場所:東京大学経済学研究科棟 地下1階 第1教室
スピーカー:David Johnstone 教授
Professor of Finance and Chair of Finance
University of Sydney
演題:Economic Interpretation of Maximum Likelihood and the Probability of Bankruptcy

David Johnstone is the National Australia Bank Professor of Finance at the Graduate School of Business of University of Sydney. Before joining University of Sydney, he taught in the School of Business at the University of California Berkeley. He won teaching awards in the MBA programs both at Berkeley and Sydney. He received his Ph. D. in Economics from the University of Sydney.
Professor Johnstone's current research focuses on the multi-disciplinary theory of investment under uncertainty and related issues on asset valuation and market microstructure. One of the topics involves the use of probability scoring rules, used widely in the evaluation of weather forecasts, to choose between competing insolvency prediction models. Two recent papers, published in Theory and Decision and the Journal of Banking and Finance, extended his work on decision theory to include behavioral finance models. His research on asset valuation for the purposes of tariff regulation formed the basis for a review of Australian regulatory practices by the Productivity Commission. He has been the invited keynote speaker on this topic at several national conferences hosted by Australian regulatory agencies. He also has a long record of developing and delivering executive teaching programs in Australia and internationally.