کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
1017579 940307 2014 7 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Financial socialism: The role of financial economics in economic disorganization
ترجمه فارسی عنوان
سوسیالیسم مالی: نقش اقتصاد مالی در ناهنجاری اقتصادی
کلمات کلیدی
بحران مالی، اقتصاد مالی، مدرسه اقتصاد اتریشی، اوراق بهادار
موضوعات مرتبط
علوم انسانی و اجتماعی مدیریت، کسب و کار و حسابداری کسب و کار و مدیریت بین المللی
چکیده انگلیسی

A growing body of research shows evidence that financial economics played a significant role in recent financial crises, such as the subprime mortgage crisis, Enron and Long-Term Capital Management. This track record is a wake-up call for managers and investors who employ financial economic models. This paper demonstrates how financial economics decouples market prices from the valuation by customers and resource owners in a systematic way. As an organization principle, financial economics replaces value-driven investment by a theory-driven ruling of anonymous financial markets – a scenario warranting the title “financial socialism”. Implications for customer valuation, financial accounting, and a maxim for the sound application of financial economic models are presented.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Business Research - Volume 67, Issue 1, January 2014, Pages 2686–2692
نویسندگان
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