Basic Information

Faculty

• Faculty of Law

Email Address

• Email Address

  asai.kentaro.8zkyoto-u.ac.jp

Academic Degree

• 30 Jun. 2013

  シカゴ大学修士（経済学）
• 30 Jun. 2016

  シカゴ大学博士（経済学）

Academic Resume (Undergraduate School/Majors)

• シカゴ大学, The College 経済学専攻, 卒業

High School

• High School

  Kaijo Senior High School

Research History

• From 2024, To Present

  Kyoto University, Graduate School of Law, Center for Interdisciplinary Studies of Law and Policy
• From 2016, To 2024

  Australian National University, College of Business and Economics
• From 2007, To 2011

  Goldman Sachs, Global Investment Research

Language of Instruction

• Japanese
• English

ID,URL

• ORCID ID

  0000-0003-0037-4769

• J-Global ID

  202401003418822206

• Researcher number

  80993998

Website(s) (URL(s))

• https://sites.google.com/site/urotankecon/

researchmap URL

• https://researchmap.jp/urotanke

Research

Research Topics, Overview of the research

• Research Topics

  Corporate Governance, Corporate Finance, Banking, Industrial Organization, Behavioral Economics, Law and Economics

• Overview of the research

  My research interest is the efficiency of an organization at each hierarchy, so it is diverse, including corporate studies, banking, industrial organization, behavioral studies, and law and economics. I clarify what influences organizational inefficiency, using both experimental and structural approaches.

Research Interests

• Corporate Governance
• Corporate Finance
• Banking
• Industrial Organization
• Behavioral Economics
• Law and Economics

Research Areas

• Humanities & social sciences, New fields in law
• Humanities & social sciences, Economic statistics
• Humanities & social sciences, Money and finance
• Humanities & social sciences, Economic policy

Papers

• Common Lender, Ex-Banker Director, and Corporate Investment

  Kentaro Asai; Thao Hoang; Takeshi Yamada

  Journal of Financial and Quantitative Analysis, 25 Sep. 2023, Peer-reviewed, Corresponding author

  
• Opacity, signaling, and bail-Ins

  Kentaro Asai; Bruce D. Grundy; Ryuichiro Izumi

  SSRN Electronic Journal, 2023

  
• Bank lobbying as a financial safety net: Evidence from the postcrisis U.S. banking sector

  Kentaro Asai

  The Review of Corporate Finance Studies, 19 Dec. 2022, Peer-reviewed, Corresponding author

  
• Debt-equity conflicts and efficiency of distressed firms: Evidence from banker-directors in Japan

  Kentaro Asai; Dong Beom Choi

  SSRN Electronic Journal, 2022

  
• Regulatory capture in public procurement: Evidence from revolving door bureaucrats in Japan

  Kentaro Asai; Kei Kawai; Jun Nakabayashi

  Journal of Economic Behavior & Organization, Jun. 2021, Peer-reviewed, Corresponding author

  
• Limited liability and corporate efficiency

  Kentaro Asai

  International Review of Law and Economics, Jun. 2020, Peer-reviewed, Corresponding author

  
• A dynamic analysis of misconduct in contemporary social context

  Tatsuhiko Inatani; Kentaro Asai

  Japan Law and Economics Association, 2020

  
• Ownership networks may facilitate bid-rigging

  Kentaro Asai; Ben Charoenwong

  SSRN Electronic Journal, 2018

  
• Trading experience modulates anterior insula to reduce the endowment effect

  Lester C. P. Tong; Karen J. Ye; Kentaro Asai; Seda Ertac; John A. List; Howard C. Nusbaum; Ali Hortaçsu

  Proceedings of the National Academy of Sciences, 16 Aug. 2016, Peer-reviewed

  

Misc.

• Money Changes Everything: How Finance Made Civilization Possible, by William N. Goetzmann (Princeton University Press, Princeton, NJ, 2016), pp. 584.

  Kentaro Asai

  2017, Invited

  

Presentations

• Ownership Networks and Bid Rigging

  Kentaro Asai

  European Association for Research in Industrial Economics, 2024

  
• Ownership Networks and Bid Rigging

  Kentaro Asai

  Asia Meeting of the Econometric Society, East & Southeast Asi, 2024

  
• Opacity, Signaling, and Bail-Ins

  Kentaro Asai

  Summer Workshop on Money, Banking, Payments, and Finance, 2023

  
• Opacity, Signaling, and Bail-Ins

  Kentaro Asai

  Hitotsubashi University HUB-FS Program Seminar, 2023, Invited

  
• Opacity, Signaling, and Bail-Ins

  Kentaro Asai

  University of Sydney Finance Research Seminar, 2023, Invited

  
• Debt-Equity Conflicts and Efficiency of Distressed Firms: Evidence from Japanese Banker-Directors

  Kentaro Asai

  Australian National University RSFAS Summer Camp, 2022

  
• Incomplete Information, Self Confidence, and Positive Sorting

  Kentaro Asai

  Econometric Society Asian Meeting, 2022

  
• Common Lender, Ex-Banker Director, and Corporate Investment

  Kentaro Asai

  Conference on Empirical Legal Studies, University of Virginia, 2022

  
• Anticompetitive Common Ownership: Evidence from Singapore

  Kentaro Asai

  Kyushu University ASCOLA Asia Workshop, 2021, Invited

  
• Common Lender, Ex-Banker Director, and Corporate Investment

  Kentaro Asai

  FIRN Annual Conference, 2021

  
• Common Lender, Ex-Banker Director, and Corporate Investment

  Kentaro Asai

  Queensland University of Technology School of Economics and Finance Seminar, 2021, Invited

  
• Common Lender, Ex-Banker Director, and Corporate Investment

  Kentaro Asai

  Financial Intermediation Research Society Annual Conference, 2021

  
• A Dynamic Analysis of Misconduct in Contemporary Social Context

  Tatsuhiko Inatani; Kentaro Asai

  Japan Law and Economics Association, 2020

  
• Common Lender, Ex-Banker Director, and Corporate Investment

  Kentaro Asai

  Reserve Bank of Australia Seminar, 2020, Invited

  
• Ownership Networks and Bid Rigging

  Kentaro Asai

  Hitotsubashi University HUB-FS program Seminar, 2019, Invited

  
• Ownership Networks and Bid Rigging

  Kentaro Asai

  Asia Pacific Industrial Organization Conference, 2019

  
• Ownership Networks and Bid Rigging

  Kentaro Asai

  University of Tokyo Microeconomic Workshop, 2019, Invited

  
• Ownership Networks and Bid Rigging

  Kentaro Asai

  Econometric Society Australasian Meeting, 2019

  
• Bank Lobbying as a Financial Safety Net: Evidence from the Postcrisis U.S. Banking Sector

  Kentaro Asai

  International Association for Applied Econometrics Annual Conference, 2019

  
• Prudence in the Absence of Liability: Theory and Evidence

  Kentaro Asai

  Econometric Society Australasian Meeting, 2018

  
• Bank Lobbying as a Financial Safety Net: Evidence from the Postcrisis U.S. Banking Sector

  Kentaro Asai

  Deakin University Department of Finance Seminar, 2018, Invited

  
• Bank Lobbying as a Financial Safety Net: Evidence from the Postcrisis U.S. Banking Sector

  Kentaro Asai

  Keio Economic Society Seminar, 2018, Invited

  
• Bank Lobbying as a Financial Safety Net: Evidence from the Postcrisis U.S. Banking Sector

  Kentaro Asai

  Monash University Banking and Finance Group Seminar, 2018, Invited

  
• A Positive Theory for Entrepreneurial Limited Liability

  Kentaro Asai

  Australian Law and Economics Association Annual Meeting, 2017

  
• Bank Lobbying as a Financial Safety Net: Evidence from the Postcrisis U.S. Banking Sector

  Kentaro Asai

  Edinburgh Corporate Finance Conference, 2017

  
• Bank Lobbying as a Financial Safety Net: Evidence from the Postcrisis U.S. Banking Sector

  Kentaro Asai

  SFS Cavalcade Asia Pacific, 2017

  
• Regulatory Capture and Public Procurement: Evidence from Revolving Door Bureaucrats in Japan

  Kentaro Asai

  Joint Meeting of the Asian Political Methodology Group and the Australian Society for Quantitative Political Science, 2017

  
• 関係機関の分業と協業

  淺井 顕太郎

  京都産業大学社会安全・警察学研究所研究会, 2017, Invited

  
• Financial Expertise and Economic Wisdom: The Endowment Effect

  Kentaro Asai; Lester C.P. Tong

  University of Chicago Wisdom Research Forum, 2014, Invited

  
• Is Capping Executive Bonuses Useful?

  Kentaro Asai

  International Monetary Fund Monetary and Capital Markets Department Policy Forum, 2014, Invited

  

Books and Other Publications

• Corporate finance and capital structure : A theoretical introduction

  Kentaro Asai

  Routledge, 2021

  Find Kyoto University's collection of books :

  
• Is capping executive bonuses useful?

  Kentaro Asai

  International Monetary Fund, 2016

  Find Kyoto University's collection of books :

  
• Global Financial Stability Report Chapter 3. Risk taking by banks: The role of governance and executive pay

  Luis Brandão Marques; S. Erik Oppers; Isabella Araújo Ribeiro; Kentaro Asai; Jonathan Beauchamp; Pragyan Deb; Nombulelo Duma; Johannes Ehrentraud; Oksana Khadarina; Ashraf Khan; Antonio Pancorbo; Ceyla Pazarbaşıoğlu; Rohan Singh; Oliver Wuensch

  International Monetary Fund, Oct. 2014

  Find Kyoto University's collection of books :

  

Media Coverage

• Identical Bids by Linked Owners Can Mean Higher Prices in Govt Tenders

  SPH Media, The Business Times, https://www.businesstimes.com.sg/international/identical-bids-linked-owners-can-mean-higher-prices-govt-tenders, 2019

  
• 天下り、工事落札に影響 1人受け入れ0.7ポイント上昇

  日本経済新聞社, 日本経済新聞, https://www.nikkei.com/article/DGXLASDG20H6D_R20C17A2CC0000/, 2017

  
• Trading Changes How Brain Processes Selling Decisions

  University of Chicago, Uchicago News, https://news.uchicago.edu/story/trading-changes-how-brain-processes-selling-decisions, 2016

  
• IMF Calls for Shake-Up of Bank Executive Pay

  Nikkei, Financial Times, https://www.ft.com/content/a06598d4-4962-11e4-8d68-00144feab7de, 2014

  

External funds: Kakenhi

• Identification of Factors Leading to Corporate Misconduct Using High-Frequency Data

  Fund for the Promotion of Joint International Research (Home-Returning Researcher Development Research)

  Social Sciences

  Kyoto University

  淺井 顕太郎;アサイ 顕太郎

  From 20 Feb. 2024, To 31 Mar. 2027, Granted

  高頻度データ;談合;企業不正

  https://kaken.nii.ac.jp/grant/KAKENHI-PROJECT-23K20045/

Education

Teaching subject(s)

• From 01 Apr. 2024, To 31 Mar. 2025

  Law and Economics - Special Seminar

  B850, Year-long, Graduate School of Law, 4
• From 01 Apr. 2024, To 31 Mar. 2025

  Introduction to Microeconomics

  1145, Fall, Faculty of Law, 2
• From 01 Apr. 2024, To 31 Mar. 2025

  An Introduction to Economics for Lawyers

  4060, Fall, Graduate School of Law, 2
• From 01 Apr. 2024, To 31 Mar. 2025

  Economic Analysis of Law

  4100, Fall, Graduate School of Law, 2

Participation in PhD Defenses (other than KU)

• Diego Puente Moncayo, Australian National University, Australia, Sub-chief Examiner

  2019
• Guangqian Pan, Australian National University, Australia, Sub-chief Examiner

  2018

Student achievements: Awards

• Best PhD Paper at International Finance and Banking Society Conference, University of Oxford (2017)

  Diego Puente Moncayo, International Finance and Banking Society

Academic, Social Contribution

Academic Contribution

• Financial Intermediation Research Society

  Planning, management, etc.

  From 2021

  
• Asian Finance Association

  Planning, management, etc.

  From 2018

  
• Asian-Pacific Economic Literature

  Peer review

  
• Financial Innovation

  Peer review

  
• International Review of Law and Economics

  Peer review

  
• Springer Nature

  Peer review

  
• Routledge

  Peer review

  
• Journal of Corporate Finance

  Peer review

  
• Economic Inquiry

  Peer review

  
• Australian Journal of Management

  Peer review

  
• Journal of Banking and Finance

  Peer review

  
• Review of Industrial Organization

  Peer review

  
• Journal of Political Economy

  Peer review