research, Discussion Paper No.546, 2002

Specification Tests for Stochastic Frontier Models Using Panel Data (with Atsushi Yoshida), mimeo.、1996

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Referee

Asian Economic Journal
Asia-Pacific Financial Markets
Economic Journal
European Journal of Operational Research
International Journal of Economic Theory
International Journal of Game Theory
International Journal of Industrial Organization

Japan and the World Economy
Japanese Economic Review
Journal of Economic Dynamics and Control

Journal of the Japanese and International Economies

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