Ayako Yasuda Faculty Profile

Ayako Yasuda
Assistant Professor of Finance

PhD, Stanford University, 2001; BA, Stanford University, 1993

Research Areas
Economics of financial intermediation, particularly investment banking, commercial banking, and venture capital/private equity; corporate finance

Current Projects
Economics of private equity funds; Withdrawal risk of institutional investors and the leverage of the firm; The relation between reputation and performance in sell-side research

Academic Positions Held
Wharton: 2001-present

Other Positions
Financial Analyst, Goldman, Sachs & Co. (Tokyo), 1993-95

Career and Recent Professional Awards; Teaching Awards
William and Phyllis Mack Center for Technological Innovation Research Grant, 2006-08; Rodney L. White Center Research Grant, 2003-present; Wharton/INSEAD Alliance Research Grants 2004-present; The Best Paper Prize, the Global Finance Conference, 2002; The Best Paper Prize, the National Taiwan University International Conference on Finance, 2002

Professional Leadership 2003-2007
Founding member, Editorial Board, Journal of Asia Business Studies, 2005-present

Representative Publications
“Do Bank Relationships Affect the Firm’s Underwriter Choice in the Corporate-Bond Underwriting Market?” Journal of Finance 60, 1259-1292 (2005).

“Bank Relationships and Underwriter Competition: Evidence from Japan.” Journal of Financial Economics 86, 369-404 (2007).

(with Lily H. Fang)
"The Effectiveness of Reputation as a Disciplinary Mechanism in Sell-side Research." Review of Financial Studies (forthcoming).