Updated on 2025/06/10

Information

 

写真a

 
YEH, TSUNG-MING
 
Organization
Faculty of Economics Department of Economic Engineering Professor
School of Economics Department of Economic Engineering（Concurrent）
Graduate School of Economics Department of Economic Engineering（Concurrent）
Title
Professor
External link

Research Areas

  • Humanities & Social Sciences / Money and finance

  • Humanities & Social Sciences / Business administration

Degree

  • PhD (Management)

Research Interests・Research Keywords

  • Research theme： Financial literacy

    Keyword： Financial literacy

    Research period： 2024

  • Research theme： 企業統治

    Keyword： 企業統治

    Research period： 2024

  • Research theme： M&A

    Keyword： M&A

    Research period： 2024

  • Research theme： ESG and Firm Value

    Keyword： ESG

    Research period： 2023.4

  • Research theme： Analysis of financial education, financial literacy and decision-making

    Keyword： financial literacy, financial education

    Research period： 2016.9 - 2021.3

  • Research theme： Economic analysis of corporate governance, restructuring and M&A

    Keyword： corporate governance, M&A, anti-takeover defense, shareholder proposal, restructuring

    Research period： 1997.4 - 2018.3

Awards

  • 台湾財務金融学会 研究論文賞

    2019.5   2019 International Conference of Taiwan Finance Association （台湾財務金融学会）  

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    論文"How financial literacy can contribute to retirement savings: an empirical research"

  • 国際ビジネス研究学会学会賞

    2013.11   国際ビジネス研究学会  

  • 日本経営財務究学会学会賞

    2013.10   日本経営財務究学会  

  • 経営行動科学学会・学会賞（研究奨励賞）

    2008.11   経営行動科学学会  

Papers

  • Financial Teaching by Parents and Financial Education at School or Workplace: Evidence from Japan Reviewed International journal

    @Tsung-ming Yeh

    Financial Services Review   2023.6

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    Language：English   Publishing type：Research paper (scientific journal)  

    This study investigates the differential roles of financial socialization within the family versus financial education at school or the workplace, using data from a representative sample of 25,000 Japanese individuals. The results indicate that different platforms may play different roles. While the adults’ short-term financial behaviors, which involve regular feedback and immediate consequences for deviation, are primarily related to their parent’s financial advising in childhood, long-term financial behaviors, which require complex planning and decision-making, are primarily related to financial education received at school or the workplace. The results also suggest the benefits of accumulating financial experiences and education in different stages.

  • Accounting Comparability and Earnings Management Strategies: Evidence from Southeast Asian Countries Reviewed International journal

    #Yeni Januarsi, Tsung-Ming Yeh

    Emerging Markets Finance and Trade   2022.5

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    Language：English   Publishing type：Research paper (scientific journal)  

    We examined the effect of accounting comparability on the use of accrual
    earnings management (AEM) and real earnings management (REM) among
    five members of the Association of Southeast Asian Nations. Analyzing 1,195
    listed non-financial companies from 2014 to 2017, we find that more comparable
    accounting information between firms induces managers to engage
    in more REM and less AEM, supporting the substitute hypothesis. The results
    remain similar under the robustness tests. Our results suggest that reporting
    and legal environment factors may affect cost-benefit considerations versus
    incentives for using earnings management strategies.

    DOI： 10.1080/1540496X.2022.2075258

    Other Link： https://doi.org/10.1080/1540496X.2022.2075258

  • Confidence in Financial Literacy, Stock Market Participation, and Retirement Planning Reviewed International journal

    Tsung-ming Yeh,@Yue Ling

    Journal of Family and Economic Issues   2021.5

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    Language：English   Publishing type：Research paper (scientific journal)  

    This study investigated whether overconfidence with respect to one’s financial literacy affects stock market participation and retirement preparation and if so, how. Using an effective sample of 12,653 Japanese individuals, the empirical results confirm that financial literacy plays a
    positive role, while confidence in financial literacy also matters. For people with relatively low financial literacy, overconfidence can encourage taking financial action, while for people with high financial literacy, underconfidence can deter action. Confidence could have an effect equal
    to or greater than financial literacy. Moreover, it was also found that the positive effect of overconfidence is weaker for women than for men.

    DOI： https://doi.org/10.1007/s10834-021-09769-1

    Repository Public URL： http://hdl.handle.net/2324/4798367

  • An empirical study on how financial literacy contributes to preparation for retirement Reviewed International journal

    Tsung-ming Yeh

    Journal of Pension Economics and Finance   2020.8

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    Language：English  

    This study provides empirical evidence on the mechanisms through which financial literacy may be associated with saving for retirement, in the three phases of the decision-making process—information perception, information search and evaluation, and decision-making and implementation. The results indicate that financial literacy has significantly positive effects on one’s awareness of post-retirement financial needs, comparing alternatives when purchasing financial products, displaying fewer present-time, and planning for and setting aside funds for retirement. Financial literacy not only directly contributes to planning for future, but also indirectly via a reduction in behavioral biases.

    DOI： 10.1017/S1474747220000281

    Repository Public URL： http://hdl.handle.net/2324/4485345

  • Determinants and consequences of shareholder proposals: The cases of board election, charter amendment, and profit disposal Reviewed

    Tsung-ming Yeh

    JOURNAL OF CORPORATE FINANCE   45   245 - 261   2017.8

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    Language：English   Publishing type：Research paper (scientific journal)  

    By investigating shareholder proposals in Japan during 2004-2013, this study aims to address the question whether exercising legally powerful shareholder rights has an impact on the management. Compared with their counterparts in the United States, Japanese shareholders are entitled to more statutory rights, including binding shareholder resolutions on issues relating to board election, charter amendment, and profit disposal. The empirical tests reveal several important results. First, different types of shareholder proposals are triggered by varying firm characteristics. Second, resolutions on the board election and charter amendments relating to corporate governance receive higher votes than those for profit disposal. Voting outcome is also positively associated with foreign shareholding, duration of the general meeting, and the firm's history of receiving proposals. Moreover, resolutions initiated by large shareholders have positive impacts on the target firms, which reported positive announcement-associated abnormal returns. Improvements in the operating performance are observed for firms passing board election resolutions and firms receiving charter amendment proposals from large shareholders. The management also increased share buyback and dividend payout in response to demands by large shareholders, although there was no significant change in the post-resolution operating performance. Overall, the results indicate that statutorily powerful shareholder rights, when exercised by large shareholders, can have a positive impact. (C) 2017 Elsevier B.V. All rights reserved.

    DOI： 10.1016/j.jcorpfin.2017.05.004

  • Do Private Equity Funds Increase Firm Value? Evidence from Japanese Leveraged Buyouts Reviewed International journal

    Tsung-ming Yeh

    Journal of Applied Corporate Finance   24 ( 4 )   2012.12

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    Language：English   Publishing type：Research paper (scientific journal)  

    Abstract

    The author summarizes the findings of his recent study of 62 buyouts of listed Japanese companies by both Japanese and “foreign” private equity funds that were transacted between 2000 and 2007. Roughly half of the author's sample of transactions were accomplished by means of takeover bids by PE funds, and such deals were transacted at prices that represented a premium (of roughly 12%) to current market values. Most of the other PE transactions were privately negotiated deals in which the purchase prices involved discounts (of about 15% on average) to current value. For both sets of deals, however, the announcements of such buyouts were associated, on average, with a significantly positive stock market reaction.
    By the cutoff date of the study (May 2010), 30 of the 62 acquired firms had realized “exits.” Those companies (though not the others) experienced significant average improvements in operating performance; and the extent of such improvements were roughly consistent with the size of the positive market reaction to the buyout announcements. The test results suggest that the value increases can be attributed to the more efficient use of assets and reduction of operating costs. Meanwhile, there was no evidence suggesting that the acquired firms cut back on their research and development, capital investments, or employee wages and growth. What's more, examination of the operating performance of the 30 companies after their exits showed no deterioration in profitability or investment spending.

    DOI： 10.1111/j.1745-6622.2012.00405.x

  • The Effect of IFRS Adoption on Acquisition Premiums: Evidence from Selected ASEAN Countries International coauthorship International journal

    Yeni Januarsi and Tsung-ming Yeh

    HANDBOOK OF FINANCIAL ECONOMETRICS, STATISTICS, TECHNOLOGY, AND RISK MANAGEMENT   4114 - 4138   2025.5

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    Language：English   Publisher：World Scientific Publishing Co Pte Ltd  

    DOI： https://doi.org/10.1142/9789819809950_0126

  • Governance, Risk Taking and Default Risk during the Financial Crisis: the Evidence of Japanese Regional Banks Reviewed International journal

    Tsung-ming Yeh

    Corporate Governance: The International Journal of Business in Society   17 ( 2 )   2017.4

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    Language：English   Publishing type：Research paper (scientific journal)  

    DOI： 10.1108/CG-02-2016-0027

  • Large Shareholders, Shareholder Proposals, and Firm Performance: Evidence from Japan Reviewed

    Tsung-Ming Yeh

    CORPORATE GOVERNANCE-AN INTERNATIONAL REVIEW   22 ( 4 )   312 - 329   2014.7

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    Language：English   Publishing type：Research paper (scientific journal)  

    Manuscript Type: Empirical
    Research Question/Issue: Previous studies, primarily based on evidence from the United States, fail to link shareholder activism to firm performance, with one explanatory factor being that the legal and regulatory system in the United States limits the anti-director rights of shareholders. This study is motivated by the question of whether legally binding shareholder resolutions can pressure management to improve firm performance and to enhance firm value.
    Research Findings/Insights: By investigating 135 publicly listed Japanese firms which received shareholder resolutions from 2004 to 2010, this study finds supportive evidence for shareholder proposals. Announcement-associated abnormal returns are higher for firms receiving election-related proposals by large sponsors, than those unrelated to board election. Furthermore, an improving trend begins to appear in the post-resolution year, particularly significant for firms receiving proposals to remove board members.
    Theoretical/Academic Implications: This study provides new evidence suggesting that large shareholder activism in Corporate Japan can perform roles that used to be played by main banks before the 1990s. It also suggests that in countries where there is no active takeover market, large shareholders can effectively discipline entrenched management through active engagement.
    Practitioner/Policy Implications: This study offers insights to corporate managers on the importance of communicating with large shareholders and addressing their concerns.

    DOI： 10.1111/corg.12052

  • The effects of anti-takeover measures on Japanese corporations Reviewed International journal

    Tsung-ming Yeh

    Review of Quantitative Finance and Accounting   42 ( 2 )   2014.5

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    Language：English   Publishing type：Research paper (scientific journal)  

    DOI： 10.1007/s11156-013-0361-0

  • 日本企業の欧州での企業買収効果と買収先の法制度との関係について Reviewed

    葉 聰明

    国際ビジネス研究   2 ( 2 )   2010.9

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    Language：Japanese   Publishing type：Research paper (scientific journal)  

    The Effect of Legal Systems on the Performance of Japanese Buyouts in Europe

  • スキーインターハイが開催地域にもたらす経済効果の推計：秋田県鹿角花輪インターハイを事例として Reviewed

    加藤清孝, 葉 聰明

    スポーツマネジメント研究   2 ( 1 )   2010.2

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    Language：Japanese   Publishing type：Research paper (scientific journal)  

    Estimating the Impact of the Inter-High School Ski Championship on the Host City's Economy

  • プロバスケットボールクラブ設立が地方都市にもたらす経済効果の推計―bjリーグクラブ 設立を目指す秋田県を事例として Reviewed

    加藤清孝, 葉 聰明

    スポーツ産業学研究   19 ( 1 )   2009.11

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    Language：Japanese   Publishing type：Research paper (scientific journal)  

    The Impact of the Proposed Professional Basketball Club on Akita Economy

  • 台湾企業の大株主支配，ディスクロージャーと企業価値に関する実証分析 Reviewed

    葉 聰明

    経営行動科学   21 ( 2 )   2008.8

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    Language：Japanese   Publishing type：Research paper (scientific journal)  

    The Controlling Shareholders, Disclosure and Firm Value: An Analysis of Taiwanese Firms

  • Bank Directorship and Bidder’s Returns in Japanese Takeovers Reviewed

    Tsung-ming Yeh

    経営行動科学（Japanese Journal of Administrative Science）   20 ( 2 )   2007.6

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    Language：English   Publishing type：Research paper (scientific journal)  

  • The Impact of M&A on the Shareholders’ Wealth? From the Evidence of Taiwanese Corporations" Reviewed

    Tsung-ming Yeh

    The Developing Economies   40 ( 4 )   553 - 563   2002.12

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    Language：English   Publishing type：Research paper (scientific journal)  

    The impact of M&As on shareholder wealth: Evidence from Taiwanese corporations
    This study, using forty-six M&A events in Taiwan between 1987 and 1998, investigates the effects of M&As on shareholder wealth. The shareholders of the acquiring firms gain modestly positive abnormal returns around the announcement dates. We also distinguish M&As of different purposes, finding that M&As for technology-acquiring purposes are most favored by the market, while vertical M&As are detrimental to shareholder wealth.

  • Productivity and operating performance of Japanese merging firms: Keiretsu-related and independent mergers Reviewed

    Tsung-ming Yeh, @Yasuo Hoshino

    JAPAN AND THE WORLD ECONOMY   14 ( 3 )   347 - 366   2002.8

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    Language：English   Publishing type：Research paper (scientific journal)  

    This paper aims to investigate the effects of mergers on the firms' operating performance and the Keiretsu's roles in the performance variation. This is motivated by the contradicting arguments whether Japanese Keiretsu can effectively control agency conflicts and increase firm efficiency. Examining 86 Japanese corporate mergers completed from 1970 to 1994, we found that: (1) Japanese mergers failed to improve the firm efficiency, and even caused deterioration in the firms' operating performances; (2) the Keiretsu relationship was particular detrimental to the merging firms' post-merger performance. (C) 2002 Elsevier Science B.V. All rights reserved.

    DOI： 10.1016/S0922-1425(01)00081-0

  • Shareholders' Wealth, Bank Control, and Large Shareholders - An Analysis of Japanese Mergers Reviewed

    Tsung-ming Yeh, Yasuo Hoshino

    経営財務研究   21 ( 2 )   2001.12

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    Language：English   Publishing type：Research paper (scientific journal)  

  • The Effects of Mergers and Acquisitions on Taiwanese Corporations Invited Reviewed International journal

    Tsung-ming Yeh, Yasuo Hoshino

    Review of Pacific Basin Financial Markets and Policies   3 ( 2 )   2000.6

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    Language：English   Publishing type：Research paper (scientific journal)  

    DOI： 10.1142/S0219091500000108

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Books

  • 経営行動科学ハンドブック

    葉聰明

    2011.10 

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    Language：Japanese  

  • 日本企業の合併買収と企業統治

    葉聰明（Role：Sole author）

    白桃書房  2011.10 

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    Language：Japanese   Book type：Scholarly book

    M&A and Corporate Governance in Japan

  • 台湾のコーポレートガバナンスと企業価値

    葉聰明（Role：Sole author）

    白桃書房  2008.8 

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    Language：Japanese   Book type：Scholarly book

    Corporate Governance and Firm Value in Taiwan

Presentations

  • How financial literacy can contribute to retirement savings: an empirical research International conference

    Tsung-ming Yeh

    2019 International Conference of Taiwan Finance Association  2019.5 

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    Event date： 2019.5

    Language：English   Presentation type：Oral presentation (general)  

    Venue：National Taiwan University   Country：Taiwan, Province of China  

    This study aims to provide empirical evidence on the mechanisms through which financial literacy may be associated with the behaviors of saving for retirement, in the three phases of decision-making process – information perception, information search and evaluation, and decision-making and implementation. Empirical results indicate that, after accounting for various control variables, financial literacy has significantly positive effects on one’s awareness of post-retirement financial needs, comparing with alternative products when making significant financial decisions, displaying less behavioral biases, planning for and successfully securing post-retirement funds, and experiencing fewer financial disputes. The results can provide explanations for the findings of previous studies as to why people with higher financial literacy accumulate greater net wealth, make wiser financial decisions, or are more likely to invest in the stock market.

  • Digital financial literacy and financial behaviors: Evidence from Japan

    Financial Literacy Workshop  

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    Event date： 2025.3

    Venue：京都産業大学  

  • The Impact of ESG Practice on Firm Value and the Moderating Effect of Financial Constraints International conference

    2024 International Conference of Taiwan Finance Association  2024.6 

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    Event date： 2024.6

    Country：Taiwan, Province of China  

  • The Impact of ESG Practice on Firm Value: Evidence from China International conference

    @Tsung-ming Yeh

    Asia Sustainability andESG Summit  2023.8 

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    Event date： 2023.8

    Language：English   Presentation type：Oral presentation (general)  

    Venue：BANGKOK   Country：Thailand  

  • Financial Literacy, Financial Education, and Financial Well-being during the COVID-19 Pandemic: Evidence from Japan” International conference

    @Tsung-ming Yeh

    The 14th Biennial Conference of Asian Consumer and Family Economics Association  2023.7 

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    Event date： 2023.7

    Language：English   Presentation type：Oral presentation (general)  

    Venue：日本北九州市   Country：Japan  

  • Financial literacy, financial education, and financial well-being during the COVID-19 pandemic: Evidence from Japan International conference

    @Tsung-ming Yeh

    2023 International Conference of Taiwan Finance Association  2023.6 

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    Event date： 2023.6

    Language：English   Presentation type：Oral presentation (general)  

    Venue：Taichung   Country：Taiwan, Province of China  

  • The Effect of IFRS Adoption on Equity Acquisition Premiums: Evidence from Selected ASEAN Countries International conference

    #Yeni Januarsi, Tsung-ming Yeh

    The 30th Annual Conference on Pacific Basin Finance, Economics, Accounting and Management  2022.5 

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    Event date： 2022.5

    Language：English   Presentation type：Oral presentation (general)  

    Venue：Online   Country：Japan  

  • The effect of financial education at home, school, or workplace on financial behaviors International conference

    Tsung-ming Yeh

    JFA-PBFJ Special Issue Conference  2022.3 

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    Event date： 2022.3

    Language：English   Presentation type：Oral presentation (general)  

    Venue：Online   Country：Japan  

  • Accounting Comparability and Earnings Management Switch-off: Evidence from ASEAN Countries International conference

    #Yeni Januarsi, Tsung-Ming Yeh

    The 29th Annual Conference on Pacific Basin Finance, Economics, Accounting and Management  2021.9 

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    Event date： 2021.9

    Language：English   Presentation type：Oral presentation (general)  

    Venue：Online   Country：Japan  

  • Accounting Comparability and Earnings Management Switch-off: Evidence from ASEAN Countries

    #Yeni Januarsi, Tsung-ming Yeh

    Kyushu University Finance Workshop  2021.1 

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    Event date： 2021.1

    Language：English   Presentation type：Oral presentation (general)  

    Venue：Online   Country：Japan  

  • An Empirical Analysis of Private Equity Buyouts via Private Investment in Public Equity vs. Tender International conference

    Tsung-ming Yeh

    32 Australasian Finance and Banking Conference  2019.12 

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    Event date： 2019.12

    Language：English   Presentation type：Oral presentation (general)  

    Venue：Sydney   Country：Australia  

  • An Empirical Analysis of Private Equity Buyouts via Private Investment in Public Equity vs. Tender Offer International conference

    Tsung-ming Yeh

    28th Conference on the Theories and Practices of Securities and Financial Markets  2019.12 

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    Event date： 2019.12

    Language：English   Presentation type：Oral presentation (general)  

    Venue：National Sun Yat-sen University   Country：Taiwan, Province of China  

  • An Empirical Analysis of Private Equity Buyouts via Private Investment in Public Equity vs. Tender Offer International conference

    Tsung-ming Yeh

    2019 International Corporate Governance Society Conference  2019.10 

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    Event date： 2019.10

    Language：English   Presentation type：Oral presentation (general)  

    Venue：University of Essex   Country：United Kingdom  

  • How financial literacy can contribute to retirement savings: an empirical research Invited International conference

    Tsung-ming Yeh

    2019 National Taiwan Normal University (NTNU)-Kyushu University (Kyushu U) Joint Forum on Facilitating Interdisciplinary Research and Education  2019.5 

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    Event date： 2019.5

    Language：English   Presentation type：Oral presentation (general)  

    Venue：台湾師範大学   Country：Taiwan, Province of China  

  • How financial literacy can contribute to retirement savings: an empirical research Invited

    Tsung-ming Yeh

    アジア成長研究所セミナー  2019.2 

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    Event date： 2019.5

    Language：English   Presentation type：Oral presentation (general)  

    Venue：アジア経済研究所，北九州市   Country：Japan  

  • Do Institutional and CulturalDistances Matter in Cross-border Investments?（制度・文化距離とクロスボーダー投資に関する実証研究）

    Tsung-ming Yeh

    国際ビジネス研究学会  2018.11 

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    Event date： 2019.5

    Language：Japanese   Presentation type：Oral presentation (general)  

    Venue：早稲田大学   Country：Japan  

  • How Financial Literacy Can Contribute to Retirement Savings: An Empirical Research International conference

    Tsung-ming Yeh

    31st Australasian Finance and Banking Conference  2018.12 

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    Event date： 2019.5

    Language：English   Presentation type：Oral presentation (general)  

    Venue：Sydney   Country：Australia  

  • How financial literacy can contribute to retirement savings: an empirical research International conference

    Tsung-ming Yeh

    27th Conference on the Theories and Practices of Securities and Financial Markets  2018.12 

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    Event date： 2019.5

    Language：English   Presentation type：Oral presentation (general)  

    Venue：National Sun Yat-sen University   Country：Taiwan, Province of China  

  • The Modes of Buyouts: Tender Offer versus Private Placement of Equity International conference

    Tsung-ming Yeh

    Asian Finance Association  2018.6 

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    Event date： 2018.6

    Language：English   Presentation type：Oral presentation (general)  

    Venue：Tokyo   Country：Japan  

  • The Modes of Buyouts and Private Benefits of Control International conference

    葉聰明

    International Conference and Annual Meeting of Taiwan Finance Association  2018.5 

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    Event date： 2018.5

    Language：English  

    Venue：National Chen-Chi University   Country：Taiwan, Province of China  

  • Private Equity Buyouts and Private Benefits of Control International conference

    葉聰明

    25th Annual Conference on Pacific Basin Finance, Economics, Accounting, and Management  2017.11 

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    Event date： 2017.11

    Language：English  

    Venue：Grand Copthorne Waterfront Hotel   Country：Singapore  

  • Private Equity Buyouts and Private Benefits of Control

    葉聰明

    日本経営財務研究学会  2017.9 

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    Event date： 2017.9

    Language：English  

    Venue：関西大学   Country：Japan  

  • The Effect of Takeover Defenses on the Japanese Firms’ Value International conference

    葉聰明

    The 19th Annual Conference on PBFEAM 第十九屆亞太財務經濟會計及管理會議  2011.7 

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    Language：English  

    Venue：台湾台北   Country：Other  

    The Effect of Takeover Defenses on the Japanese Firms’ Value

  • 買収ファンドは日本企業の企業価値を向上させるのか

    葉聰明

    日本経営財務研究学会第35回全国大会  2011.10 

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    Language：Japanese  

    Venue：大阪市立大学   Country：Other  

  • Do buyouts by equity funds enhance firm value in Japan?Rutgers University International conference

    葉聰明

    The 20th Annual Conference on PBFEAM  2012.9 

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    Language：English  

    Country：Other  

    Do buyouts by equity funds enhance firm value in Japan?Rutgers University

  • The Effects of the Shareholder Activism in the Form of Shareholder Proposal: Evidence from Japanese Companies

    葉聰明

    ：日本経営財務研究学会第35回全国大会  2012.10 

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    Language：Japanese  

    Country：Other  

    The Effects of the Shareholder Activism in the Form of Shareholder Proposal: Evidence from Japanese Companies

  • The Effects of the Shareholder Activism in the Form of Shareholder Proposal: Evidence from Japanese Companies International conference

    葉聰明

    The 8th International Conference on Asian Financial Markets and Economic Development  2012.11 

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    Language：English  

    Country：Other  

    The Effects of the Shareholder Activism in the Form of Shareholder Proposal: Evidence from Japanese Companies

  • Large Shareholders, Shareholder Proposals, and Firm Performance: Evidence from Japan International conference

    葉聰明

    The 21th Annual Conference on PBFEAM  2013.7 

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    Language：English  

    Country：Other  

    Large Shareholders, Shareholder Proposals, and Firm Performance: Evidence from Japan

  • Corporate Governance in Taiwan and Japan Invited International conference

    葉聰明

    愛知大学国際問題研究所第四回講演会  2014.3 

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    Language：English  

    Country：Other  

    Corporate Governance in Taiwan and Japan

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MISC

  • 「台湾と日本のコーポレートガバナンスへの考察」

    葉聰明

    交流   2013.2

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    Language：Japanese  

  • 台湾での秋田PRの現状と秋田の今後の課題に関する調査

    葉聰明

    『あきた経済』   2007.3

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    Language：Japanese  

Works

  • ひらめき☆ときめきサイエンス～ようこそ大学の研究室へ～KAKENHI（研究成果の社会還元・普及事業）『株式投資で社会貢献をしよう』

    2010

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Professional Memberships

  • Japanese Association of Administrative Science

    - 2025.5

  • Nippon Finance Association

    - 2025.5

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  • Japan Finance Association

  • Japan Academy of international Business Studies

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  • Taiwan Finance Association

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Committee Memberships

  • 評議員   Councilor   Domestic

    2019.10 - 2022.9   

  • 経営行動科学学会   理論方法研究部会長  

    2016.4 - Present   

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    Committee type：Academic society

    researchmap

  • 理論・方法研究部会長   理論・方法研究部会長   Domestic

    2016.4 - 2020.3   

Academic Activities

  • Screening of academic papers

    Role(s)： Peer review

    2024

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    Type：Peer review 

  • Screening of academic papers

    Role(s)： Peer review

    2023

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    Type：Peer review 

    Number of peer-reviewed articles in foreign language journals：1

    Number of peer-reviewed articles in Japanese journals：1

  • 日本経営財務

    2022.12 - 2023.11

    　More details

    Type：Academic society, research group, etc. 

  • Program Co-chair International contribution

    JFA－PBFJ Special Issue Conference  （ ONLINE Japan ） 2022.3

    　More details

    Type：Competition, symposium, etc. 

  • Screening of academic papers

    Role(s)： Peer review

    2021

    　More details

    Type：Peer review 

    Number of peer-reviewed articles in foreign language journals：4

    Proceedings of International Conference Number of peer-reviewed papers：10

  • 科学研究費委員会専門委員

    Role(s)： Review, evaluation

    日本学術振興会  2020.12 - 2021.11

    　More details

    Type：Scientific advice/Review 

  • その他

    日本経営財務研究学会西日本部会研究会  （ Japan ） 2020.8

    　More details

    Type：Competition, symposium, etc. 

  • Screening of academic papers

    Role(s)： Peer review

    2020

    　More details

    Type：Peer review 

    Number of peer-reviewed articles in foreign language journals：3

    Number of peer-reviewed articles in Japanese journals：2

    Proceedings of International Conference Number of peer-reviewed papers：0

    Proceedings of domestic conference Number of peer-reviewed papers：7

  • その他 International contribution

    The 3２nd Australasian Finance and Banking Conference (AFBC)  （ Sydney Australia Australia ） 2019.12

    　More details

    Type：Competition, symposium, etc. 

  • 科学研究費委員会専門委員

    Role(s)： Review, evaluation

    日本学術振興会  2019.12 - 2020.11

    　More details

    Type：Scientific advice/Review 

  • 科学研究費委員会専門委員

    Role(s)： Review, evaluation

    日本学術振興会  2018.12 - 2019.11

    　More details

    Type：Scientific advice/Review 

  • 企業統治と会社法の経済学（上場企業における株主提案に関する経済分析）

    2018.12 - 2019.3

    　More details

    Type：Academic society, research group, etc. 

  • Screening of academic papers

    Role(s)： Peer review

    2018

    　More details

    Type：Peer review 

    Number of peer-reviewed articles in foreign language journals：3

    Number of peer-reviewed articles in Japanese journals：0

    Proceedings of International Conference Number of peer-reviewed papers：1

    Proceedings of domestic conference Number of peer-reviewed papers：0

  • 科学研究費委員会専門委員

    Role(s)： Review, evaluation

    日本学術振興会  2014.11 - 2015.11

    　More details

    Type：Scientific advice/Review 

  • 経営行動科学ハンドブック

    2011.4 - 2012.3

    　More details

    Type：Academic society, research group, etc. 

  • 経営行動科学

    2008.4 - Present

    　More details

    Type：Academic society, research group, etc. 

  • 経営行動科学

    Role(s)： Review, evaluation

    2008.4

    　More details

    Type：Peer review 

    researchmap

▼display all

Research Projects

  • クロスボーダーM&Aと文化的要因～文化的距離，時間選好，リスク選好の影響について

    Grant number：22K01555  2022 - 2024

    Japan Society for the Promotion of Science  Grants-in-Aid for Scientific Research  Grant-in-Aid for Scientific Research (C)

    　 More details

    Authorship：Principal investigator  Grant type：Scientific research funding

  • 財務意思決定における金融リテラシーの役割とメカニズムへの解明

    2021

    トランスコスモス財団・2021年度 研究助成

    　 More details

    Authorship：Principal investigator  Grant type：Contract research

  • トランスコスモス財団・2021年度研究助成/財務意思決定における金融リテラシーの役割とメカニズムへの解明

    2021

    　 More details

    Grant type：Donation

  • コーポレートガバナンスと経験：新しいデータ構築と実証的解明への挑戦

    Grant number：19H01507  2019 - 2022

    Japan Society for the Promotion of Science  Grants-in-Aid for Scientific Research  Grant-in-Aid for Scientific Research (B)

    　 More details

    Authorship：Coinvestigator(s)  Grant type：Scientific research funding

  • クロスボーダー投資の効果における文化・制度・心理距離の影響に関する実証分析

    2019 - 2020

    村⽥学術振興財団研究助成

    　 More details

    Authorship：Principal investigator  Grant type：Contract research

  • 経済リテラシー，行動バイアス，および財務行為との関係に関する研究

    2019 - 2020

    野村財団社会科学研究助成

    　 More details

    Authorship：Principal investigator  Grant type：Contract research

  • 村田学術振興財団研究助成

    2019

    　 More details

    Grant type：Donation

  • 野村財団社会科学研究助成

    2019

    　 More details

    Grant type：Donation

  • An Empirical Analysis of Private Equity Buyouts via PIPE vs TOB

    2019

    令和元年度研究活動基礎支援制度「国際学会派遣支援」

    　 More details

    Authorship：Principal investigator  Grant type：On-campus funds, funds, etc.

  • 日本における金融リテラシーとファイナンシャル意思決定の関係についての研究

    2017 - 2020

    Japan Society for the Promotion of Science  Grants-in-Aid for Scientific Research  Grant-in-Aid for Scientific Research (C)

    　 More details

    Authorship：Principal investigator  Grant type：Scientific research funding

  • 日本における金融リテラシーとファイナンシャル意思決定に関する実証研究

    2017 - 2018

    野村マネジメントスクール研究助成

    　 More details

    Authorship：Principal investigator  Grant type：Contract research

  • 野村マネジメントスクール研究助成・日本における金融リテラシーとファイナンシャル意思決定に関する実証研究

    2017

    　 More details

    Grant type：Donation

  • Private Equity Buyouts and Private Benefits of Control

    2017

    平成２９年度研究活動基礎支援制度「国際学会派遣支援」

    　 More details

    Authorship：Principal investigator  Grant type：On-campus funds, funds, etc.

  • 機関投資家のガバナンス介入や買収防衛策の導入に関する実証研究：日本企業を中心に

    2013 - 2016

    Japan Society for the Promotion of Science  Grants-in-Aid for Scientific Research  Grant-in-Aid for Scientific Research (C)

    　 More details

    Authorship：Principal investigator  Grant type：Scientific research funding

  • 『機関投資家のガバナンス介入や買収防衛策の導入に関する実証研究：日本企業を中心に』

    2013 - 2016

    Japan Society for the Promotion of Science  Grants-in-Aid for Scientific Research  Grant-in-Aid for Scientific Research (C)

    　 More details

    Authorship：Principal investigator  Grant type：Scientific research funding

  • 日本企業の合併買収と企業統治

    2011

    Japan Society for the Promotion of Science  Grants-in-Aid for Scientific Research  Grant-in-Aid for Publication of Scientific Research Results

    　 More details

    Authorship：Principal investigator  Grant type：Scientific research funding

  • 日本のコーポレートガバナンスにおける機関投資家の役割に関する実証研究

    2010 - 2012

    Grants-in-Aid for Scientific Research  Grant-in-Aid for Young Scientists (B)

    　 More details

    Authorship：Principal investigator  Grant type：Scientific research funding

  • 日本のコーポレートガバナンスにおける機関投資家の役割に関する実証研究

    2010 - 2012

    Japan Society for the Promotion of Science  Grants-in-Aid for Scientific Research  Grant-in-Aid for Scientific Research (C)

    　 More details

    Authorship：Principal investigator  Grant type：Scientific research funding

  • 日本のM&A市場と企業統治の関係についての実証研究

    2007 - 2008

    Japan Society for the Promotion of Science  Grants-in-Aid for Scientific Research  Grant-in-Aid for Scientific Research (C)

    　 More details

    Authorship：Principal investigator  Grant type：Scientific research funding

  • 日本のM&A市場と企業統治の関係についての実証研究

    2007 - 2008

    Grants-in-Aid for Scientific Research  Grant-in-Aid for Young Scientists (B)

    　 More details

    Authorship：Principal investigator  Grant type：Scientific research funding

  • 国際合併・買収と企業価値：日本企業の場合

    2004

    Japan Society for the Promotion of Science  Grants-in-Aid for Scientific Research  Grant-in-Aid for Scientific Research (C)

    　 More details

    Grant type：Scientific research funding

  • 『国際合併・買収と企業価値：日本企業の場合』

    2004

    （台湾）国家科学委員会補助

    　 More details

    Authorship：Principal investigator  Grant type：Contract research

  • 日本と台湾の企業合併・買収に関する比較分析

    1999 - 2002

    Japan Society for the Promotion of Science  Grants-in-Aid for Scientific Research  Grant-in-Aid for Scientific Research (C)

    　 More details

    Grant type：Scientific research funding

▼display all

Class subject

  • （IP）Japanese Economy

    2024.12 - 2025.2   Winter quarter

  • （IP）Topics in Economics2 (Corporate Governance) (FBE)

    2024.10 - 2025.3   Second semester

  • （IP）Finance (FBE)

    2024.10 - 2025.3   Second semester

  • 企業経済分析特研Ⅱ

    2024.10 - 2025.3   Second semester

  • ファイナンス

    2024.10 - 2025.3   Second semester

  • 応用ファイナンス

    2024.10 - 2025.3   Second semester

  • 経済工学演習③

    2024.4 - 2025.3   Full year

  • 経済工学演習④

    2024.4 - 2025.3   Full year

  • 現代経済事情

    2024.4 - 2024.9   First semester

  • （IP）Business Economics (FBE)

    2024.4 - 2024.9   First semester

  • 企業経済分析特研Ⅰ

    2024.4 - 2024.9   First semester

  • 企業経済学

    2024.4 - 2024.9   First semester

  • （IP）Finance (FBE)

    2023.10 - 2024.3   Second semester

  • （IP）Topics in Economics2 (Corporate Governance) (FBE)

    2023.10 - 2024.3   Second semester

  • ファイナンス

    2023.10 - 2024.3   Second semester

  • 企業経済分析特研Ⅱ

    2023.10 - 2024.3   Second semester

  • 応用ファイナンス

    2023.10 - 2024.3   Second semester

  • 経済工学プレセミナー

    2023.6 - 2023.8   Summer quarter

  • 経済工学演習②

    2023.4 - 2024.3   Full year

  • 経済工学演習②

    2023.4 - 2024.3   Full year

  • 経済工学演習①

    2023.4 - 2024.3   Full year

  • 経済工学演習①

    2023.4 - 2024.3   Full year

  • Supervision for Master's Thesis

    2023.4 - 2024.3   Full year

  • 現代経済事情

    2023.4 - 2023.9   First semester

  • （IP）Business Economics (FBE)

    2023.4 - 2023.9   First semester

  • 企業経済分析特研Ⅰ

    2023.4 - 2023.9   First semester

  • 企業経済学

    2023.4 - 2023.9   First semester

  • Finance

    2022.10 - 2023.3   Second semester

  • Topics in Economics2 (Corporate Governance) (FBE)

    2022.10 - 2023.3   Second semester

  • ファイナンス

    2022.10 - 2023.3   Second semester

  • 企業経済分析特研Ⅱ

    2022.10 - 2023.3   Second semester

  • 応用ファイナンス

    2022.10 - 2023.3   Second semester

  • 基幹教育セミナー

    2022.6 - 2022.8   Summer quarter

  • 経済工学演習④

    2022.4 - 2023.3   Full year

  • 経済工学演習③

    2022.4 - 2023.3   Full year

  • 経済工学演習④

    2022.4 - 2023.3   Full year

  • 経済工学演習③

    2022.4 - 2023.3   Full year

  • Supervision for Doctoral Thesis

    2022.4 - 2023.3   Full year

  • 現代経済事情

    2022.4 - 2022.9   First semester

  • Business Economics (FBE)

    2022.4 - 2022.9   First semester

  • 企業経済分析特研Ⅰ

    2022.4 - 2022.9   First semester

  • 外国書講読１(英語経済）⑤

    2022.4 - 2022.6   Spring quarter

  • 外国書講読１(英語経済）④

    2022.4 - 2022.6   Spring quarter

  • 外国書講読１(英語経済）③

    2022.4 - 2022.6   Spring quarter

  • 外国書講読１(英語経済）②

    2022.4 - 2022.6   Spring quarter

  • 外国書講読１(英語経済）①

    2022.4 - 2022.6   Spring quarter

  • Finance

    2021.10 - 2022.3   Second semester

  • 応用ファイナンス

    2021.10 - 2022.3   Second semester

  • 現代経済事情

    2021.10 - 2022.3   Second semester

  • Topics in Economics2(Corporate Governance)

    2021.10 - 2022.3   Second semester

  • ファイナンス

    2021.10 - 2022.3   Second semester

  • 企業経済分析特研Ⅱ

    2021.10 - 2022.3   Second semester

  • 経済工学基礎セミナー

    2021.10 - 2021.12   Fall quarter

  • 経済工学演習①

    2021.4 - 2022.3   Full year

  • 経済工学演習②

    2021.4 - 2022.3   Full year

  • 企業経済学

    2021.4 - 2021.9   First semester

  • Business Economics

    2021.4 - 2021.9   First semester

  • 企業経済分析特研Ⅰ

    2021.4 - 2021.9   First semester

  • 企業経済分析特研Ⅱ

    2020.10 - 2021.3   Second semester

  • 現代経済事情

    2020.10 - 2021.3   Second semester

  • 課題協学科目

    2020.10 - 2021.3   Second semester

  • 課題協学科目

    2020.10 - 2021.3   Second semester

  • 課題協学科目

    2020.10 - 2021.3   Second semester

  • Topics in Economics2(Corporate Governance)

    2020.10 - 2021.3   Second semester

  • 経済工学プレセミナー

    2020.6 - 2020.8   Summer quarter

  • Supervision for Master's Thesis

    2020.4 - 2021.3   Full year

  • 経済工学演習④

    2020.4 - 2021.3   Full year

  • 経済工学演習③

    2020.4 - 2021.3   Full year

  • 経済工学演習④

    2020.4 - 2021.3   Full year

  • 経済工学演習③

    2020.4 - 2021.3   Full year

  • Supervision for Master's Thesis

    2020.4 - 2021.3   Full year

  • 企業経済分析特研Ⅰ

    2020.4 - 2020.9   First semester

  • Business Economics

    2020.4 - 2020.9   First semester

  • 企業経済分析特研Ⅱ

    2019.10 - 2020.3   Second semester

  • Topics in Economics (Corporate Governance)

    2019.10 - 2020.3   Second semester

  • 経済工学プレセミナー

    2019.6 - 2019.8   Summer quarter

  • Supervision for Master's Thesis

    2019.4 - 2020.3   Full year

  • Research Workshop

    2019.4 - 2020.3   Full year

  • リサーチ・ワークショップ

    2019.4 - 2020.3   Full year

  • 経済工学演習②

    2019.4 - 2020.3   Full year

  • 経済工学演習①

    2019.4 - 2020.3   Full year

  • 企業経済学

    2019.4 - 2019.9   First semester

  • 現代経済事情

    2019.4 - 2019.9   First semester

  • Topics in Economics (Business Economics)

    2019.4 - 2019.9   First semester

  • 企業経済分析特研Ⅰ

    2019.4 - 2019.9   First semester

  • Research Workshop

    2018.10 - 2019.3   Second semester

  • Topics in Economics (Corporate Governance)

    2018.10 - 2019.3   Second semester

  • 企業経済分析特研Ⅱ

    2018.10 - 2019.3   Second semester

  • 企業経済分析特研Ⅱ

    2018.10 - 2019.3   Second semester

  • 経済工学基本演習

    2018.10 - 2019.3   Second semester

  • 経済工学演習③

    2018.4 - 2019.3   Full year

  • Research Workshop

    2018.4 - 2019.3   Full year

  • リサーチ・ワークショップⅢ

    2018.4 - 2019.3   Full year

  • 経済工学演習④

    2018.4 - 2019.3   Full year

  • 企業経済学

    2018.4 - 2018.9   First semester

  • 現代経済事情

    2018.4 - 2018.9   First semester

  • Topics in Economics (Business Economics)

    2018.4 - 2018.9   First semester

  • 企業経済分析特研Ⅰ

    2018.4 - 2018.9   First semester

  • 経済工学特別演習

    2018.4 - 2018.9   First semester

  • 経済工学基本演習

    2017.10 - 2018.3   Second semester

  • Topics in Economics (Corporate Governance)

    2017.10 - 2018.3   Second semester

  • 企業経済分析特研Ⅱ

    2017.10 - 2018.3   Second semester

  • 経済工学演習①

    2017.4 - 2018.3   Full year

  • Research Workshop

    2017.4 - 2018.3   Full year

  • 経済工学演習②

    2017.4 - 2018.3   Full year

  • 企業経済学

    2017.4 - 2017.9   First semester

  • 現代経済事情

    2017.4 - 2017.9   First semester

  • Topics in Economics (Business Economics)

    2017.4 - 2017.9   First semester

  • 企業経済分析特研Ⅰ

    2017.4 - 2017.9   First semester

▼display all

FD Participation

  • 2023.11   Role：Participation   Title：九州大学の研究データ管理サービス

    Organizer：[Undergraduate school/graduate school/graduate faculty]

  • 2023.2   Role：Participation   Title：教育の機会均等と合理的配慮の「適当性」

    Organizer：[Undergraduate school/graduate school/graduate faculty]

  • 2022.10   Role：Participation   Title：経済学研究院FD研修会

    Organizer：[Undergraduate school/graduate school/graduate faculty]

  • 2021.9   Role：Participation   Title：経済学研究院FD研修会

    Organizer：[Undergraduate school/graduate school/graduate faculty]

  • 2021.7   Role：Participation   Title：COILとは

    Organizer：University-wide

  • 2020.10   Role：Participation   Title：経済学部FD研修会

    Organizer：[Undergraduate school/graduate school/graduate faculty]

  • 2020.7   Role：Participation   Title：経済学部FD研修会.

    Organizer：[Undergraduate school/graduate school/graduate faculty]

  • 2019.11   Role：Participation   Title：経済学研究院ファカルティディベロップメント

    Organizer：[Undergraduate school/graduate school/graduate faculty]

  • 2019.7   Role：Participation   Title：教育ファカルティディベロップメント

    Organizer：[Undergraduate school/graduate school/graduate faculty]

  • 2018.10   Role：Participation   Title：MOODLEにおける学生評価の導入について

    Organizer：[Undergraduate school/graduate school/graduate faculty]

  • 2018.6   Role：Participation   Title：新入試QUBE説明会

    Organizer：University-wide

  • 2018.6   Role：Participation   Title：２０１７年度学生・教員アンケート『分析と提言』」

    Organizer：[Undergraduate school/graduate school/graduate faculty]

  • 2017.12   Role：Participation   Title：【ＦＤ・ＳＤオープンセミナー】１２月７日（木）１５時～「魅力ある短期留学プログラムをつくる」

    Organizer：University-wide

  • 2017.11   Role：Participation   Title：経済学研究院FD研修会（2017年11月1日　13：00～14：30）　「九州大学の国際戦略」

    Organizer：[Undergraduate school/graduate school/graduate faculty]

▼display all

Visiting, concurrent, or part-time lecturers at other universities, institutions, etc.

  • 2024  国際教養大学  Classification:Affiliate faculty  Domestic/International Classification:Japan 

    Semester, Day Time or Duration：前期

  • 2023  国際教養大学  Classification:Affiliate faculty  Domestic/International Classification:Japan 

    Semester, Day Time or Duration：後期

  • 2021  北九州市立大学・経済学部  Classification:Part-time lecturer  Domestic/International Classification:Japan 

    Semester, Day Time or Duration：２０２１年度後期火曜日４限

Participation in international educational events, etc.

  • 2023.12

    九州大学

    令和５ 年度第2 回九州大学大学院オンライン留学フェア

    　 More details

    Venue：Zoom Webinar もしくはMeeting

  • 2022.10

    九州大学

    令和4 年度第2 回九州大学大学院オンライン留学フェア

    　 More details

    Venue：Zoom Webinar もしくはMeeting

  • 2019.11

    QS(Quacquarelli Symonds) Kyushu University

    2019 QS APPLE (ASIA PACIFIC PROFESSIONAL LEADERS IN EDUCATION ) Conference and Exhibition

    　 More details

    Venue：Japan, Fukuoka

  • 2016.3

    Asia Pacific Association for International Education (APAIE)

    APAIE (Asia Pacific Association for International Education (APAIE) 2017 CONFERENCE & EXHIBITION

    　 More details

    Venue：Australia, Melbourne

  • 2014.11

    QS

    The 10th QS APPLE (ASIA PACIFIC PROFESSIONAL LEADERS IN EDUCATION ) Conference and Exhibition

    　 More details

    Venue：Taipei, Taiwan

Other educational activity and Special note

  • 2023  Class Teacher  学部

  • 2020  Class Teacher  学部

  • 2019  Class Teacher  学部

Outline of Social Contribution and International Cooperation activities

  • 2019 National Taiwan Normal University (NTNU)-Kyushu University (Kyushu U) Joint Forum
    on Facilitating Interdisciplinary Research and Education, May 27~May 28, 2019.

    ２０１９　Visiting　University of Illinois Urbana-Champaign　for facilitating joint research and education activities

    ２０１９ March Visiting Rhode Island 　for facilitating joint research and education activities

Travel Abroad

  • 2019.5

    Staying countory name 1：United States   Staying institution name 1：University of Illinois Urbana-Champaign

  • 2019.5

    Staying countory name 1：Taiwan, Province of China   Staying institution name 1：台湾師範大学

  • 2019.3

    Staying countory name 1：United States   Staying institution name 1：Rhode Island University