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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
The Japan Society of Monetary Economics, the Japan Society of Finance, and the 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. Trends in cashless payments and usage factors are also research themes.
Main research results and activities
・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 Related Business" April 1995, Japanese Bankers Association "Financial" No. 577, pp. 40-49.
・"Japanese Big Bang and Bank Management" March 1998 The Japanese Bankers Association "Financial" No. 612, pp. 14-25.
・“Productivity and Issues of Capital Securities Complying with Basel Regulations” July 2017 Securities Analyst Journal Vol. 55, No. 7, pp. 52-63.
・"Analysis of New Equity Finance in Japan - A Scheme for Allocation of Share Acquisition Rights by Third-Party Allotment of Share 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," Waseda International Management Research, No. 51, pp.41-69.
・Progress and Usage Factors of Cashless Payment by Smartphones March 2022 Bulletin of Showa Women's University Institute of Contemporary Business
・"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.
Classes and Seminars
My seminar
Financial Theory
In addition to developing the ability to explore research themes, conduct research and analysis on a wide range of topics related to finance and finance, students will acquire practical skills in business. Through the practice of group work related to equity 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