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Full-Text Articles in Corporate Finance
The Enlightenment And The Financial Crisis Of 2008: An Intellectual History Of Corporate Finance Theory, James R. Hackney Jr.
The Enlightenment And The Financial Crisis Of 2008: An Intellectual History Of Corporate Finance Theory, James R. Hackney Jr.
James R. Hackney Jr.
This article examines the financial crisis of 2008 and connections to corporate finance theory. The financial products and deregulation that led to the crisis were informed by corporate finance theories. These theories include diversification, the capital asset pricing model, and options theory. The theories have a scientific basis but can get deployed (in the form of financial product presentation or policy justification) in ways that deviate from the scientific articulation. The article provides an intellectual history of mainstream corporate finance theory and argues that it, despite the consequences of its misuse, is a valuable scientific achievement and even arguments for …
Under Cover Of Science: American Legal-Economic Theory And The Quest For Objectivity, James Hackney Jr.
Under Cover Of Science: American Legal-Economic Theory And The Quest For Objectivity, James Hackney Jr.
James R. Hackney Jr.
No abstract provided.