2011 Autumn Annual Meeting Program

September 18th, Sunday

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

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 InstitutionsPresenter Hitotsubashi University Iichiro Uesughi
(2)The Impact of the Great East Japan Earthquake on Regional FinancePresenter Kansai Gaidai University Yasuhiro Horie
University of Hyogo Hajime Kawamukai
(3)Overlapping Debt Problem from an Economics Point of ViewPresenter 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 LoanPresenter N/A Toshinari Nunome
Discussant Kinki University Nobuyoshi Nishizawa
(2)Singapore’s Open Economic Policy in the 1970sPresenter 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’sPresenter 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 MarketsPresenter 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 ControlPresenter 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 EconomyPresenter Kyorin University Chikafumi Nakamura
Discussant Kansai University Sadayoshi Takaya
(2)International Integration Measure for Sector PortfolioPresenter 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 3SLSPresenter Hitotsubashi University Hidenobu Okuda
Ph.D. Student, Hitotsubashi University Lai Thi Phuong Nhung
Discussant Nagoya City University Mamoru Nagano
(2)Productive Efficiency of Philippine BanksPresenter 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 ACUPresenter 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

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

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

(1)Strategic DefaultsPresenter Seijo University Hiroshi Fukumitsu
Discussant Ritsumeikan University Akira Matsumoto
(2)Securitization by Non-Banks and Bankruptcy of OriginatorsPresenter Yokohama National University Masahiko Takahashi
Discussant St. Andrew’s University Junsuke Matsuo
(3)The Safer, The Riskier: A Model of Bank Leverage and Financial InstabilityPresenter 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 RestrictionsPresenter Osaka Prefecture University Minoru Tachibana
Discussant University of Marketing and Distribution Sciences Masafumi Kozuka
(2)A Theoretical Model of Long-term Deflationary RecessionPresenter 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 AnalysisPresenter 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 BusinessPresenter 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 ApproachPresenter Research Institute of Economy, Trade and Industry Taisuke Uchino
Discussant Kyushu University Masao Nakata

General Meeting     Room101 (Building B)

Reception         Cafeteria November (November Hall)

September 19th, Monday

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

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 EraPresenter Matsuyama University Masaru Iwahashi
(2)Money and Credit in Japan during the Transition Period to the Modern EraPresenter 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 EraPresenter 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 TurmoilPresenter Kobe University Toshiki Jinushi
(2)The Standard and Non-standard Monetary Policy of ECB under Recent Economic TurmoilPresenter Kansai University Sadayoshi Takaya
(3)The Monetary Policy of the BOJ and Money Markets after the Financial CrisisPresenter 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 IndexesPresenter 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 ApproachPresenter 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 DecadesPresenter Seikei University Masanori Ono
Discussant Kobe University Yoichi Matsubayashi
(2)Development of Money Markets and Role of Benchmark Interest Rates: Case of ThailandPresenter 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 ApproachPresenter 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 DataPresenter 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 MarketsPresenter 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 VietnamPresenter 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 CompetitionPresenter Hiroshima University Masayo Shikimi
Discussant Ritsumeikan University Yoshiaki Ogura
(2)Information Asymmetry in Small Business FinancingPresenter Mizuho Corporate Bank, Ltd Toshiyuki Kobayashi
Discussant Toyo University Yasuyoshi Masuda
(3)The Impact of The Great East Japan Earthquake on SMEsPresenter 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

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