Association of Behavioral Economics and Finance

Statutes

Chapter 1 General Rules

Article 1 (Name)
The organization is named Kodo Keizai Gakkai whose English translation shall be Association of Behavioral Economics and Finance (acronym: ABEF).
Article 2 (Secretariat)
The Secretariat of the Association is temporarily located at the Institute of Social and Economic Research of Osaka University.

Chapter 2 Objectives and Activities

Article 3 (Objectives)
The objectives of the Association are to encourage theoretical, demonstrative and applied research relating to human (individual, collective and organizational) behavior as an economic agent; educate and enlighten the general public other than members of the academic community on the basis of relevant research achievements.
Article 4 (Activities)
In order to achieve the objectives set forth in Article 3, the Association will undertake the following activities:
  1. Organization of meetings in which research achievements are presented
  2. Publication of the Association’s journal
  3. Other activities deemed necessary and appropriate by the Board of Directors of the Association

Chapter 3 Membership

Article 5 (Types of membership)
The Association admits the following three types of members, upon examination by the Board of Directors and approval in a General Assembly of the Association:
  1. Regular members: Individuals capable of helping advance the Association’s objectives as set forth in Article 3
  2. Institutional members: Institutions interested in research specified in Article 3
  3. Special sponsor members: Institutions, groups or individuals interested in supporting the Association’s objectives and capable of assisting the Association’s activities
Article 6 (List of members)
The Association shall maintain a list of its members, with prescribed information concerning them.
Article 7 (Membership dues)
The Association’s members shall pay membership dues, which may be revised upon approval in a General Assembly.
Article 8 (Termination of membership)
Membership in the Association shall be considered terminated in the following cases:
  1. Member’s request for own membership termination
  2. Member’s failure to pay the membership dues within a prescribed period of time, followed by the Board of Directors’ decision to terminate his or her membership
  3. The Board of Directors’ decision to expel a member for dishonorable conduct or gross violation of the duties and responsibilities of membership in advancing the Association’s causes

Chapter 4 Organization

Article 9 (Officers)
The Association shall have the following officers:
  1. Sixteen (16) Directors, including
    a. President (1)
    b. Vice-President (1)
    c. Executive Directors (4)
    d. Other Directors (10)
  2. Advisors (unspecified number)
  3. Councilors (unspecified number)
  4. Auditors(2)
Article 10 (Directors)
Twelve Directors shall be elected by mutual vote from among the Association’s regular members; the remaining four Directors shall be appointed by the President. The term of office of Directors shall be two years; they may, however, continue to serve for subsequent terms if so elected, but only for up to five consecutive terms.
Article 11 (President and Vice-President)
The term of office of the President and the Vice-President shall be two years. The President shall be elected from among the Directors by mutual vote. The President may not serve a second term. Vice-President shall be appointed by the President among the Executive Directors.
Article 12 (Duties of the President and the Vice-President)The President shall represent the Association and superintend its operations and activities. The Vice President shall assist the President and superintend the Association’s operations and activities. The Vice-President shall serve as the acting President of the Association if the President is incapacitated.
Article 13 (Executive Directors)
The Executive Directors shall be elected from among the Directors by mutual vote. They shall serve a term of office of two years, and may continue to serve for subsequent terms if so elected. The Executive Directors shall assist the President and Vice President in superintending the Association’s operations and activities.
Article 14 (Auditors)
Auditors shall be appointed by the Board of Directors and approved in a General Assembly. The term of office of Auditors shall be two years; they may, however, continue to serve for subsequent terms if so appointed, for up to three consecutive terms. The Auditors shall audit the Association’s finances, operations and activities.
Article 15 (Advisors and Councilors)
Advisors and Councilors shall be appointed on the basis of the Board of Directors’ recommendations. Their number and term of office are not specified. The Advisors and Councilors shall advise the Board of Directors on matters of importance.
Article 16 (Board of Directors)
The Board of Directors shall be comprised of the President, Vice-President and Directors. The Assembly of the Board of Directors shall be able to be held with attendance of 2/3 members (11 members) or more, including letters of proxy. The Board of Directors shall deliberate on matters of importance pertinent to the Association’s administration. The Board of Directors may request the Auditors to attend its meetings, as deemed necessary.
Article 17 (Executive Directors Assembly)
The President may convene the Executive Directors’ Assembly, which is comprised of the President, Vice-President and Executive Directors.
Article 18 (General Assembly)
The President shall convene a General Assembly of the Association’s members once a year. The President may convene an ad-hoc General Assembly, as deemed necessary. The President shall convene an ad-hoc General Assembly when one fifth or more of the Association’s members claim a General Assembly with the presentation of objectives of such a meeting. General Assembly decisions shall be made by a majority vote of attending members. The General Assembly shall deliberate on the following matters:
  1. Revision of the Statutes
  2. Approval of accounting, reports and budgets of activities, activity plans etc.
  3. Changes in membership dues
  4. Dissolution of the Association
  5. Other matters as deemed necessary by the President
Article 19 (Association’s Journal)
The term of office of the Editor-in-Chief and the Deputy Editor of the Journal of the Association, ‘Journal of Behavioral Economics and Finance’ shall be four years.
Next term Editor-in-Chief and Deputy Editor shall be selected by the current Editor-in-Chief, Deputy Editor, President and Vice-President upon consultation, and are determined in the Assembly of the Board of Directors. Candidates must be Association members, and may continue to serve for subsequent terms if so appointed. Members of Editorial Board shall be elected by Editor-in-Chief and Deputy Editor upon consultation.

Chapter 5 Revision of Statutes and Dissolution of the Association

Article 20 (Revision of Statutes)
The present Statutes may be revised if so approved in a General Assembly.
Article 21 (Dissolution of the Association)
The Association cannot be dissolved unless approved by two-thirds of attending members of a General Assembly convened following a proposal by the Board of Directors or by one fifth or more of the Association’s members.

The present Statutes are drawn in Japanese and English. In case of dispute as to interpretation, meaning or translation, the registered Japanese version shall be considered as the definitive.