RIETI Policy Seminar

Entrepreneurship, Innovation, and Finance: New growth avenues in developed economies (Handouts)

Information

  • Time and Date: 13:00-17:30, Thursday, September 26, 2019 (Registration starts at 12:30)
  • Venue: 1-3-1 Kasumigaseki, Chiyoda-ku, Tokyo, RIETI's seminar room #1121 (METI Annex 11th floor)
  • Host: Research Institute of Economy, Trade and Industry (RIETI)
  • Co-host: JSPS KAKENHI Grant Number 16H02027 "Research on Startup Finance to Support Regional Revitalization"

Handouts

Opening Remarks

NAKAJIMA Atsushi

NAKAJIMA Atsushi (Chairman, RIETI)

Bio

Prior to his current position, Atsushi Nakajima served as Senior Managing Executive Officer & Chief Economist, Mizuho Research Institute, Ltd. (2004-2011); Executive Officer, Chief Economist & General Manager of Research Division, Mizuho Corporate Bank, Ltd. & Executive Officer, Chief Economist of Mizuho Research Institute, Ltd. (2003-2004); Chief Economist of Mizuho Research Institute, Ltd. & Chief Economist & General Manager of Research Division, Mizuho Corporate Bank, Ltd. (2002-2003); Chief Economist & General Manager, Research Department, Head Office, the Industrial Bank of Japan Ltd.(IBJ); President, Banque IBJ (France) S.A.; Senior Deputy General Manager, Industrial Research Department, Head Office, IBJ; Senior Manager, International Finance Department, Head Office, IBJ.
Mr. Nakajima graduated from the University of Tokyo with a B.A. in Faculty of Law.

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Keynote Speech: Small Business Finance

Presentation

Gregory F. UDELL

Gregory F. UDELL (Professor of Finance, Kelly School of Business, Indiana University, US)

Bio

Gregory F. Udell is the Chase Chair of Banking and Finance at the Kelley School of Business, Indiana University. He is, or has been, a visiting economist, scholar and/or consultant to the Board of Governors of the Federal Reserve System, the Bank of Japan, the Bank of Italy, the European Central Bank, the Federal Reserve Banks of Chicago and San Francisco, the International Finance Corporation, the OECD, the Peoples Bank of China, the Riksbank and the World Bank. Before joining the Kelley School of Business in 1998 he was Professor of Finance and Director of the William R. Berkley Center for Entrepreneurial Studies at the Stern School of Business at New York University. Prior to his academic career Professor Udell was a commercial loan officer in Chicago. Professor Udell has nearly 100 publications mostly focused on credit availability and financial intermediation - many appearing in leading accounting, economics and finance journals. He is also the author of a textbook on asset based lending, Asset-Based Finance (2004), and is, or has been, an associate editor/editorial board member of seven academic journals.

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Comments

UESUGI Iichiro

UESUGI Iichiro (Professor, Institute of Economic Research, Hitotsubashi University)

Bio

Iichiro Uesugi is a professor at the Institute of Economic Research of Hitotsubashi University, Japan. Prior to becoming a member of the faculty of Hitotsubashi in 2011, he joined the Ministry of Economy, Trade and Industry (METI) in 1993 and worked in the Economic Policy Unit of the Minister's Secretariat; the Economic and Industrial Policy Bureau; the Agency of Natural Resources and Energy; the Small and Medium Enterprises Agency; and the Research Institute of Economy, Trade and Industry (RIETI). His research interests focus on financial intermediation, firm dynamics, small and medium enterprises, and the Japanese economy. His research has been published in many scholarly journals including, International Economic Review, Journal of Economic Behavior and Organization, Journal of Money, Credit, and Banking, and Journal of Banking and Finance. He received his Ph.D. and M.A. in economics in 2000 from the University of California, San Diego and his B.A. in economics in 1993 from the University of Tokyo.

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Special Session: Crowdfunding

Presentation

Armin SCHWIENBACHER

Armin SCHWIENBACHER (Professor, SKEMA Business School, France)

Bio

Armin Schwienbacher is a permanent professor of finance at SKEMA Business School since 2010. He previously worked at the Université Lille 2 (France), Louvain School of Management (Université catholique de Louvain, Belgium) and Universiteit van Amsterdam (the Netherlands), and as guest lecturer at Duisenberg School of Finance (the Netherlands), Rotterdam School of Management (the Netherlands) and the European School of Management and Technology (Germany). He obtained his PhD in 2003 at the University of Namur (Belgium) on exit strategies of venture capital funds. He was a visiting scholar at the Haas School of Business (UC Berkeley, USA) in 2001-2002 and visiting professor at Schulich School of Business (York University, Canada) in 2014-2015. Mr. Schwienbacher regularly teaches courses in corporate finance and entrepreneurial finance. He has presented his research on crowdfunding, venture capital and various other topics in corporate finance at many universities, financial institutions and international conferences, and his work has been published in several international academic journals. He is currently Director of the Research Center FAIRR in finance and accounting at SKEMA.

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Fabio BERTONI

Fabio BERTONI (Professor, EM Lyon Business School, France)

Bio

Fabio Bertoni is the associate dean for research of EM Lyon business school.
His research activity is mostly focused on the relationship between financing and firm performance. He has devoted particular attention to the effect of venture capital, leveraged buyouts and guaranteed loans on firm's growth, patenting and investments. He has also studied sovereign wealth fund asset allocation and the effect of sovereign wealth fund investments on credit risk.

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MATSUO Junsuke

MATSUO Junsuke (Professor, Faculty of Business Administration, Department of Business Administration, Momoyama Gakuin University)

Bio

Junsuke Matsuo is a professor of the Faculty of Business Administration, Momoyama Gakuin University. His field is securities markets, and he is currently researching crowdfunding, distressed investment and venture finance. He was born in Kobe in 1959 and graduated from the graduate school of economics at Kyoto University in 1988. He has worked at Yamaichi Securities and Japan Securities Research Institute. He received a Ph. D (Kyoto University /economics) in 1999. He has been a part-time lecturer at Kyoto University, Osaka City University and Kwansei Gakuin University. His main published work is "The Corporate Bond Market in Japan" (Toyo Keizai Shinposha 1999) and his co-translations are "The Vulture Investors" (by Hilary Rosenberg) and "Strong Managers, Weak Owners" (by Mark Roe).

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Panel Discussion

Panelists (in alphabetical order)

Armin SCHWIENBACHER

Fabio BERTONI (Professor, EM Lyon Business School, France)

MATSUO Junsuke

MATSUO Junsuke (Professor, Faculty of Business Administration, Department of Business Administration, Momoyama Gakuin University)

Armin SCHWIENBACHER

Armin SCHWIENBACHER (Professor, SKEMA Business School, France)

Session Chair

ONO Arito

ONO Arito (Professor, Faculty of Commerce, Chuo University)

Bio

Arito Ono is a professor at the Faculty of Commerce, Chuo University, Japan. He received a B.A. in economics from the University of Tokyo in 1991 and a Ph.D. in economics from Brown University in 2001.
Prior to joining Chuo University in 2015, he was a senior economist at the Mizuho Research Institute, and a senior economist at the Institute for Monetary and Economic Studies, Bank of Japan (2009-2011). He also served as a member of several working groups at the Financial System Council, Financial Services Agency (2011-2015) and as an advisor at the Research and Statistics Department, Bank of Japan (2015). His main fields of research are banking and corporate finance. He is the coauthor and coeditor of the book titled The Economics of Interfirm Networks and has published academic articles in the International Economic Review, the Journal of Banking & Finance, the Journal of Financial Stability, and the Journal of Money, Credit, and Banking, among others.

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Closing Remarks

HONJO Yuji

HONJO Yuji (Faculty Fellow, RIETI / Professor, Faculty of Commerce, Chuo University)

Bio

Yuji Honjo is a professor at the Faculty of Commerce, Chuo University. He is also a Faculty Fellow at the Research Institute of Economy, Trade and Industry (RIETI), Japan. He received his bachelor's degree from Kobe University in 1988, and his master's degree and Ph.D. (Economics) from the University of Tsukuba in 1995 and 1999. His research interests include entrepreneurship and small business, and business economics. He has published numerous papers in international scholarly journals, such as International Journal of Industrial Organization, Journal of Evolutionary Economics, Journal of Small Business Management, Research Policy, and Small Business Economics. He has also published some books in Japanese and English.

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