Venture Finance Market Trends and Current Situation - Looking back on the past 20 years, Masato Ono, Securities Analysts Journal, 第61巻, 第3号, 6, 15, 01 Mar. 2023, The Securities Analysts Association of Japan, Venture investment in Japan has recovered from the past slump and is at a record high level, but major countries have achieved growth exceeding that of Japan. However, in Japan, positive structural changes have progressed due to generational changes in venture capital, changes in investment styles, the rise of CVC, the development of financial information, and the evolution of investment practices. Future challenges include expanding institutional investor funds, disclosing information on VC funds, diversifying exits, and producing companies that continue to grow after the initial public offering.
Performance benchmarks for venture capital funds in Japan, Masato Ono, Securities Analysts Journal, 37, 7, 61, 72, 01 Jul. 1999, The Securities Analysts Association of Japan, This research note surveys the related data and informtion for Japanese venture capital funds in late 1990s.
The State and Structure of U.S. Venture Capital Performance, Masato Ono, Venture Review, 18, 23, 32, 01 Aug. 2011, Japan Venture Society, This research paper surveys the related data and informtion for the performannce of U.S venture capital funds from 1990s to early 2010s.
Entrepreneurship in Japanese Universities: Historical Aspects and Current Status, Masato Ono, The Josai Journal of Business Administration, 8-9, 1, 1, 16, 01 Apr. 2012, The Josai Journal of Business Administration, Since the Technology licensing Organization (TLO) Act was enforced in 1998, entrepreneurial activities have developed at an accelerating pace in Japanese universities. The movement has been shaped by the history of Japanese higher education and government policies. Japanese universities, once the accdemic arm of the Meiji imperial government, tried to become free from government and commercial influence after World War II. In the past two decades, under the broader needs of revitalization, Japanese universities have developed industry-university cooperation in which entrepreneurial activities are involved. These activities can be categorized into TLOs, university-based ventures and entrepreneurship education. The major findings are: (1) the entrepreneurship movement at Japanese universities is mainly exogenous, and attempts at commercialization are still met with opposition; (2) activities tend to be evaluated based on numerical results; and (3) although more than 200 Japanese universities now run programs or courses related to entrepreneurship, most are still immature and peripheral in nature. The movement will not be limited to commercialization of intellectual activities, and is an influential axis for developing competence of students and researchers.
A History of Venture Finance - A 200-year Historical study of American Entrepreneurs and Investors, 01 Feb. 2013, The purpose of this research is to clarify the development and structural change of financing for start-up companies in the United States, tracing back to the historical context since the founding of the country.
The first result obtained in this research is to organize and show the history and development of venture finance in the United States, which did not exist in Japan. There is almost no research in Japan that consistently and comprehensively shows the venture investments of millionaires and the activities of investors who appeared after that, and this point is original and novel. Although the interpretation and application of the research results will differ depending on the standpoint of various people, I believe that many of them will be meaningful in terms of future venture finance practices, research, and policy planning.
Secondly, through historical analysis, I have shown that there is a deep connection between the joint enterprise nature of American venture finance, the importance of the individual, and the social foundation of Americanism and California. Second, the components of venture capital were formed during the 200 years, especially after World War II and in the 1970s, when VC professional organization and rational rules were established, leading to the modern venture capital industry.
The Organization Process of Private Equity Investors in the Western United States until 1960s, Masato Ono, Josai Management Review, 9, 1, 31, 57, 31 Mar. 2013, This paper presents a functional analysis of the innovation of creating private equity investors in the Western United States from early twentieth century to 1960s. While venture capital has become an important element of twentieh-century innovation system, few studies have examined the origins and evolution of this investor. The paper takes a step in this direction by analyzing the evolution of private equity investors who grew up and obtained big success in 1960s semiconductor industry.
The private investors pioneered a new organization model to evolve modern venture capital by a new financial vehicle of Limited Partnership. They took advantage of their private networks to wealthy families in the East and specialized in investing and fostering high-tech startup companies. Typical cases on this evolution are "The Group" in San Francisco and Davis & Rock Partnership, which are focused in this paper.
Study on the practice case and desirable instruction for Career Education in faculty of business administration, 11, 1, 133, 151, 31 Mar. 2015, Since 2011, career oriented subjects had been introduced in Faculty of Business Administration, Josai University. This paper was focused to discuss actual instruction of career design subjects and first year seminar concerning career oriented education in Faculty of Business Administration. Career education during year 2011 and 2013 was described in the first chapter. Being based on the hypothesis that the earlier career education is more effective for the job hunting activities, introductory career education has been introduced to the first year students.
However, as the results were limited, the lecture contents were changed for more effective results in April 2014. In the second chapter, the effect for career education was verified by conducting questionnaires.
The third chapter pointed out four areas as practical instruction for career education. Finally, the fourth chapter presented basic academic skills and their results for the first year students and also development of teaching materials for the purpose of improving basic academic skills.
Millionaires and Entrepreneurs in America: Venture Investment Activities by wealthy individuals in the early 20th century, Josai Management Review, 11, 1, 27, 44, 31 Mar. 2015, This paper explores how wealthy American individuals invested and developed entrepreneurs in the early 20th century. Small firms and new business creation have become forces of development in the United States.
However, there were few financial institutions and organized merchants who can supply money to emerging business. The American entrepreneurs relied on personal connection than financial institutions. Especially, wealthy individuals invested their personal money to the entrepreneurs' new business and the individuals cooperated these ventures. The Guggenheims, Rockefellers, Whitneys were notable investors in private companies.
Modern venture capital financing with institutional investments and rational rules were formed during the 19th and 20th century. At that time wealthy individuals invested their money directly to entrepreneurs and also they committed their money to the venture capital funds as limited partners.
This paper shows that (1) many famous entrepreneurs and founders of venture capital firms received investment support from wealthy individuals who achieved great successes. (2) Their activity and relationship between investors and entrepreneurs was influential axes for developing venture capital financing.
Analysis of University Students' Attitudes toward the Learning of English and Discussion on Improvement of English Education in the Faculty of Business Administration : Based on a Survey Conducted for Career-Oriented and Globally-Oriented Undergraduate Education, Josai Teacher-Training Course Center Review, 3, 61, 74, 29 Mar. 2019, This paper organizes and analyzes the items related to English education from the results of the survey conducted in 2017 at the Faculty of Business Administration of Josai University, titled “Survey on the Current Status of Career- and Globally-oriented Undergraduate Education,” and discusses the future direction of English education in the Faculty of Business Administration. Also we tried to make a proposal about how it should be.
Current Conditions and Directions of Education at the Faculty of Management vis-a-vis Student Career Development, Junko Sakagami, Shikato Kamimura, Masato Ono, Josai management review, 15, 1, 71, 110, 31 Mar. 2019, 上村聖、小野正人, This paper compiles proposals on how the Josai University Faculty of Management educates and supports undergraduates in their future career development and in their transition from university to society and workplace, taking their current circumstances and viewpoints into account.
The proposals provided are based mainly on survey results obtained in the article given in the subtitle. The research group at the Faculty of Management conducted the survey in 2017. According to survey results, many students had relatively high understanding of their future career goals and were interested in learning related to their career development.
However, some students indicated that their learning abilities were inferior to other students in their age group. Some students indicated not having sufficient time to study due to long hours at part-time jobs and/or time spent on the Internet, etc. Some indicated having worries and concerns regarding career path, job-hunting, learning and financial problems. The study results also provide ideas for improvements in faculty operations aimed at motivating such students to learn and to lead them to further career development.
How well do college students understand basic knowledge? - A study based on the short quizzes in freshman class, Masato Ono, JOSAI Management Review, 17巻, 1号, 159, 170, 31 Mar. 2021, Josai University, This paper considers the basic academic ability of university students by analyzing the basic knowledge test of mathematics and social studies, conducted in the freshman class of the Faculty of Business Administration of Josai University. As a result of analyzing the test results for 8 years, the following points became clear. (1) Students with less than half the correct answer rate of questions account for 24.1% in mathematics and 19.6% in social studies. (2) The percentage of correct answers is low for "median and compound interest calculations" of mathematics and "Japanese high economic growth period, dividends, foreign currency" of social studies. These students may not understand themes that are rarely used in daily learning and life. (3) In the second retest, the percentage of correct answers has improved significantly, and it could be interpreted that the student has forgotten how to solve the problem rather than lack of basic knowledge. (4) It is found that there is a possibility that the remedial education, which is operated by compensating for the lack of basic knowledge and focusing on the review of "regaining the forgotten knowledge", will lead to the improvement of educational management.