Yoshio Nozawa
Bio
Yoshio Nozawa is an Assistant Professor of Finance in the Department of Management, University of Toronto Scarborough and the Rotman School of Management (cross appointed). His research interests are on asset pricing, with a particular focus on fixed income and credit risk. His research has been published in leading academic and practitioner journals including the American Economic Review and Journal of Finance.
Before joining the University of Toronto, Yoshio was an Assistant Professor of Finance at the Hong Kong University of Science and Technology and worked as a senior economist in the Division of Monetary Affairs at the Federal Reserve Board.
Academic Positions
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2018-2021
Assistant Professor, Hong Kong University of Science and Technology
Non-Academic Positions
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2013-2018
Economist, Senior Economist, Federal Reserve Board
Selected Publications - Papers
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Corporate Bond Market Reactions to Quantitative Easing During the COVID-19 Pandemic
Yoshio Nozawa and Yancheng Qiu
Journal of Banking and Finance
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Redouane Elkamhi, Chanik Jo, and Yoshio Nozawa
Management Science
Issue:forthcoming
2023
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Redouane Elkamhi and Yoshio Nozawa
Journal of Financial Economics
Issue:146
2022
Pages: 1120-1147
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Liquidity Supply in the Corporate Bond Market
Jonathan Goldberg and Yoshio Nozawa
Journal of Finance
Issue:76
2021
Pages: 755-796
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Option-Based Credit Spreads
Chris Culp, Yoshio Nozawa and Pietro Veronesi
American Economic Review
Issue:108
2018
Pages: 454-488
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Are Capital Market Anomalies Common to Equity and Corporate Bond Markets?
Tarun Chordia, Amit Goyal, Avanidhar Subrahmanyam and Qing Tong
Journal of Financial and Quantitative Analysis
Issue:52
2017
Pages: 1301-1342
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What Drives the Cross-section of Credit Spreads?: A Variance Decomposition Approach
Yoshio Nozawa
Journal of Finance
Issue:72
2017
Pages: 2045-2072
Research and Teaching Interests
Asset Pricing, Credit Risk, Fixed Income
Honors and Awards
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2022
Referee of the Year, Review of Asset Pricing Studies
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2010
Bradley Fellowship, Bradley Foundation
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2015
AQR Insight Award, AQR
Professional Affiliations/Memberships
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Japan Finance Association
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European Finance Association
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American Finance Association