| Project/Area Number |
22K13432
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| Research Category |
Grant-in-Aid for Early-Career Scientists
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| Allocation Type | Multi-year Fund |
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| Review Section |
Basic Section 07060:Money and finance-related
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| Research Institution | Tokai University |
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Principal Investigator |
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| Project Period (FY) |
2022-04-01 – 2025-03-31
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| Project Status |
Granted (Fiscal Year 2023)
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| Budget Amount *help |
¥4,680,000 (Direct Cost: ¥3,600,000、Indirect Cost: ¥1,080,000)
Fiscal Year 2023: ¥2,600,000 (Direct Cost: ¥2,000,000、Indirect Cost: ¥600,000)
Fiscal Year 2022: ¥2,080,000 (Direct Cost: ¥1,600,000、Indirect Cost: ¥480,000)
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| Keywords | SME / Credit guarantee / Green SMEs / Green recovery / Green Credit / Green Finance / Risk finance / Credit risk |
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| Outline of Research at the Start |
One of the significant challenges Small and medium-sized enterprises (SMEs) face is their difficulty in accessing finance. One way to reduce lending risk to SMEs is through the credit guarantee scheme. This research aims to assess the determining factors of the optimal credit guarantee ratio for the banking industry in different Asian sub-regions, by employing statistical techniques and econometric models.
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| Outline of Annual Research Achievements |
During the past fiscal year, I evaluated the impact of green finance and green credit guarantees on accelerating the energy transition by attracting more private investment into green projects. These schemes particularly benefit SMEs, which face challenges in accessing finance, especially for green projects. My research focused on Asian countries, and I presented findings at over 10 conferences, seminars, and workshops in Japan, Thailand (UN ESCAP), Brunei, and China, both online and in person. I published more than 50 papers in high-impact, Q1 or Q2-ranked international peer-reviewed journals, as well as four books and several book chapters.
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| Current Status of Research Progress |
Current Status of Research Progress
1: Research has progressed more than it was originally planned.
Reason
During the past fiscal year, I nearly concluded my studies and published several papers. In the current fiscal year, I plan to continue my research, focusing on quantitative analyses of the impact of green credit and guarantee schemes and other green finance policies in easing SMEs' access to finance, particularly for sustainability projects. I am drafting new papers for submission to journals and will present my research findings at a seminar in Thailand in May 2024. Additionally, I have been invited to deliver a keynote speech at a conference in Ho Chi Minh City, Vietnam.
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| Strategy for Future Research Activity |
In the next phase of my research, I plan to apply for the Kakenhi B category grant to expand my study by using data from various countries and jurisdictions. I will evaluate how different green finance policies, rules, and incentives impact the achievement of net-zero goals. This research is crucial for Japan, which aims to achieve net-zero emissions by 2050. However, recent data shows a decline in new green investments in Japan, raising concerns about meeting this target. Therefore, it is essential to implement effective policies and assess their impacts. My research will provide insights to help formulate and refine strategies that support the transition to a sustainable future, ensuring Japan and other countries can meet their environmental objectives.
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