The Scientific Value of Finance After the Crisis

42 Pages Posted: 17 Apr 2020 Last revised: 6 Aug 2020

See all articles by Jerry T. Parwada

Jerry T. Parwada

UNSW Business School; Financial Research Network (FIRN)

Date Written: March 7, 2020


Understanding how users of research cope with episodes that potentially diminish trust in accepted knowledge such as the 2007-2009 financial crisis is important for financial economists and practitioners. Utilizing citations in practitioner-oriented journals I investigate post-crisis changes in authors’ knowledge sources and compare the inert behaviors of academics and practitioners towards science. Rather than abandonment of finance research in the practitioner literature, the evidence shows increased interdisciplinarity. Unpublished, non-scholarly sources become markedly less popular.

Keywords: financial crisis, scientific knowledge, paradigm shift, practitioner journals

JEL Classification: A11, G20, O30

Suggested Citation

Parwada, Jerry T., The Scientific Value of Finance After the Crisis (March 7, 2020). UNSW Business School Research Paper Forthcoming, Available at SSRN: or

Jerry T. Parwada (Contact Author)

UNSW Business School ( email )

UNSW Business School
High St
Sydney, NSW 2052

Financial Research Network (FIRN)

Sydney, NSW 2052


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