- Home
- Undergraduate / Department / Graduate School
- Teacher Information
- Teacher Information (Degree and Achievements)
- Teacher Details
Teacher Information (Degree and Achievements)
Teacher Details
TSURUSAWA Makoto
TSURUSAWA Makoto
- Affiliation
- Graduate School Graduate School of Economics Faculty of Economics Department of International Commerce
- Job rank
- Professor
- Position
Researcher Information
Area of expertise
Corporate Finance, Banking and Payment Systems
Courses in charge
Financial theory I/II, financial system theory, basic exercises, specialized exercises I/II, financial and economic research I/II
Educational background
Graduate School of Finance, Waseda University
Acquired degree
Master's (Finance)
Affiliated Society
Japan Society of Monetary Economics, Japan Society of Finance, Japan Society of Management and Finance
Research Keywords
Current research theme
I am researching new financing methods for startups and venture companies from the perspective of promoting innovation. The research theme is the trend of cashless payments and usage factors.
Main research results and activities
・Co-author, “Pathology and Predisposition of Financial Business: Perspective of Redesigning Incentive Structures,” 2013 Financial and Fiscal Situation Study Group
・Co-author of "Theory and Practice of Valuation" 2021 Nihon Keizai Shimbun, Inc.
・“Future Direction of Payment Services” April 1995, Japanese Bankers Association, No. 577, pp. 40-49.
・"Japanese Big Bang and Bank Management" March 1998 The Japanese Bankers Association "Financial" No. 612, pp. 14-25.
・“The Commodity and Issues of Capital Securities Complying with Basel Regulation” July 2017 Securities Analyst Journal Vol. 55, Vol. 7, pp. 52-63.
・"Analysis of New Equity Finance in Japan - Alternative Scheme for Capital Increase through Third-Party Allotment of Stock Acquisition Rights," Waseda International Management Research, March 2019, No. 50, pp.27-62.
・"The Role of Social Capital in the Sharing Economy: Responding to the Asymmetry Problems of Information by Using Flima Apps through General Trust and Social Networks" March 2019, Showa Women's University Institute of Contemporary Business, 2018
・“New Financing Methods for Startups: Finance that does not evaluate corporate value or produce information” Co-author, Waseda International Management Research, No. 51, pp.41-69.
・“Development of Cashless Payments Using Smartphones and Factors” March 2022 Proceedings of Contemporary Business Research Institute, Showa Women's University, 2021
・"Analysis of the use of funds for MS warrants - Finance of R&D venture companies" June 2023 Securities Economic Research No. 122, pp. 83-98.
Contracted results of scientific research expenses
Grant-in-Aid for Scientific Research: Fundamental Research (C) Issue No. 24K04960 Empirical research on funding and post-procurement performance by MS warrants (2024-2026)
Classes and Seminars
My seminar
Financial Theory
In addition to developing the ability to explore research themes, investigate and analyze research themes for a wide range of topics related to finance and finance, they will also acquire practical skills in business. Through the practice of group work related to stock investment and corporate analysis, and training to conduct surveys according to each theme and empirical analysis using data, we aim to understand the theoretical foundations of finance and organize our own ideas based on evidence and provide easy-to-understand explanations to others.


Social Activities
Response to SDGs