TSURUTA DAISUKE

College of EconomicsProfessor

Research Keyword

  • Corporate finance

Field Of Study

  • Humanities & social sciences, Money and finance, Money/ Finance
  • Humanities & social sciences, Public economics, labor economics

Career

  • Apr. 2015 - Present
    日本大学, 経済学部, 教授
  • Apr. 2015 - Mar. 2019
    政策研究大学院大学, 政策研究科, 客員教授
  • Apr. 2010 - Mar. 2015
    政策研究大学院大学, 政策研究科, 客員准教授
  • Apr. 2010 - Mar. 2015
    日本大学, 経済学部, 准教授
  • Jul. 2006 - Mar. 2010
    National Graduate Institute for Policy Studies, Assistant Professor, 政策研究科, 助教授
  • Nov. 2003 - Jun. 2006
    National Graduate Institute for Policy Studies, Research Associate, 政策研究科, 助手

Educational Background

  • Apr. 2001 - Mar. 2004
    The University of Tokyo, Graduate School of Economics, Studies of Contemporary Economy
  • Apr. 1999 - Mar. 2001
    The University of Tokyo, Graduate School of Economics, Studies of Contemporary Economy
  • Apr. 1995 - Mar. 1999
    Aoyama Gakuin University, Faculty of Economics, Economics

Paper

  • Does trade credit absorb adverse shocks? Evidence on SMEs in Japan
    Daisuke Tsuruta; Hirofumi Uchida
    Pacific-Basin Finance Journal, Dec. 2024, Refereed, Not invited
  • Bank credit to SMEs in Japan: Evidence from normal times, the global financial crisis, and the COVID-19 crisis
    Daisuke Tsuruta
    Pacific-Basin Finance Journal, Oct. 2024, Refereed, Not invited
    Lead
  • Credit allocation and public credit guarantee schemes for small businesses: evidence from Japan
    Daisuke Tsuruta
    Applied Economics, Sep. 2024, Refereed, Not invited
    Lead
  • The effect of physical collateral and personal guarantees on business startups
    Yuji Honjo; Arito Ono; Daisuke Tsuruta
    Journal of Economics and Business, May 2024, Refereed, Not invited
  • 地域・業種別にみたコロナ禍における中小企業の借入行動の特徴
    鶴田大輔
    商工金融, Feb. 2024, Not refereed, Invited
    Lead
  • Determinants and Consequences of Bank Borrowings of Small Businesses: Is the COVID-19 crisis special?
    Daisuke Tsuruta
    RIETI Discussion Paper Series, Jan. 2024, Not refereed, Not invited
    Lead
  • Distant Lending for Regional Small Businesses Using Public Credit Guarantee Schemes: Evidence from Japan
    Daisuke Tsuruta
    Economic Analysis and Policy, Dec. 2023, Refereed
    Lead
  • Bank Loans, Trade Credit, and Liquidity Shortages of Small Businesses during the Global Financial Crisis
    Daisuke Tsuruta
    International Review of Financial Analysis, Nov. 2023, Refereed, Not invited
    Lead
  • Do Small Businesses Adjust their Capital Structure? Evidence from the Global Financial Crisis in Japan
    Daisuke Tsuruta
    Accounting & Finance, Apr. 2023, Refereed, Not invited
    Lead
  • Lending Relationships and a Corporate Liquidity Shortage: Evidence from the COVID-19 Shock in Japan
    Daisuke Tsuruta
    Managerial and Decision Economics, Dec. 2022, Refereed, Not invited
    Lead
  • 金融機関と借り手企業のマッチデータを用いた地域貸出市場の実証分析
    鶴田大輔
    金融庁金融研究センターディスカッションペーパー, Apr. 2022, Not refereed, Not invited
    Lead
  • コロナショックへの企業の対応と政策支援措置:サーベイ調査に基づく分析
    植杉威一郎・小野有人・本田朋史・荒木祥太・内田浩史・小野塚祐紀・川口大司・鶴田大輔・深沼光・細野薫・宮川大介・安田行宏・家森信善
    経済研究, Apr. 2022, Refereed, Not invited
  • Bank Loans, Trade Credit, and Liquidity Shortages of Small Businesses during the Global Financial Crisis
    Daisuke Tsuruta
    Working Paper Series, Research Institute of Economic Science College of Economics, Nihon University, Mar. 2022, Not refereed, Not invited
    Lead
  • Does Trade Credit Absorb Adverse Shocks?
    Daisuke Tsuruta and Hirofumi Uchida
    RIETI Discussion Paper Series, Nov. 2021, Not refereed, Not invited
    Lead
  • Distant Lending for Regional Small Businesses Using Public Credit Guarantee Schemes: Evidence from Japan
    Daisuke Tsuruta
    RIETI Discussion Paper Series, Oct. 2021, Not refereed, Not invited
    Lead
  • 新型コロナウイルス感染症下における企業実態調査の概要
    植杉威一郎、小野有人、本田朋史、荒木祥太、内田浩史、小野塚祐紀、川口大司、鶴田大輔、深沼光、細野薫、宮川大介、安田行宏、家森信善
    RIETI Discussion Paper Series, Jun. 2021, Not refereed, Not invited
  • Lack of successors, firm default, and the performance of small businesses.
    Daisuke Tsuruta
    Japan and the World Economy, Mar. 2021, Refereed, Not invited
    Lead
  • Can Banks Monitor Small Business Borrowers Effectively Using Hard Information?
    Daisuke Tsuruta
    Accounting & Finance, Dec. 2020, Refereed, Not invited
    Lead
  • 中小企業に対する審査・モニタリングにおけるハード情報の有効性
    鶴田大輔
    商工金融, Apr. 2020, Not refereed, Invited
    Lead
  • SME Policies as a Barrier to Growth of SMEs
    Daisuke Tsuruta
    Small Business Economics, Apr. 2020, Refereed, Not invited
    Lead
  • Japan's elderly small business managers: Performance and succession
    Daisuke Tsuruta
    Journal of Asian Economics, Feb. 2020, Refereed, Not invited
    Lead
  • The Effect of Physical Collateral and Personal Guarantees on Business Start-ups"
    Honjo; Yuji; Arito Ono; and Daisuke Tsuruta
    RIETI Discussion Paper Series, Oct. 2019, Not refereed, Not invited
  • Real Driver of Trade Credit
    Daisuke Tsuruta and Hirofumi Uchida
    Pacific-Basin Finance Journal, Oct. 2019, Refereed, Not invited
    Lead
  • 信用保証制度が地域の中小企業金融に与える影響
    鶴田大輔
    都市問題, Oct. 2019, Not refereed, Invited
    Lead
  • 信用保証制度の利用動向とリスク移転の検証
    鶴田大輔
    平成30年度金融調査研究会第2研究グループ報告書, Jul. 2019, Not refereed, Invited
    Lead
  • Lack of Successors, Firm Default, and the Performance of Small Businesses
    Daisuke Tsuruta
    RIETI Discussion Paper Series, Jul. 2019, Not refereed, Not invited
    Lead
  • Working Capital Management during the Global Financial Crisis: Evidence from Japan
    Daisuke Tsuruta
    Japan and the World Economy, Jan. 2019, Refereed, Not invited
    Lead
  • Do Working Capital Strategies Matter? Evidence from Small Business Data in Japan
    Daisuke Tsuruta
    Asia-Pacific Journal of Financial Studies, Dec. 2018, Refereed, Not invited
    Lead
  • Information asymmetry in small and medium enterprise credit guarantee schemes: evidence from Japan
    Kuniyoshi Saito; Daisuke Tsuruta
    Applied Economics, May 2018, Refereed, Not invited
    Corresponding
  • 貸金市場・銀行カードローン市場の動向と課題
    鶴田大輔
    個人金融, Nov. 2017, Not refereed, Invited
    Lead
  • Variance of Firm Performance and Leverage of Small Businesses
    Daisuke Tsuruta
    JOURNAL OF SMALL BUSINESS MANAGEMENT, Jul. 2017, Refereed, Not invited
  • Working Capital Management during the Financial Crisis: Evidence from Japan
    Daisuke Tsuruta
    RIETI Discussion Paper Series, Mar. 2017, Not refereed, Not invited
    Lead
  • SME Policies as a Barrier to Growth of SMEs
    Daisuke Tsuruta
    RIETI Discussion Paper Series, Mar. 2017, Not refereed, Not invited
    Lead
  • No lending relationships and liquidity management of small businesses during a financial shock
    Daisuke Tsuruta
    JOURNAL OF THE JAPANESE AND INTERNATIONAL ECONOMIES, Dec. 2016, Refereed, Not invited
  • Natural or unnatural selection? The end of lending relationships for small businesses
    Daisuke Tsuruta
    APPLIED ECONOMICS, 2016, Refereed, Not invited
  • 金融円滑化法終了後における金融実態調査結果の概要
    植杉威一郎、深沼光、小野有人、胥鵬、鶴田大輔、根本忠宣、宮川大介、安田行宏、家森信善、渡部和孝、岩木宏道
    RIETI Discussion Paper Series, Jun. 2015, Not refereed, Not invited
  • No Lending Relationships and Liquidity Management of Small Businesses during a Financial Shock
    Daisuke Tsuruta
    RIETI Discussion Paper Series, May 2015, Not refereed, Not invited
    Lead
  • Leverage and firm performance of small businesses: evidence from Japan
    Daisuke Tsuruta
    SMALL BUSINESS ECONOMICS, Feb. 2015, Refereed, Not invited
  • Bank loan availability and trade credit for small businesses during the financial crisis
    Daisuke Tsuruta
    Quarterly Review of Economics and Finance, Feb. 2015, Refereed, Not invited
  • Information Asymmetry in SME Credit Guarantee Schemes: Evidence from Japan
    Kuniyoshi Saito and Daisuke Tsuruta
    RIETI Discussion Paper Series, Jul. 2014, Not refereed, Not invited
    Corresponding
  • Changing banking relationships and client-firm performance: Evidence from Japan for the 1990s
    Daisuke Tsuruta
    Review of Financial Economics, 2014, Refereed, Not invited
  • Credit Contagion and Trade Credit: Evidence from Small Business Data in Japan
    Daisuke Tsuruta
    ASIAN ECONOMIC JOURNAL, Dec. 2013, Refereed, Not invited
  • Customer relationships and the provision of trade credit during a recession
    Daisuke Tsuruta
    Applied Financial Economics, Jun. 2013, Refereed, Not invited
  • Real Driver of Trade Credit
    Daisuke Tsuruta and Hirofumi Uchida
    RIETI Discussion Paper Series, May 2013, Not refereed, Not invited
    Lead
  • 債務超過企業の資金調達と事後的なパフォーマンス:中小企業の財務データによる実証分析
    鶴田 大輔
    金融構造研究, May 2013, Not refereed, Not invited
    Lead
  • How do small businesses finance their growth opportunities?-The Case of Recovery from the Lost Decade in Japan
    Daisuke Tsuruta
    Managerial and Decision Economics, Apr. 2012, Refereed, Not invited
  • Changing Banking Relationships and Client Firm Performance: Evidence for Japan from the 1990s
    Daisuke Tsuruta
    MPRA Paper, Jan. 2012, Not refereed, Not invited
    Lead
  • 貸金業法改正後における企業の資金調達実態調査の概要
    植杉威一郎、内田浩史、小野有人、小塚荘一郎、鶴田大輔、君和田貴也
    Working Paper Series, Center for Interfirm Network, Institute of Economic Research, Hitotsubashi University, Dec. 2011, Not refereed, Not invited
  • Nonbank financing and performance of informationally opaque businesses
    Daisuke Tsuruta
    Applied Financial Economics, 2010, Refereed, Not invited
  • Do Financial Shocks Have Negative Effects on Small Businesses? New Evidence from Japan for the Late 1990s
    Daisuke Tsuruta
    B E JOURNAL OF ECONOMIC ANALYSIS & POLICY, 2010, Refereed, Not invited
  • 金融危機下における中小企業金融の現状『企業・金融機関との取引実態調査(2008年2月実施)』、『金融危機下における企業・金融機関との取引実態調査(2009年2月実施)』の結果概要
    植杉威一郎・内田浩史・小倉義明・小野有人・胥鵬・鶴田大輔・根本忠宣・平田英明・安田行宏・家森信善・渡部和孝・布袋正樹
    RIETI Discussion Paper Series, Jul. 2009, Not refereed, Not invited
  • Customer Relationships and the Provision of Trade Credit during a Recession
    Daisuke Tsuruta
    RIETI Discussion Paper Series, Jun. 2009, Not refereed, Not invited
    Lead
  • 消費者金融利用者のリスクと借入申込拒絶後の行動 -平成20年度『消費者金融利用者調査』による分析-
    鶴田大輔
    平成20年度版 消費者金融白書, Mar. 2009, Not refereed, Not invited
    Lead
  • 大規模データベースからみた債務超過企業の実態 - 債務超過企業は低収益企業か?
    鶴田大輔
    信用保険月報, Dec. 2008, Not refereed, Not invited
    Lead
  • Is Bank Dependence Costly for Small Businesses? -The Case of Small Real Estate Agents in Japan?
    Daisuke Tsuruta
    Empirical Economics Letters, Mar. 2008, Refereed, Not invited
    Lead
  • Bank information monopoly and trade credit: do only banks have information about small businesses?
    Daisuke Tsuruta
    APPLIED ECONOMICS, 2008, Refereed, Not invited
  • 貸金業規制法の改正と高リスク層への資金供給 -平成19年度『消費者金融利用者調査』による分析-
    鶴田大輔
    p64-p71, Dec. 2007, Not refereed, Not invited
    Lead
  • 中小企業における企業間信用の機能
    鶴田大輔
    中小企業総合研究, Jul. 2007, Not refereed, Not invited
    Lead
  • Credit Contagion and Trade Credit Supply: Evidence from Small Business Data in Japan
    Daisuke Tsuruta
    RIETI Discussion Paper Series, May 2007, Not refereed, Not invited
    Lead
  • Debt Structure and Bankruptcy of Financially Distressed Small Businesses
    Daisuke Tsuruta and Peng Xu
    RIETI Discussion Paper Series, May 2007, Not refereed, Not invited
    Lead
  • 経営不振に陥った中小企業の存続期間と債務者構成
    胥鵬・鶴田大輔
    RIETI Discussion Paper Series, Feb. 2006, Not refereed, Not invited
  • ノンバンク融資と中小企業のモラルハザード問題
    鶴田大輔
    RIETI Discussion Paper Series, Nov. 2005, Not refereed, Not invited
    Lead
  • 中小企業金融の実証研究に関するサーベイ -マイクロデータによる実証分析に注目して-
    鶴田大輔
    商工金融, Jan. 2003, Not refereed, Not invited
    Lead

MISC

  • (経済教室)中小企業の資金繰り支援 新陳代謝阻害せぬ枠組みを
    鶴田大輔
    日本経済新聞, 12 May 2020, Not refereed, Invited
    Lead
  • 中小企業の後継者不足問題と事業承継の効果
    鶴田大輔
    金融財政事情, Nov. 2019, Not refereed, Invited
    Lead
  • 信用補完制度見直しの背景と実効性
    鶴田大輔
    金融ジャーナル, May 2019, Not refereed, Invited
    Lead
  • 銀行カードローンを取り巻く環境 ―残高拡大の背景と健全度に対する考察
    鶴田大輔
    金融ジャーナル, Oct. 2018, Not refereed, Invited
    Lead
  • 金融機関における「信用保証」の適正活用
    鶴田大輔
    金融ジャーナル, Jul. 2017, Not refereed, Invited
    Lead

Books and other publications

  • 中小企業論 ―組織のライフサイクルとエコシステム
    Single work, 第7章「中小企業の金融」
    同友館, Dec. 2021, Not refereed

Lectures, oral presentations, etc.

  • SME Policies as a Barrier to Growth of SMEs
    鶴田大輔
    日本経済学会秋季大会, Sep. 2017, 日本経済学会, Not invited
  • Performance of Elderly Small Business Managers and the Effects of Succession
    鶴田大輔
    日本経済学会春季大会, Jun. 2017, 日本経済学会, Not invited

Affiliated academic society

  • Oct. 2017 - Present
    Japan Academy of Small Business Studies
  • Apr. 2004 - Present
    Japan Law and Economics Association
  • May 2001 - Present
    日本経済学会

Research Themes

  • コロナショックにおける中小企業金融の実証分析と政策の評価
    日本学術振興会, 科学研究費助成事業, 01 Apr. 2021 - 31 Mar. 2025
    鶴田 大輔
  • Empirical studies for working capital of small businesses
    Japan Society for the Promotion of Science, Grants-in-Aid for Scientific Research, 01 Apr. 2016 - 31 Mar. 2020
    Tsuruta Daisuke
  • Empirical studies on small business finance during the macroeconomic shock
    Japan Society for the Promotion of Science, Grants-in-Aid for Scientific Research, 01 Apr. 2012 - 31 Mar. 2016
    TSURUTA Daisuke
  • Empirical studies on finance in small businesses recovering from the recession.
    Japan Society for the Promotion of Science, Grants-in-Aid for Scientific Research, 2009 - 2011
    TSURUTA Daisuke
  • Development of the Cost Benefit Analysis Method of the Planning Regulation for Industrial Development and Regional Grows
    Japan Society for the Promotion of Science, Grants-in-Aid for Scientific Research, 2007 - 2009
    SHIMOMURA Ikuo; FUKUI Hideo; KUME Yoshiaki; TSURUTA Daisuke
  • Empirical Studies of Small Business Financing in Japan
    Japan Society for the Promotion of Science, Grants-in-Aid for Scientific Research, 2006 - 2008
    TSURUTA Daisuke
  • 中小企業のマイクロデータを用いた実証分析