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Research of equity finance in Japan

Research Project

Project/Area Number 23730350
Research Category

Grant-in-Aid for Young Scientists (B)

Allocation TypeMulti-year Fund
Research Field Business administration
Research InstitutionKobe University

Principal Investigator

SUZUKI Katsushi  神戸大学, 経営学研究科, 准教授 (00408692)

Project Period (FY) 2011 – 2013
Project Status Completed (Fiscal Year 2013)
Budget Amount *help
¥4,160,000 (Direct Cost: ¥3,200,000、Indirect Cost: ¥960,000)
Fiscal Year 2013: ¥1,430,000 (Direct Cost: ¥1,100,000、Indirect Cost: ¥330,000)
Fiscal Year 2012: ¥910,000 (Direct Cost: ¥700,000、Indirect Cost: ¥210,000)
Fiscal Year 2011: ¥1,820,000 (Direct Cost: ¥1,400,000、Indirect Cost: ¥420,000)
Keywordsエクイティファイナンス / 経営財務 / 企業金融 / コーポレートファイナンス / 公募増資 / 第三者割当増資 / ファイナンス
Research Abstract

I empirically examine about the equity finance in Japan. Especially, I analysis about the determinant of fund raising costs, i.e. underwriting fee, the level of offer price, the insider problem around the equity offerings, and the use of proceeds in security offerings. In my research period, I have the 4 refereed journal papers (including the oversea journal), one non-referee journal, 8 paper of working paper, and 12 times presentation of conference. One of my paper also gets the Security Analyst Journal Prize in 2012.

Report

(4 results)
  • 2013 Annual Research Report   Final Research Report ( PDF )
  • 2012 Research-status Report
  • 2011 Research-status Report
  • Research Products

    (43 results)

All 2014 2013 2012 2011 2010 Other

All Journal Article (19 results) (of which Peer Reviewed: 3 results) Presentation (22 results) Book (1 results) Remarks (1 results)

  • [Journal Article] 日本の公募増資時のディスカウント率の決定要因2014

    • Author(s)
      加藤政仁,鈴木健嗣
    • Journal Title

      経営財務研究

      Volume: 第.33巻1・2号 Pages: 39-56

    • Related Report
      2013 Final Research Report
  • [Journal Article] Unique Dividends for Retail Investors : Evidence from Shareholder Perks2014

    • Author(s)
      Katsushi Suzuki
    • Journal Title

      Working paper

    • Related Report
      2013 Final Research Report
  • [Journal Article] Hedge fund as monito or last resort investor : Evidence from Japanese PIPE market2014

    • Author(s)
      K.Suzuki
    • Journal Title

      Working paper

    • Related Report
      2013 Final Research Report
  • [Journal Article] 日本の公募増資時のディスカウント率の決定要因2014

    • Author(s)
      加藤政仁,鈴木健嗣
    • Journal Title

      日本経営財務研究

      Volume: 第.33巻1・2号 Pages: 39-56

    • Related Report
      2013 Annual Research Report
    • Peer Reviewed
  • [Journal Article] 増資インサイダー問題と資金調達コスト2013

    • Author(s)
      加藤政仁,鈴木健嗣
    • Journal Title

      証券アナリストジャーナル

      Volume: Vol.51, No.1 Pages: 88-99

    • NAID

      40019549305

    • Related Report
      2013 Final Research Report
  • [Journal Article] 日本のエクイティファイナンスのあゆみ2013

    • Author(s)
      鈴木健嗣
    • Journal Title

      国民経済雑誌

      Volume: 207(2) Pages: 39-63

    • NAID

      110009552762

    • Related Report
      2013 Final Research Report 2012 Research-status Report
  • [Journal Article] Business and government Nexus : Retired bureaucrats in corporate boardrooms2013

    • Author(s)
      M.Raj, K.Suzuki and T.Yamada
    • Journal Title

      Working paper

    • Related Report
      2013 Final Research Report
  • [Journal Article] Partner tenure, familiarity effect and auditor choice2013

    • Author(s)
      Suzuki, K., T.Takada
    • Journal Title

      Working paper

    • Related Report
      2013 Final Research Report
  • [Journal Article] 増資インサイダー問題と資金調達コスト2013

    • Author(s)
      加藤政仁,鈴木健嗣
    • Journal Title

      証券アナリストジャーナル

      Volume: Vol. 51, No. 1. Pages: 88-99

    • NAID

      40019549305

    • Related Report
      2013 Annual Research Report 2012 Research-status Report
    • Peer Reviewed
  • [Journal Article] Insider Trading Problems Related to Japanese Seasoned Equity Offerings2012

    • Author(s)
      Katso, M., K.Suzuki
    • Journal Title

      Securities Analysts Journal Prizes

    • Related Report
      2013 Final Research Report
  • [Journal Article] 新規株式公開企業による資金調達使途に関する分析2012

    • Author(s)
      中嶋幹,小西大,鈴木健嗣
    • Journal Title

      現代ファイナンス

      Volume: No.32 Pages: 33-54

    • Related Report
      2013 Final Research Report 2012 Research-status Report
  • [Journal Article] Do the use of proceeds disclosure and bank characteristics affect bank underwriter's certification roles?2012

    • Author(s)
      Suzuki K., K.Yamada
    • Journal Title

      Journal of Business Finance and Accounting

      Volume: 39(7)&(8) Pages: 1102-1130

    • Related Report
      2013 Final Research Report
  • [Journal Article] A Revisit to the Share Repurchase Puzzle : The Supply Effect Really Matters in Japan2012

    • Author(s)
      M.Breamer, H.Kato, A.Singh, K.Suzuki
    • Journal Title

      Working paper

    • Related Report
      2013 Final Research Report
  • [Journal Article] Does Divergence of Opinion Affect Stock Return? Evidence from seasoned equity offerings2012

    • Author(s)
      H.Kato, A.Singh, K.Suzuki
    • Journal Title

      SSRN working paper

    • Related Report
      2013 Final Research Report
  • [Journal Article] "Do the use of proceeds disclosure and bank characteristics affect bank underwriter's certification roles?"2012

    • Author(s)
      Suzuki, K., and K. Yamada
    • Journal Title

      Journal of Business Finance and Accounting

      Volume: Vol.39 (7) Pages: 1102-1130

    • Related Report
      2012 Research-status Report
    • Peer Reviewed
  • [Journal Article] DoesDivergence of Opinion Affect Stock Returns? Evidence from Japanese SEOs2012

    • Author(s)
      Kato Kiyoshi Hideaki, Katsushi Suzuki
    • Journal Title

      SSRN Working Paper Series

      Volume: 2023490 Pages: 1-34

    • Related Report
      2011 Research-status Report
  • [Journal Article] 再考公募増資のアナウンスメントリターン2011

    • Author(s)
      加藤英明,鈴木健嗣
    • Journal Title

      ワーキングペーパー

    • Related Report
      2013 Final Research Report
  • [Journal Article] 再考公募増資のアナウンスメントリターン2011

    • Author(s)
      加藤英明,鈴木健嗣
    • Journal Title

      神戸大学ディスカッションペーパー

      Volume: 2011-42 Pages: 1-48

    • Related Report
      2011 Research-status Report
  • [Journal Article] Type of short selling and issuer cots in seasoned equity offerings2010

    • Author(s)
      Suzuki, K
    • Journal Title

      Kobe University discussion paper series (ワーキングペーパー)

      Volume: 2010-35

    • Related Report
      2013 Final Research Report
  • [Presentation] Hedge fund as monito or last resort investor : Evidence from Japanese PIPE market2014

    • Organizer
      South Western finance association conference
    • Place of Presentation
      Sheraton Hotel, Dalas, Texas, USA
    • Related Report
      2013 Final Research Report
  • [Presentation] Hedge fund as monito or last resort investor: Evidence from Japanese PIPE market2014

    • Author(s)
      Katsushi Suzuki
    • Organizer
      South Westorn Firnance Association
    • Place of Presentation
      Sheraton Hotel, Dalas, Texas, USA.
    • Related Report
      2013 Annual Research Report
  • [Presentation] 日本の第三者割当増資に関する実証分析2013

    • Organizer
      日本経営財務研究学会西日本部会
    • Place of Presentation
      兵庫県立大学
    • Year and Date
      2013-07-27
    • Related Report
      2013 Final Research Report
  • [Presentation] 日本の第三者割当増資に関する実証分析2013

    • Author(s)
      鈴木健嗣
    • Organizer
      日本経営財務学会
    • Place of Presentation
      兵庫県立大学
    • Related Report
      2013 Annual Research Report
  • [Presentation] 需要曲線右下がりと自社株買い2012

    • Organizer
      日本ファイナンス学会全国大会
    • Place of Presentation
      一橋大学
    • Year and Date
      2012-05-26
    • Related Report
      2013 Final Research Report
  • [Presentation] Does Divergence of Opinion Affect Stock Return? Evidence from seasoned equity offerings2012

    • Organizer
      日本経営財務研究学会全国大会
    • Related Report
      2013 Final Research Report
  • [Presentation] 再考公募増資時のディスカウント率 -1980年代からの公募増資制度の変更とその影響について-2012

    • Organizer
      日本経営財務研究学会全国大会
    • Related Report
      2013 Final Research Report
  • [Presentation] Stock Repurchases in Japan2012

    • Organizer
      Asian Finance Association and Taiwan Finance Association 2012 Joint International Conference
    • Related Report
      2013 Final Research Report
  • [Presentation] 公募増資時の需要曲線右下がりとプライスプレッシャー効果2011

    • Organizer
      行動経済学会全国大会
    • Place of Presentation
      関西学院大学
    • Year and Date
      2011-12-10
    • Related Report
      2013 Final Research Report
  • [Presentation] Stock Repurchases in Japan2011

    • Organizer
      The 24th annual AJBS conference
    • Place of Presentation
      the Aichi Industry and Labor Center
    • Year and Date
      2011-06-24
    • Related Report
      2013 Final Research Report
  • [Presentation] Are Japanese Targets Better off Getting Overtaken by Asian Firms?2011

    • Organizer
      The 24th annual AJBS conference
    • Place of Presentation
      the Aichi Industry and Labor Center
    • Year and Date
      2011-06-24
    • Related Report
      2013 Final Research Report
  • [Presentation] Corporate tax avoidance and public disclosure of taxable income2011

    • Organizer
      IABE-2011 Annual Conference
    • Place of Presentation
      Las Vegas
    • Related Report
      2013 Final Research Report
  • [Presentation] Do the Use of Proceeds Disclosure and Bank Characteristics Affect Bank Underwriters' Certification Roles?2011

    • Organizer
      日本経営財務研究学会
    • Place of Presentation
      大阪市立大学
    • Related Report
      2013 Final Research Report
  • [Presentation] 公募増資費用と証券アナリスト2011

    • Organizer
      日本経営財務研究学会
    • Place of Presentation
      大阪市立大学
    • Related Report
      2013 Final Research Report 2011 Research-status Report
  • [Presentation] 公募増資時の需要曲線右下がり効果とプライスプレッシャー効果2011

    • Author(s)
      鈴木健嗣
    • Organizer
      行動経済学会
    • Place of Presentation
      関西学院大学
    • Related Report
      2011 Research-status Report
  • [Presentation] Do the Use of Proceeds Disclosure and Bank Characteristics Affect Bank Underwriters’ Certification Roles?2011

    • Author(s)
      Kazuo Yamada
    • Organizer
      日本経営財務研究学会
    • Place of Presentation
      大阪市立大学
    • Related Report
      2011 Research-status Report
  • [Presentation] CORPORATE TAX AVOIDANCE AND PUBLIC DISCLOSURE OF TAXABLE INCOME2011

    • Author(s)
      Onuma Hiroshi
    • Organizer
      International Academy of Business and Economics
    • Place of Presentation
      Las Vegas
    • Related Report
      2011 Research-status Report
  • [Presentation] Stock Repurchases in Japan2011

    • Author(s)
      Jiao Tong
    • Organizer
      Association of Japanese Business Studies
    • Place of Presentation
      Aichi Industry and Labor Center
    • Related Report
      2011 Research-status Report
  • [Presentation] Are Japanese Targets Better off Getting Overtaken by Asian Firms?2011

    • Author(s)
      Ralf Bebenroth
    • Organizer
      Association of Japanese Business Studies
    • Place of Presentation
      Aichi Industry and Labor Center
    • Related Report
      2011 Research-status Report
  • [Presentation] Does Divergence of Opinion Affect Stock Return? Evidence from seasoned equity offerings

    • Author(s)
      鈴木健嗣
    • Organizer
      日本経営財務研究学会全国大会
    • Place of Presentation
      専修大学
    • Related Report
      2012 Research-status Report
  • [Presentation] 再考公募増資時のディスカウント率 -1980年代からの公募増資制度の変更とその影響について-

    • Author(s)
      加藤政仁
    • Organizer
      日本経営財務研究学会全国大会
    • Place of Presentation
      専修大学
    • Related Report
      2012 Research-status Report
  • [Presentation] 需要曲線右下がりと自社株買い

    • Author(s)
      鈴木健嗣
    • Organizer
      日本ファイナンス学会全国大会
    • Place of Presentation
      一橋大学
    • Related Report
      2012 Research-status Report
  • [Book] 有斐閣2012

    • Author(s)
      橘川武郎, 島本実, 鈴木健嗣, 坪山雄樹, 平野創
    • Total Pages
      310
    • Publisher
      出光興産の自己革新
    • Related Report
      2012 Research-status Report
  • [Remarks]

    • URL

      https://sites.google.com/site/suzukikatsu18/kenkyu

    • Related Report
      2013 Final Research Report

URL: 

Published: 2011-08-05   Modified: 2019-07-29  

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