研究課題/領域番号 |
18K12817
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研究機関 | 武蔵大学 |
研究代表者 |
Franco Pedro 武蔵大学, PDP教育センター, 専任講師 (70791383)
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研究期間 (年度) |
2018-04-01 – 2023-03-31
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キーワード | Financial Regulation / Financial Complexity / Optimal Contracts |
研究実績の概要 |
1. FY2021 saw some, but relatively small progress due to issues explained below, mostly from the empirical parts of the project. A different project that uses NLP methods is nearing conclusion and the work done there has solidified the methods necessary to measure complexity in securities; in particular, implementation of sci-kit via Python. A small literature review was done to keep the project up with new papers and methods that have come out since the start of the project, which required further revision of the methods to be used. 2. Two objectives were accomplished in FY2021: a development of the empirical side, particularly focused on strategies; and a mastery of the necessary techniques for exploring NLP methods were developed. 3. To further develop any theoretical and computational areas, it's necessary to explore any and all available data. So progress in that area is important for the project. 4. A combination of issues affected this project. Covid continues to severely hamper research efforts in 2021, as well as new teaching responsibilities and a some personal issues. For FY2022, all 3 are expected to take less severely affect progress, helped by the imminent conclusion of a different project.
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現在までの達成度 (区分) |
現在までの達成度 (区分)
3: やや遅れている
理由
The study was significantly affected by three factors: Covid and the restrictions coming from it, new teaching responsibilities and some personal issues of the lead researcher. Of these, Covid was the most important factor. It hampered the possibility of traveling to conduct research in person and collaborate with the co-author. In addition, the lead's home institution switched multiple times between online teaching and in person teaching throughout the year, which required significant additional preparations. Finally, uncertainty about what is and isn't possible due to Covid also hampered efforts to move forward. The lead researcher started teaching a new, year long course from September 2021 until April of 2022; the course is not within the lead researcher's primary area of expertise, meaning the necessary preparations and duties for the course were relatively high. Finally, the lead researcher's wife returned to full time work after her maternity leave. This was challenging as neither parent's family is living in Japan.
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今後の研究の推進方策 |
1. The overall goal remains to create a measure of complexity in financial prospectuses as is discussed previously, to further develop our model and to do computational modelling. The aim is to look into prospectuses taking into account how financial regulators focus on these presentations of financial securities and how they affect investors' decisions. The process of acquiring data will resume in the next couple of months. Aside from data providers, there is the possibility of using open source data. 2. The previous goal of finding direct evidence of use of strategic complexity by banks is likely to be difficult to achieve. This goal would require using archival data in person. Measuring complexity, as stated in the original research plan, is the goal for FY2022. It should also be possible to try to find other strategies involving matching prospectus data with securities data, with the goal of combining the outcomes of the latter with the complexity of the former.
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次年度使用額が生じた理由 |
In 2021, due to the Covid restrictions and the other issues discussed above, acquiring the data for the empirical portion of the research was not possible. As the main methods of the project have not changed, but flying outside of Japan is now more likely in 2022, the project aims to conduct research involving flying in this year. This involves the possibility of collecting data in person and other budgeted expenses, mostly to present our research in different conferences and institutions. However, the biggest single expense budgeted is for buying access to a database at this point. Other potential expenses would mostly be for domestic travels and, if necessary, equipment for the computational analyses.
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