Dr Kenjiro Hori
-
Overview
Overview
Biography
Ken joined Birkbeck in 2004 after PhD at University of Cambridge. His main teaching has been on the MSc level, namely Microeconomics for MSc Economics and Financial Markets for MSc Finance, although he has taught other modules including Mathematical Finance and Quantitative Techniques.
Prior to his post-graduate studies Ken worked for a large Japanese bank for many years, first as a Financial Engineer (in Tokyo) and then as a Quantitative Analyst / Exotic Options Trader (in London). Ken is a Chartered Member of the Security Analysts Association of Japan, an equivalent qualification to CFA in the UK.
Ken's main research area has progressed from Search Theory (his PhD topic) to incentive in banking (in particular relating to Contingent Convertible Bonds) to more recently pension reform.
After many years as the Chair of Sub-board of Examiners for BSc programmes in Economics and Finance, Ken is currently the Head of Department.
Office hours
By appointment
Qualifications
- Certificate in Teaching in Lifelong Learning (Higher Education), Birkbeck, University of London, 2006
- PhD Economics, University of Cambridge, 2004
- MPhil Economics, University of Cambridge, 2000
- Diploma Economics, University of Cambridge, 1999
- MA Mathematics, University of Cambridge, 1990
Administrative responsibilities
- Head of Department
Professional activities
Work for Utility Regulators (Ofgem, Ofcom, Ofwat, etc.) with various outputs, e.g. “Report on the Cost of Capital”, Smithers & Co. Ltd. report provided to Ofgem, co-authored with S. Wright, R. Mason, S. Satchell and M. Baskaya, September 2006
Professional memberships
Chartered Member of the Security Analysts Association of Japan (CMA)
Fellow, Higher Education Academy
-
Research
Research
Research interests
- Incentives in Banking Regulations
- Pension
- Search Theory
- Theory of Finance
Research overview
Ken's current area of research is in pension reform, investigating the actuarially fair contribution rates for the USS pension scheme.
Ken's other areas of research include incentives in banking, particularly related to Contingent Convertible Bonds.
-
Supervision and teaching
Supervision and teaching
Supervision
Teaching
Teaching modules
- Help To Grow: Management (BUBU071N0)
- Financial Markets (BUEM076S7)
- Microeconomics (EMEC024S7)
- Mathematics for Economists (EMEC029S6)
-
Publications
Publications
Article
- Hori, K. (2009) Directed search, rationing and wage dispersion. B.E. Journal of Theoretical Economics 9 (1), ISSN 1935-1704.
Monograph
- Hori, Kenjiro and Wright, Stephen (2022) Unpleasant actuarial arithmetic: fair contribution rates for defined benefit pension schemes. London, UK: Department of Economics, Mathematics and Statistics.
- Hori, Kenjiro and Wright, Stephen (2019) “Sustainable and Affordable”? Actuarially fair contribution rates for the USS Pension Scheme. London, UK: Department of Economics, Mathematics and Statistics.
- Hori, Kenjiro and Martin Cerón, Jorge (2018) Contingent Convertible Bonds: payoff structures and incentive effects. Birkbeck Working Paper London, UK: Birkbeck, University of London.
- Hori, Kenjiro and Martin Cerón, Jorge (2017) Indifference curve analysis of banks' risk-taking and CoCo Covenants. Birkbeck Working Paper London, UK: Birkbeck, University of London.
- Hori, Kenjiro and Ceron, George Martin (2016) Removing moral hazard and agency costs in banks: beyond CoCo Bonds. London, UK: Birkbeck College, University of London.
- Hori, Kenjiro and Ceron, Jorge Martin (2015) Optimal volatility, covenants and cost of capital under Basel III bail-in. London, UK: Birkbeck College, University of London.
- Hori, Kenjiro and Ceron, Jorge Martin (2014) Agency costs of bail-in. London, UK: Birkbeck College, University of London.
- Hori, Kenjiro (2007) Directed-job match with hetereogeneity. London, UK: Birkbeck, University of London.
- Hori, Kenjiro (2007) Wage-directed job match with multiple applications and multiple vacancies: the optimal job application strategy and wage dispersion. London, UK: Birkbeck, University of London.
- Hori, Kenjiro (2007) Multiple applications matching function: an alternative. London, UK: Birkbeck, University of London.
- Hori, Kenjiro (2007) Directed-job match with heterogeneity. London, UK: Birkbeck, University of London.
- Wright, Stephen and Mason, R. and Satchell, S. and Baskaya, M. and Hori, Kenjiro (2006) Report on the cost of capital. U.K. Economic Regulators and the Office of Fair Trading.
- Hori, Kenjiro (2005) Profit-sharing as the optimal wage contract. London, UK: Birkbeck, University of London.
-
Business and community
Business and community
Services
-
Consultancies and expert advice
Occasional consultancies for utility regulators (Ofgem / Ofcom / Ofwat)
-
Consultancies and expert advice