J-GLOBAL         Last updated: Mar 29, 2019 at 02:45
Waseda University
Faculty of Commerce Graduate School of Business and Finance
Job title
Ph. D. in Management Science and Engineering(University of Tsukuba)
Research funding number

Research Areas


Awards & Honors

Feb 2015
Society of Interdisciplinary Business Research Best Paper Award
Sep 2013
Best Paper Award at 22nd International Business Research Conference
Sep 2013
Best Paper Award for a WBI Journal (Global Economy and Finance Journal)
Feb 2009
American Association of Individual Investors Best Paper Award
Mar 2008
Southwestern Finance Association Best Paper in Corporate Finance

Published Papers

Accrual-based and real activities based earnings management behavior of family firms in Japan
Tai-Yuan Chen, Zhaoyang Gu, Keiichi Kubota and Hitoshi Takehara
The Japanese Accounting Review   5 21-47   Jan 2016   [Refereed]
Family firms, accounting conservatism, and information asymmetry: Evidence from Japan
Keiichi Kubota and Hitoshi Takehara
Journal of Strategic and International Studies   10(4) 5-21   Jul 2015   [Refereed]
竹原 均
経営財務研究   34(1-2) 53-71   Apr 2015
Keiichi Kubota and Hitoshi Takehara
International Journal of Trade, Economics and Finance   6(2) 125-128   Apr 2015
Market liquidity, private information, and the cost of capital: Market microstructure studies on family firms in Japan
Takashi Ebihara, Keiichi Kubota, Hitoshi Takehara and Eri Yokota
Japan and the World Economy   32 1-13   Nov 2014

Books etc

Reform and Price Discovery at the Tokyo Stock Exchange
Keiichi Kubota and Hitoshi Takehara
Palgrave Macmillan   Jun 2015   ISBN:9781137540386
太田 亘, 宇野 淳, 竹原 均
中央経済社   Mar 2011   ISBN:978-4-502-68430-2
竹原 均 (第24章)
中央経済社   Nov 2008   ISBN:978-4-502-28950-7
竹原 均 (第II部, 第1章)
三菱UFJトラスト投資工学研究所   Jan 2008   ISBN:978-4-901146-01-2
竹原 均
朝倉書店 ファイナンス講座第8巻   2000   

Conference Activities & Talks

The Heterogeneity of Institutional Ownership and Innovation in Japanese Firms
Hitoshi Takehara
Shidler Seminar Series, University of Hawaii at Manoa   4 Mar 2016   
An Empirical Comparison of Asset Pricing Models for the Tokyo Stock Exchange
Hitoshi Takehara
2015 World Finance and Banking Symposium   17 Dec 2015   
Does Fama and French Five Factor Model Work Well in Japan?
Hitoshi Takehara
International Interdisciplinary Business Economics Advancement Conference   17 Nov 2015   
Do Family Firms in Japan Possess Competitive Advantages to Innovate?
Hitoshi Takehara
39th Annual Meeting of Japan Finance Association   4 Oct 2015   
Does Fama and French Five Factor Model Work Well in Japan?
Hitoshi Takehara
39th Annual Meeting of Japan Finance Association   4 Oct 2015   

Research Grants & Projects

Corporate Social Responsibility and Risk-Stakeholder Management and Financial Performance
Project Year: Apr 2014 - Mar 2017
This study empirically examines the links between corporate social performance (CSP) to various aspects of corporate financing variables including the cost of capital, financial risks and profitability, and financial constraints in the context of ...
Setting of Long Term Objectives and Sustainable Growth of Firms: A Corporate Finance View
Project Year: Oct 2013 - Mar 2016
Based on the original database constructed for listed family firms in Japan, we searched for the key variables to lead these firms to aim for long term sustainability. Our main finding for family firms in Japan are: 1) informational asymmetry is h...
Reexamination of the Decision Usefulness of Accounting Information: Empirical Analysis using High Frequency Data and Stock Ownership Data
Project Year: Apr 2012 - Mar 2015
This project investigates how the accounting information is impounded into stock price and how it affects investors’ decision making. We use two market microstructure variables, the probability of information-based trades and the probability of sy...
Management and Governance of Family Firms: Analyses of Corporate Financial Behavior, Efficiency, and Innovation
Project Year: Apr 2009 - Mar 2013
We established our original data base for listed family firms in Japan. Our main findings are:1) information asymmetry is higher and cost of debt is lower2) CSP is lower while the role of CEO is different between industries3) family firms show bet...
Project Year: 2007 - 2009
We conducted several empirical studies in this research project. In particular, we studied on the following research topics : (1) accruals anomaly and the quality of accounting earnings, (2) information contents of other comprehensive income items...