Yoshihisa Suzuki

Last Updated :2025/05/09

Affiliations, Positions
Graduate School of Humanities and Social Sciences, Professor
E-mail
suzuki3hiroshima-u.ac.jp
Self-introduction
My fundamental research interests are to apply such financial tools and methods as derivatives, i.e., option, futures and swaps, and portfolio theory to financial decision making including corporate valuation, valuation of the cost of capital, real option and risk analysis. Empirical works with financial data, market data or energy data describe my way of thinking for economic research.

Basic Information

Academic Degrees

  • Doctor of Economics, Hiroshima University
  • M.A., University of Rochester
  • Master of Economics, Yokohama National University

Educational Activity

  • [Bachelor Degree Program] School of Economics : Economics : Economic Analysis
  • [Bachelor Degree Program] School of Economics : Economics : Economics and Management
  • [Master's Program] Graduate School of Humanities and Social Sciences : Division of Humanities and Social Sciences : Economics Program
  • [Doctoral Program] Graduate School of Humanities and Social Sciences : Division of Humanities and Social Sciences : Economics Program

Research Fields

  • Social sciences;Economics;Money / Finance

Research Keywords

  • Inference|Financial Risk
  • Commodity|
  • Corporate Finance
  • Real Option
  • Estimation
  • Capital Market
  • Financial Technology
  • Series Method
  • Financial Prices

Educational Activity

Course in Charge

  1. 2025, Liberal Arts Education Program1, 3Term, Employment rules from hiring to retirement, pension system, and social insurance system
  2. 2025, Undergraduate Education, 1Term, Research Tutorial II
  3. 2025, Undergraduate Education, 2Term, Special Lectures(Investment and Asset Mnagement)
  4. 2025, Undergraduate Education, 3Term, Financial Economics 1A
  5. 2025, Undergraduate Education, 4Term, Financial Economics 1B
  6. 2025, Undergraduate Education, Year, Seminar
  7. 2025, Undergraduate Education, Year, Bachelor's Thesis
  8. 2025, Undergraduate Education, 3Term, Special Lectures (Topics in Life Insurance)1
  9. 2025, Undergraduate Education, 4Term, Special Lectures (Topics in Life Insurance)2
  10. 2025, Undergraduate Education, 1Term, Special Lectures (Topics in General Insurance)
  11. 2025, Undergraduate Education, 4Term, Special Lectures (Japan's finance, financial administration and regional economy)
  12. 2025, Undergraduate Education, 4Term, Special Lectures (Introduction to Financial Literacy)
  13. 2025, Undergraduate Education, 3Term, Special Lectures(Local Government in Action : the case of Higashihiroshima City)
  14. 2025, Graduate Education (Doctoral Program) , Second Semester, Project Research
  15. 2025, Graduate Education (Master's Program) , First Semester, Principles of Financial Economics
  16. 2025, Graduate Education (Master's Program) , Intensive, BOJ Lecture 2
  17. 2025, Graduate Education (Master's Program) , Year, FSA Lecture 2
  18. 2025, Graduate Education (Doctoral Program) , Year, Special Topics
  19. 2025, Graduate Education (Master's Program) , Year, Special Topics
  20. 2025, Graduate Education (Master's Program) , Year, Special Topics
  21. 2025, Graduate Education (Master's Program) , First Semester, Special Seminar on Economics Program I
  22. 2025, Graduate Education (Master's Program) , Second Semester, Special Seminar on Economics Program
  23. 2025, Graduate Education (Master's Program) , 1Term, Introduction to DX: Concept and Current Situation of DX
  24. 2025, Graduate Education (Master's Program) , 3Term, Information Compliance
  25. 2025, Graduate Education (Master's Program) , 1Term, Basics of Statistical Analysis
  26. 2025, Graduate Education (Master's Program) , 2Term, Basics of Machine Learning
  27. 2025, Graduate Education (Master's Program) , First Semester, Computational Social Science
  28. 2025, Graduate Education (Master's Program) , Second Semester, Text Analysis
  29. 2025, Graduate Education (Master's Program) , Second Semester, Econometrics
  30. 2025, Graduate Education (Master's Program) , Second Semester, Consumer Behavior Analysis
  31. 2025, Graduate Education (Master's Program) , 3Term, Practice of Data Analysis for Education and Social Data Science Programs I
  32. 2025, Graduate Education (Master's Program) , Year, Special Stady

Research Activities

Academic Papers

  1. High-speed rail construction, heterogeneity, and firm value in Chinese SMEs, Applied Economics Letters, 2025
  2. Ensemble Learning Algorithms based on Easyensemble Sampling for Financial Distress Prediction, Annals of Operations Research, 2025
  3. Economic Integration and Financial Inclusion: Evidence from Middle-Income Countries, The Journal of Economic Integration, 2024
  4. Corporate governance, institutional ownership, and stock liquidity of SMEs: evidence from China, Asia-Pacific Journal of Accounting and Economics, 2024
    Link to Paper Search Results by DOI
  5. Forecasting the Stock Price of Listed Innovative SMEs Using Machine Learning Methods Based on Bayesian optimization: Evidence from China, Computational Economics, 20230429
    Link to Paper Search Results by DOI
  6. Stock liquidity, financial constraints, and innovation in Chinese SMEs, FINANCIAL INNOVATION, 10(1), 20240229
    Link to Paper Search Results by DOI
  7. Does green innovation moderate between FDI and environmental sustainability? Empirical evidence from South Asia, PLOS ONE, 18(11), 20231109
    Link to Paper Search Results by DOI
  8. The Moderating Effect of Market-Specific Factors on the Return Predictability of Investor Sentiment, SAGE OPEN, 12(3), 202207
    Link to Paper Search Results by DOI
  9. The Local Impact on the Concurrent Sentiment-Return Nexus: Asian versus European Markets, Emerging Science Journal, 5(6), 894-905, 20211210
    Link to Paper Search Results by DOI
  10. The risk management role of nonexecutive directors: from capital expenditure perspective, EUROPEAN JOURNAL OF MANAGEMENT AND BUSINESS ECONOMICS, 30(2), 152-169, 20210531
    Link to Paper Search Results by DOI
  11. Foreign Ownership and Stock Return Volatility in Vietnam: the Destabilizing Role of Firm Size, ORGANIZATIONS AND MARKETS IN EMERGING ECONOMIES, 10(2), 356-377, 2019
    Link to Paper Search Results by DOI
  12. The change in board independence in the presence of firm risk and regulation, Contaduría y Administración (Accounting and Management), 64(4), 1-22, 2019
    Link to Paper Search Results by DOI
  13. Does Fear has Stronger Impact than Confidence on Stock Returns? The Case of Asia-Pacific Developed Markets, SCIENTIFIC ANNALS OF ECONOMICS AND BUSINESS, 67(2), 157-175, 2020
    Link to Paper Search Results by DOI
  14. Impact of financial development on sentiment-return relationship: Insight from Asia-Pacific markets, BORSA ISTANBUL REVIEW, 20(2), 95-107, 202006
    Link to Paper Search Results by DOI
  15. The Motivating Role of Sentiment in ESG Performance: Evidence from Japanese Companies, EAST ASIAN ECONOMIC REVIEW, 25(2), 125-150, 202106
    Link to Paper Search Results by DOI

Social Activities

History as Committee Members

  1. Co-Editor Japanese Journal of Monetary and Financial Economics, 2014/04, 2026/03, Japan Society of Monetary Economics
  2. Advisory to Financial Administration, 2015/04, 2027/03, Ministry of Finance
  3. Japan Health Insurance Association Hiroshima Branch Council Chairman, 2024/10, 2026/09, Japan Health Insurance Association Hiroshima Branch

History as Peer Reviews of Academic Papers

  1. 2025, Business Strategy and Development, Others, Referee, 1
  2. 2024, Carbon Balance and Management, Others, Referee, 1
  3. 2024, Business Strategy and the Environment, Others, Referee, 2
  4. 2023, Japanese Journal of Monetary and Financial Economic, Editor, 1
  5. 2018, Japanese Journal of Monetary and Financial Economic, Editor, Editor, 1
  6. 2019, Japanese Journal of Monetary and Financial Economic, Editor, Editor, 1
  7. 2017, Japanese Journal of Monetary and Financial Economic, Editor, Co-Editor, 1
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