Performance information

• The Impact of Fossil Fuel Market Fluctuations on the Japanese Electricity Market During the COVID-19 Era　　　　　　　　　　　　　　　
  Kentaka Aruga; Md. Monirul Islam; Arifa Jannat
  Commodities, Volume：4, Number：2, First page：6, May 2025, [Reviewed], [Lead, Last, Corresponding]
  English, Scientific journal
  DOI：https://doi.org/10.3390/commodities4020006
  DOI ID：10.3390/commodities4020006, ORCID：184115732
• The Spatial Impact of PM2.5 Pollution on Economic Growth from 2012 to 2022: Evidence from Satellite and Provincial-Level Data in Thailand　　　　　　　　　　　　　　　
  Thanakhom Srisaringkarn; Kentaka Aruga
  Urban Science, Volume：9, Number：4, First page：110, Apr. 2025, [Reviewed], [Invited], [Last, Corresponding]
  English, Scientific journal
  DOI：https://doi.org/10.3390/urbansci9040110
  DOI ID：10.3390/urbansci9040110, ORCID：181586615
• Assessing investor preferences for environmental and sustainability bonds in Japan: A discrete choice experiment approach　　　　　　　　　　　　　　　
  Aruga, K.; Islam, Md. M.
  Green Finance, Volume：7, Number：2, First page：200, Last page：222, Mar. 2025, [Reviewed], [Lead, Last, Corresponding]
  English, Scientific journal
  DOI：https://doi.org/10.3934/GF.2025008
  DOI ID：10.3934/GF.2025008, 共同研究・競争的資金等ID：45298498
• Revealing the Interrelationship of Economic, Environmental, and Social Factors with Globalization in G-7 Countries Tourism Growth: A CS-ARDL Approach　　　　　　　　　　　　　　　
  Arifa Jannat; Md Monirul Islam; Kentaka Aruga
  Sustainable Futures, Volume：9, First page：100483, Last page：100483, Feb. 2025, [Reviewed], [Last]
  Elsevier BV, English, Scientific journal
  DOI：https://doi.org/10.1016/j.sftr.2025.100483
  DOI ID：10.1016/j.sftr.2025.100483, ISSN：2666-1888
• Harnessing complexity: integrating remote sensing and fuzzy expert system for evaluating land use land cover changes and identifying mangrove forest vulnerability in Bangladesh
  Islam, M.M.; Al Rafi, D.A.; Jannat, A.; Aruga, K.; Liebenehm, S.; Hossain, R.
  Journal of Coastal Conservation, Volume：29, Number：1, Jan. 2025, [Reviewed], [Last]
  English, Scientific journal
  DOI：https://doi.org/10.1007/s11852-024-01093-8
  DOI ID：10.1007/s11852-024-01093-8, ISSN：1874-7841, ORCID：179943375, SCOPUS ID：85217397222
• Effects of retail investors’ environmental awareness on their willingness to invest in environmental bonds: a comparison among green, blue, and sustainability bonds　　　　　　　　　　　　　　　
  Aruga, K.; Shinomura, N.
  Volume：38, First page：39, Last page：44, Dec. 2024, [Reviewed], [Lead, Last, Corresponding]
  Japanese, Scientific journal
  DOI：https://doi.org/10.11492/ceispapers.ceis38.0_39
  DOI ID：10.11492/ceispapers.ceis38.0_39, ORCID：179943691
• Forecasting Foreign Direct Investment Inflow to Bangladesh: Using an Autoregressive Integrated Moving Average and a Machine Learning-Based Random Forest Approach　　　　　　　　　　　　　　　
  Md. Monirul Islam; Arifa Jannat; Kentaka Aruga; Md Mamunur Rashid
  Journal of Risk and Financial Management, Volume：17, Number：10, First page：451, Oct. 2024, [Reviewed], [Lead]
  English, Scientific journal
  DOI：https://doi.org/10.3390/jrfm17100451
  DOI ID：10.3390/jrfm17100451, ORCID：169064120
• Disaggregated Impact of Non-Renewable Energy Consumption on the Environmental Sustainability of the United States: A Novel Dynamic ARDL Approach　　　　　　　　　　　　　　　
  Tanmoy Kumar Ghose; Md Rezanual Islam; Kentaka Aruga; Arifa Jannat; Md. Monirul Islam
  Sustainability, Volume：16, Number：19, First page：8434, Sep. 2024, [Reviewed]
  English, Scientific journal
  DOI：https://doi.org/10.3390/su16198434
  DOI ID：10.3390/su16198434, ORCID：168435138
• Assessing the CO2 Emissions and Energy Source Consumption Nexus in Japan　　　　　　　　　　　　　　　
  Kentaka Aruga; Md. Monirul Islam; Arifa Jannat
  Sustainability, Volume：16, Number：13, First page：5742, Last page：5742, Jul. 2024, [Reviewed], [Lead, Last]
  English, Scientific journal
  DOI：https://doi.org/10.3390/su16135742
  DOI ID：10.3390/su16135742, ORCID：163055376
• Comparing the willingness to invest returns among green, sustainability, and blue bonds
  Aruga, K.
  Journal of Environmental Management, Volume：364, First page：121458, Jul. 2024, [Reviewed], [Lead, Last, Corresponding]
  English, Scientific journal
  DOI：https://doi.org/10.1016/j.jenvman.2024.121458
  DOI ID：10.1016/j.jenvman.2024.121458, ISSN：1095-8630, ORCID：179943383, SCOPUS ID：85195691214
• Spatial effect of economic performance on the ecological footprint: evidence from Asian countries
  Qaisar Shahzad; Kentaka Aruga
  Environment, Development and Sustainability, Jun. 2024, [Reviewed], [Last, Corresponding]
  Springer Science and Business Media LLC, English, Scientific journal
  DOI：https://doi.org/10.1007/s10668-024-05134-y
  DOI ID：10.1007/s10668-024-05134-y, eISSN：1573-2975
• Effects of the COVID-19 Pandemic on the Tokyo Wholesale Tuna Market
  Aruga, K.
  Journal of International Food and Agribusiness Marketing, Volume：36, Number：3, First page：447, Last page：463, May 2024, [Reviewed], [Lead, Last, Corresponding]
  English, Scientific journal
  DOI：https://doi.org/10.1080/08974438.2022.2152518
  DOI ID：10.1080/08974438.2022.2152518, ISSN：1528-6983, ORCID：179943359, SCOPUS ID：85143402416
• Investigating the Consumption Patterns of Japanese Seafood during the COVID-19 Pandemic　　　　　　　　　　　　　　　
  Kentaka Aruga; Hiroki Wakamatsu
  Commodities, Volume：3, Number：2, First page：182, Last page：196, May 2024, [Reviewed], [Lead, Last, Corresponding]
  English, Scientific journal
  DOI：https://doi.org/10.3390/commodities3020012
  DOI ID：10.3390/commodities3020012, ORCID：160100749
• Are retail investors willing to buy green bonds? A case for Japan
  Aruga, K.
  Journal of Sustainable Finance and Investment, Volume：15, Number：2, First page：388, Last page：402, May 2024, [Reviewed], [Lead, Last, Corresponding]
  English, Scientific journal
  DOI：https://doi.org/10.1080/20430795.2024.2349723
  DOI ID：10.1080/20430795.2024.2349723, ISSN：2043-0809, ORCID：179943354, SCOPUS ID：85192781193
• Comparing factors affecting Chinese institutional investors’ willingness to pay for green bonds in Beijing, Shanghai, and Shenzhen
  Zenno, Y.; Aruga, K.
  Cogent Business and Management, Volume：11, Number：1, First page：2292365, Dec. 2023, [Reviewed], [Invited]
  English, Scientific journal
  DOI：https://doi.org/10.1080/23311975.2023.2292365
  DOI ID：10.1080/23311975.2023.2292365, ISSN：2331-1975, ORCID：179943379, SCOPUS ID：85179949536
• The impacts of COVID-19 on seafood prices in Japan: A comparison between cheap and luxury products
  Kentaka Aruga; Md. Monirul Islam; Arifa Jannat
  PLOS ONE, Volume：18, Number：10, First page：e0291395, Last page：e0291395, Oct. 2023, [Lead, Last, Corresponding]
  Like many other countries, the economy and society of Japan have been severely affected by the COVID-19 outbreak, and the fishery sector particularly seafood is no exception. Among seafood, since luxury seafood is more commonly consumed at restaurants it has a higher possibility of getting affected by the pandemic compared with cheap popular seafood for the masses. Considering this motivation, this study investigates the variations in the COVID-19 impact on luxury and cheap seafood prices in the Tokyo Toyosu wholesale market. Using the non-linear autoregressive distributed lag model (NARDL), the study identifies that an increase in the hours of stay-at-home during the initial stage of the pandemic is causing a negative influence on both cheap and luxury seafood prices and that this negative impact was severer in the luxury seafood prices. The study also finds a positive influence from the hours of stay-at-home on some cheap popular seafood like horse mackerel and sardine during the third state of emergency (SOE) where at least most of the elderly people have received their first vaccine dose but the negative impact from the SOE measure remained on luxury seafood. It is evident from the findings that the luxury seafood market is heavily dependent on the restaurant sector, which will likely suffer adverse effects when human mobility is restricted. In the event of a pandemic like COVID-19, policymakers should stabilize the price and provide subsidies to the luxury seafood stakeholders.
  Public Library of Science (PLoS), English, Scientific journal
  DOI：https://doi.org/10.1371/journal.pone.0291395
  DOI ID：10.1371/journal.pone.0291395, eISSN：1932-6203, ORCID：143745492
• Identifying factors affecting the preference for green bonds: a Japanese case study　　　　　　　　　　　　　　　
  Kentaka Aruga; Timothy Bolt
  Journal of Climate Finance, Volume：5, First page：100021, Last page：100021, Sep. 2023, [Reviewed], [Lead, Last, Corresponding]
  Elsevier BV, English, Scientific journal
  DOI：https://doi.org/10.1016/j.jclimf.2023.100021
  DOI ID：10.1016/j.jclimf.2023.100021, ISSN：2949-7280, ORCID：141529108
• The Dynamic Correlation and Volatility Spillover among Green Bonds, Clean Energy Stock, and Fossil Fuel Market
  Tang, C.; Aruga, K.; Hu, Y.
  Sustainability (Switzerland), Volume：15, Number：8, First page：6586, Apr. 2023, [Reviewed], [Last]
  English, Scientific journal
  DOI：https://doi.org/10.3390/su15086586
  DOI ID：10.3390/su15086586, ISSN：2071-1050, ORCID：179943380, SCOPUS ID：85156161606
• Does the Environmental Kuznets Curve Hold for Coal Consumption? Evidence from South and East Asian Countries
  Qaisar Shahzad; Kentaka Aruga
  Sustainability, Volume：15, Number：6, First page：5532, Last page：5532, Mar. 2023, [Reviewed], [Corresponding]
  Coal consumption plays a key role in achieving sustainable growth, although it also leads to significant environmental degradation. This study examines the environmental Kuznets curve (EKC) for coal consumption in South and East Asian countries from 1990 to 2020. We applied the augmented mean group (AMG) and common correlated mean group (CCEMG) estimators, which have several advantages over conventional panel techniques because it considers the endogeneity, slope heterogeneity, and cross-sectional dependency (CD). The study findings provide a comprehensive insight into the complex relationship between coal consumption and environmental degradation. The results show that EKC holds for coal consumption and reducing coal consumption is not enough to achieve environmental sustainability. The results also show that foreign investment and population positively impact coal consumption, while renewable energy negatively impacts coal consumption. This highlights that reducing coal consumption alone is not enough to reduce environmental degradation but there also needs to be a diversion of foreign investment inflow to the sustainable, environmentally friendly project. Furthermore, the share of renewable energy in total output is lower in South and East Asian countries, and it needs to be increased further. Furthermore, to promote renewable energy, foreign investment and population control may be necessary to achieve a sustainable environment while maintaining economic growth.
  MDPI AG, English, Scientific journal
  DOI：https://doi.org/10.3390/su15065532
  DOI ID：10.3390/su15065532, eISSN：2071-1050, ORCID：131361481
• Investigating Factors Affecting Institutional Investors’ Green Bond Investments: Cases for Beijing and Shenzhen
  Yoshihiro Zenno; Kentaka Aruga
  Sustainability, Volume：15, Number：6, First page：4870, Last page：4870, Mar. 2023, [Reviewed], [Last]
  We conducted a survey of institutional investors in Beijing and Shenzhen to analyze the factors affecting green bond (GB) investing in China, such as credit rating, GB issuer, fund use, liquidity, redemption term, certification label, and type of currency. We then compared the results for Beijing and Shenzhen, including factors that affected greenium and the two cities’ willingness to pay (WTP). Using a double-bounded dichotomous choice contingent valuation method, we find that higher credit ratings tend to increase Beijing investors’ WTP and that the use of GB proceeds affects Shenzhen investors’ WTP. We also find that investors place importance on the type of currency, length of redemption term, and liquidity when investing in GB, while the certification label does not have an impact on WTP. The WTP for GB was higher among Shenzhen investors than among Beijing investors. These findings provide important insights for the government and financial institutions to take the right action to expand the GB market and to establish a GB framework that induces the financial sector toward reducing greenhouse gas emissions.
  MDPI AG, English, Scientific journal
  DOI：https://doi.org/10.3390/su15064870
  DOI ID：10.3390/su15064870, eISSN：2071-1050, ORCID：130562145
• Editorial: Consumption of cities under the effects of COVID-19 and climate change
  Aruga, K.; Matsumoto, K.; Wakamatsu, H.
  Frontiers in Sustainable Cities, Volume：5, Jan. 2023, [Reviewed], [Invited], [Lead, Last, Corresponding]
  Frontiers Media SA, English, Scientific journal
  DOI：https://doi.org/10.3389/frsc.2023.1113709
  DOI ID：10.3389/frsc.2023.1113709, ISSN：2624-9634, eISSN：2624-9634, ORCID：179943362, SCOPUS ID：85147415388
• Institutional Investors’ Willingness to Pay for Green Bonds: A Case for Shanghai
  Yoshihiro Zenno; Kentaka Aruga
  Journal of Risk and Financial Management, Volume：15, Number：11, First page：508, Last page：508, Nov. 2022, [Reviewed], [Corresponding]
  The issuance of green bonds has been increasing since 2016 in China, and the number of papers covering the topic is growing. In previous studies on greenium, not much has been investigated from the institutional investors’ perspective. The study estimates the institutional investors’ level of greenium by surveying the institutional investors in Shanghai, China, from October 23 to 1 November 2021, using the double-bound dichotomous choice (DBDC) contingent valuation method (CVM). The study also analyzes the effects of variables that are known to be important for the green bond based on previous studies. The study identifies that there is a greenium level of 0.47%. Among the seven variables tested with logit regression models, the credit and currency of the bond had a positive effect on the greenium. The study provides helpful insights for issuers’ strategic planning and could be a stepping stone to increasing issuance not only for the Chinese green bond market but also for the global green bond market.
  MDPI AG, English, Scientific journal
  DOI：https://doi.org/10.3390/jrfm15110508
  DOI ID：10.3390/jrfm15110508, eISSN：1911-8074, ORCID：122109133
• Investigating the energy-environmental Kuznets curve under panel quantile regression: a global perspective
  Muhammad Iftikhar ul Husnain; Sisay Demissew Beyene; Kentaka Aruga
  Environmental Science and Pollution Research, Oct. 2022, [Reviewed]
  Springer Science and Business Media {LLC}, English, Scientific journal
  DOI：https://doi.org/10.1007/s11356-022-23542-3
  DOI ID：10.1007/s11356-022-23542-3, ISSN：0944-1344, eISSN：1614-7499, ORCID：121280465
• Effects of the Human-Mobility Change during the COVID-19 Pandemic on Electricity Demand
  Aruga, K.
  Journal of Risk and Financial Management, Volume：15, Number：10, First page：422, Sep. 2022, [Reviewed], [Lead, Last, Corresponding]
  English, Scientific journal
  DOI：https://doi.org/10.3390/jrfm15100422
  DOI ID：10.3390/jrfm15100422, ISSN：1911-8074, ORCID：179943382, SCOPUS ID：85140619834
• Developing Novel Technique for Investigating Guidelines and Frameworks: A Text Mining Comparison between International and Japanese Green Bonds
  Kentaka Aruga; Md. Monirul Islam; Yoshihiro Zenno; Arifa Jannat
  Journal of Risk and Financial Management, Volume：15, Number：9, First page：382, Last page：382, Aug. 2022, [Reviewed], [Lead, Last, Corresponding]
  In most cases, the official documents related to guidelines and frameworks are complicated, long, and hard to understand for general readers, regardless of whether the government and financial companies follow international standards or not. In this context, the current study examines how the green bond (GB) guidelines created by the Japanese government are aligned with the Green Bond Principles (GBP) and Climate Bonds Standard (CBS) through a text mining technique. It also investigates whether the GB frameworks for the Japanese public and private companies follow the GB guidelines of the Japanese government. While the CBS is the guideline that focuses on climate bonds, the GBP specializes in GB whose scope is broader. The word frequency and word cloud analyses identify that the documents created by the Japanese government and companies have more similarities with the GBP, indicating that the Japanese GB guidelines and frameworks are more aligned with the GBP than the CBS. A pairwise word network matrix analysis also reveals that the Japanese GB guidelines and frameworks are more focused on broader environmental issues and sustainability than the CBS, which had more similarities with the GBP than the CBS.
  MDPI AG, English, Scientific journal
  DOI：https://doi.org/10.3390/jrfm15090382
  DOI ID：10.3390/jrfm15090382, ISSN：1911-8074, eISSN：1911-8074, ORCID：118037002
• Effects of the State of Emergency during the COVID-19 Pandemic on Tokyo Vegetable Markets
  Aruga, K.; Islam, M.M.; Jannat, A.
  Sustainability (Switzerland), Volume：14, Number：15, First page：9719, Last page：9719, Aug. 2022, [Reviewed], [Lead, Last, Corresponding]
  The state of emergency (SOE) period in Tokyo under the COVID-19 pandemic restricted people to staying in their homes and changed human mobility, which has impacted the major agricultural markets in Tokyo. In this research, we analyzed how the changes in people’s staying-at-home behaviors during the four SOE periods (7 April 2020–28 October 2021) in Tokyo affected the daily market prices of cabbage, tomato, Japanese radish, carrot, and potato. Using the autoregressive distributed lag (ARDL) model, the study reveals that all the investigated vegetables except potatoes have a long-term relationship with the staying-at-home index. The long-term influence of staying-at-home behaviors on cabbage, tomato, radish, and carrot markets during the early SOE periods had a negative impact on these vegetable prices, indicating that an increase in the hours of staying-at-home as related to SOE measures might have decreased the demand for these vegetables. The negative impact of the stay-at-home index on vegetable prices lessened in the fourth SOE period, likely because more people did not remain in their homes. Moreover, the study findings reveal that, compared to less perishable vegetables, the price of perishable vegetables is more likely to have been affected by human mobility constraints during the pandemic. Therefore, agricultural policymakers should consider providing subsidies to producers based on the negative influence on market prices of perishable and less perishable vegetables in pandemic situations, such as COVID-19.
  {MDPI} {AG}, English, Scientific journal
  DOI：https://doi.org/10.3390/su14159719
  DOI ID：10.3390/su14159719, ISSN：2071-1050, eISSN：2071-1050, ORCID：179943376, SCOPUS ID：85137032240
• Investigating the Impact of International Markets on Imported and Exported Non-Cereal Crops in Bangladesh
  Dr. Arifa Jannat; Kentaka Aruga; Jun Furuya; Miyuki Iiyama
  Agriculture, Volume：12, Number：6, First page：833, Last page：833, Jun. 2022
  To maintain a sustainable market for major non-cereal crops in Bangladesh, the present study evaluated the asymmetric effect of the key macroeconomic variables on the imported and exported non-cereal crops. In this connection, this study evaluated the nonlinear interactions and co-movements between the international market indicators such as the world prices, total trade amount, and gross domestic product per capita (GDPPC) and the market prices of potato and rapeseed in Bangladesh. Using yearly data from 1988 to 2019, we used the nonlinear autoregressive distributed lag (NARDL) model to investigate both short- and long-term market dynamics concerning the positive and negative shocks in the macroeconomic variables on imported and exported non-cereal crops. First, the study identifies that during the period investigated, the world potato and rapeseed prices led to an increase in the Bangladesh potato and rapeseed prices when they are increasing. Second, we find that the changes in the trade volume only have an influence on the potato price, both in the long-run and short-run. Finally, our findings revealed that domestic rapeseed prices tend to decrease when the GDPPC increases. Our empirical findings imply that it is important for market participants of potato and rapeseed in Bangladesh to take into consideration the sensitivity of the above-mentioned variables when designing resource allocation decisions in the event of positive and negative effects.
  {MDPI} {AG}, English, Scientific journal
  DOI：https://doi.org/10.3390/agriculture12060833
  DOI ID：10.3390/agriculture12060833, eISSN：2077-0472, ORCID：114403064
• Revealing the pathway of reluctancy toward agricultural credit repayment: a case study on fish farmers in Bangladesh
  Dewan Abdullah Al Rafi; Sanzida Taurin; Kentaka Aruga; Md. Monirul Islam; Arifa Jannat
  SN Business & Economics, Volume：2, Number：6, First page：1, Last page：24, Jun. 2022, [Reviewed]
  Springer Science and Business Media {LLC}, English, Scientific journal
  DOI：https://doi.org/10.1007/s43546-022-00224-3
  DOI ID：10.1007/s43546-022-00224-3, ISSN：2662-9399, eISSN：2662-9399, ORCID：113002005
• Impact of the Number of Hours Spent at Home on the Volume of Municipal Waste Generated: Evidence from Tokyo during the COVID-19 Pandemic
  Aruga, K.
  Sustainability (Switzerland), Volume：14, Number：10, First page：1, Last page：10, May 2022, [Reviewed], [Lead, Last, Corresponding]
  English, Scientific journal
  DOI：https://doi.org/10.3390/su14106165
  DOI ID：10.3390/su14106165, ISSN：2071-1050, ORCID：179943384, SCOPUS ID：85130897081
• Future Issues of Environmental Economics　　　　　　　　　　　　　　　
  Kentaka Aruga
  First page：169, Last page：177, 2022
  Springer International Publishing
  DOI：https://doi.org/10.1007/978-3-030-95077-4_7
  DOI ID：10.1007/978-3-030-95077-4_7, ORCID：107795848
• Economic Instrument and Environmental Problems　　　　　　　　　　　　　　　
  Kentaka Aruga
  First page：19, Last page：58, 2022
  Springer International Publishing
  DOI：https://doi.org/10.1007/978-3-030-95077-4_2
  DOI ID：10.1007/978-3-030-95077-4_2, ORCID：107795847
• Economics and the Value of Nature　　　　　　　　　　　　　　　
  Kentaka Aruga
  First page：59, Last page：86, 2022
  Springer International Publishing
  DOI：https://doi.org/10.1007/978-3-030-95077-4_3
  DOI ID：10.1007/978-3-030-95077-4_3, ORCID：107795846
• Economics and Cross-Regional Environmental Problems　　　　　　　　　　　　　　　
  Kentaka Aruga
  First page：87, Last page：113, 2022
  Springer International Publishing
  DOI：https://doi.org/10.1007/978-3-030-95077-4_4
  DOI ID：10.1007/978-3-030-95077-4_4, ORCID：107795845
• Economics and Non-renewable/Renewable Resources　　　　　　　　　　　　　　　
  Kentaka Aruga
  First page：115, Last page：149, 2022
  Springer International Publishing
  DOI：https://doi.org/10.1007/978-3-030-95077-4_5
  DOI ID：10.1007/978-3-030-95077-4_5, ORCID：107795844
• Energy and Waste Problems　　　　　　　　　　　　　　　
  Kentaka Aruga
  First page：151, Last page：167, 2022
  Springer International Publishing
  DOI：https://doi.org/10.1007/978-3-030-95077-4_6
  DOI ID：10.1007/978-3-030-95077-4_6, ORCID：107795843
• What Is Environmental Economics?　　　　　　　　　　　　　　　
  Kentaka Aruga
  First page：1, Last page：18, 2022
  Springer International Publishing
  DOI：https://doi.org/10.1007/978-3-030-95077-4_1
  DOI ID：10.1007/978-3-030-95077-4_1, ORCID：107795842
• Environmental and Natural Resource Economics
  Aruga, K.
  Environmental and Natural Resource Economics, 2022
  Environmental and Natural Resource Economics, Scientific journal
  DOI：https://doi.org/10.1007/978-3-030-95077-4
  DOI ID：10.1007/978-3-030-95077-4, ORCID：179943348, SCOPUS ID：85149568944
• Relationships among the fossil fuel and financial markets during the COVID-19 pandemic: Evidence from bayesian DCC-MGARCH models
  Tang, C.; Aruga, K.
  Sustainability (Switzerland), Volume：14, Number：1, First page：51, Last page：51, 2022, [Reviewed], [Invited], [Last, Corresponding]
  This study examined how the relationships among the fossil fuel, clean energy stock, gold, and Bitcoin markets have changed since the COVID-19 pandemic took place for hedging the price change risks in the fossil fuel markets. We applied the Bayesian Dynamic Conditional Correlation-Multivariate GARCH (DCC-MGARCH) models using US daily data from 2 January 2019 to 26 February 2021. Our results suggest that the fossil fuel (WTI crude oil and natural gas) and financial markets (clean energy stock, gold, and Bitcoin) generally had negative relationships in 2019 before the pandemic prevailed, but they became positive for a while in mid-2020, alternating between positive (0.8) and negative values (−0.8). As it is known that negative relationships are required among assets to hedge the risk of price changes, this implies that stakeholders need to be cautious in hedging the risk across the fossil fuel and financial markets when a crisis like COVID-19 occurs. However, our study also revealed that such negative relationships only lasted for three to six months, suggesting that the effects of the pandemic were short term and that stakeholders in the fossil fuel markets could cross hedge with the financial markets in the long term.
  MDPI AG, English, Scientific journal
  DOI：https://doi.org/10.3390/su14010051
  DOI ID：10.3390/su14010051, ISSN：2071-1050, eISSN：2071-1050, ORCID：179943357, SCOPUS ID：85121604022
• Investigating the effects of altruism on consumer preference for food from disaster-affected regions: A case of Japan
  Aruga, K.; Bolt, T.
  Journal of Agriculture and Food Research, Volume：6, First page：100215, Last page：100215, Dec. 2021, [Reviewed], [Lead, Last, Corresponding]
  Elsevier BV, English, Scientific journal
  DOI：https://doi.org/10.1016/j.jafr.2021.100215
  DOI ID：10.1016/j.jafr.2021.100215, ISSN：2666-1543, ORCID：179943374, SCOPUS ID：85122699638
• Energy policy trade-offs in Poland: A best-worst scaling discrete choice experiment
  Aruga, K.; Bolt, T.; Pest, P.
  Energy Policy, Volume：156, First page：112465, Last page：112465, Sep. 2021, [Reviewed], [Lead, Last, Corresponding]
  Elsevier BV, English, Scientific journal
  DOI：https://doi.org/10.1016/j.enpol.2021.112465
  DOI ID：10.1016/j.enpol.2021.112465, ISSN：0301-4215, ORCID：179943385, SCOPUS ID：85109536627
• Does Staying at Home during the COVID-19 Pandemic Help Reduce CO2 Emissions?
  Aruga, K.; Islam, M.M.; Jannat, A.
  Sustainability (Switzerland), Volume：13, Number：15, First page：8534, Last page：8534, Jul. 2021, [Reviewed], [Invited], [Lead, Last, Corresponding]
  Quarantining at home during the COVID-19 pandemic significantly restricted human mobility such as visits to parks, grocery stores, workplaces, retail places, and transit stations. In this research, we analyzed how the changes in human mobility during the first wave of the COVID-19 pandemic, from February to April 2020 (i.e., between 17 February and 30 April 2020), affected the daily CO2 emissions for countries having a high number of coronavirus cases at that time. Our daily time-series analyses indicated that when average hours spent at home increased, the amount of daily CO2 emissions declined significantly. The findings suggest that for all three countries (the US, India, and France), a 1% increase in the average duration spent in residential areas reduced daily CO2 emissions by 0.17 Mt, 0.10 Mt, and 0.01 Mt, respectively, during the first wave period. Thus, confining people into their homes contributes to cutting down CO2 emissions remarkably. However, the study also reveals those activities such as visiting parks and going grocery shopping increase CO2 emissions, suggesting that unnecessary human mobility is undesirable for the environment.
  {MDPI} {AG}, English, Scientific journal
  DOI：https://doi.org/10.3390/su13158534
  DOI ID：10.3390/su13158534, ISSN：2071-1050, eISSN：2071-1050, ORCID：179943392, SCOPUS ID：85111729130
• Effects of the 2008 Financial Crisis and COVID-19 Pandemic on the Dynamic Relationship between the Chinese and International Fossil Fuel Markets
  Tang, C.; Aruga, K.
  Journal of Risk and Financial Management, Volume：14, Number：5, First page：1, Last page：11, May 2021, [Reviewed], [Invited], [Last, Corresponding]
  English, Scientific journal
  DOI：https://doi.org/10.3390/jrfm14050207
  DOI ID：10.3390/jrfm14050207, ISSN：1911-8074, ORCID：179943366, SCOPUS ID：85106998678
• Changes in Human Mobility under the COVID-19 Pandemic and the Tokyo Fuel Market
  Aruga, K.
  Journal of Risk and Financial Management, Volume：14, Number：4, First page：1, Last page：12, Apr. 2021, [Reviewed], [Invited], [Lead, Last, Corresponding]
  The study identifies the impact of the changes in human mobility due to the announcement of the state of emergency to cope with the COVID-19 pandemic on the Tokyo gasoline, diesel, and kerosene markets. Indices reflecting the movements in the visits to transit stations and workplaces were used to capture the changes in human mobility from February 2020 to February 2021. The linear and nonlinear ARDL (NARDL) models were applied to investigate the relationship between the changes in human mobility indices and fuel prices. Although only the kerosene price received an impact from the human mobility changes in the linear ARDL model, the NARDL model revealed that when human mobility was increasing, the fuel price was affected positively and the negative shocks in the mobility had an adverse influence on the fuel price. The results of the study imply the importance of providing subsidies when a state of emergency reduces fuel demands due to the decline in human mobility and negatively affects the fuel retail industry.
  MDPI AG, English, Scientific journal
  DOI：https://doi.org/10.3390/jrfm14040163
  DOI ID：10.3390/jrfm14040163, ISSN：1911-8074, eISSN：1911-8074, ORCID：179943386, SCOPUS ID：85107342866
• Potential Economic Impacts of the COVID-19 Pandemic on South Asian Economies: A Review
  Md. Monirul Islam; Arifa Jannat; Dewan Abdullah Al Rafi; Kentaka Aruga
  World, Volume：1, Number：3, First page：283, Last page：301, Dec. 2020, [Reviewed], [Invited]
  The present research analyzes the potential economic impact of the COVID-19 pandemic on South Asian economies using a systematic review approach. The cause-effect relationship framework showed that the outbreak of COVID-19 slowed down the gross domestic product (GDP) along with major economic sectors and indicators in the South Asian economies. The short and long-run predicted scenario showed that, compared to the agriculture sector, the service and manufacturing sectors will be affected more seriously in all South Asian countries. It was found that governments in the region are trying their best to adopt and implement expansionary fiscal strategies to combat this situation. Many countries have included farmers and allied workers in the government’s support system to utilize resources. In order to maintain the balance of international trade, the import and export of essential items must be given special support. To cope with this situation, governments can invest money from different autonomous institutions to expand Micro, Small, and Medium Enterprises (MSME). The findings of this research will be helpful for policy planners to formulate appropriate programs for short and long-run demands, along with economic and fiscal policies to sustain and revive the economic activity in South Asia.
  {MDPI} {AG}, English, Scientific journal
  DOI：https://doi.org/10.3390/world1030020
  DOI ID：10.3390/world1030020, ISSN：2673-4060, eISSN：2673-4060, ORCID：84833417
• Energy Prices and COVID-Immunity: The Case of Crude Oil and Natural Gas Prices in the US and Japan
  Honorata Nyga-Łukaszewska; Kentaka Aruga
  Energies, Volume：13, Number：23, First page：6300, Last page：6300, Nov. 2020, [Reviewed], [Invited], [Corresponding]
  The COVID-19 pandemic storm has struck the world economies and energy markets with extreme strength. The goal of our study is to assess how the pandemic has influenced oil and gas prices, using energy market reactions in the United States and Japan. To investigate the impact of the COVID-19 cases on the crude oil and natural gas markets, we applied the Auto-Regressive Distributive Lag (ARDL) approach to the number of the US and Japanese COVID-19 cases and energy prices. Our study period is from 21 January 2020 to 2 June 2020, and uses the latest data available at the time of model calibration and captures the so-called “first pandemic wave.” In the US, the COVID-19 pandemic had a statistically negative impact on the crude oil price while it positively affected the gas price. In Japan, this negative impact was only apparent in the crude oil market with a two-day lag. Possible explanations of the results may include differences in pandemic development in the US and Japan, and the diverse roles both countries have in energy markets.
  {MDPI} {AG}, English, Scientific journal
  DOI：https://doi.org/10.3390/en13236300
  DOI ID：10.3390/en13236300, ISSN：1996-1073, eISSN：1996-1073, ORCID：84417982
• A study on the pass-through rate of the exchange rate on the liquid natural gas (LNG) import price in China
  Tang, C.; Aruga, K.
  International Journal of Financial Studies, Volume：8, Number：4, First page：1, Last page：19, Nov. 2020, [Reviewed], [Corresponding]
  The Chinese liquid natural gas (LNG) import price has been unstable because the stability of LNG import prices is related to changes in the exchange rates. This paper analyzes the pass-through rate of the Chinese Yuan (CNY) and Japanese Yen (JPY) on the Chinese LNG import price. The Time-Varying Parameter vector autoregressive (TVP-VAR) model is adopted to verify the pass-through rate of the exchange rates on the LNG import price using the Markov chain Monte Carlo (MCMC) method. Since September 2005, the JPY pass-through rate on the Chinese LNG import price has been decreasing while that of the CNY has been increasing. Notably, the pass-through rate of CNY began to exceed that of JPY after 2008. Moreover, since 2005, the lag effect of the CNY on the Chinese LNG import price became longer compared to JPY. If any new currency reform of the CNY is implemented in the future, then the impact of JPY on the Chinese LNG import price could be reduced and the lag effect of the CNY on the Chinese LNG import price could become longer. Therefore, the fluctuation of the CNY is becoming an important factor in understanding the movements of the Chinese LNG import price. This implies the significance of considering the effect of the exchange rate on an energy market when the market is influenced by a monetary reform of the importing country.
  MDPI AG, English, Scientific journal
  DOI：https://doi.org/10.3390/ijfs8040070
  DOI ID：10.3390/ijfs8040070, ISSN：2227-7072, eISSN：2227-7072, ORCID：179943363, SCOPUS ID：85096377767
• Is environmental awareness a good predictor of an individual's altruism level?
  Aruga, K.
  Sustainability (Switzerland), Volume：12, Number：19, First page：1, Last page：12, Sep. 2020, [Reviewed], [Lead, Last, Corresponding]
  English, Scientific journal
  DOI：https://doi.org/10.3390/SU12197929
  DOI ID：10.3390/SU12197929, ISSN：2071-1050, ORCID：179943361, SCOPUS ID：85092184546
• Is the willingness to support disaster regions through consumption related to altruism? A discrete choice experiment　　　　　　　　　　　　　　　
  Kentaka Aruga; Timothy Bolt
  International Journal of Disaster Risk Reduction, Volume：50, First page：1, Last page：12, Sep. 2020, [Reviewed], [Lead]
  Elsevier BV, Scientific journal
  DOI：https://doi.org/10.1016/j.ijdrr.2020.101876
  DOI ID：10.1016/j.ijdrr.2020.101876, ISSN：2212-4209
• Effects of the 2008 financial crisis on the linkages among the oil, gold, and platinum markets
  Kentaka Aruga; Sudha Kannan
  Cogent Economics & Finance, Volume：8, Number：1, First page：1, Last page：13, Aug. 2020, [Reviewed], [Lead, Last, Corresponding]
  Informa UK Limited, Scientific journal
  DOI：https://doi.org/10.1080/23322039.2020.1807684
  DOI ID：10.1080/23322039.2020.1807684, ISSN：2332-2039
• Radiation knowledge and willingness to buy bottled water from regions near the Fukushima Daiichi Nuclear Power Plant
  Kentaka Aruga
  Water International, Volume：45, Number：7-8, First page：812, Last page：823, Aug. 2020, [Reviewed], [Lead, Last, Corresponding]
  Informa UK Limited, English, Scientific journal
  DOI：https://doi.org/10.1080/02508060.2020.1795789
  DOI ID：10.1080/02508060.2020.1795789, ISSN：0250-8060, eISSN：1941-1707, ORCID：122374866
• Effects of COVID-19 on Indian energy consumption
  Aruga, K.; Islam, M.M.; Jannat, A.
  Sustainability (Switzerland), Volume：12, Number：14, First page：5616, Last page：5616, Jul. 2020, [Reviewed], [Lead, Last, Corresponding]
  Just after the Indian government issued the first lockdown rule to cope with the increasing number of COVID-19 cases in March 2020, the energy consumption in India plummeted dramatically. However, as the lockdown relaxed, energy consumption started to recover. In this study, we investigated how COVID-19 cases affected Indian energy consumption during the COVID-19 crisis by testing if the lockdown release had a positive impact on energy consumption and if richer regions were quicker to recover their energy consumption to the level before the lockdown. Using the autoregressive distributed lag (ARDL) model, the study reveals that a long-run relationship holds between the COVID-19 cases and energy consumption and that the COVID-19 cases have a positive effect on Indian energy consumption. This result indicates that as lockdown relaxed, energy consumption started to recover. However, such a positive impact was not apparent in the Eastern and North-Eastern regions, which are the poorest regions among the five regions investigated in the study. This implies that poorer regions need special aid and policy to recover their economy from the damage suffered from the COVID-19 crisis.
  {MDPI} {AG}, Scientific journal
  DOI：https://doi.org/10.3390/su12145616
  DOI ID：10.3390/su12145616, ISSN：2071-1050, eISSN：2071-1050, ORCID：179943390, SCOPUS ID：85088628559
• Analyzing the condition of Japanese electricity cost linkages by fossil fuel sources after the Fukushima disaster
  Kentaka Aruga
  Energy Transitions, Volume：4, Number：1, First page：91, Last page：100, Jun. 2020, [Reviewed]
  Springer Science and Business Media LLC, Scientific journal
  DOI：https://doi.org/10.1007/s41825-020-00025-y
  DOI ID：10.1007/s41825-020-00025-y, ISSN：2520-1166, eISSN：2520-114X
• Are Oil and Gas Prices Immune to COVID-19?　　　　　　　　　　　　　　　
  Aruga, K; Nyga-Łukaszewska, H
  IAEE ENERGY FORUM, Volume：Covid-19 Special Issue(Special Issue), First page：94, Last page：97, May 2020, [Reviewed], [Invited], [Lead]
  English, Research institution
• Energy security of Poland and coal supply: Price analysis
  Nyga-Lukaszewska, H.; Aruga, K.; Stala-Szlugaj, K.
  Sustainability (Switzerland), Volume：12, Number：6, First page：2541, Last page：2541, Mar. 2020, [Reviewed]
  Energy security is one of the most intensely debated topics. Majority of papers treat the issue from the hydrocarbon market perspective, but this research focuses on the coal market broken into two specific market segments: heating and electricity production. Using the case of Poland as an example, we conduct a cointegration analysis between the coal and natural gas markets. The study uses monthly data from 2011 until the beginning of 2019. Our results show that the Polish electricity sector is more connected to the international coal market than it is to the natural gas market, while the heating sector, despite using insignificant quantities of imported coal, is more connected to the natural gas market. Hence, energy security—in its price dimension—in those two market segments differs. This situation has important policy implications. First, energy policy should take this difference into account, and second, such variation implies that different market tools should be used in those market segments.
  MDPI AG, Scientific journal
  DOI：https://doi.org/10.3390/su12062541
  DOI ID：10.3390/su12062541, ISSN：2071-1050, eISSN：2071-1050, ORCID：179943395, SCOPUS ID：85082964848
• Consumer Behavior to Support the Disaster Region and Altruistic Perception　　　　　　　　　　　　　　　
  Kentaka Aruga
  Volume：33, First page：205, Last page：210, Nov. 2019, [Reviewed], ［Domestic magazine］
  Japanese, Scientific journal
  DOI：https://doi.org/10.11492/ceispapers.ceis33.0_205
  DOI ID：10.11492/ceispapers.ceis33.0_205, ORCID：77465702
• Investigating the energy-environmental Kuznets curve hypothesis for the Asia-Pacific region
  Aruga, K.
  Sustainability (Switzerland), Volume：11, Number：8, First page：2395, Last page：2395, Apr. 2019, [Reviewed]
  {MDPI} {AG}, English, Scientific journal
  DOI：https://doi.org/10.3390/su11082395
  DOI ID：10.3390/su11082395, ISSN：2071-1050, ORCID：179943381, SCOPUS ID：85066940727
• Investigating the price linkage between the Asian LNG spot and east Asian LNG prices and its implications　　　　　　　　　　　　　　　
  Jeremia Dwi Martono; Kentaka Aruga
  International Journal of Global Energy Issues, Volume：41, Number：1-4, First page：86, Last page：97, 2018, [Reviewed]
  This study investigates the price linkages among the Asian LNG spot and East Asian LNG prices to examine the existence of a long run relationship among the spot, Japanese, South Korean, Taiwanese, and Chinese LNG prices using co-integration analysis over the 2009–2014 period. The results show that the Asian LNG spot price did not have a price linkage with both monthly averages of Japanese and Taiwanese LNG prices. The analyses also indicated that the South Korean LNG market moved together with the Asian LNG spot market. Lastly, the study discovered that the Chinese LNG market was somewhat influenced by the dynamics of the Asian LNG spot market. The findings corroborate the International Energy Agency’s views on the importance of creating a natural gas trading hub in Asia that reflects the dynamics of the gas market in the Asia Pacific Basin and making the Asian gas market to become more uniform.
  Inderscience Enterprises Ltd., English, Scientific journal
  DOI：https://doi.org/10.1504/IJGEI.2018.092305
  DOI ID：10.1504/IJGEI.2018.092305, ISSN：0954-7118, SCOPUS ID：85048864734
• Consumer Perceptions toward Seafood Produced near the Fukushima Nuclear Plant　　　　　　　　　　　　　　　
  Kentaka Aruga; Hiroki Wakamatsu
  Marine Resource Economics, Volume：33, Number：4, First page：373, Last page：386, 2018, [Reviewed]
  This study investigates consumer perceptions toward seafood produced from regions near the Fukushima Daiichi Nuclear Power Plant (FDNPP). It applies probit and latent class analyses on consumer survey data for tuna fish and wakame seaweed from regions near the FDNPP. We find consumers who perceive a high risk of radioactive contamination of food, have children, and a higher level of academic achievement tend to react negatively toward buying seafood from regions near the FDNPP. However, elderly individuals and those sensitive to environmental issues respond positively toward such seafood. The latent class analysis revealed a consumer group that enthusiastically supports the disaster-affected region and has a higher willingness to buy products from the region. The results provide valuable information to help alleviate the economic effects resulting from negative perceptions toward seafood from these regions.
  UNIV CHICAGO PRESS, English, Scientific journal
  DOI：https://doi.org/10.1086/698998
  DOI ID：10.1086/698998, ISSN：0738-1360, eISSN：2334-5985, Web of Science ID：WOS:000445085000004
• Consumer responses to food produced near the Fukushima nuclear plant　　　　　　　　　　　　　　　
  Kentaka Aruga
  Environmental Economics and Policy Studies, Volume：19, Number：4, First page：677, Last page：690, Oct. 2017, [Reviewed]
  This study examines consumer survey data on seven agricultural products (rice, apples, cucumbers, beef, pork, eggs, and shiitake mushrooms) from regions near the Fukushima Daiichi nuclear power plant (FDNP) to determine which factors and attributes affect consumers’ purchasing behavior, as measured using the contingent valuation method. We found that consumers who prioritize food safety believe that the risk of radiation contamination became high after the Fukushima nuclear incident. These consumers, who live at a distance from the FDNP and have children under the age of 15, require a higher discount rate to accept agricultural products from regions near the power plant. Conversely, our study indicated that consumers who trust the current safety standards for radioactive material concentrations in food are knowledgeable about radiation and radioactive materials, have high environmental consciousness, and are older that are more likely to purchase products from regions near the plant.
  Springer Tokyo, English, Scientific journal
  DOI：https://doi.org/10.1007/s10018-016-0169-y
  DOI ID：10.1007/s10018-016-0169-y, ISSN：1432-847X, SCOPUS ID：84980012109
• Consumer Reaction, Food Production and the Fukushima Disaster　　　　　　　　　　　　　　　
  Kentaka Aruga
  Jul. 2017
  Springer, English
  DOI：https://doi.org/10.1007/978-3-319-59849-9
  DOI ID：10.1007/978-3-319-59849-9, ORCID：35423988
• Effects of population increase on the environment: recent debates　　　　　　　　　　　　　　　
  有賀健高
  石川県立大学年報, Volume：2015, First page：28‐33, Last page：33, Oct. 2016, [Lead, Last, Corresponding]
  Japanese, Research institution
  DOI ID：10.20715/aripu.2015.0_28, ISSN：1881-9605, J-Global ID：201602291394146379, CiNii Articles ID：40021029367, CiNii Books ID：AA12164962
• The U.S. shale gas revolution and its effect on international gas markets　　　　　　　　　　　　　　　
  Kentaka Aruga
  Journal of Unconventional Oil and Gas Resources, Volume：14, First page：1, Last page：5, Jun. 2016, [Reviewed]
  The U.S. natural gas price dropped dramatically in the U.S. after the shale gas revolution. This paper investigated if the change in the structure of the U.S. natural gas market after the revolution is affecting the Japanese and European gas markets. We used the Bai-Perron test to identify the break date related to the shale gas revolution and tested if the market linkages among the U.S., Japanese, and European gas markets changed before and after the statistically determined break date. The result indicated that the U.S. gas market had a price relationship with the international markets for the period before the break date related to the shale gas revolution, but this relationship disappeared for the period after the break date. This result implied that the U.S. gas market became independent after the shale gas revolution and that the price linkage between the U.S. and international gas markets became weaker after the shale gas revolution. The study revealed that the effect of the U.S. shale gas revolution is not yet affecting the international gas markets.
  Elsevier Ltd, English, Scientific journal
  DOI：https://doi.org/10.1016/j.juogr.2015.11.002
  DOI ID：10.1016/j.juogr.2015.11.002, ISSN：2213-3976, SCOPUS ID：84959466679
• Testing market integration for Japanese retail seafood markets　　　　　　　　　　　　　　　
  Kentaka Aruga; Raymond Li
  AUSTRALIAN JOURNAL OF AGRICULTURAL AND RESOURCE ECONOMICS, Volume：60, Number：2, First page：212, Last page：226, Apr. 2016, [Reviewed]
  Although Japan is one of the largest seafood-consuming countries, with various types of seafood products traded throughout the nation, few studies have explored how this market is integrated from the aspect of market price. Because Japanese consumers in different regions have different preferences for seafood, we focused our study to see how the regional seafood retail markets (Tokyo, Osaka, Nagoya, Sapporo, and Fukuoka) are integrated for 10 major seafood products (horse mackerel, short-necked clams, yellowtail, scallops, cuttlefish/squid, flounder, tuna, mackerel, saury, and octopus) consumed in Japan. We applied the relatively new Phillips-Sul convergence test for our analysis. For most of the seafood products investigated in this study, our results indicate that the Japanese regional seafood markets cannot be integrated as a whole and that marketing strategies need to consider the peculiar characteristics of the regional seafood markets.
  WILEY-BLACKWELL, English, Scientific journal
  DOI：https://doi.org/10.1111/1467-8489.12121
  DOI ID：10.1111/1467-8489.12121, ISSN：1364-985X, eISSN：1467-8489, SCOPUS ID：84935085949, Web of Science ID：WOS:000373614200008
• Testing the international crude oil market integration with structural breaks　　　　　　　　　　　　　　　
  Aruga, K.
  Economics Bulletin, Volume：35, Number：1, First page：641, Last page：649, Mar. 2015, [Reviewed]
  English, Scientific journal
  ORCID：35187084, SCOPUS ID：84940051082
• Are Environmentally Conscious Consumers More Likely to Buy Food Produced Near the Fukushima Nuclear Plant? An Investigation from a Consumer Survey　　　　　　　　　　　　　　　
  ARUGA KENTAKA
  環境情報科学, Volume：28, First page：223, Last page：226, Dec. 2014, [Reviewed]
  The purpose of this paper is to understand consumer preference for food produced near the Fukushima nuclear plant in order to debunk radiation rumors. To achieve this goal, the paper mainly investigated the effects of environmental consciousness on the purchase behavior for food produced near the nuclear plant. According to our analysis, using consumer survey data, consumers that have high environmental consciousness tend to show preference for food produced near the nuclear plant. Our study also reveals that consumers who have trust in the current Japanese food radiation standards, aged, and male have positive effects on preference for food produced near the nuclear plant. On the other hand, income, education, number of children, and distance from the plant have negative effects on the preference.
  Center for Environmental Information Science, Japanese
  DOI：https://doi.org/10.11492/ceispapers.ceis28.0_223
  DOI ID：10.11492/ceispapers.ceis28.0_223, ISSN：0389-6633, J-Global ID：201502220159478156, CiNii Articles ID：130005162747
• An intervention analysis on the Tokyo grain exchange non-genetically modified and conventional soybean futures markets　　　　　　　　　　　　　　　
  Kentaka Aruga
  Cogent Economics and Finance, Volume：2, Number：1, First page：1, Last page：11, 2014, [Reviewed]
  This paper examines how efficiently the price premium for non-genetically modified (non-GM) soybeans at the Tokyo Grain Exchange (TGE) reacts to an announcement to change the contract unit, suppliers, and expiration date on the conventional soybean futures contract. An intervention analysis is used for this purpose. The results reveal that the price premium for non-GM soybeans increases after the change and this effect did not disappear immediately. This implies that the two soybean futures markets did not respond quickly to the announcement and there was an informational inefficiency after the announcement. The TGE non-GM soybean futures market is one of the first segregated markets for a non-GM commodity. An intervention of clearing houses on such newly opened markets can often lead to market inefficiency so a further study is necessary in order to understand what causes such inefficiency and to find out how clearing houses can minimize the effects of intervention.
  Cogent OA, English, Scientific journal
  DOI：https://doi.org/10.1080/23322039.2014.918854
  DOI ID：10.1080/23322039.2014.918854, ISSN：2332-2039, SCOPUS ID：85015555788
• The impact of the shale gas revolution on the US and Japanese natural gas markets　　　　　　　　　　　　　　　
  Hiroki Wakamatsu; Kentaka Aruga
  ENERGY POLICY, Volume：62, First page：1002, Last page：1009, Nov. 2013, [Reviewed]
  We investigated whether the increase in the US shale gas production changed the structures of the US and Japanese natural gas markets using market data for the period 2002:5-2012:5. Our analysis consists of a structural break test and market integration analysis. The Bai and Perron structural break test detected a break point of natural gas prices and consumption in 2005 as well as other external shocks Hurricane Katrina and the Lehman Shock - that are irrelevant to shale gas development. We eliminated the impact of these shocks by separating the data set using the breaks identified in our analysis. We found the breaks skewed the estimation; a market linkage existed between the US and Japanese markets in the original data set, while it did not in the separated data. The vector autoregressive (VAR) model also indicated a significant change before and after the break point; the US market had a one-side influence on the Japanese market before 2005, but the influence disappeared after 2005. Our results implied that the shale gas revolution, triggered by the increase in shale gas production in 2005, caused the change in the relationship between the US and Japanese natural gas markets. (C) 2013 Elsevier Ltd. All rights reserved.
  ELSEVIER SCI LTD, English, Scientific journal
  DOI：https://doi.org/10.1016/j.enpol.2013.07.122
  DOI ID：10.1016/j.enpol.2013.07.122, ISSN：0301-4215, eISSN：1873-6777, SCOPUS ID：84884973408, Web of Science ID：WOS:000326770300100
• Linkages among the US energy futures markets
  Kentaka Aruga; Shunsuke Managi
  International Journal of Global Energy Issues, Volume：36, Number：1, First page：13, Last page：26, 2013, [Reviewed]
  This study investigates the price linkage among the US major energy sources, considering structural breaks in time series, to provide information for diversifying the US energy sources. We find that only a weak linkage sustains among crude oil, gasoline, heating oil, coal, natural gas, uranium and ethanol futures prices. This implies that the US major energy source markets are not integrated as one primary energy market. Our tests also reveal that uranium and ethanol futures prices have very weak linkages with other major energy source prices. This indicates that the US energy market is still at a stage where none of the probable alternative energy source markets are playing the role as substitute or complement markets for the fossil fuel energy markets.
  English, Scientific journal
  DOI：https://doi.org/10.1504/IJGEI.2013.055934
  DOI ID：10.1504/IJGEI.2013.055934, ISSN：0954-7118, SCOPUS ID：84882943974
• Testing the effects of the Japanese vehicle emission-control law on the international palladium futures market　　　　　　　　　　　　　　　
  Aruga, K.; Managi, S.
  Economics Bulletin, Volume：32, Number：2, First page：1198, Last page：1207, Dec. 2012, [Reviewed]
  This paper tested the effects of the 2005 vehicle emission-control law issued in Japan on the market linkages between the U.S. and Japanese palladium futures markets, To determine these effects, we applied a cointegration test both with and without break points in the time series and found that the market linkages between the two countries changed after the break in October 2005. Our results show that the 2005 long-term regulation of vehicle emissions enacted in Japan influenced the international palladium futures market.
  Scientific journal
  ORCID：35187083, SCOPUS ID：84873323803
• Diversity on fisheries: Price volatilities in the Japanese market
  Kentaka Aruga; Shunsuke Managi
  The Economics of Biodiversity and Ecosystem Services, First page：202, Last page：216, Jan. 2012
  Taylor and Francis, English, In book
  DOI：https://doi.org/10.4324/9780203097878
  DOI ID：10.4324/9780203097878, SCOPUS ID：84917279407
• Market delineation among the Japanese retail fish markets
  Kentaka Aruga; Shunsuke Managi
  The Economics of Biodiversity and Ecosystem Services, First page：217, Last page：227, Jan. 2012
  Taylor and Francis, English, In book
  DOI：https://doi.org/10.4324/9780203097878
  DOI ID：10.4324/9780203097878, SCOPUS ID：84917275240
• Testing the international linkage in the platinum-group metal futures markets　　　　　　　　　　　　　　　
  Kentaka Aruga; Shunsuke Managi
  RESOURCES POLICY, Volume：36, Number：4, First page：339, Last page：345, Dec. 2011, [Reviewed]
  This study tests whether an international market exists in the platinum-group metal (PGM) futures markets. For this purpose, we tested the law of one price (LOP) and the causality between the U.S. and Japanese platinum and palladium futures markets. We also performed the test when structural breaks are considered. Long-run price relationships were found in both platinum and palladium markets but the LOP only sustained in the palladium market. The causality test revealed that it is the U.S. market that leads the price to transmit information between the U.S. and Japanese markets. Structural breaks had large impacts on the test results, suggesting that incorporating breaks is important when investigating the international price linkage in the PGM futures markets. (C) 2011 Elsevier Ltd. All rights reserved.
  ELSEVIER SCI LTD, English, Scientific journal
  DOI：https://doi.org/10.1016/j.resourpol.2011.09.003
  DOI ID：10.1016/j.resourpol.2011.09.003, ISSN：0301-4207, SCOPUS ID：81955167422, Web of Science ID：WOS:000298532100005
• Price linkages in the copper futures, primary, and scrap markets　　　　　　　　　　　　　　　
  Kentaka Aruga; Shunsuke Managi
  RESOURCES CONSERVATION AND RECYCLING, Volume：56, Number：1, First page：43, Last page：47, Nov. 2011, [Reviewed]
  This study investigates how markets for different levels of copper purity are interrelated by testing the long-run price linkage and causalities among the copper futures, primary, copper scrap, and brass scrap markets. It is expected that copper markets that deal with high purity levels, such as the futures, primary, and copper scrap markets, have a long-run relationship. However, brass scrap markets where copper with a lower purity is traded may not have a price linkage with other copper markets. The results reveal that a long-run relationship holds between the futures, primary, and copper scrap markets but the brass scrap market does not have a long-run relationship with the other markets. From the short-run and long-run causality tests, we determine that the futures market plays an important role in transmitting price information to other copper markets while such information flow is not found for the brass scrap market. (C) 2011 Elsevier B.V. All rights reserved.
  ELSEVIER SCIENCE BV, English, Scientific journal
  DOI：https://doi.org/10.1016/j.resconrec.2011.08.010
  DOI ID：10.1016/j.resconrec.2011.08.010, ISSN：0921-3449, SCOPUS ID：80053479513, Web of Science ID：WOS:000297524500005
• 非遺伝子組換え大豆とエネルギーの価格関係について　　　　　　　　　　　　　　　
  ARUGA KENTAKA
  環境情報科学, Volume：25, First page：85, Last page：88, Nov. 2011, [Reviewed]
  In the United States, recently the use of soybeans as an energy source has drawn attention. It is concerned in Japan that if the use of soybeans for energy keeps increasing, not only the price of conventional soybeans, which is used for soybean oil, but also the price of non-genetically modified organism (Non-GMO) soybeans, which is consumed for food, will increase. This paper examines the price relationships between the non-GMO and conventional soybean prices, and energy prices such as those of crude oil and ethanol using the cointegration methods. The results suggest that the prices of the non-GMO and conventional soybeans do not have price relationships with those of the energy prices. This implies that the non-GMO and conventional soybean markets are not affected by the energy markets.
  Center for Environmental Information Science, Japanese
  DOI：https://doi.org/10.11492/ceispapers.ceis25.0_85
  DOI ID：10.11492/ceispapers.ceis25.0_85, ISSN：0389-6633, J-Global ID：201102255964951126, CiNii Articles ID：130005162564, CiNii Books ID：AN10544669
• Tests on price linkage between the U.S. and Japanese gold and silver futures markets　　　　　　　　　　　　　　　
  Aruga, K.; Managi, S.
  Economics Bulletin, Volume：31, Number：2, First page：1038, Last page：1046, Jul. 2011, [Reviewed]
  We tested the price linkage, the law of one price (LOP) condition, and the causality of the price linkage between the U.S. and Japanese gold and silver futures markets with consideration of structural breaks in the price series. The LOP condition did not hold for both the gold and silver markets when structural breaks were not considered but it sustained in some periods when it was tested for the break periods. We found from the causality test that the price linkage between the U.S. and Japanese gold and silver futures markets were led by the U.S. market.
  Scientific journal
  ORCID：35187082, SCOPUS ID：79959809995
• Are the Tokyo Grain Exchange non-genetically modified organism (non-GMO) and conventional soybean futures markets integrated?　　　　　　　　　　　　　　　
  Kentaka Aruga
  Agricultural Finance Review, Volume：71, Number：1, First page：84, Last page：97, May 2011, [Reviewed]
  Purpose – The purpose of this paper is to test the market linkage and the strength of the linkage between the identity-preserved (IP) non-genetically modified organism (non-GMO) and non-IP conventional soybean futures markets at the Tokyo Grain Exchange (TGE) when effects from structural breaks are considered. Design/methodology/approach – The Johansen method is used for testing the market linkage and the law of one price (LOP) test is performed to find out the strength of the linkage. The Bai-Perron test is conducted on the price series to identify the structural breaks. After the breaks are statistically determined by the Bai-Perron test the Johansen tests are conducted for every break period. Findings – Market linkage exists between the non-GMO and conventional soybean futures markets but the LOP test suggests that the two markets are not fully linked and the relative price of the two soybeans is not constant. The breaks identified in the study affected the market linkage
  the price relationship is lost during the break periods. Practical implications – The results of this study help explain the value of other new markets where the product traded is a close substitute for an existing market. Originality/value – This is the first study to apply the market integration theory to an IP market. The TGE non-GMO soybean contract is the first market price series with sufficient information to appropriately model a price integration linkage for an IP market. The result is valuable in the future when more markets for IP commodities are developed.
  Emerald Group Publishing Ltd., English, Scientific journal
  DOI：https://doi.org/10.1108/00021461111128174
  DOI ID：10.1108/00021461111128174, ISSN：2041-6326, SCOPUS ID：81955163628
• Market efficiency in the non-genetically modified soybean futures market
  Kentaka Aruga
  Journal of Agricultural and Food Industrial Organization, Volume：9, Number：1, 2011, [Reviewed]
  The world's first non-genetically modified (non-GM) soybean futures market opened in May 2000 but no studies have tested whether this market transmits price information efficiently. This study investigates the market efficiency of the non-GM and conventional soybean futures markets and their information flow between the futures and spot prices. The Johansen cointegration test is used for this purpose. The results suggest that both the non-GM and conventional soybean futures markets are efficient, but the non-GM soybean futures market is relatively inefficient compared to the conventional soybean futures market. In both soybean futures markets long-run information flow was found from the spot market to the futures market and existence of such causality supports that these futures markets function efficiently. © 2011 De Gruyter. All rights reserved.
  English, Scientific journal
  DOI：https://doi.org/10.2202/1542-0485.1345
  DOI ID：10.2202/1542-0485.1345, ISSN：1542-0485, SCOPUS ID：84855366506
• Essays on the Efficiency of Non-Genetically Modified and Conventional Soybean Futures Markets　　　　　　　　　　　　　　　
  Kentaka Aruga
  University of Rhode Island, May 2010, [Lead, Last, Corresponding]
  English, Doctoral thesis
• Differences in characteristics of religious groups in India: as seen from household survey data　　　　　　　　　　　　　　　
  Aruga, K
  CEPE Working paper series, Volume：03-26, 2003, [Invited], [Lead, Last, Corresponding]
  English, Research institution

• Environmental and Natural Resource Economics　　　　　　　　　　　　　　　
  Environmental and Natural Resource Economics, [Single work]
  Feb. 2022
• Environmental Economics　　　　　　　　　　　　　　　
  Kentaka Aruga, [Single work]
  May 2021
• Consumer Reaction, Food Production and the Fukushima Disaster　　　　　　　　　　　　　　　
  Kentaka Aruga, [Single work]
  Jul. 2017
• 原発事故と風評被害－食品の放射能汚染に対する消費者意識　　　　　　　　　　　　　　　
  有賀 健高, [Single work]
  Oct. 2016
• 農林水産の経済学　　　　　　　　　　　　　　　
  有賀 健高, [Joint work]
  2015
• エネルギー経済学　　　　　　　　　　　　　　　
  有賀 健高, [Joint work]
  2014
• The Economics of Biodiversity and Ecosystem Services　　　　　　　　　　　　　　　
  Kentaka Aruga, [Joint work]
  Routledge, 2012
• 環境と資源の経済学　　　　　　　　　　　　　　　
  有賀 健高, [Joint work]
  2012
• 世界地図で読む環境破壊と再生　　　　　　　　　　　　　　　
  有賀 健高, [Joint work]
  2004

• 個人投資家の環境意識が環境債への投資意欲に及ぼす影響：グリーンボンド・ブルーボンド・サステナビリティボンドの比較研究　　　　　　　　　　　　　　　
  有賀健高
  Dec. 2024
  Japanese, Oral presentation
• Disaggregated Impact of Non-Renewable Energy Consumption on the Environmental Sustainability of the United States: A Novel Dynamic ARDL Approach　　　　　　　　　　　　　　　
  Tanmoy Kumar Ghose; Md Rezanual Islam; Kentaka Aruga; Arifa Janna; Md. Monirul Islam
  The 3rd International Conference on Japan-Bangladesh Research and Practice, Nov. 2024
  English, Oral presentation
• Revealing the Pathway of Reluctancy Toward Agricultural Credit Repayment: A Case Study on Fish Farmers in Bangladesh　　　　　　　　　　　　　　　
  Dewan Abdullah Al Rafi; Sanzida Taurin; Kentaka Aruga; Arifa Janna; Md. Monirul Islam
  The 3rd International Conference on Japan-Bangladesh Research and Practice, Nov. 2024
  English, Oral presentation
• Comparing Factors Affecting Chinese Institutional Investors’ Willingness to Pay for Green Bonds in Beijing, Shanghai, and Shenzhen　　　　　　　　　　　　　　　
  善野義博; 有賀健高
  Sep. 2024
  Oral presentation
• Comparing the willingness to invest returns among green, sustainability, and blue bonds　　　　　　　　　　　　　　　
  Aruga, K.
  Sep. 2024
  English, Oral presentation
• Assessing the CO2 emissions and energy source consumption nexus in Japan　　　　　　　　　　　　　　　
  Aruga, K.
  IAEE 45th International Conferefence, Jun. 2024
  English, Oral presentation
• Investigating Factors Affecting Institutional Investors’ Green Bond Investments: Cases for Beijing and Shenzhen　　　　　　　　　　　　　　　
  善野吉博; 有賀健高
  May 2024
  Japanese, Oral presentation
• グリーンボンドへの投資に与える要素の把握研究：日本の事例から　　　　　　　　　　　　　　　
  有賀健高
  Oct. 2023
  Oral presentation
• 機関投資家のグリーン・ボンド投資判断基準～中国北京・深圳の事例　　　　　　　　　　　　　　　
  善野吉博; 有賀健高
  Oct. 2023
  Oral presentation
• The impacts of COVID-19 on seafood prices in Japan: a comparison between cheap and luxury products　　　　　　　　　　　　　　　
  Aruga, K
  The 12th Congress of Asian Association of Environmental and Resource Economics, Aug. 2023
  English, Oral presentation
• グリーンボンドに対する日本と中国の投資家の意識調査研究　　　　　　　　　　　　　　　
  有賀健高; 善野義博
  Aug. 2023
  Aug. 2023 - Aug. 2023, Japanese, Poster presentation
• Effects of fossil fuel prices on the Japanese electricity market during crises　　　　　　　　　　　　　　　
  Aruga, K
  18th IAEE European Conference, Jul. 2023
  English, Oral presentation
• 機関投資家のグリーン・ボンドへの支払意思額〜中国上海の事例　　　　　　　　　　　　　　　
  善野 吉博; 有賀 健高
  Oct. 2022
  Oral presentation
• Estimating the retail investor’s willingness to pay for green bonds　　　　　　　　　　　　　　　
  有賀健高
  Oct. 2022
  English, Oral presentation
• Are Retail Investors Willing to Buy Green Bonds? A Case of Japan　　　　　　　　　　　　　　　
  Aruga, K
  43rd IAEE International Conference, Aug. 2022
  English, Oral presentation
• Dynamic Correlation and Volatility Spillover Among Green Bonds, Clean Energy Stock, and Fossil Fuel Market　　　　　　　　　　　　　　　
  Tang, C; Aruga, K
  43rd IAEE International Conference, Aug. 2022
  English, Oral presentation
• Effects of COVID-19 on Indian Energy Consumption　　　　　　　　　　　　　　　
  Aruga, K; Islam; Md. Monirul; Jannat, A
  43rd IAEE International Conference, Aug. 2022
  English, Oral presentation
• Effects of the COVID-19 Pandemic on the Tokyo Wholesale Tuna Market　　　　　　　　　　　　　　　
  Aruga, K
  27th Annual Conference of the European Association of Environmental and Resource Economists, Jul. 2022
• Are retail investors willing to buy green bonds? A case for Japan　　　　　　　　　　　　　　　
  Aruga, K
  Pre-conference Workshop of the 27th Annual EAERE Conference: Green Bonds and Environmental Finance, Jun. 2022
  English, Oral presentation
• Radiation knowledge and willingness to buy bottled water from regions near the Fukushima Daiichi Nuclear Power Plant　　　　　　　　　　　　　　　
  Aruga, K
  7th International Conference on Water Resource and Environment, Nov. 2021, [Invited]
  English, Oral presentation
• Investigating the effects of altruism on consumer preference for food from disaster-affected regions: a case of Japan　　　　　　　　　　　　　　　
  有賀健高; Bolt, Timothy
  Sep. 2021
  Japanese, Oral presentation
• 世界金融危機と新型コロナ危機が中国と国際化石燃料の価格関係に与えた影響　　　　　　　　　　　　　　　
  唐朝豊; 有賀健高
  Sep. 2021
  Japanese, Oral presentation
• Energy Policy Trade-Offs in Poland: A Best-Worst Scaling Discrete Choice Experiment　　　　　　　　　　　　　　　
  Aruga, K
  26th Annual Conference of the European Association of Environmental and Resource Economists, Jun. 2021
  Jun. 2021 - Jun. 2021, English, Oral presentation
• Energy prices and COVID-immunity: the case of crude oil and natural gas prices in the US and Japan　　　　　　　　　　　　　　　
  Honorata Nyga-Łukaszewska; Kentaka Aruga
  The 1st IAEE Online conference, Jun. 2021
  Jun. 2021 - Jun. 2021, English, Oral presentation
• Energy security of Poland and coal supply: price analysis　　　　　　　　　　　　　　　
  Kentaka Aruga; Honorata Nyga-Łukaszewska
  The 1st IAEE Online conference, Jun. 2021
  Jun. 2021 - Jun. 2021, English, Oral presentation
• クラウドファンディング型地域循環共生圏支援策　　　　　　　　　　　　　　　
  有賀健高
  Dec. 2020
  Japanese
• 消費を通じた被災地支援行動は消費者の利他的意識と関係しているのか　　　　　　　　　　　　　　　
  有賀健高
  Sep. 2020
  Japanese
• A Study on the Pass-Through Rate of the Exchange Rate on the LNG Import Price in China　　　　　　　　　　　　　　　
  唐朝豊; 有賀健高
  Sep. 2020
  Japanese
• 被災地復興支援の消費行動と利他的意識に関する研究　　　　　　　　　　　　　　　
  有賀健高
  Nov. 2019, [Invited]
  Japanese
• Consumer Behavior to Support the Disaster Region and Altruistic Perception　　　　　　　　　　　　　　　
  Aruga, K
  Sep. 2019
  Sep. 2019, English, Oral presentation
• Analyzing the condition of Japanese electricity cost linkages by fossil fuel sources after the Fukushima disaster　　　　　　　　　　　　　　　
  Aruga, K
  42nd IAEE International Conference, May 2019
  English, Oral presentation
• 福島原発近辺の水産物に関する消費者意識についての研究　　　　　　　　　　　　　　　
  有賀 健高
  Sep. 2018, [Domestic conference]
  Japanese, Oral presentation
• 農林水産物の放射能汚染と消費者意識 －風評被害はあったのか？－　　　　　　　　　　　　　　　
  有賀 健高
  Jul. 2018, [Invited]
  Japanese
• Radiation Knowledge and Willingness to Buy Mineral Water of Regions near the Fukushima Daiichi Nuclear Power Plant　　　　　　　　　　　　　　　
  Kentaka Aruga
  41st International IAEE conference, Jun. 2018, [International conference]
  English, Oral presentation
• Are the Japanese regional seafood markets integrated?　　　　　　　　　　　　　　　
  Kentaka Aruga
  International Symposium: Fisheris Science for Future Generations, Sep. 2017, [International conference]
  English, Oral presentation
• The situation of rumor damage on seafood markets of regions near the Fukushima Daiichi nuclear power plant (FDNPP) after the Fukushima disaster　　　　　　　　　　　　　　　
  Kentaka Aruga
  International Symposium: Fisheris Science for Future Generations, Sep. 2017, [International conference]
  English, Oral presentation
• Does the energy-environmental Kuznets curve hypothesis sustain in the Asia-Pacific region?　　　　　　　　　　　　　　　
  Kentaka Aruga
  The 40th IAEE International Conference, Jun. 2017, [International conference]
  English, Oral presentation
• Consumer responses to agricultural products near the Fukushima nuclear plant　　　　　　　　　　　　　　　
  Kentaka Aruga
  European Association of Environmental and Resource Economists 22nd Annual Conference, Jun. 2016, [International conference]
  English, Oral presentation
• Did the Financial Crisis of 2008 Affect the Price Linkages Among the Crude Oil and Precious Metal Markets?　　　　　　　　　　　　　　　
  Kentaka Aruga
  39th IAEE International Conference, Jun. 2016, [International conference]
  English, Oral presentation
• Consumer responses to food products produced near the Fukushima nuclear plant　　　　　　　　　　　　　　　
  Kentaka Aruga
  The 60th Annual Conference Australian Agricultural and Resource Economics Society,, Feb. 2016, [International conference]
  English, Oral presentation
• 福島原子力発電所近辺で生産された農産物に対する消費者の反応　　　　　　　　　　　　　　　
  Kentaka Aruga
  環境経済・政策学会2015年大会、京都, Sep. 2015, [Domestic conference]
  Japanese, Oral presentation
• Consumer responses to food products produced near the Fukushima nuclear plant　　　　　　　　　　　　　　　
  Kentaka Aruga
  38th International Association for Energy Economics International Conference, Jun. 2015, [International conference]
  English, Oral presentation
• Testing the international crude oil market integration with structural breaks　　　　　　　　　　　　　　　
  Kentaka Aruga
  14th International Association for Energy Economics European Energy Conference, Oct. 2014, [International conference]
  English, Oral presentation
• 環境意識の高い消費者は福島原子力発電所近辺の食品購入に積極的なのか－消費者アンケート調査からの検証　　　　　　　　　　　　　　　
  Kentaka Aruga
  Sep. 2014, [Domestic conference]
  Japanese
• Testing market integration for Japanese retail fish markets　　　　　　　　　　　　　　　
  Kentaka Aruga
  EconWorld2014, Jun. 2014, [International conference]
  English, Oral presentation
• 日本の水産市場の地域統合に関する研究　　　　　　　　　　　　　　　
  有賀 健高
  Sep. 2013, [Domestic conference]
  Japanese, Oral presentation
• The U.S. Shale Gas Revolution and Its Effect on International Gas Markets　　　　　　　　　　　　　　　
  Kentaka Aruga
  36th International Association for Energy Economics International Conference, Jun. 2013, [International conference]
  English, Oral presentation
• The impact of the shale gas revolution on the U.S. and Japanese natural gas markets　　　　　　　　　　　　　　　
  Kentaka Aruga
  2013 Northeastern Agricultural and Resource Economics Association Annual Meeting, Jun. 2013, [International conference]
  English, Oral presentation
• 日本の平成１７年度自動車排ガス規制の日米のパラジウム国際市場への影響　　　　　　　　　　　　　　　
  有賀 健高
  Sep. 2012, [Domestic conference]
  Japanese, Oral presentation
• Is the ethanol market independent from the existing motor fuel and oil crop markets?　　　　　　　　　　　　　　　
  Kentaka Aruga
  35th International Association for Energy Economics International Conference, Jun. 2012, [International conference]
  English, Oral presentation
• Linkages among the non-genetically modified organism soybean and conventional soybean, and corn futures markets in the Tokyo Grain Exchange　　　　　　　　　　　　　　　
  Kentaka Aruga
  18th Annual Conference of the European Association of Environmental and Resource Economists, Jun. 2011, [International conference]
  English, Oral presentation
• Linkage among the U.S. energy futures markets　　　　　　　　　　　　　　　
  Kentaka Aruga
  34th International Association for Energy Economics International Conference,, Jun. 2011, [International conference]
  English, Oral presentation

• Apr. 2021 - Present
  Environmental Economics, Saitama University

• SOCIETY FOR ENVIRONMENTAL ECONOMICS AND POLICY STUDIES
• International Association for Energy Economics

• サステナブルファイナンスの拡大とインパクトに関する研究：気候変動と生物多様性に焦点をあ てて　　　　　　　　　　　　　　　
  Apr. 2024 - Mar. 2027
  Coinvestigator
  Grant number：2MF-2402
• Effects of Altruism on Purchase Behavior for Green Bond　　　　　　　　　　　　　　　
  Japan Society for the Promotion of Science, Grants-in-Aid for Scientific Research, Grant-in-Aid for Scientific Research (B), 01 Apr. 2022 - 31 Mar. 2026
  Saitama University
  Grant amount(Total)：17030000, Direct funding：13100000, Indirect funding：3930000
  Grant number：22H03808
  論文ID：49546951
• Multiple values of ecosystem services and fishery products　　　　　　　　　　　　　　　
  Japan Society for the Promotion of Science, Grants-in-Aid for Scientific Research, Grant-in-Aid for Scientific Research (A), 05 Apr. 2021 - 31 Mar. 2026
  The University of Tokyo
  Grant amount(Total)：41600000, Direct funding：32000000, Indirect funding：9600000
  Grant number：21H04738
• Investigating the affects of altruistic perceptions on the consumers' willingness to support the disaster region: a case study from the Great East Japan Earthquake　　　　　　　　　　　　　　　
  Japan Society for the Promotion of Science, Grants-in-Aid for Scientific Research, Grant-in-Aid for Early-Career Scientists, 01 Apr. 2018 - 31 Mar. 2022
  Kentaka Aruga, Saitama University
  Grant amount(Total)：4290000, Direct funding：3300000, Indirect funding：990000
  First, the results of the analyses for survey data obtained from the choice experiment indicated that people with higher altruism levels tended to be more willing to buy products from the disaster-affected region whose sales are partially donated to this region. Second, the study also finds that older and educated consumers were more reluctant to buy such products, while male and higher-income consumers were more positive about supporting the disaster regions through consumption. Third, the study examined whether the consumers’ social ties to the disaster-affected region influence the supporting behavior by comparing the consumers’ preference toward a Japanese product and a foreign one. The results revealed that even if the tie is a cultural one such as being a fan of music and drama of the foreign region, social tie can play an important role to foster consumers' support to donate to the disaster-affected region.
  Grant number：18K12763
• A study about consumer behavior toward food contaminated with radioactive material after the Fukushima incident　　　　　　　　　　　　　　　
  Japan Society for the Promotion of Science, Grants-in-Aid for Scientific Research, Grant-in-Aid for Young Scientists (A), 01 Apr. 2013 - 31 Mar. 2016
  ARUGA Kentaka, Ishikawa Prefectural University
  Grant amount(Total)：5980000, Direct funding：4600000, Indirect funding：1380000
  A survey for ten food products, including agricultural products with high production volume in Fukushima prefecture and water, is performed to understand the situation of the reputation damage after the Fukushima Daiichi nuclear disaster. Nearly 8700 people from all parts of Japan responded to the survey. Through the study, I found that consumers that lack knowledge in radiation and live far away from the plant that are not familiar with products produced near the Fukushima nuclear plant are more likely to avoid products produced near the plant. It is believable that such consumers are likely affected by false reputation about the safety of food products produced near the plant. On the other hand, I also found that some avoidance behavior toward food produced near the plant is not attributed to false reputation. Some consumers avoid food produced near the plant because they are aware of the danger of radiation contamination and believe that actual risk persists in such products.
  Grant number：25712025

• 環境経済・政策学会 2023 年大会 企業と環境（１）　　　　　　　　　　　　　　　
  Panel chair etc
  30 Sep. 2023 - 01 Oct. 2023
  Academic society etc
• 43rd IAEE International Conference　　　　　　　　　　　　　　　
  Panel chair etc
  31 Jul. 2023 - 03 Aug. 2023
  Academic society etc
• 27th Annual Conference of the European Association of Environmental and Resource Economics　　　　　　　　　　　　　　　
  Panel chair etc
  European Associaion of Environmental and Resource Economics, 28 Jun. 2022 - 01 Jul. 2022
  Academic society etc
• Workshop on "Green Bonds and Environmental Finance"　　　　　　　　　　　　　　　
  Panel chair etc
  International Centre for Economic Analysis, 27 Jun. 2022
  Academic society etc
• 22nd Annual Conference of Environmental and Resource Economics　　　　　　　　　　　　　　　
  Panel chair etc
  European Associaion of Environmental and Resource Economics, 22 Jun. 2016 - 25 Jun. 2016
  Academic society etc

• Scientific Reports　　　　　　　　　　　　　　　
  editor
  Springer Nature, Feb. 2024 - Present
• ISFJ2024 政策フォーラム 環境・エネルギー①分科会　　　　　　　　　　　　　　　
  commentator
  Nov. 2024
• サステイナブル・ファイナンス実務⑤グリーンボンドと投資家判断　　　　　　　　　　　　　　　
  lecturer
  10 Jul. 2024
• 現代的問題（食品ロス問題）　　　　　　　　　　　　　　　
  lecturer
  21 Jun. 2024
• ＥＳＧに異を唱える　　　　　　　　　　　　　　　
  contribution
  12 Apr. 2024
• ISFJ2023 政策フォーラム 環境・エネルギー分科会 中間報告会　　　　　　　　　　　　　　　
  commentator
  Sep. 2023
• Frontiers in Sustainable Cities　　　　　　　　　　　　　　　
  chief
  Dec. 2021 - Dec. 2022
• CEMS Global Citizenship Seminar: The situation of the Japanese energy policies related to SDG 7　　　　　　　　　　　　　　　
  lecturer
  SGH Warsaw School of Economics, 19 Feb. 2022
• 自治体のためのSDGｓプログラム 第2回「環境と経済」　　　　　　　　　　　　　　　
  lecturer
  2021
• 環境問題と経済学　　　　　　　　　　　　　　　
  lecturer
  2019
• 原発事故とエネ転換　　　　　　　　　　　　　　　
  contribution
  09 Nov. 2018