Academic Finance: Responsible Enquiry or Stamp Collecting?

19 Pages Posted: 2 Feb 2016

Date Written: January 31, 2016


The underlying assumptions and ethos of markets and market behavior as encapsulated and advanced by academic output serve to influence how financial markets are perceived and therefore manipulated by regulatory and supervision authorities. Thus, as well as sustaining individual academic careers and contributing to the prestige of academic institutions, academic finance, for better or for worse, continues to influence financial practice. This paper explores how academic thinking has helped shape how markets are perceived and thereby acted upon in practice.

Keywords: corporate finance, behavoral finance, critical theory

JEL Classification: G20, G39

Suggested Citation

Dempsey, Michael J., Academic Finance: Responsible Enquiry or Stamp Collecting? (January 31, 2016). Available at SSRN: or

Michael J. Dempsey (Contact Author)

Ton Duc Thang University (TDTU) ( email )

District 7
Ho Chi Minh City, 3001

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