Published papers

While the importance of financial education is recognized in recent years, the technique for deepening an understanding to pension investment management is needed. In this research, we analyze learning method of the pension investment management in consideration of liability using the business game technique. As a result of analysis, interesting phenomena - the participant understood the learning method of the pension investment management in consideration of liability - were seen. This shows the effectiveness of the business game technique to learning the pension investment management.

Research on the association between stock price fluctuations and news data is popular andnumerous studies have been conducted. This paper aims to improve the accuracy of text classification intothree categories (negative, neutral, or positive) by employing high frequency data and LSTM model. Oneof the novelties of our paper is to use several types of news articles in the analysis.

Business behavior changes as a company grows. One of the behaviors which a company changeas it grows is diversification. While diversification is an advantage for a company, it can also be adisadvantage. This study analyzes how corporate diversification affects enterprise value, especially thesynergy effect between business units. We plan to analyze in detail in the future.

To keep up with rapid changes in the business environment, Japanese companies have requiredto conduct business transformation in recent years. In this paper, we classified companies by using FuzzyC Means, and estimated the synergy effect of multi-business companies based on that classification. Inaddition to this, we investigated the corporate behavior, especially when making a decision to sell a business,focusing on divestment through M&A.

The location is important for the real estate management business, but it is difficult to be quantified. As a case study of the Kanda station, the correlation analysis of office rent was examined with building and location measures. The location measures include visibility and integration value by space syntax theory other than the distance from station as candidate factor variables. These measures represent visible area and street network integration. The result showed positive correlation between office rent and visibility, integration value can be seen.

News reports can be one of the main factors that influence commodity futures prices. In thispaper, we conducted analysis on the relationship between news reports and commodity futures. Firstly, wedeveloped a fluctuation index of the futures prices on a daily basis, through event study. Next wevectorized the news report data and analyzed their relationships with the futures prices. In this analysis,we used the multivariate autoregressive model to examine the possibilities of forecasting commodityfutures prices by using the news report index. We also analyzed the relationship between the news indexdeveloped in this paper and the stock prices of enterprises related with commodity futures.

One of the anomalies in the financial markets is the week day effect. Although reports of theweekday effect have been conducted in China's stock market, the cause of the effect is still indecisive.The purpose of this study is to clarify the relevance of the weekday effect and news about the Chinesestock market. In this paper, we examined the polarity of the news and try to explain its relevance with theweekday effect.

In this research, we analyzed the reaction of investor behavior to news announcements in the stock market using stock trading data from the Tokyo Stock Exchange, which contains investors' order information, and natural language processing methodologies. We find that the magnitude of the growth of the volume ratio after the transmission of positive emergency news is relatively smaller than that of other categories of news, and that the magnitude of the growth of the volume ratio after the transmission of news is relatively smaller for large-cap stocks. These results provide interesting insights into the relationship between news and investor behavior.

In this research, we analyze the relationship between news announcements and trading volume in the stock market using high-frequency trading data and natural language processing technology. In the evaluation of the news, we applied the FinBERT models, which are analysis methods specialized in the financial field, and targeted the Korean and Japanese stock markets. As a result, we found that the trading volume tends to increase due to the ‘Alert' news with high immediacy. and that some companies with relatively small market capitalization have a strong connection to news and trading volume, while news about companies with large market capitalization have a limited impact. These are interesting results that contribute to the clarification of the price formation mechanism in the market.

Economic fluctuations have a great impact on business management. In this study, we explorethe method to improve the accuracy of the prediction model of the economic fluctuation using the economicwatcher survey reported by the Cabinet Office, the Government of Japan. The economic watcher surveyincludes interviewees' answers in the text and the economic business trend tag for each answer. Theclassification was attempted through the LSTM model. As a result of the analysis, we found the predictionaccuracy could be improved by using texts generated by GPT-2. Further examination of the classificationmodel will be planned.

The influence of SNS or the impact of influencers is expanding on our society. This studyanalyzes the relationships between tweets and news text of influencers in the Japanese stock market. Roleof social media in the financial market is also examined by extracting the data related to the tweetsinformation.

SNS が世の中に与える影響が拡大しており、特にインフルエンサーが人々に与える影響が増してきている。本研究では、株のインフルエンサーを特定した上で、Google Cloud NaturalLanguage API を用いた感情分析を行い、ツイートとニュース及び株価の関係を明らかにすることを試みる。

This study examines the effectiveness of pricing strategies in business hotels. Through theanalysis, we will attempt to identify the impact on the lease period and sales of business hotels, and how itchanges with the introduction of policy simulation. In this study, pricing strategy is considered as a policy.Through Agent-Based Simulation, we will match borrower and lender agents and analyze the results ofthe balance between supply and demand, and we will consider pricing strategy in our analysis. We will bemeasured the policy effects from individual strategies, using the framework created by previous studiesthat considered prices. A bottom-up policy evaluation will be conducted, and exploratory studies will beconducted to determine that it is an effective tool.