Faculty of Liberal Arts
Professor
Financial Markets and Corporate Finance
B.A., Sophia University
M.A., Osaka University
Ph.D., Hitotsubashi University
Email: nisaka[at]sophia.ac.jp
Tel: 03-3238-4059
Office: 10-543
My fields of research are financial markets and corporate finance. I am particularly interested in how private information, which is not disclosed to the public and is possessed by only a limited number of players (e.g., informed traders, fund managers, CEOs, and/or board members), affects the returns on financial assets and the firm’s corporate finance decisions. I have addressed these issues from both theoretical and empirical perspectives. I teach Principles of Macroeconomics, Money and Banking, Financial Management, and Topics in Finance for IBE students.
Journal Articles
・Naoto Isaka, 2017,“When Are Uninformed Boards Preferable?,”Pacific-Basin Finance Journal, 46, Part A, pp.191-211.
・Naoto Isaka, 2014, “Long-Run Effects of Minimum Trading Unit Reductions on Stock Prices,” International Review of Finance, 14 (1), pp. 75－103.
・Naoto Isaka, Kazuhiko Ohashi, 2011, “On Determinants of Swap Spreads in Japanese ABS Markets,” Sophia International Review 33, pp. 23-60.
・Naoto Isaka, Hiroshi Yoshikawa, 2009,“Changes in Minimum Trading Units and Stock Returns,” Gendai Finance (in Japanese), 25, pp. 3-22.
・Naoto Isaka, 2007,“On the Informational Effect of Short-Sales Constraints: Evidence from the Tokyo Stock Exchange,” Journal of Financial Research, 30 (4), pp. 455-471.
Faculty of Liberal Arts
Graduate Program in Global Studies