Department of Liberal Arts

井坂 直人

イサカ ナオト  (Isaka Naoto)

基本情報

所属
上智大学 国際教養学部国際教養学科 教授
学位
学士(外国研究)(上智大学)
修士(国際公共政策)(大阪大学)
博士(経済学)(一橋大学)

研究者番号
00434192
J-GLOBAL ID
200901061710996137
researchmap会員ID
5000085443

論文

 15
  • 井坂 直人
    現代ファイナンス 44 19-55 2022年2月15日  査読有り筆頭著者責任著者
  • 井坂 直人
    PACIFIC-BASIN FINANCE JOURNAL 46 191-211 2017年12月  査読有り筆頭著者責任著者
  • Naoto Isaka
    INTERNATIONAL REVIEW OF FINANCE 14(1) 75-103 2014年3月  査読有り
    Abstract We examine empirically the long-run effects of reductions in minimum trading units (MTU) on stock prices in Japan from October 2001 to May 2008. When firms reduce their MTU, the number of individual shareholders tends to increase significantly for several years. We estimate buy-and-hold abnormal returns and find that positive stock returns are observed not only for the period between the announcement day and the actual date of MTU decreases, but also for a period of several years following MTU reductions. In addition, we measure stock price reactions to the release of public information before and after MTU reductions and find that stock prices react less to the release of positive information and more to the release of negative information after the MTU reductions. These findings, together with evidence of the change in the short and long positions of investors after the MTU reductions, indicate that individual investors face short-sales constraints.
  • ISAKA NAOTO, Hiroshi Yoshikawa
    Financial Decisions 25(2) 1-20 2013年12月  査読有り
  • 井坂直人
    上智大学学術情報リポジトリ 1-23 2012年3月  

書籍等出版物

 1

講演・口頭発表等

 32

共同研究・競争的資金等の研究課題

 7

その他

 2