Ayako Yasuda

University of California, Davis - Graduate School of Management

One Shields Avenue

Davis, CA 95616

United States

http://www.ayakoyasuda.com

  • University of California, Davis - Graduate School of Management

    • Email
    • Tel: 530-752-0775
    • Fax: 530-752-2924
SCHOLARLY PAPERS

23

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47,720

SSRN CITATIONS
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Top 1,201

in Total Papers Citations

903

CROSSREF CITATIONS

356

Scholarly Papers (23)

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1.

The Economics of Private Equity Funds

Downloads 17,164 ( 371)
Citation 154

The Economics of Private Equity Funds

Review of Financial Studies, Vol. 23, pp. 2303-2341, Swedish Institute for Financial Research Conference on The Economics of the Private Equity Market
Number of pages: 57 Posted: 27 Jun 2007 Last Revised: 03 Aug 2010
Andrew Metrick and Ayako Yasuda
Yale School of Management and University of California, Davis - Graduate School of Management
Downloads 17,164 (361)
Citation 154

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private equity, venture capital, fund managers

The Economics of Private Equity Funds

The Review of Financial Studies, Vol. 23, Issue 6, pp. 2303-2341, 2010
Posted: 17 May 2010
Andrew Metrick and Ayako Yasuda
Yale School of Management and University of California, Davis - Graduate School of Management

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G1, G20, G24

2.

Venture Capital and the Finance of Innovation

VENTURE CAPITAL AND THE FINANCE OF INNOVATION, 3rd Edition, Andrew Metrick and Ayako Yasuda, eds., John Wiley and Sons, Inc., 2021
Number of pages: 36 Posted: 10 Sep 2006 Last Revised: 05 Aug 2021
Andrew Metrick and Ayako Yasuda
Yale School of Management and University of California, Davis - Graduate School of Management
Downloads 13,419 (590)

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venture capital, innovation, valuation, real options

3.

Impact Investing

Downloads 4,008 ( 4,616)
Citation 154

Impact Investing

Number of pages: 60 Posted: 20 Dec 2015 Last Revised: 18 Mar 2020
Brad M. Barber, Adair Morse and Ayako Yasuda
University of California, Davis, University of California, Berkeley - Haas School of Business and University of California, Davis - Graduate School of Management
Downloads 3,855 (4,830)
Citation 11

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Impact investing; venture capital; private equity; socially responsible investment; United Nations Principles of Responsible Investment (UNPRI); sustainable investing; public pension funds; willingness to pay; random utility discrete choice models

Impact Investing

NBER Working Paper No. w26582
Number of pages: 59 Posted: 24 Dec 2019 Last Revised: 23 Feb 2023
Brad M. Barber, Adair Morse and Ayako Yasuda
University of California, Davis, University of California, Berkeley - Haas School of Business and University of California, Davis - Graduate School of Management
Downloads 153 (329,121)
Citation 6

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4.

Venture Capital and Other Private Equity: A Survey

Downloads 1,582 (20,372)
Citation 17

Venture Capital and Other Private Equity: A Survey

Number of pages: 56 Posted: 12 Dec 2010
Andrew Metrick and Ayako Yasuda
Yale School of Management and University of California, Davis - Graduate School of Management
Downloads 983 (40,244)

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Private Equity, Venture Capital, Buyouts, Alternative Assets

Venture Capital and Other Private Equity: A Survey

NBER Working Paper No. w16652
Number of pages: 57 Posted: 01 Jan 2011 Last Revised: 03 Jul 2022
Andrew Metrick and Ayako Yasuda
Yale School of Management and University of California, Davis - Graduate School of Management
Downloads 599 (77,898)
Citation 14

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5.

Are Stars' Opinions Worth More? The Relation Between Analyst Reputation and Recommendation Values

Number of pages: 51 Posted: 22 Mar 2005 Last Revised: 21 Nov 2010
Lily H. Fang and Ayako Yasuda
INSEAD - Finance and University of California, Davis - Graduate School of Management
Downloads 1,389 (24,815)
Citation 19

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Analyst reputation; star analysts; star status; stock recommendations; analyst skill

6.

Private Company Valuations by Mutual Funds

Review of Finance, Vol. 27, No. 2, 2023
Number of pages: 64 Posted: 08 Nov 2017 Last Revised: 07 Apr 2023
Vikas Agarwal, Brad M. Barber, Si Cheng, Allaudeen Hameed and Ayako Yasuda
Georgia State University, University of California, Davis, Syracuse University - Department of Finance, National University of Singapore (NUS) - Department of Finance and University of California, Davis - Graduate School of Management
Downloads 1,367 (25,385)
Citation 8

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Mutual funds, Venture capital, Private valuation, Stale prices, Financial fragility

7.

Interim Fund Performance and Fundraising in Private Equity

Journal of Financial Economics (JFE), Vol. 124, No. 1, 2017
Number of pages: 60 Posted: 23 Nov 2013 Last Revised: 23 Jan 2018
Brad M. Barber and Ayako Yasuda
University of California, Davis and University of California, Davis - Graduate School of Management
Downloads 1,008 (39,445)
Citation 27

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private equity, venture capital, buyouts, fundraising, fund evaluation, fund returns, institutional investors

8.

Do Bank Relationships Affect the Firm's Underwriter Choice in the Corporate-Bond Underwriting Market?

Downloads 1,007 (39,499)
Citation 86

Do Bank Relationships Affect the Firm's Underwriter Choice in the Corporate-Bond Underwriting Market?

Journal of Finance, Vol. 60, No. 3, pp. 1259-92, June 2005
Number of pages: 52 Posted: 04 Aug 2004
Ayako Yasuda
University of California, Davis - Graduate School of Management
Downloads 844 (49,732)
Citation 21

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Investment Banking, Universal Banking, Bank Relationships, Underwriting Market, Bank Competition

Do Bank-Firm Relationships Affect Bank Competition in the Corporate Bond Underwriting Market?

Number of pages: 57 Posted: 16 Aug 2010
Ayako Yasuda
University of California, Davis - Graduate School of Management
Downloads 163 (311,777)
Citation 4

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Bank relationships, Underwriting, Commercial banks, Glass-Steagall Act, Corporate Bonds, Bank Competition

9.

The Best Venture Capitalists

A. Metrick & A. Yasuda, VENTURE CAPITAL AND THE FINANCE OF INNOVATION, p. 72, Wiley, March 2021
Number of pages: 16 Posted: 06 Oct 2010 Last Revised: 20 Jul 2021
Andrew Metrick and Ayako Yasuda
Yale School of Management and University of California, Davis - Graduate School of Management
Downloads 971 (41,556)

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Venture Capital, Top-tier VC

10.

The Effectiveness of Reputation as a Disciplinary Mechanism in Sell-Side Research

Downloads 800 (54,265)

The Effectiveness of Reputation as a Disciplinary Mechanism in Sell-Side Research

EFA 2006 Zurich Meetings, Review of Financial Studies, Vol. 22, pp. 3735-3777
Number of pages: 46 Posted: 11 Sep 2004 Last Revised: 03 Aug 2010
Lily H. Fang and Ayako Yasuda
INSEAD - Finance and University of California, Davis - Graduate School of Management
Downloads 800 (53,484)
Citation 10

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Analyst research, Earnings forecast, Analyst reputation, Bank reputation, Conflict of interest, Investment banking

The Effectiveness of Reputation as a Disciplinary Mechanism in Sell-Side Research

The Review of Financial Studies, Vol. 22, Issue 9, pp. 3735-3777, 2009
Posted: 08 Sep 2009
Lily H. Fang and Ayako Yasuda
INSEAD - Finance and University of California, Davis - Graduate School of Management

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G14, G24, G28, D82, J44

11.

The Role of Institutional Investors in Propagating the Crisis of 2007-2008

Downloads 771 (57,002)
Citation 65

The Role of Institutional Investors in Propagating the Crisis of 2007-2008

UC Davis Graduate School of Management Research Paper No. 04-10
Number of pages: 53 Posted: 15 Aug 2009 Last Revised: 01 Dec 2010
Alberto Manconi, Massimo Massa and Ayako Yasuda
Bocconi University - Department of Finance, INSEAD - Finance and University of California, Davis - Graduate School of Management
Downloads 565 (83,879)
Citation 3

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crisis transmission, securitized debt, corporate bonds

The Behavior of Intoxicated Investors: The Role of Institutional Investors in Propagating the Crisis of 2007-2008

Number of pages: 78 Posted: 17 Aug 2010
Alberto Manconi, Massimo Massa and Ayako Yasuda
Bocconi University - Department of Finance, INSEAD - Finance and University of California, Davis - Graduate School of Management
Downloads 143 (347,914)
Citation 67

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crisis transmission, securitized debt, corporate bonds

The Behavior of Intoxicated Investors: The Role of Institutional Investors in Propagating the Crisis of 2007-2008

NBER Working Paper No. w16191
Number of pages: 55 Posted: 19 Jul 2010 Last Revised: 30 Mar 2023
Alberto Manconi, Massimo Massa and Ayako Yasuda
Bocconi University - Department of Finance, INSEAD - Finance and University of California, Davis - Graduate School of Management
Downloads 63 (602,404)

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12.

Stakeholder Impact of Private Equity Investments

Handbook of the Economics of Corporate Finance Vol 1: Private Equity and Entrepreneurial Finance (Elsevier)
Number of pages: 52 Posted: 26 Apr 2022 Last Revised: 04 Aug 2023
Morten Sorensen and Ayako Yasuda
Dartmouth College - Tuck School of Business and University of California, Davis - Graduate School of Management
Downloads 631 (73,941)
Citation 1

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Private equity; leveraged buyout; stakeholders; ESG; sustainable investing; impact investing; corporate governance; LBO; government policy and regulation; public-to-private transactions; going-private deals; private-to-private deals; value creation

13.

Investment Horizon of the Bond Investor Base and the Leverage of the Firm

Downloads 620 (75,559)
Citation 4

Investment Horizon of the Bond Investor Base and the Leverage of the Firm

AFA 2009 San Francisco Meetings Paper
Number of pages: 54 Posted: 25 Mar 2008 Last Revised: 12 Oct 2010
Massimo Massa, Ayako Yasuda and Lei Zhang
INSEAD - Finance, University of California, Davis - Graduate School of Management and City University of Hong Kong (CityU)
Downloads 380 (134,907)
Citation 4

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institutional investors; corporate bonds; investment horizon; corporate finance; capital structure; leverage; clientele; investor base

Investment Horizon of the Bond Investor Base and the Leverage of the Firm

INSEAD Business School Research Paper No. 2007/57/FIN/ACGRD
Number of pages: 54 Posted: 18 Oct 2007 Last Revised: 12 Oct 2010
Massimo Massa, Ayako Yasuda and Lei Zhang
INSEAD - Finance, University of California, Davis - Graduate School of Management and City University of Hong Kong (CityU)
Downloads 240 (218,757)
Citation 4

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institutional investors; corporate bonds; investment horizon; corporate finance; capital structure; leverage; clientele; investor base

14.

A Model of Private Equity Fund Compensation

Downloads 612 (76,803)
Citation 2

A Model of Private Equity Fund Compensation

Number of pages: 26 Posted: 06 Oct 2011
Wonho Wilson Choi, Andrew Metrick and Ayako Yasuda
KAIST, Yale School of Management and University of California, Davis - Graduate School of Management
Downloads 290 (180,707)

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private equity, venture capital, fund managers, managerial compensation, corporate governance

A Model of Private Equity Fund Compensation

International Economic Association, Proceedings of the Sixteenth World Congress, Forthcoming
Number of pages: 26 Posted: 23 Oct 2012
Wonho Wilson Choi, Andrew Metrick and Ayako Yasuda
KAIST, Yale School of Management and University of California, Davis - Graduate School of Management
Downloads 238 (220,545)

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private equity, venture capital, fund managers, managerial compensation, corporate governance

A Model of Private Equity Fund Compensation

NBER Working Paper No. w17568
Number of pages: 27 Posted: 04 Nov 2011 Last Revised: 03 Jul 2023
Wonho Wilson Choi, Andrew Metrick and Ayako Yasuda
KAIST, Yale School of Management and University of California, Davis - Graduate School of Management
Downloads 84 (510,639)

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15.

Bank Relationships and Underwriter Competition: Evidence from Japan

Downloads 512 (95,884)
Citation 4

Bank Relationships and Underwriter Competition: Evidence from Japan

Journal of Financial Economics, Vol. 86, No. 2, pp. 369-404, November 2007
Number of pages: 56 Posted: 29 Sep 2006 Last Revised: 06 Oct 2007
Ayako Yasuda
University of California, Davis - Graduate School of Management
Downloads 360 (143,348)

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Bank Relationships, Bank Shareholding, Investment Banking, Universal Banking, Bank Competition, Underwriting Market, Comparing Financial Systems

Bank Relationships and Underwriter Competition: Evidence from Japan

Number of pages: 54 Posted: 07 Nov 2005
Ayako Yasuda
University of California, Davis - Graduate School of Management
Downloads 152 (330,997)
Citation 3

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Bank Relationships, Bank Equity Holdings, Investment Banking, Universal Banking, Bank Competition, Underwriting Market, Comparing Financial Systems

16.

Are Stars’ Opinions Worth More? The Relation between Analyst Reputation and Recommendation Values

Downloads 392 (131,390)
Citation 38

Are Stars’ Opinions Worth More? The Relation between Analyst Reputation and Recommendation Values

Number of pages: 48 Posted: 17 Dec 2011
Lily H. Fang and Ayako Yasuda
INSEAD - Finance and University of California, Davis - Graduate School of Management
Downloads 212 (246,421)
Citation 10

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Analyst reputation, star status, stock recommendations, institutional investors, performance evaluation

Are Stars’ Opinions Worth More? The Relation between Analyst Reputation and Recommendation Values

Journal of Financial Services Research 46, 235-269, 2014
Number of pages: 46 Posted: 22 Nov 2013 Last Revised: 12 Dec 2014
Lily H. Fang and Ayako Yasuda
INSEAD - Finance and University of California, Davis - Graduate School of Management
Downloads 180 (285,888)
Citation 4

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Analyst reputation, star status, stock recommendations, institutional investors, performance evaluation

17.

The Role of Institutional Investors in Propagating the Crisis of 2007-2008

Journal of Financial Economics (JFE), Vol. 104, No. 3, 2012
Number of pages: 59 Posted: 20 Mar 2013
Alberto Manconi, Massimo Massa and Ayako Yasuda
Bocconi University - Department of Finance, INSEAD - Finance and University of California, Davis - Graduate School of Management
Downloads 305 (172,388)
Citation 4

Abstract:

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crisis transmission, securitized bonds, corporate bonds, liquidity channel

18.

Are Stars' Opinions Worth More? Evidence from Stock Recommendations 1994-2009

Number of pages: 43 Posted: 08 Mar 2011
Lily H. Fang and Ayako Yasuda
INSEAD - Finance and University of California, Davis - Graduate School of Management
Downloads 279 (189,064)
Citation 2

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Analyst reputation, star analysts, star status, stock recommendations, analyst skill, reg-FD, Government policy and regulation, conflict-of-interest reforms, Institutional investors

19.

Supply Uncertainty of the Bond Investor Base and the Leverage of the Firm

Journal of Financial Economics 110, 185–214.
Number of pages: 61 Posted: 06 Mar 2013 Last Revised: 11 Jan 2015
Massimo Massa, Ayako Yasuda and Lei Zhang
INSEAD - Finance, University of California, Davis - Graduate School of Management and City University of Hong Kong (CityU)
Downloads 272 (194,066)
Citation 23

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institutional investors, corporate bonds, capital supply uncertainty, corporate finance, capital structure, leverage, clientele, investor base

20.

Do Investors Overvalue Startups? Evidence from the Junior Stakes of Mutual Funds

Number of pages: 56 Posted: 01 May 2023 Last Revised: 27 Nov 2023
Vikas Agarwal, Brad M. Barber, Si Cheng, Allaudeen Hameed, Harshini Shanker and Ayako Yasuda
Georgia State University, University of California, Davis, Syracuse University - Department of Finance, National University of Singapore (NUS) - Department of Finance, London Business School and University of California, Davis - Graduate School of Management
Downloads 232 (227,994)

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Startup valuation, Mutual funds, Venture capital, Fair value, Private valuation

21.

The Effectiveness of Institutional Investors in Evaluating Analysts

Number of pages: 54 Posted: 03 Feb 2012
Lily H. Fang and Ayako Yasuda
INSEAD - Finance and University of California, Davis - Graduate School of Management
Downloads 196 (265,338)

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Institutional investors; performance evaluation; analyst skill; stock recommendations; star analysts; star status; reputation.

22.

Impact Investing

The Palgrave Encyclopedia of Private Equity (https://link.springer.com/referencework/10.1007/978-3-030-38738-9)
Number of pages: 15 Posted: 01 May 2023 Last Revised: 23 Jul 2023
Ayako Yasuda
University of California, Davis - Graduate School of Management
Downloads 159 (318,411)

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double bottom line investing; dual objective investing; prosocial investing; consequentialist investing; investing with non-pecuniary benefit

23.

Identifying Funds’ Sustainability Goals with AI: Financial, Categorical Morality, and Impact

Number of pages: 71 Posted: 30 Nov 2023
Keer Yang and Ayako Yasuda
University of California, Davis - Graduate School of Management and University of California, Davis - Graduate School of Management
Downloads 24 (848,227)

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Sustainable Finance; Machine Learning; ESG; Impact Investing; Socially Responsible Investing; Materiality;