Dr. Yoichi Otsubo is an Associate Professor at Kobe University and is a honorary research fellow at the University of Manchester Alliance Manchester Business School. He previously held appointments at the University of Manchester Alliance Manchester Business School, Bank of Japan Institute for Monetary and Economics Studies, and University of Luxembourg. Yoichi hold a Ph.D. in Economics from Rutgers University and received both his B.A. in International Relations and M.A. in International Political Economy from University of Tsukuba. In his research, Dr. Otsubo has investigated aspects of financial economics, particularly the informational (in)efficiency of financial markets (e.g. market microstructure, price discovery process). He is currently working on research topics such as retail investors' communication in social media and risk connectedness of financial institutions.

Recent working papers

• Collective Effervescence in Retail Investors: An Exploratory Inquiry to Understand the Meme Stock Bubble (with K. Hayakawa)
• Oil Price Volatility and Option Implied Risk Connectedness in the Canadian Banking Sector (with L. Mu and X. Shen)

Recent Publication

• Vocabulary Herfindahl Index (VocaHIn): Linguistic Dominance and Collective Effervescence in WallStreetBets, Economics Letters, forthcoming (with K. Hayakawa, S. H. Poon, and S. Wei)
• Detecting political event risk in the option market, Journal of Banking & Finance, Volume 146, 2023 (with A. Kostakis and L. Mu) 

Research Interests

• Informational (In)efficiency of Financial Markets, Price Discovery, Market Microstructure.
• Investors' communication and interaction, and their impact on their Belief and Decision making (with application of Textual analysis and Social/Linguistic Anthropological approaces).
• Market perceptions of political uncertainty, Energy and Carbon market, High-frequency/Low-latency tradings, Risk neutral densities/moments

Ongoing projects 

• Retail Investors' Communication in Social Media
• Risk connectedness of financial institutions