Graduate School of Advanced Integrated Studies in Human Survivability (GSAIS), Department of Advanced Integrated Studies in Human Survivability Associate Professor
His research interests cover commodity finance, energy finance, sustainable finance, risk management, asset pricing, real options, weather derivatives, ESG investing, electricity markets, and carbon markets.
Overview of the research
Based on the theory of finance, I conduct research to solve global issues in commodity markets, energy markets, carbon markets and sustainable investment. Specifically, in addition to the research on energy and carbon market risk management, I am interested in research on the effectiveness of sustainable finance such as clean energy investment, green bond and ESG investment.
Research Areas
Humanities & social sciences, Money and finance
Papers
Are sustainability and credit quality beneficial to financial and energy portfolio diversification with bond ETFs?
Takashi Kanamura
International Journal of Theoretical and Applied Finance, 25 Nov. 2025, Peer-reviewed
Carbon pricing and energy greenflation over COVID-19
Takashi Kanamura
Journal of Environmental Management, Nov. 2025, Peer-reviewed
Sustainability arbitrage pricing of ESG derivatives
Takashi Kanamura
International Review of Financial Analysis, Aug. 2025, Peer-reviewed
A quantitative model of sustainability risk in finance
Takashi Kanamura
Journal of Commodity Markets, Mar. 2025, Peer-reviewed
Risk valuations and investment strategies of wave power generation in the ocean and marginal sea
Keiji Sakakibara; Takashi Kanamura
Development and Sustainability in Economics and Finance, Jan. 2025, Peer-reviewed
Stochastic behavior of green bond premiums
Takashi Kanamura
International Review of Financial Analysis, Dec. 2024, Peer-reviewed
Portfolio diversification and sustainable assets from new perspectives
Takashi Kanamura
Journal of Asset Management, Nov. 2023, Peer-reviewed
A difference in COVID-19 impact on bank stocks between Japan and the US
Takashi Kanamura
SN Business & Economics, Jun. 2023, Peer-reviewed
An impact assessment of the COVID-19 pandemic on Japanese and US hotel stocks
Takashi Kanamura
Financial Innovation, 08 May 2023, Peer-reviewed
Electricity price spike formation and LNG price effect under gross bidding scheme in JEPX
Rassi Samin; Takashi Kanamura
Energy Policy, Apr. 2023, Peer-reviewed
Clean energy and (E)SG investing from energy and environmental linkages
Takashi Kanamura
Environment, Development and Sustainability, 03 Aug. 2022, Peer-reviewed
Role of crude oil futures in financial portfolios under financialization
Takashi Kanamura
The Journal of Alternative Investments, 02 Mar. 2022, Peer-reviewed
Market making and electricity price formation in Japan
Takashi Kanamura; Derek W. Bunn
Energy Economics, Mar. 2022, Peer-reviewed
Pricing analysis of wind power derivatives for renewable energy risk management
Takashi Kanamura; Lasse Homann; Marcel Prokopczuk
Applied Energy, Dec. 2021, Peer-reviewed
Timing differences in the impact of Covid-19 on price volatility between assets
Takashi Kanamura
Finance Research Letters, Sep. 2021, Peer-reviewed
Risk mitigation and return resilience for high yield bond ETFs with ESG components
Takashi Kanamura
Finance Research Letters, Nov. 2020, Peer-reviewed
Risk of temperature differences in geothermal wells and generation strategies of geothermal power
Keiji Sakakibara; Takashi Kanamura
Green Finance, Nov. 2020, Peer-reviewed
Volumetric risk hedging strategies and basis risk premium for solar power
Takashi Kanamura
The Journal of Alternative Investments, 05 May 2020, Peer-reviewed
Are green bonds environmentally friendly and good performing assets?
Takashi Kanamura
Energy Economics, May 2020, Peer-reviewed
A model of price correlations between clean energy indices and energy commodities
Takashi Kanamura
Journal of Sustainable Finance and Investment, 2020, Peer-reviewed
Examining risk and return profiles of renewable energy investment in developing countries: the case of the Philippines
Phoebe Grace Saculsan; Takashi Kanamura
Green Finance, 2020, Peer-reviewed
Supply-side perspective for carbon pricing
Takashi Kanamura
Quantitative Finance and Economics, Mar. 2019, Peer-reviewed
Diversification effect of commodity futures on financial markets
Takashi Kanamura
Quantitative Finance and Economics, Oct. 2018, Peer-reviewed
An operational risk-based regime-switching model for stock prices
Takashi Kanamura
Journal of Operational Risk, 01 Sep. 2017, Peer-reviewed
Role of carbon swap trading and energy prices in price correlations and volatilities between carbon markets
Takashi Kanamura
Energy Economics, Feb. 2016, Peer-reviewed
The role of incompleteness in commodity futures markets
Takashi Kanamura
Frontiers in Applied Mathematics and Statistics (Mathematical Finance)/Frontiers, Oct. 2015, Peer-reviewed
A Supply-and-Demand Based Price Model for Financial Assets
Takashi Kanamura
The Journal of Investment Strategies, Mar. 2015, Peer-reviewed
Dynamic price linkage and volatility structure model between carbon markets
Takashi Kanamura
Springer Proceedings in Mathematics and Statistics, 2015, Peer-reviewed
A Structural Linkage Model for Freight Rates
Takashi Kanamura
The Journal of Energy Markets, Sep. 2014, Peer-reviewed
Financial turmoil in carbon markets
Takashi Kanamura
Journal of Alternative Investments, Dec. 2013, Peer-reviewed
Comparison of futures pricing models for carbon assets and traditional energy commodities
Takashi Kanamura
Journal of Alternative Investments, Dec. 2012, Peer-reviewed
A profit model for spread trading with an application to energy futures
Takashi Kanamura; Svetlozar T Rachev; Frank J Fabozzi
The Journal of Trading, 2010, Peer-reviewed
A supply and demand based volatility model for energy prices
Takashi Kanamura
ENERGY ECONOMICS, Sep. 2009, Peer-reviewed
Pricing summer day options by good-deal bounds
Takashi Kanamura; Kazuhiko Ohashi
ENERGY ECONOMICS, Mar. 2009, Peer-reviewed
Monitoring the upsurge of biofuels in commodity futures markets
Takashi Kanamura
The ICFAI Journal of Derivatives Markets, Jan. 2009, Peer-reviewed, Invited
Modeling, risk assessment and portfolio optimization of energy futures
Almira Biglova; Takashi Kanamura; Svetlozar T. Rachev; Stoyan Stoyanov
Investment Management and Financial Innovations, May 2008, Peer-reviewed
On transition probabilities of regime switching in electricity prices
Takashi Kanamura; Kazuhiko Ohashi
ENERGY ECONOMICS, May 2008, Peer-reviewed
A structural model for electricity prices with spikes: Measurement of spike risk and optimal policies for hydropower plant operation
Takashi Kanamura; Kazuhiko Ohashi
ENERGY ECONOMICS, Sep. 2007, Peer-reviewed
天候デリバティブによる電力会社のリスク管理
大橋 和彦; 金村 宗
先物取引研究, Dec. 2006
Wind-induced vibration of cables of cable-stayed bridges
M Matsumoto; Y Daito; T Kanamura; Y Shigemura; S Sakuma; H Ishizaki
JOURNAL OF WIND ENGINEERING AND INDUSTRIAL AERODYNAMICS, Apr. 1998, Peer-reviewed
Response Characteristics of Cables of Cable-Stayed Bridges with Various Structural Damping and Shape
SHIGEMURA Yoshinori; MATSUMOTO Masaru; SHIRATO Hiromichi; DITO Yoshiyuki; KANAMURA Takashi
A Supply and Demand Based Energy Pricing Model (In Marcel Prokopczuk, ed.: Energy Pricing Models: Recent Advances, Methods, and Tools)
Takashi Kanamura, Contributor
Palgrave Macmillan, Dec. 2014, Not refereed
list
Last Updated :2025/11/28
Education
Teaching subject(s)
From 01 Apr. 2025, To 31 Mar. 2026
ILAS Seminar
Z001, Spring, Institute for Liberal Arts and Sciences, 2
From 01 Apr. 2025, To 31 Mar. 2026
Introduction to Human Survivability Studies II
Y409, Fall, Institute for Liberal Arts and Sciences, 2
From 01 Apr. 2025, To 31 Mar. 2026
Introduction to Advanced and Integrated Studies in Human Sur vivability (Sustainability)
M630, Spring, Institute for Liberal Arts and Sciences, 2
From 01 Apr. 2025, To 31 Mar. 2026
Energy Finance
M127, Spring, Institute for Liberal Arts and Sciences, 2
From 01 Apr. 2025, To 31 Mar. 2026
Risk Management
4030, Fall, Graduate School of Advanced Integrated Studies in Human Survivability, 2
From 01 Apr. 2025, To 31 Mar. 2026
Energy Finance
4029, Spring, Graduate School of Advanced Integrated Studies in Human Survivability, 2
From 01 Apr. 2025, To 31 Mar. 2026
Introduction to Advanced and Integrated Studies in Human Survivability
1001, Spring, Graduate School of Advanced Integrated Studies in Human Survivability, 2
From 01 Apr. 2025, To 31 Mar. 2026
Introduction to Advanced and Integrated Studies in Human Survivability (Sustainability)
9010, Spring, Graduate School of Advanced Integrated Studies in Human Survivability, 2
From 01 Apr. 2025, To 31 Mar. 2026
Juku-giB
5004, Fall, Graduate School of Advanced Integrated Studies in Human Survivability, 2
From 01 Apr. 2025, To 31 Mar. 2026
Juku-giA
5003, Spring, Graduate School of Advanced Integrated Studies in Human Survivability, 2
From 01 Apr. 2024, To 31 Mar. 2025
ILAS Seminar
Z001, Spring, Institute for Liberal Arts and Sciences, 2
From 01 Apr. 2024, To 31 Mar. 2025
Introduction to Human Survivability Studies II
Y409, Fall, Institute for Liberal Arts and Sciences, 2
From 01 Apr. 2024, To 31 Mar. 2025
Juku-giA
5003, Spring, Graduate School of Advanced Integrated Studies in Human Survivability, 2
From 01 Apr. 2024, To 31 Mar. 2025
Risk Management
4030, Fall, Graduate School of Advanced Integrated Studies in Human Survivability, 2
From 01 Apr. 2024, To 31 Mar. 2025
Energy Finance
4029, Spring, Graduate School of Advanced Integrated Studies in Human Survivability, 2
From 01 Apr. 2024, To 31 Mar. 2025
Juku-giB
5004, Fall, Graduate School of Advanced Integrated Studies in Human Survivability, 2
From 01 Apr. 2024, To 31 Mar. 2025
Introduction to Advanced and Integrated Studies in Human Survivability
1001, Spring, Graduate School of Advanced Integrated Studies in Human Survivability, 2
From 01 Apr. 2023, To 31 Mar. 2024
ILAS Seminar
Z001, Spring, Institute for Liberal Arts and Sciences, 2
From 01 Apr. 2023, To 31 Mar. 2024
Juku-giB
5004, Fall, Graduate School of Advanced Integrated Studies in Human Survivability, 2
From 01 Apr. 2023, To 31 Mar. 2024
Juku-giA
5003, Spring, Graduate School of Advanced Integrated Studies in Human Survivability, 2
From 01 Apr. 2023, To 31 Mar. 2024
Risk Management
4030, Fall, Graduate School of Advanced Integrated Studies in Human Survivability, 2
From 01 Apr. 2023, To 31 Mar. 2024
Energy Finance
4029, Spring, Graduate School of Advanced Integrated Studies in Human Survivability, 2
From 01 Apr. 2023, To 31 Mar. 2024
Introduction to Advanced and Integrated Studies in Human Survivability
1001, Spring, Graduate School of Advanced Integrated Studies in Human Survivability, 2
From 01 Apr. 2022, To 31 Mar. 2023
ILAS Seminar
Z001, Spring, Institute for Liberal Arts and Sciences, 2
From 01 Apr. 2022, To 31 Mar. 2023
Risk Management
4030, Fall, Graduate School of Advanced Integrated Studies in Human Survivability, 2
From 01 Apr. 2022, To 31 Mar. 2023
Juku-giB
5004, Fall, Graduate School of Advanced Integrated Studies in Human Survivability, 2
From 01 Apr. 2022, To 31 Mar. 2023
Energy Finance
4029, Spring, Graduate School of Advanced Integrated Studies in Human Survivability, 2
From 01 Apr. 2022, To 31 Mar. 2023
Introduction to Advanced and Integrated Studies in Human Survivability
1001, Spring, Graduate School of Advanced Integrated Studies in Human Survivability, 2
From 01 Apr. 2022, To 31 Mar. 2023
Juku-giA
5003, Spring, Graduate School of Advanced Integrated Studies in Human Survivability, 2
From Apr. 2015, To Mar. 2016
Science for Solving Global Issues
Spring, 全学共通科目
From Apr. 2015, To Mar. 2016
Energy Finance
Spring, 総合生存学館
From Apr. 2015, To Mar. 2016
Risk Management
Fall, 総合生存学館
From Apr. 2016, To Mar. 2017
ILAS Seminar
Spring, 全学共通科目
From Apr. 2016, To Mar. 2017
Special Research Seminar I
Year-long, 総合生存学館
From Apr. 2016, To Mar. 2017
Special lectures and discussion for leadership (Juku-gi)II
Year-long, 総合生存学館
From Apr. 2016, To Mar. 2017
Special lectures and discussion for leadership (Juku-gi)I
Year-long, 総合生存学館
From Apr. 2016, To Mar. 2017
Energy Finance
Spring, 総合生存学館
From Apr. 2016, To Mar. 2017
Risk Management
Fall, 総合生存学館
From Apr. 2017, To Mar. 2018
ILAS Seminar
Spring, 全学共通科目
From Apr. 2017, To Mar. 2018
Special Research Seminar I
Year-long, 総合生存学館
From Apr. 2017, To Mar. 2018
Special lectures and discussion for leadership (Juku-gi)II
Year-long, 総合生存学館
From Apr. 2017, To Mar. 2018
Special lectures and discussion for leadership (Juku-gi)I
Year-long, 総合生存学館
From Apr. 2017, To Mar. 2018
Energy Finance
Spring, 総合生存学館
From Apr. 2017, To Mar. 2018
Risk Management
Fall, 総合生存学館
From Apr. 2018, To Mar. 2019
ILAS Seminar
Spring, 全学共通科目
From Apr. 2018, To Mar. 2019
Juku-giA
Spring, 総合生存学館
From Apr. 2018, To Mar. 2019
Juku-giB
Fall, 総合生存学館
From Apr. 2018, To Mar. 2019
Special lectures and discussion for leadership (Juku-gi)II
Year-long, 総合生存学館
From Apr. 2018, To Mar. 2019
Introduction to Advanced and Integrated Studies in Human Survivability
Spring, 総合生存学館
From Apr. 2018, To Mar. 2019
Energy Finance
Spring, 総合生存学館
From Apr. 2018, To Mar. 2019
Risk Management
Fall, 総合生存学館
From Apr. 2019, To Mar. 2020
ILAS Seminar
Spring, 全学共通科目
From Apr. 2019, To Mar. 2020
Juku-giA
Spring, 総合生存学館
From Apr. 2019, To Mar. 2020
Juku-giB
Fall, 総合生存学館
From Apr. 2019, To Mar. 2020
Special lectures and discussion for leadership (Juku-gi)II
Year-long, 総合生存学館
From Apr. 2019, To Mar. 2020
Introduction to Advanced and Integrated Studies in Human Survivability
Spring, 総合生存学館
From Apr. 2019, To Mar. 2020
Energy Finance
Spring, 総合生存学館
From Apr. 2019, To Mar. 2020
Risk Management
Fall, 総合生存学館
From Apr. 2020, To Mar. 2021
ILAS Seminar :Sustainable Finance
Spring, 全学共通科目
From Apr. 2020, To Mar. 2021
Juku-giA
Spring, 総合生存学館
From Apr. 2020, To Mar. 2021
Juku-giB
Fall, 総合生存学館
From Apr. 2020, To Mar. 2021
Special lectures and discussion for leadership (Juku-gi)II
Year-long, 総合生存学館
From Apr. 2020, To Mar. 2021
Introduction to Advanced and Integrated Studies in Human Survivability
Spring, 総合生存学館
From Apr. 2020, To Mar. 2021
Energy Finance
Spring, 総合生存学館
From Apr. 2020, To Mar. 2021
Risk Management
Fall, 総合生存学館
From Apr. 2021, To Mar. 2022
ILAS Seminar :Sustainable Finance
Spring, 全学共通科目
From Apr. 2021, To Mar. 2022
Juku-giA
Spring, 総合生存学館
From Apr. 2021, To Mar. 2022
Juku-giB
Fall, 総合生存学館
From Apr. 2021, To Mar. 2022
Introduction to Advanced and Integrated Studies in Human Survivability
Spring, 総合生存学館
From Apr. 2021, To Mar. 2022
Energy Finance
Spring, 総合生存学館
From Apr. 2021, To Mar. 2022
Risk Management
Fall, 総合生存学館
Participation in PhD Defense
A Study on Corporate Environmental Behavior toward Sustainability: Motivations, Benefits and Challenges of ISO 14001 Adoption at Japanese Subsidiaries in Thailand
HIRATA REO, Graduate School of Advanced Integrated Studies in Human Survivability, Sub-chief Examiner
24 Sep. 2024
Quantitative Risk Valuations and Investment Strategies of Renewable Energy under Uncertainty
SAKAKIBARA KEIJI, Graduate School of Advanced Integrated Studies in Human Survivability, Chief Examiner
25 Mar. 2024
From Adaptations to Creating Resilience for Disasters: A Case Study of Water-Related Disaster-Prone Area Ratnapura City in Sri Lanka
TSUCHIDA RYO, Graduate School of Advanced Integrated Studies in Human Survivability, Chief Examiner
25 Sep. 2023
list
Last Updated :2025/11/28
Administration
School management (title, position)
From 01 Apr. 2024, To 31 Mar. 2026
京都大学大学院教育支援機構SPRINGプログラム 環境・エネルギー・複合分野選考委員会 委員
From 01 Apr. 2023, To 31 Mar. 2025
京都大学教務事務電算管理運営委員会 委員
From 01 Oct. 2014
点検・評価実行委員会 委員
From 01 Oct. 2014
大学評価委員会点検・評価実行委員会 委員
From 01 Apr. 2016, To 31 Mar. 2017
教職教育委員会教職科目連絡小委員会 委員
From 01 Oct. 2014, To 31 Mar. 2018
大学評価委員会点検・評価実行委員会 委員
From 01 Apr. 2019, To 31 Mar. 2021
学生総合支援センター管理運営委員会 委員
From 01 Apr. 2019, To 31 Mar. 2020
教職教育委員会教職科目連絡小委員会 委員
From 01 Oct. 2018
国際教育委員会企画運営委員会USRN小委員会 委員
From 01 Apr. 2019, To 31 Mar. 2020
京都大学教職教育委員会教職科目連絡小委員会 委員
From 01 Apr. 2021, To 31 Mar. 2023
京都大学教務事務電算管理運営委員会 委員
Faculty management (title, position)
From 01 Apr. 2025, To 31 Mar. 2026
総合生存学館企画・広報委員会委員
From 01 Apr. 2025, To 31 Mar. 2026
総合生存学館企画・広報委員会 自己点検・評価委員会委員
From 01 Apr. 2025, To 31 Mar. 2026
総合生存学館教務・国際委員会 入試専門委員会委員
From 01 Apr. 2024, To 31 Mar. 2025
総合生存学館思修館プログラム委員会委員
From 01 Apr. 2024, To 31 Mar. 2025
総合生存学館自己点検・評価委員会委員
From 01 Apr. 2023, To 31 Mar. 2024
総合生存学館入試委員会委員
From 01 Apr. 2023, To 31 Mar. 2024
総合生存学館企画委員会委員
From 01 Apr. 2023, To 31 Mar. 2024
総合生存学館財務委員会委員
From 01 Apr. 2023, To 31 Mar. 2024
総合生存学館教務委員会副委員長
From 01 Apr. 2023, To 31 Mar. 2024
総合生存学館将来計画委員会委員
From 01 Apr. 2022, To 31 Mar. 2023
総合生存学館将来計画委員会委員
From 01 Apr. 2022, To 31 Mar. 2023
総合生存学館教務委員会副委員長
From 01 Apr. 2021, To 31 Mar. 2023
総合生存学館自己点検・評価委員会委員
From 01 Apr. 2021, To 31 Mar. 2022
総合生存学館教務委員会委員長
From 01 Apr. 2020, To 31 Mar. 2023
総合生存学館財務委員会副委員長
From 01 Apr. 2020, To 31 Mar. 2023
総合生存学館企画委員会委員
From 01 Apr. 2019, To 31 Mar. 2023
総合生存学館入試委員会委員
From 01 Apr. 2017, To 31 Mar. 2023
総合生存学館思修館プログラム委員会委員
From 01 Apr. 2019, To 31 Mar. 2021
総合生存学館教務委員会委員
From 01 Apr. 2019, To 31 Mar. 2020
総合生存学館自己点検・評価委員会副委員長
From 01 Apr. 2019, To 31 Mar. 2020
総合生存学館国際委員会委員
From 01 Apr. 2019, To 31 Mar. 2020
吉田南総合図書館運営委員会委員
From 01 Apr. 2017, To 31 Mar. 2020
総合生存学館財務委員会委員
From 01 Apr. 2018, To 31 Mar. 2019
総合生存学館企画委員会委員
From 01 Apr. 2018, To 31 Mar. 2019
総合生存学館入試委員会副委員長
From 01 Apr. 2017, To 31 Mar. 2019
総合生存学館教務委員会副委員長
From 01 Apr. 2017, To 31 Mar. 2018
総合生存学館入試委員会委員
From 01 Apr. 2017, To 31 Mar. 2018
総合生存学館ELP運営委員会委員
From 01 Apr. 2020
吉田南総合図書館協議会協議員
list
Last Updated :2025/11/28
Academic, Social Contribution
Committee Memberships
From Mar. 2025, To Present
Humanities and Social Sciences Communications (Nature Portfolio) Editorial Board Member
From Nov. 2022, To Present
Management & Marketing (Sciendo, the De Gruyter Group) Associate Editor
From Jan. 2018, To Present
Energy Sources, Part B: Economics, Planning, and Policy (Taylor &Francis) Editorial Advisory Board Member
From Apr. 2015, To Present
Journal of Energy Markets (Incisive Media) Associate Editor
From Nov. 2024, To Present
International Review of Financial Analysis (Elsevier) Associate Editor
From May 2015, To Present
Journal of Commodity Markets (Elsevier) Associate Editor