Financial markets; Government and institutions; Empirical asset pricing; Asian capital markets.
Takeshi Yamada is a Professor of Finance. His research spans asset pricing and corporate finance, with a particular interest in Asian financial markets and institutions. Takeshi has explored the role of individual, institutional and foreign investors in the Japanese stock market, and how employees and banks affect corporate behaviour in Japan. He has also studied the various roles played by the government in the Japanese and Chinese private corporate sector, including government ownership, personnel exchange and government subsidies. His research has been funded through schemes run by the Ministry of Education Singapore and Research Grants Committee Hong Kong, among others, and has been published in journals such as Journal of Finance, Review of Financial Studies, Review of Corporate Finance Studies and Journal of Business. Takeshi is an elected board member of the Asian Finance Association and serves as Associate Editor of several Asian-based journals including Pacific-Basin Finance Journal and Asia-Pacific Journal of Financial Studies.
“Employee inside debt and firm risk-taking: Evidence from employee deposit programs in Japan,” with Sudipto Dasgupta, Yupeng Lin and Zilong Zhang, Review of Corporate Finance Studies, vol. 8, no.2, 2019, pp.302-347.
“Costs and benefits of short sell disclosure” with Truong X. Duong and Zsuzsa Reka Huszar, Journal of Banking and Finance, vol. 53, 2015, pp 124-139.
“Political and economic incentives of governmenmt in partial privatization”, with Zhaohua Li, Journal of Corporate Finance, vol. 32, 2015, pp. 169-189.
“The relationship between the frequency of news release and the information asymmetry: The role of uninformed trading,” with Srinivasan Sankaraguruswamy and Jianfeng Shen, Journal of Banking and Finance, vol. 37, 2013, pp. 4134-4143.
“The impact of global institutional investors on local equity prices: Reversal of the size premium” with Hao Jiang, Financial Analyst Journal, vol. 67, no. 6,November/December 2011, pp. 61-76.
“Interaction of investor trades and market volatility: Evidence from the Tokyo Stock Exchange,” with Kee-Hong Bae and Keiichi Ito, Pacific-Basin Finance Journal, vol. 16, no. 4, September 2008, pp. 370-388.
“How do individual, institutional, and foreign investors win and lose in equity trades? Evidence from Japan,” with Kee-Hong Bae and Keiichi Ito, International Review of Finance, vol. 6, nos. 3/4, September/December 2006, pp.129-155.
“Asset price shocks, financial constraint, and investment: Evidence from Japan,” with Vidhan K. Goyal, Journal of Business, vol. 77, no.1, 2004, pp. 175-199.
“The effect of bank relations on investment decisions: An investigation of Japanese takeover bids,” with Jun-Koo Kang and Anil Shivdasani, Journal of Finance, vol. 55, no. 5, 2000, pp.2197-2218.
"The performance of Japanese mutual funds," with Jun Cai and K.C. Chan, The Review of Financial Studies, vol. 10, no. 2, 1997, pp.237-273.
The University of Adelaide, Momentum Fund, 2014.
Ministry of Education Academic Research Fund Tier 1, Singapore, 2009-2011, 2005-2009, 2002-2006.
Earmarked Competitive Grant, RGC, Hong Kong, 2000-2003, 2000-2002, 1998-2002
Direct Allocation Grant, RGC, Hong Kong, 1997-1998, 1996-1997, 1994-1995.
2018 CFA Asia-Pacific Research Exchange Award
2014 Executive Dean’s Commendation for Excellence in Research, The University of Adelaide
2013 ANU Best Paper Award, Asian Finance Association
2007 CFA Institute Asian Investment Research Award
Board of Directors, Asian Finance Association, Current (Also in 2020-2018, 2016-2012)
Associate Editor, Pacific-Basin Finance Journal
Associate Editor, Asia-Pacific Journal of Financial Studies
Takeshi Yamada has taught at the University of Adelaide, National University of Singapore and Hong Kong University of Science & Technology after receiving PhD from University of California, Berkeley.