Researchers Information System

Takato Hiraki

    Graduate School of International Management Specially Appointed Professor
Last Updated :2020/09/01

Researcher Information

Alias Name

    Taka-chan

Affiliation

    Graduate School of International Management Specially Appointed Professor

Degree

  • Ph.D.(University of Arizona)

J-Global ID

Research Interests

  • Corporate Finance   Finance   Asset Management   

Research Areas

  • Humanities & social sciences / Business administration / Financial Management

Academic & Professional Experience

  • 2018/09 - Today  International University of JapanGraduate School of International ManagementSpecially Appointed Professor
  • 2010/04 - 2018/03  Tokyo University of ScienceSchool of ManagementProfessor
  • 2004/04 - 2010/03  Kwansei Gakuin UniversityInstitute of Business & AccountingProfessor
  • 2004/07 - 2004/08  University of Canterbury (New Zealand)School of ManagementEarskine Visiting Fellow
  • 1988/04 - 2003/03  International University of JapanGraduate School of International ManagementProfessor
  • 2002/08 - 2002/09  Yale UniversityYale School of ManagementScott Shoen Fellow
  • 2000/04 - 2001/03  Osaka UniversityOsaka School of International Public PolicyPostal Service Endowed Professor
  • 1988/01 - 1998/03  MTB Investment Technology Institute, Inc.Quantitative Investment ResearchSenior Research Fellow
  • 1994/09 - 1995/03  University of Illinois at Urbana-ChampaignCollege of Business AdministrationFulbright Senior Scholar
  • 1986/07 - 1987/12  Yamaichi Research Institute, Inc.System Investment DevelopmentSenior Research Fellow
  • 1983/08 - 1986/07  University of Hawaii at ManoaCollege of Business AdministrationAssistant Professor
  • 1974/04 - 1976/06  Yasuda Trust & Banking Co., Ltd.

Education

  • 1979/01 - 1983/08  University of Arizona  Graduate School of Business  Ph.D. Program, Business Administration
  • 1977/06 - 1978/12  University of Arizona  Graduate School of Business  Master of Business Administration (MBA)
  • 1970/04 - 1974/03  Gakushuin University  Faculty of Law  Political Science

Published Papers

  • Takato Hiraki; Ming Liu; Xue Wang
    JOURNAL OF BANKING & FINANCE ELSEVIER SCIENCE BV 59 297 - 310 0378-4266 2015/10 [Refereed]
  • Jongmoo Jay Choi; Takato Hiraki; James A. Landi
    JOURNAL OF CORPORATE FINANCE ELSEVIER SCIENCE BV 29 88 - 110 0929-1199 2014/12 [Refereed]
  • Takato Hiraki; Akitoshi Ito; Darius A. Spieth; Naoya Takezawa
    JOURNAL OF FINANCIAL AND QUANTITATIVE ANALYSIS UNIV WASHINGTON SCH BUSINESS & ADMINISTRATION 44 (6) 1489 - U8 0022-1090 2009/12 [Refereed]
  • Stephen J. Brown; Takato Hiraki; Kiyoshi Arakawa; Saburo Ohno
    PACIFIC-BASIN FINANCE JOURNAL ELSEVIER SCIENCE BV 17 (3) 295 - 318 0927-538X 2009/06 [Refereed]
  • Takato Hiraki; Akitoshi Ito
    PACIFIC-BASIN FINANCE JOURNAL ELSEVIER SCIENCE BV 17 (1) 100 - 124 0927-538X 2009/01 [Refereed]
  • The Impact of Index Futures Trading on the Day-of-the-Week Effect in Japan
    Takato Hiraki; Edwin D. Maberly; Paul M. Taube
    Pacific-Basin Finance Journal 6 493 - 506 2008 [Refereed]
  • Takato Hiraki; Edwin D. Maberly
    International Finance Review Vol. 4: The Japanese Finance: Corporate Finance and Asset Management in Changing Japan 4 233 - 252 2003/12 [Refereed]
  • Jay J. Choi; Takato Hiraki; Nobuya Takezawa
    International Finance Review Vol. 4: The Japanese Finance: Corporate Finance and Asset Management in Changing Japan 4 461 - 478 2003/12 [Refereed]
  • Jay J. Choi; Takato Hiraki
    International Finance Review Vol. 4: The Japanese Finance: Corporate Finance and Asset Management in Changing Japan 4 3 - 10 2003/12 [Invited]
  • Stephen J. Brown; William N. Goetzmann; Takato Hiraki; Noriyoshi Shiraishi
    Pacific Basin Finance Journal 11 (4) 393 - 412 0927-538X 2003/08 [Refereed]
  • Takato Hiraki; Hideaki Inoue; Akitoshi Ito; Fumiaki Kuroki; Hiroyuki Masuda
    Pacific Basin Finance Journal 11 (3) 239 - 265 0927-538X 2003/07 [Refereed]
  • Investor Familiarity and Home Bias: Japanese Evidence
    Takato Hiraki; Akitoshi Ito; Fumiaki Kuroki
    Pacific-Basin Finance Journal 11 393 - 412 2003 [Refereed]
  • Investor Sentiment in Japanese and U.S. Daily Mutual Fund Flows
    Stephen J. Brown; William Goetzmann; Takato Hiraki; Noriyoshi Shiraishi; Masahiro Watanabe
    Yale ICF Working Paper No. 02-09 2002 [Refereed]
  • SJ Brown; WN Goetzmann; T Hiraki; T Otsuki; N Shiraishi
    JOURNAL OF BUSINESS UNIV CHICAGO PRESS 74 (1) 59 - 77 0021-9398 2001/01 [Refereed]
  • Volume and Individual Security Returns on the Tokyo Stock Exchange
    Marc Bremer; Takato Hiraki
    Pacific-Basin Finance Journal 7 351 - 370 1999 [Refereed]
  • Is foreign exchange risk priced in the Japanese stock market?
    JJ Choi; T Hiraki; N Takezawa
    JOURNAL OF FINANCIAL AND QUANTITATIVE ANALYSIS UNIV WASHINGTON 33 (3) 361 - 382 0022-1090 1998/09 [Refereed]
  • How sensitive is short-term Japanese interest rate volatility to the level of the interest rate?
    T Hiraki; N Takezawa
    ECONOMICS LETTERS ELSEVIER SCIENCE SA 56 (3) 325 - 332 0165-1765 1997/11 [Refereed]
  • Predictable patterns after large stock price changes on the Tokyo stock exchange
    M Bremer; T Hiraki; RJ Sweeney
    JOURNAL OF FINANCIAL AND QUANTITATIVE ANALYSIS UNIV WASHINGTON 32 (3) 345 - 365 0022-1090 1997/09 [Refereed]
  • Cointegration, Common Factors, and the Term Structure of Yen Off-Shore Interest Rates
    Takato Hiraki; Noriyoshi Shiraishi; Nobuya Takezawa
    Journal of Fixed Income 6 69 - 75 1996 [Refereed]
  • Some Evidence on the Pricing of Exchange Risk in the Japanese Stock Market
    Takato Hiraki; Nobuya Takezawa
    MTEC Journal (9) 24 - 49 1996 [Invited]
  • THE INFORMATION-CONTENT OF END-OF-THE-DAY INDEX FUTURES RETURNS - INTERNATIONAL EVIDENCE FROM THE OSAKA-NIKKEI-225 FUTURES CONTRACT
    T HIRAKI; ED MABERLY; N TAKEZAWA
    JOURNAL OF BANKING & FINANCE ELSEVIER SCIENCE BV 19 (5) 921 - 936 0378-4266 1995/08 [Refereed]
  • International Diversification When Small Firm Stocks Are Treated as Separate Investment Assets: An Application of the Multi-period Model
    Takato Hiraki; Hitoshi Takehara
    R. Aggarwal and D. Schirm, eds., Global Portfolio Diversification: Risk Management, Market Microstructure, and Implementation Issues, Academic Press 168 - 221 1995 [Refereed]
  • Corporate Governance, Long-Term Investment Orientation, and Real Options in Japan
    Takato Hiraki
    L. Trigeorgis, ed., Real Options in Capital Investment: New Contributions, Praeger Publishers 151 - 162 1995 [Refereed][Invited]
  • Takato Hiraki; Edwin D. Maberly
    Pacific-Basin Finance Journal 3 (1) 93 - 111 0927-538X 1995 [Refereed]
  • Takato Hiraki; Edwin D. Maberly; Paul M. Taube
    Financial Engineering and the Japanese Markets Kluwer Academic Publishers 1 (1) 67 - 80 1380-2011 1994/03 [Refereed]
  • Day-of-the-Week Mean Spillover Effect between New York and Tokyo: January 1976 to August 1992: A Note
    Takato Hiraki; Edwin D. Maberly; Young.S. Park
    Pacific-Basin Finance Journal 2 61 - 72 1994 [Refereed]
  • Stock Return Volatility and Trading Volume: Evidence from the Tokyo Stock Exchange
    Takato Hiraki; Nobuya Takezawa
    MTEC Journal (7) 3 - 9 1994 [Refereed][Invited]
  • Japanese Initial Public Offerings
    Kevin Hebner; Takato Hiraki
    I. Walter and T. Hiraki, eds., Restructuring Japan's Financial Markets, Business One/Irwin 79 - 114 1993 [Refereed][Invited]
  • DIVIDEND YIELDS AND STOCK RETURNS - EVIDENCE FROM THE TOKYO-STOCK-EXCHANGE
    RP RAO; R AGGARWAL; T HIRAKI
    JOURNAL OF ECONOMICS AND BUSINESS ELSEVIER SCIENCE INC 44 (3) 187 - 200 0148-6195 1992/08 [Refereed]
  • Price/Book Value Ratios and Equity Returns on the Tokyo Stock Exchange: Empirical Evidence for Regularities
    Raj Aggarwal; Takato Hiraki; Ramesh Rao
    Financial Review 27 589 - 605 1992 [Refereed]
  • The Effect of End-of-the-Day Futures Trading on Overnight Returns on the Nikkei 225 Index: An Application of GARCH Model
    Takato Hiraki; Nobuya Takezawa
    MTEC Journal (5) 23 - 34 1992 [Refereed]
  • Commentary
    Takato Hiraki
    Review of Futures Markets 10 (3) 458 - 459 1991 [Invited]
  • Equity Return Regularities Based on the Price/Sales Ratios: An Empirical Study of the Tokyo Stock Exchange
    Raj Aggarwal; Ramesh Rao; Takato Hiraki
    G. Rhee and R. P. Chang, eds., Asian Capital Market Research, New York: Elsevier Science Publishers 337 - 354 1990 [Refereed]
  • Raj Aggarwal; Ramesh P. Rao; Takato Hiraki
    Journal of Financial Research 13 (3) 249 - 263 1475-6803 1990 [Refereed]
  • Skewness and Kurtosis in Japanese Equity Returns
    Raj Aggarwal; Ramesh Rao; Takato Hiraki
    Journal of Financial Research 12 253 - 260 1989 [Refereed]
  • Common Stocks as Inflation Hedge in the United States and Japan
    Takato Hiraki
    American Business Review 9 58 - 64 1986 [Refereed]
  • Pricing Problems of Unseasoned Equity Issues in Japan: An Empirical Test for Primary and Secondary Market Efficiency
    Takato Hiraki
    Japan Finance Review (4) 1 - 27 1985 [Refereed]
  • TESTING THE PROXY EFFECT HYPOTHESIS OF INFLATION ON STOCK RETURNS FOR THE JAPANESE MARKET
    T HIRAKI
    QUARTERLY JOURNAL OF BUSINESS AND ECONOMICS UNIV NEBRASKA-LINCOLN 24 (2) 73 - 87 0747-5535 1985 [Refereed]
  • Selling Unseasoned Equity Shares in Hong Kong and Japan
    Stephen Dawson; Takato Hiraki
    Hong Kong Journal of Business Management 3 125 - 134 1985 [Refereed]
  • Smelter Emission Controls: The Impact on Mining and the Market for Acid
    Michael Reiber; rincipal Investigator; Takato Hiraki; thers
    PB83 National Technical Services, State of Interior, US Government 1983

Awards & Honors

  • 2005/07 Asian Finance Association 2005 Kuala Lumpur Conference Best Paper Award
     “Investor Biases in Japan: Another Pathology of the Keiretsu System” 
    受賞者: Takato Hiraki;Akitoshi Ito
  • 1993/08 Sandra Ann Morsilli Pacific-Basin Capital Markets (PACAP) PACAP Competitive Research Award
     "Price and Volume Effects on TOPIX Returns Associated with the Trading of Nikkei Futures: January 1976 to December 1993" 
    受賞者: Takato Hiraki;Edwin Maberly

Committee Membership

  • 2010/04 - Today   Japan Society for the Promotion of Science (JSPS)   International Award Selection Committee (2010~2012) (2016- )
  • 2003/01 - Today   Asian Finance Association   Associate Editor, Pacific-Basin Finance Journal
  • 2002/09 - Today   University of Kuwait   International Advisory Board Member, Arab Journal of Administrative Science
  • 2012/04 -2015/03   Research Center for Science Systems, JSPS   Social Science Area Committee Member and Research Fellow
  • 2007/08 -2014/03   FMA International   Associate Editor, Journal of Applied Finance
  • 2007/04 -2013/09   ABEST21 (International MBA Accreditation Body   Accreditation Committee (Chair 2009)
  • 1997/03 -2013/07   FMA International   Program Committee, 1997 Honolulu and 2013 Tokyo Asian Conference
  • 2008/04 -2011/03   Certified Public Accountants and Auditing Oversight Board   National Examination Committee
  • 2004/09 -2010/03   JAFFEE   Managing Editor, Asia-Pacific Financial Markets
  • 2003/09 -2006/08   Korean Securities Association (KSA)   Associate Editor, Asia-Pacific Journal of Financial Studies
  • 2004/09 -2005/08   European Finance Association   Program Committee, 2005 Moscow Conference
  • 2002/06 -2004/07   Asian Finance Association   First Co-president (2002-2004)
  • 2002/07 -2002/08   Asian Finance Association   Conference and Program Chair, 2002 Inauguration Conference in Tokyo
  • 1997/07 -2001/06   Pacific-Basin Financial Management Society   Executive Board Member、President (2001)
  • 1994/04 -1999/09   QUICK Research Institute   QSP Index Annual Review Committee
  • 1995/04 -1999/03   Fulbright, Japan-U.S. Educational Commission   Award Selection Committee
  • 1992/08 -1996/09   Global Finance Association   Board Member and Associate Editor, Global Finance Journal


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