Researcher Database

（Last updated : 2023-03-21 15:31:48）

QIN Jie

Department / Course College of Economics Department of Economics

Title / Position Professor

Other Affiliations
1.	Graduate School of Economics
2.	Research Organization of Social Science (BKC) Research Center for Finance

Academic background
1.	～1992	School of Mathematical Sciences │ Peking University │ Graduated
2.	～2000	Doctorial Course │ Graduate School of Economics │ Osaka University │ Completed
3.		│ Osaka University Doctor of Philosophy in Economics

Business career
1.	2002/04 ～	Professor │ │
2.	2000/04 ～ 2002/03	Lecturer │ │

Research activities
1.		Western Finance Association
2.		NIPPON FINANCE ASSOCIATION
3.		Association of Behavioral Economics and Finance

Subject of research
1.	Asset Pricing, behavioral finance, regret theory, emotion and financial investment, herding, crash

Research summary
Behavioral Finance My research interest is emotions and financial investment. As a result of evolution, emotions have a strong impact on decision making and are difficult to control by rational thinking. Although main stream economics generally treats decision making as a pure cognitive process, in the growing field of neuroeconomics psychologists, neuroscientists and economists started to examine the effects of emotions on decision making. Based on empirical and experimental studies of emotion in neuroscience, psychology and experimental economics, my researches aim to show how emotions, such as regret and fear, affect decision making in financial markets. One of my recent research focuses on the effect of regret on trading behavior. It is found that anticipated regret has a profound impact on investors’ trading strategies. Instead of buying low and selling high to earn a positive expected return, investors buy high and sell low to avoid anticipated regret. Moreover, herds can form in the market because of regret aversion. These behaviors results in market turbulence such as bubbles and crashes.

Present specialized field
Fiscal Studies/Finance Theory (Keyword：Behavioral Finance, Regret Theory, Asset Pricing, Market Microstructure, Herding, Crash)

Papers
1.	2020	Regret-based Capital Asset Pricing Model │ Journal of Banking and Finance │ 114,pp.1-8 (Sole-authored)
2.	2015	A Model of Regret, Investor Behavior, and Market Turbulence │ Journal of Economic Theory │ 160 (1),pp.150-174 (Sole-authored)
3.	2008	Experiments on risk attitude: The case of Chinese students │ China Economic Review │ 19,pp.245-259 (Co-authored)
4.	2002/06	Human Capital Adjusted Capital Asset Pricing Model │ The Japanese Economic Review │ 53 (2),pp.182-198 (Sole-authored)
5.	2000	Exchange Rate Risk and Two-way Foreign Direct Investment │ International Journal of Finance and Economics │ 5 (3),pp.pp. 221-231 (Sole-authored)
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Academic conference presentation
1.	2022/12/18	Counterfactual Thinking, Trading, and Market Inefficiency (行動経済学会)
2.	2021/09/19	Emotion and behavioral economics: with a focus on regret, investor behavior, and asset pricing
3.	2018/09/25	Regret and Preventive Health Behavior: Conceptual Framework, Measurement, Findings, and Applications (Group Meeting at Fred Hutchinson Cancer Research Center)
4.	2018/04/17	Regret and Decision Making under Uncertainty (Group Meeting at Fred Hutchinson Cancer Research Center)
5.	2018/01/27	Regret-CAPM: A Model of Regret and Asset Pricing (MEW(金融経済研究会）)
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Grants-in-Aid for Scientific Research -KAKENHI-
1.	2021/04/01 ～ 2025/03/31	Emotion, investment, and market equilibrium: from the approach of regret theory │ Grant-in-Aid for Scientific Research(C)

Competitive grants, etc. (exc. KAKENHI)
1.	2017/04 ～ 2022/03	Regret aversion, investor emotions, and stock markets: from the approach of neuroeconomics │ Research by External Competitive Fund
2.	2016/12 ～ 2017/12	Emotion and market: a study based on Regret Theory │ Research by External Competitive Fund

Department laboratory expense researcher number
40329751

researchmap Researcher code
1000301621