Operationalism in Finance and Economics

Richard S. Bower and John M. Scheidell

Journal of Financial and Quantitative Analysis, 1970, vol. 5, issue 4-5, 469-495

Abstract: Recent literature, as it has been developing in this journal and others, suggests that a significant change has taken place in the field of finance. The “new finance” has broader and deeper analytic and empirical content. Its relevant characteristics are: (1) a weakening of the traditional distinction between security analysis and corporation finance; (2) an increased emphasis upon financial management as an integral part of the overall management function; (3) greater emphasis upon the relevance of economic theory in the analysis of financial relations; and (4) more attention to the measurement and testing of hypotheses.

Date: 1970
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