September 18th, Sunday

RegistrationFront Entrance of Building B (E-Campus)9:00～

<9:30～11:45>
A1(Room 101)　Special Session:
The Great East Japan Earthquake and SME Finance
Chair Nagoya University Nobuyoshi Yamori

（1）Firms in Quake-hit Areas and their Relationships with Financial Institutions	Presenter Hitotsubashi University Iichiro Uesughi
（2）The Impact of the Great East Japan Earthquake on Regional Finance	Presenter Kansai Gaidai University Yasuhiro Horie University of Hyogo Hajime Kawamukai
（3）Overlapping Debt Problem from an Economics Point of View	Presenter Kobe University Hirofumi Uchida Discussants Development Bank of Japan Masaharu Hanazaki Yokohama City University Tsuguo Fujino

E1(Room 402)　Session: Financial History
Chair Reitaku University Masanori Sato

（1）Thirty Year History of Yen Loan for China: Change to Environmental Yen Loan	Presenter N/A Toshinari Nunome Discussant Kinki University Nobuyoshi Nishizawa
（2）Singapore’s Open Economic Policy in the 1970s	Presenter Ph.D. Student, Tokyo Metropolitan University Yoshinori Bando Discussant Hosei University Masayoshi Tsurumi
（3）The Intensified Competition between City Banks and Shinkin Banks and the Relationship Banking in 1970’s	Presenter Ph.D. Student, Chuo University Daisuke Arai Discussant Ritsumeikan University Yoshiaki Ogura

F1(Room 403)　Session: Empirical Analyses of Monetary Market and Others
Chair The University of Tokyo Shin-ichi Fukuda

（1）The Structural Change of Global Commodity Markets	Presenter Musashi University Tsutomu Chano Discussant Hitotsubashi University Takashi Misumi
（2）The Impact of International Capital Flow in Emerging Markets: An Approach from Foreign Exchange Policy and Capital Control	Presenter Musashi University Sanae Ohno Senshu University Junko Shimizu Discussant The Japan Research Institute Satoshi Shimizu

C1(Room 203)　Session: International Finance I
Chair Kyushu University Kenji Iwata

（1）Exchange Rate Risks in a Small Open Economy	Presenter Kyorin University Chikafumi Nakamura Discussant Kansai University Sadayoshi Takaya
（2）International Integration Measure for Sector Portfolio	Presenter Meisei University Hayato Nakata Discussant Ritsumeikan University Kohei Aono

D1(Room 204)　Session: Finance in Asia
Chair Aichi University Yutaka Kurihara

（1）How does State-ownership Affect the Operational Behavior of Listed Companies in Vietnam? : Estimation of Capital Structure and Profitability by 3SLS	Presenter Hitotsubashi University Hidenobu Okuda Ph.D. Student, Hitotsubashi University Lai Thi Phuong Nhung Discussant Nagoya City University Mamoru Nagano
（2）Productive Efficiency of Philippine Banks	Presenter Institute of Developing Economies Jun Saito Discussant Kobe University Fumiharu Mieno
（3）Malaysian Exchange and Capital Controls in 1998 : Impact on Trade and Lesson for ACU	Presenter Mizuho Corporate Bank, Ltd. Hiroshi Akabane Discussant Ryukoku University Tetsuji Murase

<11:45～12:45> Lunch

<12:45～14:25>　Room 101
Invited Lecture　International Financial System: Today and Tomorrow
Chair Keio University Naoyuki Yoshino

Speakers President of Institute for International
Monetary Affairs Toyoo Gyohten
Vice Minister of Finance for International Affairs Takehiko Nakao

<14:35～16:50>
B2(Room 201) Panel Session: International Finance
Exchange Rate Forecasting: Practitioners’ and Academicians’ Views
Chair Rissho University Yasushi Hayashi

（1）Frontier Research in Exchange Rate Forecasting	Presenter Kobe University Kentaro Iwatsubo
（2）The Frontier of Exchange Rate Forecasting	Presenter Nomura Securities Co. Taisuke Tanaka
（3）Practical Research in Exchange Rate Forecasting	Presenter Citibank Osamu Takashima

C2(Room 203)　Session　Liquidity and Risk: Institution and Theory
Chair Sophia University Yosuke Takeda

（1）Strategic Defaults	Presenter Seijo University Hiroshi Fukumitsu Discussant Ritsumeikan University Akira Matsumoto
（2）Securitization by Non-Banks and Bankruptcy of Originators	Presenter Yokohama National University Masahiko Takahashi Discussant St. Andrew’s University Junsuke Matsuo
（3）The Safer, The Riskier: A Model of Bank Leverage and Financial Instability	Presenter Kyoto University Takayuki Tsuruga Bank of Japan Ryo Kato Discussant Kansai University Katsuya Ue

D2(Room 204)　Session: Monetary Policy
Chair Kwansei Gakuin University Atsushi Tanaka

（1）Policy Responses under Inflation Targeting: A VAR Analysis with Sign Restrictions	Presenter Osaka Prefecture University Minoru Tachibana Discussant University of Marketing and Distribution Sciences Masafumi Kozuka
（2）A Theoretical Model of Long-term Deflationary Recession	Presenter Waseda University Tomohiro Inoue Waseda University Shunsuke Shinagawa Chuo University Eiji Tsuzuki Discussant Tokyo University of Science, Suwa Kazuhiko Nakahira

E2(Room 402)　Session: Regional Finance
Chair Tohoku Fukushi University Osamu Kamoike

（1）Loan Portfolio Adjustments of Regional Financial Institutions to Regional Economic Conditions in the Japan’s Post-Bubble Period: A Panel Cointegration Analysis	Presenter Osaka Sangyo University Shohei Ishibashi Discussant Policy Research Institute, Ministry of Finance Daisuke Ishikawa
（2）The Introduction of the Information Technology System developed jointly by Japanese Regional Banks and its Effects on Banking Business	Presenter Shinshu University Yoshikazu Yamaoki Discussant Keio University Naoyuki Yoshino
（3）Bank Deposit Interest Rate Pass-Through and Geographical Segmentation in Japanese Banking Markets: A Panel Cointegration Approach	Presenter Research Institute of Economy, Trade and Industry Taisuke Uchino Discussant Kyushu University Masao Nakata

<17:00～17:50>
General Meeting　　　　　Room101 (Building B)

<18:00～20:00>
Reception　　　　　　　　　Cafeteria November (November Hall)

September 19th, Monday

RegistrationFront Entrance of Building B (E-Campus)9:00～

<9:30～11:45>
E3(Room 402)　Panel Session: Financial History
Money and Credit during the Transition Period to the Modern Era: From the Perspective of Payment and Settlement
Chair Hosei University Masayoshi Tsurumi

（1）Money and Credit in Japan in the Pre-Modern Era	Presenter Matsuyama University Masaru Iwahashi
（2）Money and Credit in Japan during the Transition Period to the Modern Era	Presenter University of Marketing and Distribution Sciences Keiichiro Kato Bank of Japan Masato Shizume
（3）Money and Credit in China during the Transition Period to the Modern Era	Presenter Hitotsubashi University Tomoko Shiroyama Discussants Sumitomo Historical Archives Ryoichi Yasukuni Kyushu University Ryoichi Imai

A3(Room 101)　Panel Session: Central Banking
Monetary System under Globalism
Chair Kansai University Yuzo Honda

（1）The Standard and Non-standard Monetary Policy of the Federal Reserve under Recent Economic Turmoil	Presenter Kobe University Toshiki Jinushi
（2）The Standard and Non-standard Monetary Policy of ECB under Recent Economic Turmoil	Presenter Kansai University Sadayoshi Takaya
（3）The Monetary Policy of the BOJ and Money Markets after the Financial Crisis	Presenter Totan Research Co. Izuru Kato Discussants Hitotsubashi University Eiji Ogawa Kobe University Wataru Takahashi

F3(Room 403)　Session: Finance & Behavioral Finance
Chair Hitotsubashi University Takashi Misumi

（1）Efficiency of Opening Price : Time Series Analyses using Global Daily Stock Indexes	Presenter Gakushuin University Ken-ichi Tatsumi Ph.D. Student, Gakushuin University Chao Zhao Discussant Osaka University Yoshiro Tsutsui
（2）Borrowing Behavior and Attitudes towards Risk and Time: Experimental Approach	Presenter Kinki University Gregorz Mardyla Ritsumeikan University Hiroshi Izawa Discussant Waseda University Fumihiko Hiruma
（3）Income Uncertainty, Risk Aversion, and Consumption Behavior : Evidence from Japan (1987-2009)	Presenter Ph.D. Student, Kobe University Hideaki Tamura Discussant University of Marketing and Distribution Sciences Masafumi Kozuka

C3(Room 203)　Session: International Finance II
Chair Kobe University Seiichi Fujita

（1）Balance of Payments Stages in the World over Three Decades	Presenter Seikei University Masanori Ono Discussant Kobe University Yoichi Matsubayashi
（2）Development of Money Markets and Role of Benchmark Interest Rates: Case of Thailand	Presenter Bunkyo Gakuin University Naoyoshi Kinukawa Discussant Kobe University Fumiharu Mieno
（3）Supply Shocks in Emerging Economies and Lower Inflation in Developed Countries: Three Country DSGE Approach	Presenter Bank of Japan Naohisa Hirakata Asian Development Bank Institute Masahiro Kawai Bank of Japan Yuto Iwasaki Discussant Chiba Keizai University Eiji Okano

D3(Room 204)　Session: Finance of Selected Countries
Chair Meiji University Takayoshi Kitaoka

（1）The Effect of Financial Development and FDI Spill-over on Regional Economic Growth in China: Analysis based on Provincial Panel Data	Presenter Ph.D. Student, Kyushu University Zheyi Liu Discussant Fukuoka Women’s University Yan Zhang
（2）Contagion of the Sovereign Risk in the Euro Area and the Impact of the Financial Assistance: A GARCH Analysis on Volatility Transmission in the European Sovereign Bond Markets	Presenter Asian Development Bank Institute Atsushi Masuda Japan Bank for International Cooperation Hitoshi Oshige Discussant Hitotsubashi University Akira Ariyoshi
（3）Banking System and Formation of Interest Rates in Vietnam	Presenter Niigata University Takayasu Ito Discussant Hitotsubashi University Hidenobu Okuda

G3(Room 501)　Session: Finance of Small and Medium Enterprise
Chair Yamaguchi University Takashi Hyodo

（1）Firm Creation, Size, and Bank Competition	Presenter Hiroshima University Masayo Shikimi Discussant Ritsumeikan University Yoshiaki Ogura
（2）Information Asymmetry in Small Business Financing	Presenter Mizuho Corporate Bank, Ltd Toshiyuki Kobayashi Discussant Toyo University Yasuyoshi Masuda
（3）The Impact of The Great East Japan Earthquake on SMEs	Presenter Shinkin Central Bank Research Institute Yushi Shinada Discussant Japan Finance Corporation Research Institute Hikaru Fukanuma

<11:45～12:45>　　Lunch

<12:45～16:00>　　Room 101
Symposium: Task of Financial and Capital Markets for Reconstruction after the Great East Japan Earthquake
Chair Hitotsubashi University Eiji Ogawa

Presenters The University of Tokyo Takatoshi Ito
Asian Development Bank Institute Masahiro Kawai
Keio University Takero Doi
Nomura Institute of Capital Markets Research Yuta Seki
Discussants Tohoku Fukushi University Osamu Kamoike
Kobe University Toshiki Jinushi

<16:00>
Closing Remarks　　　　　　　　Kinki University　　Hidefumi Yamagami

Program committee

Yuichi Abiko (Kinki University)
Kenji Iwata (Kyushu University)
Eiji Ogawa (Hitotsubashi University)
Takayoshi Kitaoka (Meiji University)
Yutaka Kurihara (Aichi University)
Masanori Sato (Reitaku University)
Yosuke Takeda (Sophia University)
Toshiki Jinushi (Kobe University)
Yasushi Hayashi (Rissho University)
Shin-ichi Fukuda (The University of Tokyo)
Nobuyoshi Yamori (Nagoya University)Takayasu Ito (Niigata University)
Kentaro Iwatsubo (Kobe University)
Osamu Kamoike (Tohoku Fukushi University)
Mami Kobayashi (Kinki University)
Toshiyuki Souma (Kinki University)
Atsushi Tanaka (Kwansei Gakuin University)
Takashi Hyodo (Yamaguchi University)
Seiichi Fujita (Kobe University)
Takashi Misumi (Hitotsubashi University)
Naoyuki Yoshino (Keio University)

Preparatory Committee

Hidefumi Yamagami
Yuichi Abiko
Toshiyuki Souma
Mami Kobayashi
Takeshi Hoshikawa
Kouki Iwama

Access to the Main Campus, Kinki University
http://www.kindai.ac.jp/english/access/locations.html