Basic Information

写真a

Clinton WATKINS


Title

Director, Global Business Program (Ryoiki)

Nationality

AUSTRALIA

Research Fields, Keywords

Finance, Empirical Finance, Market Microstructure, Commodity Markets, Equity Markets, Foreign Exchange

Homepage URL

https://www.clintonwatkins.com/

Profile

I am currently Professor and Director, Global Business at Akita International University (AIU), teaching undergraduate courses in finance and conducting research in empirical finance. My recent research focuses on market microstructure in commodity and equity markets, and the empirical finance of foreign exchange. Previously, I was an Associate Professor in the Graduate School of Economics at Kobe University and in Global Business at AIU. Prior to working in academia, I was a Director at BlackRock Japan, formerly Barclays Global Investors, working in research and strategy for a multi-asset class quantitative global macro hedge fund. At BlackRock, I worked on asset allocation and models forecasting returns in currency, fixed income and emerging market equities, as well as other asset classes. In addition, I created materials to inform and educate our clients about the fund's strategies, as well as analysing the macroeconomies of the Asian region. Before that, I was an Adviser at the Reserve Bank of New Zealand, where I worked in financial markets analysis and research as part of the Bank's monetary and financial stability processes. Much of this work revolved around monitoring relevant developments in global financial markets, extracting and interpreting information from both financial market prices and qualitative surveys of market participants. Previously, I worked in energy and greenhouse gas economics and held management positions in several businesses in Australia. My PhD thesis on the empirical finance of non-ferrous metals markets and was completed at the University of Western Australia under the supervision of Professor Michael McAleer.

Website: https://www.clintonwatkins.com/

RePEc: https://ideas.repec.org/f/pwa618.html
Google Scholar: https://scholar.google.com/citations?user=dj3LIc0AAAAJ
Researchmap: https://researchmap.jp/7000013818

Research Field

Finance, Empirical Finance, Market Microstructure, Commodity Markets, Equity Markets, Foreign Exchange

Recent Activities

My current research projects include:
1. The Changing Role of Foreign Investors in Tokyo Stock Price Formation (with Kentaro Iwatsubo).

2. Arbitrage and Liquidity Across International Platinum Markets (with Kentaro Iwatsubo).

3. Dividends and Firms’ Payout Targets: Evidence from Japan (with Jason Bennett and Chang Liu).

4. Does Firm-Level Productivity Predict Stock Returns? (with Takashi Hiroki and Kentaro Iwatsubo).

5. Read a summary of a recent research project "Intraday seasonality in efficiency, liquidity, volatility and volume: Platinum and gold futures in Tokyo and New York" with Ken Iwatsubo and Tao Xu on the Japan Exchange Futures and Options Report website (in Japanese): https://www.jpx.co.jp/derivatives/futures-options-report/archives/nlsgeu000004hmd8-att/rerk2004.pdf

6. Read a summary of a recent research project "Who influences the fundamental value of commodity futures in Japan?" with Ken Iwatsubo on the Japan Exchange Futures and Options Report website (in Japanese): https://www.jpx.co.jp/derivatives/futures-options-report/archives/nlsgeu000004hmd8-att/rerk2005.pdf

Message to Students

Finance, economics and business can be very stimulating and rewarding fields for your professional career, either as a practitioner, a researcher in industry or government, or as an academic researcher and educator. To work in these areas well, we need to be both practical and innovative. If finance, economics or business interest you, I hope you pursue study in these fields at university with great enthusiasm and curiosity.

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Degree Earned 【 display / non-display 】

  • Doctor of Philosophy, Financial Economics, University of Western Australia, 2003/09

  • Master of Economics, Economics, University of Western Australia, 1995/04

  • Bachelor of Economics, Economics, University of Western Australia, 1992/04

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Professional Career On-Campus 【 display / non-display 】

  • Akita International University Faculty of International Liberal Arts Global Business Program, Director, Global Business Program (Ryoiki), 2021/04 -

  • Akita International University Faculty of International Liberal Arts Global Business Program (Ryoiki), Professor, 2021/04 -

  • Akita International University Faculty of International Liberal Arts Global Business Program , Director, Global Business Program (Katei), 2020/04 - 2021/03

  • Akita International University Faculty of International Liberal Arts Global Business Program (Katei), Professor, 2020/04 - 2021/03

  • Akita International University Faculty of International Liberal Arts Global Business Program (Katei), Visiting Professor, 2015/09 - 2020/03

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External Career 【 display / non-display 】

  • Kobe University Graduate School of Economics, Associate Professor, 2015/09 - 2020/03

  • Riocee Inc., Senior Research Officer, 2016/07 - 2016/11

  • BlackRock Japan (formerly Barclays Global Investors Japan) Global Market and Multi-Asset Strategies, Director, 2008/01 - 2012/05

  • Reserve Bank of New Zealand Market Analysis and Research, Adviser, 2003/07 - 2007/12

  • Yokohama National University, Visiting Associate Professor, 2003/09 - 2003/11

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Academic Society Affiliations 【 display / non-display 】

  • Nippon Finance Association, 2019/11 - , JAPAN

  • American Economic Association, 2019/11 - , UNITED STATES

  • Asian Finance Association, 2018/07 - , Others (Asian region)

  • American Finance Association, 2017/12 - , UNITED STATES

  • International Engineering and Technology Institute, 2015/11 - , Others (Asian region)

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Field of Expertise 【 display / non-display 】

  • Money/ Finance

  • Economic statistics

  • Economic policy

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Academic Papers 【 display / non-display 】

  • Raising Global Citizens at Home: Exploring a methodological approach, Societal Impacts, vol.- (-) (p.100012 - -) , 2023/11, Ingrid Van Rompay-Bartels, Clinton Watkins, Jannemieke Geessink

    DOI:10.1016/j.socimp.2023.100012, Research paper (scientific journal), Multiple Authorship, Management, Commerce, Education, English

  • Causality between Arbitrage and Liquidity in Platinum Futures, Journal of Risk and Financial Management, vol.15 (12) (p.1 - 17) , 2022/12, Kentaro Iwatsubo, Clinton Watkins

    DOI:10.3390/jrfm15120593, Research paper (scientific journal), Multiple Authorship, Public finance/Public economy, English

  • Does firm-level productivity predict stock returns?, Pacific-Basin Finance Journal, vol.72 (101710) (p.101710) , 2022/01, Takeshi Hiroki, Kentaro Iwatsubo, Clinton Watkins

    DOI:10.1016/j.pacfin.2022.101710, Research paper (scientific journal), Multiple Authorship, Money/ Finance, Economic statistics, English

  • The changing role of foreign investors in Tokyo stock price formation, Pacific-Basin Finance Journal, vol.67 (June) (p.X) , 2021/06, Kentaro Iwatsubo, Clinton Watkins

    DOI:10.1016/j.pacfin.2021.101548, Research paper (scientific journal), Multiple Authorship, English

  • Who Influences the Fundamental Value of Commodity Futures in Japan?, International Review of Financial Analysis, vol.67 (1) (p.1 - 15) , 2020/01, Kentaro Iwatsubo, Clinton Watkins

    DOI:https://doi.org/10.1016/j.irfa.2019.101404, Research paper (scientific journal), Multiple Authorship, English

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Other Research Activities 【 display / non-display 】

  • Japan Exchange Group Futures and Options Report 32(4), 2020/04

    Other

  • Japan Exchange Group Futures and Options Report 32(5), 2020/05

    Other

  • Peer Review of Manuscripts for Academic Journals, 2020/04 - 2021/03

    Other

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

  • Grant-in-Aid for Scientific Research (C)，2022/04 - 2025/03，Management Disclosure of Long-term Payout Targets, Firm Performance and Corporate Governance

    Corporations' management have long been thought to maintain long-term dividend payout targets, but there is little evidence on what these targets are or how they evolve over time. This project will develop a database of voluntary long-term payout target disclosures by listed Japanese firms. The properties of payout targets and their relationships with firm performance, stock returns, actual payouts, bankruptcy risk and corporate governance characteristics will be investigated.

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Joint Research Activities 【 display / non-display 】

  • Foreign Exchange Forecasting, 2016/12 - 2018/03, Collaboration in Japan

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Presentations 【 display / non-display 】

  • World Finance and Banking Symposium, International Conference, 2023/12, Corporate cash holdings, culture and international factors in Japan, Oral Presentation (general), Money/ Finance, Commerce, Economic statistics

  • World Finance and Banking Symposium, International Conference, 2023/12, Discussant comments on "The Impact of Currency Carry Trade Activity on the Transmission of Monetary Policy", Oral Presentation (general), Money/ Finance, Commerce, Economic statistics

  • 4th Conference on CSR, the Economy and Financial Markets, International Conference, 2021/11, Discussant presentation for the paper - "The Economic Consequences of Firms' Commitment to ESG Policies", Oral Presentation (general), Money/ Finance

  • World Finance Conference 2020, International Conference, 2020/09, The Changing Role of Foreign Investors in Tokyo Stock Price Formation, Oral Presentation (general)

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On-Campus Classes/Subjects In Charge of 【 display / non-display 】

  • 2023, Fall, ECN401-6_F, Global Business Capstone Seminar

  • 2023, Fall, ECN348-1_F, Behavioral Finance

  • 2023, Fall, ECN301-1_F, Financial Theories and Applications

  • 2023, Fall, GBS303-1_F, GB Special Topic 3: Crossing Borders Without Crossing Borders (AIU-HAN Collaboration)

  • 2023, Spring, ECN301-1_S, Financial Theories and Applications

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Community Activities Outside University 【 display / non-display 】

  • Journal Topics Board (Topic Editors)，2017/11 -

    Journal of Risk and Financial Management

  • Editorial Board，2017/11 -

    Annals of Financial Economics

  • Editorial Board，2017/11 -

    Advances in Decision Sciences

  • Editorial Board，2017/11 -

    Journal of Reviews on Global Economics

  • Editorial Advisory Board，2017/11 -

    Taiwan Journal of Applied Economics

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