Personnel Information

写真b

OKADA Katsuhiko

Title
Professor
Laboratory Address
1-1-155 Uegahara Nishinomiya Hyogo Japan
Research Fields, Keywords
Behavioral Finance, Machine Learning, Asset Pricing Models, Information Efficiency in the Stock Market
Research Outline
My primary interest is in the field of asset pricing. Particularly interested in how stock market return / return distribution is affected by the psychological factors. Traditionally, financial economists assumed professional investors are rational; therefore, the stock market remains rational for most of the times. In reality, all humans can be irrational at times, and there are many cases where market pricing is far from rational. We are building asset pricing models to incorporate such effects. For some of the promising models, we test them in the real stock market. This is possible thanks to our close cooperation with Magne-Max Capital Management Co. Ltd, an investment advisory firm.

Graduate School 【 display / non-display

  • Graduate school:Kobe University
    Graduate course:Graduate School, Division of Administration
    Major:Finance

    Course completed:Doctor's Course
    Date of completion:2006.03
    Completion status:Completed
    Country location code:JAPAN

  • Graduate school:Washington University
    Graduate course:John M. Olin School of Business

    Course completed:Master's Course
    Date of completion:1990.05
    Completion status:Completed
    Country location code:UNITED STATES

Degree 【 display / non-display

  • Degree name:PhD (Finance)
    Classified degree field:Finance
    Degree awarding institution:Kobe University
    Acquisition way:Coursework
    Date of acquisition:2006.03

  • Degree name:MBA
    Classified degree field:Money/ Finance
    Degree awarding institution:Washington University in St. Louis
    Acquisition way:Coursework
    Date of acquisition:1990.05

Campus Career 【 display / non-display

  • Job function organization:Kwansei Gakuin University Institute of Business and Accounting Business School
    Career:Professor
    Duties period:2005.04 -

External Career 【 display / non-display

  • Name of affiliation:Halberdier Capital Management Singapore Pte. Ltd.
    Career:Co-founder / Director
    Periods of career:1996.07 - 2001.04

  • Name of affiliation:UBS Investment Bank Tokyo
    Department of affiliation:Equity Derivatives
    Career:FVP
    Periods of career:1992.10 - 1996.06

  • Name of affiliation:Morgan Stanley New York
    Department of affiliation:International Arbitrage
    Career:Trader
    Periods of career:1990.05 - 1992.10

Academic Society Affiliations 【 display / non-display

  • Affiliated academic society:Japan Finance Association

    Academic country located:JAPAN

  • Affiliated academic society:Western Finance Asscociation

    Academic country located:UNITED STATES

  • Affiliated academic society:American Finance Association

    Academic country located:UNITED STATES

Field of expertise (Grants-in-aid for Scientific Research classification) 【 display / non-display

  • Field of expertise (Grants-in-aid for Scientific Research classification):Management

  • Field of expertise (Grants-in-aid for Scientific Research classification):Money/ Finance

 

Papers 【 display / non-display

  • Written language: English
    Title of paper: Image based price trends in the Japanese stock market: Portfolio choice based on Convolutional Neural Network
    Publication title: Behavioral Economics Conference, Proceedings
    Date of issue: 2022.11
    Name of author(s): 中筋 萌, 羽室 行信, 岡田 克彦

    Type of publication: Research paper (international conference proceedings)
    Co-author classification: Joint Work
    Field of experts (Grants-in-aid for Scientific Research classification):Management

  • Written language: English
    Title of paper: Is No News Good News? :The Streaming News Effect on Investor Behavior surrounding Analyst Stock Revision Announcement
    Publication title: International Review of Finance  vol.14  (p.29 - 51)
    Date of issue: 2014.03
    Name of author(s): with Takahiro Azuma, Yukinobu Hamuro

    Type of publication: Research paper (scientific journal)
    Co-author classification: Joint Work
    Field of experts (Grants-in-aid for Scientific Research classification):Money/ Finance

  • Written language: English
    Title of paper: The Calendar Structure of the Japanese Stock Market: The "Sell in May Effect" versus the "Dekansho-bushi Effect"
    Publication title: International Review of Finance  vol.Vol 13  (Issue 2)  (p.161 - 185)
    Date of issue: 2013.06
    Name of author(s): OKADA Katsuhiko

    Type of publication: Research paper (scientific journal)
    Co-author classification: Joint Work

  • Written language: English
    Title of paper: Predicting Noise Trader Behavior through Mining Newspaper Articles
    Publication title: Learning for Logics and Logics for Learning  (7th Workshop Osaka University)
    Date of issue: 2011.03
    Name of author(s): Katsuhiko Okada, Yukinobu Hamuro

    Type of publication: Research paper (scientific journal)
    Co-author classification: Joint Work

  • Written language: English
    Title of paper: Addition to the Nikkei 225 Index and Japanese Market Response:
    Publication title: Pacific-Basin Finance Journal  (Vol 14 Issue 4)
    Date of issue: 2006.08
    Name of author(s): OKADA Katsuhiko

    Type of publication: Research paper (scientific journal)
    Co-author classification: Joint Work

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Books 【 display / non-display

  • Written language: Japanese
    Book Title: Finance Data Analysis using Python
    Publisher's name: Asakura Shoten
    Date of issue: 2022.03
    Name of author(s): Katsuhiko Okada, Yukinobu Hamuro, Katsuhiko Muramiya, Hidenori Takahashi

    Type of books: Scholarly Book
    Form of book: Editor

  • Written language: Japanese
    Book Title: Behavioral Economics, Present and Future
    Publisher's name: Nihon Hyoronsha
    Date of issue: 2019.09
    Name of author(s): Takanori Ida, Katsuhiko Okada

    Type of books: Scholarly Book
    Form of book: Joint Editor
    Field of experts (Grants-in-aid for Scientific Research classification):Money/ Finance, Public finance/Public economy, Experimental psychology

  • Written language: Japanese
    Book Title: Investment strategy in 21st century
    Publisher's name: KODANSHA
    Date of issue: 2018.04
    Name of author(s): Katsuhiko Okada

    Type of books: Book (general)
    Form of book: Single Work
    Field of experts (Grants-in-aid for Scientific Research classification):Money/ Finance

  • Written language: Japanese
    Book Title: Encyclopedia on Artificial Intelligence
    Publisher's name: JSAI
    Date of issue: 2016.04
    Name of author(s): Katsuhiko Okada, Yukinobu Hamuro

    Type of books: Scholarly Book
    Form of book: Joint Work

  • Written language: English
    Book Title: The Routledge Handbook of Japanese Business and Management
    Publisher's name: Routledge
    Date of issue: 2016.01
    Name of author(s): Katsuhiko Okada

    Type of books: Scholarly Book
    Form of book: Single Work
    Field of experts (Grants-in-aid for Scientific Research classification):Management, Money/ Finance

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Review Papers,Investigation Report 【 display / non-display

  • Written language:Japanese
    Title of review paper:Experimental Finance
    Publisher's name :Securities Analyst Association of Japan
    Publication title:Securities Analyst Journal  vol.60  (08)  (p.2 - 5)
    Date of issue:2022.08
    Name of author(s):Katsuhiko Okada

    Type of publication:Introduction and explanation (bulletin of university, research institution)
    Co-author classification:Single Work
    Field of experts (Grants-in-aid for Scientific Research classification):Management

  • Written language:Japanese
    Title of review paper:Stock market non-participation puzzle in Japan
    Publisher's name :Securities Analyst Association of Japan
    Publication title:Securities Analyst Journal  vol.51  (11)  (p.56 - 62)
    Date of issue:2021.11
    Name of author(s):Katsuhiko Okada

    Type of publication:Introduction and explanation (scientific journal)
    Co-author classification:Single Work
    Field of experts (Grants-in-aid for Scientific Research classification):Management

Academic Awards Received 【 display / non-display

  • Prize: Securities Analyst Best Paper Award
    Date of award received:2014.10.05
    Country awarded:JAPAN
    Classification of award received:International Academic Awards
    Individual name or group of awards winner:Katsuhiko Okada, Masao Saeki
    Field of experts (Grants-in-aid for Scientific Research classification):Money/ Finance

  • Prize: 2004 Best Paper Award, Securities Analyst Journal
    Date of award received:2005.09.30
    Country awarded:JAPAN
    Classification of award received:Celebration by Official journal of a scientific society or Academic Journal
    Individual name or group of awards winner:Katsuhiko Okada
    Field of experts (Grants-in-aid for Scientific Research classification):Management, Money/ Finance

Grant-in-Aid for Scientific Research 【 display / non-display

  • Research item:Grant-in-Aid for Scientific Research(B)
    Research activities period:2021.04 - 2024.03

  • Research item:Grant-in-Aid for Scientific Research(B)
    Research activities period:2016.04 - 2019.03

  • Research item:Grant-in-Aid for Scientific Research(B)
    Research activities period:2013.04 - 2016.03

  • Research item:Grant-in-Aid for Scientific Research(C)
    Research activities period:2010.04 - 2013.03

Presentations 【 display / non-display

  • Presentation (Written) language: Japanese
    Conference Name: Industry Cluster Momentum in the Japanese Stock Market
    Conference classification: Internal meeting
    Meeting period: 2020.06
    Topic / Session title: Stock Market Factor and Machine Learning
    Form of presentation: Oral Presentation(general)

  • Presentation (Written) language: English
    Conference Name: 第7回行動経済学会 行動ファイナンス特別講演
    Conference classification: International conference
    Meeting period: 2013.12
    Topic / Session title: Seasonal Investor Overconfidence and the Stock Market Return
    Form of presentation: Oral Presentation(general)

  • Presentation (Written) language: English
    Conference Name: 大阪証券取引所 寄付研究部門セミナーシリーズ第41回
    Conference classification: International conference
    Meeting period: 2013.12
    Topic / Session title: Sentiment, News and the Stock Market Return
    Form of presentation: Oral Presentation(general)

  • Presentation (Written) language: English
    Conference Name: World Finance Conference in Cyprus
    Conference classification: International conference
    Meeting period: 2013.07
    Topic / Session title: Can Investors in the Stock Market Profit from the Analysts?
    Form of presentation: Oral Presentation(general)

  • Presentation (Written) language: English
    Conference Name: International Review of Finance
    Conference classification: International conference
    Meeting period: 2013.07
    Topic / Session title: The Streaming News Effect on InvestorBehavior surrounding Analyst Stock Revision Announcement
    Form of presentation: Oral Presentation(general)

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Academic Activity 【 display / non-display

  • Affiliated academic society:Japan Finance Association
    Position, Role:Vice President
    Period:2022.10 -

  • Affiliated academic society:Japan Finance Association
    Position, Role:Director
    Period:2016.10 - 2019.09

  • Affiliated academic society:Japan Finance Association
    Position, Role:Director
    Period:2013.10 - 2016.09

 

Recommended URL 【 display / non-display

  • Web site title:Magne-Max Capital Management

    URL:www.magne-max.com

    Classification of research field:Interdisciprinary Area