Financial theory and modeling

Théorie et modélisation financières

Gerard Hirigoyen
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Gerard Hirigoyen: IRGO - Institut de Recherche en Gestion des Organisations - UB - Université de Bordeaux - Institut d'Administration des Entreprises (IAE) - Bordeaux

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Abstract: The 2008 financial crisis which affected all stock markets and the accounting and financial scandals which accompanied it called into question the model of governance of the companies concerned and through it, the devices of control and regulation of capitalism contemporary and led to take a critical look of these financial models unable to solve the problems encountered. More generally, the criticisms where addressed to classical financial theory as a whole and led to undermine its two essential paradigmatic pillars, namely the normal return hypothesis on financial assets and the market efficiency hypothesis and its corollary the rationality of the actors. They also called into question the vision of the world underlying the development of this financial modeling.

Keywords: Finance; financial modeling; financial theory; financial crisis; modélisation financière; théorie financière; crise financière (search for similar items in EconPapers)
Date: 2020-11-04
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Published in Entreprise & société, 2020, Entreprise & Société 2019 – 2, n° 6, 2019 – 2 (n° 6), pp.33-71. ⟨10.15122/isbn.978-2-406-10785-9.p.0033⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-02989649

DOI: 10.15122/isbn.978-2-406-10785-9.p.0033

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