Papers - Takahashi, Hiroshi

ビジネスゲーム手法の金融教育への応用

TAKAHASHI Hiroshi

岡山大学経済学会雑誌 (岡山大学経済学会)  40 ( 2 ) 61-72 - 218 2008

Research paper (bulletin of university, research institution), Single Work,  ISSN  0386-3069

マルチエージェントシミュレーションによる金融資産価格変動メカニズムの解明

TAKAHASHI Hiroshi

ケンミレニアム研究支援中間審査会  2008

Joint Work

ヘッドラインニュースと株価の関連性の分析

高橋 悟, 高橋 大志

早稲田大学大学院ファイナンス研究科 マーケット研究工房 第16回研究会  2008

Joint Work

Approach to Learning Financial Theory through Business Gaming

Yasuo Yamashita, Hiroshi Takahashi, Takao Terano

2008 PROCEEDINGS OF SICE ANNUAL CONFERENCE, VOLS 1-7 (IEEE)     2573 - + 2008

Accepted

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Recently financial education has become more important because financial technology is highly developing and financial market is growing in importance. In this research, we apply Business Game method to financial education. Especially we focused on learning of asset allocation. As a result of intensive experiments, we found that (1) players learned not to take excessive risk through business gaming and (2) they recognize the importance of risk control by our experiments. These findings indicate that our approach is valid for financial education.

The development of the financial learning tool through Business Game

Yasuo Yamashita, Hiroshi Takahashi, Takao Terano

KNOWLEDGE-BASED INTELLIGENT INFORMATION AND ENGINEERING SYSTEMS, PT 2, PROCEEDINGS (SPRINGER-VERLAG BERLIN)  5178   986 - + 2008

Accepted,  ISSN  0302-9743

　View Summary

Recently financial education has become more important because financial technology is highly developing and financial market is growing in importance. In this research, we apply Business Game method to financial education. Especially we focused on learning of asset allocation. As a result of intensive experiments, we found that (1) players learned not to take excessive risk through business game and (2) they recognize the importance of risk control by our experiments. These findings indicate that our approach is valid for financial education.

Analyzing the influence of Investors' behavior on Financial Markets through Agent-Based Simulation

TAKAHASHI Hiroshi

Erich-Schneider-Seminar in Kiel University  2007.10

Single Work

市場の効率性と投資家行動-エージェントベースモデルによる分析

TAKAHASHI Hiroshi

金融・会計のビジネス数理 (筑波大学ビジネス科学研究科編)   2007

Research paper (scientific journal), Joint Work

金融市場におけるミクロマクロ構造の解明：ファンダメンタルインデックスと資産価格変動

高橋大志, 寺野隆雄

電子情報通信学会和文論文誌 J90-D ( 9 )  2007

Research paper (scientific journal), Joint Work, Accepted

金融市場シミュレーションによる価格変動メカニズムの解明

TAKAHASHI Hiroshi

統計数理研究所共同研究リポート198    61-68 2007

Research paper (bulletin of university, research institution), Single Work

Analyzing the influence of overconfident investors on financial markets through agent-based model

Hiroshi Takahashi, Takao Terano

INTELLIGENT DATA ENGINEERING AND AUTOMATED LEARNING - IDEAL 2007 (SPRINGER-VERLAG BERLIN)  4881   1042 - 1052 2007

Accepted,  ISSN  0302-9743

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In this research, we employ Agent-Based Model to analyze how asset prices are affected by investors' Behavior. This analysis places focus on the influence of overconfident investors on financial market. As a result of intensive analysis, we find that overconfident investors are generated in a bottom-up fashion in the market. Furthermore, it has also been found that overconfident investors have the ability to contribute to market efficiency.

Analysis of the Effect of Analyst Reports in the Stock Market through Text Mining

TAKAHASHI SATORU, TAKAHASHI HIROSHI, TSUDA KAZUHIKO, TAKAHASHI MASAKAZU

Abstracts of Annual Conference of Japan Society for Management Information (THE JAPAN SOCIETY FOR MANAGEMENT INFORMATION (JASMIN))  2007   56 - 56 2007

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In finance task domain, text information such as financial statement or analyst's reports is one of the most important information. However, because of the difficulty of handling text information, few research and development have been conducted. In this paper, we examine whether it is possible to extract valuable knowledge for asset management by performing text mining on analyst's reports. From empirical study on the practical data, we find the effectiveness of analyst's reports; 1) we can find the independent analyst who has more valuable information by eliminating duplicated information, 2) to combine text information with numerical information make it possible to extract more useful Information.

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Analyzing the influences of passive investment strategies on financial markets via agent-based modeling

Hiroshi Takahashi, Satoru Takahashi, Takao Terano

Social Simulation: Technologies, Advances and New Discoveries (IGI Global)     224 - 238 2007

Accepted

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This chapter develops an agent-based model to analyze microscopic and macroscopic links between investor behaviors and price fluctuations in a financial market. This analysis focusses on the effects of passive investment strategy in a financial market. From the extensive analyses, we have found that (1) passive investment strategy is valid in a realistic efficient market, however, it could have bad influences such as market instability and inadequate asset pricing deviations, and (2) under certain assumptions, passive investment strategy and active investment strategy could coexist in a financial market. © 2008, IGI Global.

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ファイナンス研究の最近の動向

TAKAHASHI Hiroshi

平成18年度岡山大学経済学部公開講座  2006

Single Work

金融市場におけるミクロマクロ構造の解明：自信過剰な投資家の出現

高橋大志，寺野隆雄

情報処理学会論文誌 47 ( 5 ) 1433-1442 2006

Research paper (scientific journal), Joint Work, Accepted

Analysis of the Validity of Textual Data in Stock Market through Text Mining

Satoru TAKAHASHI, Hiroshi TAKAHASHI

WSEAS Transactions on Business and Economics 3 ( 4 ) 310-315 - 315 2006

Research paper (scientific journal), Joint Work, Accepted

日本の株式市場におけるCSRと株価の関連性の分析

高橋大志, 加藤英明

統計数理研究所共同研究リポート    27-45 2006

Research paper (bulletin of university, research institution), Joint Work

テキストマイニングを利用したアナリストレポートと株価変動の分析

高橋悟, 高橋大志

平成１７年度統数研研究会「経済物理とその周辺」第２回研究会  2006

Research paper (conference, symposium, etc.), Joint Work

エージェントシミュレーションによる投資家行動と価格変動の関連性の分析

TAKAHASHI Hiroshi

平成１７年度統数研研究会「経済物理とその周辺」第２回研究会  2006

Research paper (conference, symposium, etc.), Joint Work

Exploring risks of financial markets through agent-based modeling

Hiroshi Takahashi, Takao Terano

2006 SICE-ICASE INTERNATIONAL JOINT CONFERENCE, VOLS 1-13 (IEEE)     5301 - + 2006

Accepted

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To investigate the risks of financial markets is one of the critical issues in risk management This paper proposes an Agent-Based Model to clarify microscopic and macroscopic links between investor behaviors and price fluctuations in a financial market. The analysis presented in the paper focuses on the role that investors' overconfidence plays in the financial market. From the simulation study of the agent-based virtual market, we have found that (1) overconfident investors emerge in a bottom-up fashion in the market, and (2) these overconfident investors have the ability to contribute to the market in which the trading prices are coincide with theoretical fundamental values.

金融市場における価格変動メカニズムの解明

TAKAHASHI Hiroshi

Fun-AI'05  2005

Single Work