List of Publications

Revised in April 2024

1.  Honjo, Y., Kato, M., & Takahashi, H., Who is willing to be rich and king? Founder-CEOs’ IPO and M&A intentions. Journal of Small Business Management (forthcoming).

2. Honjo, Y., Ono, A., & Tsuruta, D., The effect of physical collateral and personal guarantees on business startups. Journal of Economics and Businesss, 106172 (forthcoming). 

3.  Honjo, Y. & Kurihara, K., Target for campaign success: An empirical analysis of equity crowdfunding in Japan. Journal of Technology Transfer (forthcoming).

4. Honjo, Y., Ikeuchi, K., Nakamura, H., Does risk aversion affect individuals’ actions and interests in angel investing? Empirical evidence from Japan. Japan and the World Economy, 70,101253, June 2024.

5.  Honjo, Y., & Kurihara, K., Graduation of initial public offering firms from junior stock markets: Evidence from the Tokyo Stock Exchange. Small Business Economics, 60, 813-841, February 2023.

6.  Honjo, Y., Kwak, C., & Uchida, H., Initial funding and founders’ human capital: An empirical analysis using multiple surveys for start-up firms. Japan and the World Economy, 63, 101145, September 2022.

7.  Kato, M., Onishi, K., & Honjo, Y., Does patenting always help new firm survival? Understanding heterogeneity among exit routes. Small Business Economics, 59, 449-475, August 2022.

8.  Honjo, Y., Ikeuchi, K., & Nakamura, H., The mediating effect of financial motives in the association between entrepreneurial experience and subjective well-being: Evidence from Japan, Applied Research in Quality of Life, 17, 1043-1067, April 2022.

9.  Honjo, Y., & Kato, M., The impact of founder-CEO succession on new firm survival: Are founder-CEOs resilient to crises? International Small Business Journal, 40, 205-235, March 2022.

10.  Honjo, Y., Public or perish? From founding to initial public offering. Review of Managerial Science, 15, 1573-1610, August 2021.

11.  Honjo, Y., The impact of founders' human capital on initial funding: Evidence from Japan. Technovation, 100, 102191, February 2021.

12.  Yamada, K., & Honjo, Y., Petty cash from parents: Provision of liquidity to spin-offs by trade credit channel. Journal of Small Business Management, 58, 923-947, September 2020.

13.  Honjo, Y., & Nakamura, H., The link between entrepreneurship and informal investment: An international comparison. Japan and the World Economy, 54, 101012, June 2020.

14.  Honjo, Y., & Kato, M., Do initial financial conditions determine the exit routes of start-up firms? Journal of Evolutionary Economics, 29, 1119-1147, July 2019. Correction

15.  Honjo, Y., Doi, N., & Kudo, Y., The turnover of market leaders in growing and declining industries: Evidence from Japan. Journal of Industry Competition, and Trade, 18, 121-138, June 2018.

16.  Honjo, Y., & Nagaoka, S., Initial public offering and financing of biotechnology start-ups: Evidence from Japan. Research Policy, 47, 180-193, February 2018.

17.  Kato, M., & Honjo, Y., Entrepreneurial human capital and the survival of new firms in high- and low-tech sectors. Journal of Evolutionary Economics, 25, 925-957, November 2015.

18.  Honjo, Y., Why are entrepreneurship levels so low in Japan? Japan and the World Economy, 36, 88-101, November 2015.

19.  Kato, M., Okamuro, H., & Honjo, Y., Does founders' human capital matter for innovation? Evidence from Japanese start-ups. Journal of Small Business Management, 53, 114-128, January 2015.

20.  Honjo, Y., Kato, M., & Okamuro, H., R&D investment of start-up firms: Does founders' human capital matter? Small Business Economics, 42, 207-220, February 2014.

21.  Okamuro, H., Kato, M., & Honjo, Y., Determinants of R&D cooperation in Japanese start-ups. Research Policy, 40, 728-738, June 2011.

22.  Kato, M., & Honjo, Y., The persistence of market leadership: Evidence from Japan. Industrial and Corporate Change, 18, 1107-1133, December 2009.

23.  Honjo, Y., & Harada, N., SME policy, financial structure and firm growth: Evidence from Japan. Small Business Economics, 27, 289-300, December 2006.

24.  Kato, M., & Honjo, Y., Market share instability and the dynamics of competition: A panel data analysis of Japanese manufacturing industries. Review of Industrial Organization, 28, 165-182, March 2006.

25.  Harada, N., & Honjo, Y., Does the Creative Business Promotion Law enhance SMEs' capital investments? Evidence from a panel dataset of unlisted SMEs in Japan. Japan and the World Economy, 17, 395-406, December 2005.

26.  Honjo, Y., Growth of new start-up firms: Evidence from the Japanese manufacturing industry. Applied Economics, 34, 343-355, March 2004.

Although the above paper appeared in Applied Economics Letters because of the publisher's mistake, I hope you cite the paper published in Applied Economics.

27.  Honjo, Y., Do innovative start-ups really wish to go public? Evidence from Japanese electrical manufacturing companies. Applied Economics Letters, 8, 493-497, July 2001.

28.  Honjo, Y., Business failure of new software firms. Applied Economics Letters , 7 , 575-579, September 2000.

29.  Honjo, Y., Business failure of new firms: An empirical analysis using a multiplicative hazards model. International Journal of Industrial Organization, 18, 557-574, May 2000.

1.  Honjo, Y., Do profitable start-up firms grow faster? Evidence from Colombia. Cuadernos de Economia, 37, 727--754, 2018.

2.  Honjo, Y., & Kutsuna, K., An empirical analysis of the initial public offering intention: evidence from start-up firms in Japan. Corporate Ownership and Control, 7, 127--141, July 2010.

1.  Honjo, Y., & Yoshida, Y. (unpublished paper), 2024 (Under review).  

2.  Takahashi, H., Honjo, Y., & Kato, M. (unpublished paper), 2023 (Under revision: R2).

3.  Kato, M., & Honjo, Y., CEO succession and new-firm performance: Does successor origin matter? Discussion Paper Series, No. 213, School of Economics, Kwansei Gakuin University, 2020 (Under revision).

4.  Nakamura, H., Honjo, Y., & Ikeuchi, K., Potentiality and actuality: Characteristics and linkage of entrepreneurs and angel investors in Japan. RIETI Discussion Paper Series, 19-E-089, Research Institute of Economy, Trade and Industry, 2019 (Under revision).

5.  Honjo, Y., Nakamura, H., & Sun, X., The unbalanced levels of entrepreneurship between women and men. IBRCU Working Paper Series, No. 49, Institute of Business Research, Chuo University, 2019.

6.  Braguinsky, S., Honjo, Y., Nagaoka, S., & Nakamura, K., Science-based business: knowledge capital or entrepreneurial ability? Theory and evidence from a survey of biotechnology start-ups. IIR Working Paper Series, No. WP#10-05, Institute of Innovation Research, Hitotsubashi University, 2010.

1.  Honjo, Y., Iwaki, Y., Kato, M., Outside or inside the firm? The impact of debt financing on the exit routes of start-up firms, 2024  (Under revision: R1).

2.  Honjo, Y., Capital structure of start-up firms: an international comparison. (unpublished paper), KAKEN A Project (Kobe University), 2017.

3.  Ikeda, Y., & Honjo, Y., Trade credit or bank loans? Debt choice of start-up firms in Japan. IBRCU Working Paper Series, No. 35, Institute of Business Research, Chuo University, 2015.

4.  Honjo, Y., The impact of internal finance on capital growth: Evidence from start-up firms in Japan. IBRCU Working Paper Series, No. 28, Institute of Business Research, Chuo University, 2011.

5.  Honjo, Y., Start-up funding gaps and entrepreneurial human capital. IBRCU Working Paper Series, No. 17, Institute of Business Research, Chuo University, 2007.

6.  Kutsuna, K., & Honjo, Y., Start-up financing choice and post-entry performance. Discussion Paper Series, 2006-33, Graduate School of Business Administration, Kobe University, 2006.

1.  Honjo, Y., Kurihara, K., & Ikeda, Y., Are founder-CEOs resistant to delisting? An empirical analysis of IPO survival  (unpublished paper), 2022 (Under revision).

2.  Honjo, Y., & Ikeda, Y., Why do firms go private for restructuring? Evidence from Japan. IBRCU Working Paper Series, No. 30, Institute of Business Research, Chuo University, 2013.

3.  Honjo, Y., & Ueda, T., An empirical analysis of determinants of share repurchases: Evidence from Japan. IBRCU Working Paper Series, No. 23, Institute of Business Research, Chuo University, 2008.

4.  Zhang, Q.-C., & Honjo, Y., Does technological diversification affect R&D performance? Evidence from the Japanese pharmaceutical industry. IBRCU Working Paper Series, No. 18, Institute of Business Research, Chuo University, 2007.

5.  Honjo, Y., & Zhang, Q.-C., On the relationship between R&D efficiency and firm size: Evidence from the Japanese pharmaceutical industry. IBRCU Working Paper Series, No. 16, Institute of Business Research, Chuo University, 2006.

1.  Honjo, Y., & Kato, M., Turnover of market leaders: an empirical analysis based on a discrete-time duration model, IBRCU Working Paper Series, No. 20, Institute of Business Research, Chuo University, 2008.

2.  Kato, M., & Honjo, Y., The stability of market leadership positions in Japanese manufacturing industries, CPRC Discussion Paper Series, 15-E, Competition Policy Research Center, Fair Trade Commission of Japan, 2005.

3.  Honjo, Y., Entry and exit in the Japanese manufacturing industries, IPPS Discussion Paper Series, No. 812, Institute of Policy and Planning Sciences, University of Tsukuba, 1999.

1.  Honjo, Y.(ed.), Competition, Innovation, and Growth in Japan, Springer, 2017.

See this page (written in Japanese).