CARF:Center for Advanced Research in Finance

The Center for Advanced Research in Finance (CARF) was established at the University of Tokyo in April 2005 and aims to become an international hub of financial research and education in Asia. Along with the Graduate Program in Finance established in April 2005 and the Undergraduate Program in Finance that started in 2007, we will pursue world-class financial research and education in order to develop financial researchers and leaders for the 21st century.

CARF has received approval from the Ministry of Education, Culture, Sports, Science and Technology (MEXT) as an institution of academic and industry partnership. The Center is funded by the Japanese government and also receives financial support from a wide range of business and financial partners.

In order to fulfill its mission to become Asia's leading center for financial research, CARF will:

1.		Pursue leading edge research on financial theory by inviting the world's foremost researchers.
2.		Build a financial data center rich in both quantity and quality. In particular, we will pursue experimental studies related to finance and capital markets in Asia.
3.		Analyze the successes, failures and evidence of Japan's financial system from all angles in order to support balanced development of the Asian economy. We will propose financial system designs and policies to promote sound economic development.
4.		Develop financial researchers and leaders for the 21st century by conducting research utilizing industrial and financial partnerships, as well as developing innovative techniques for fund management, financing and risk management.