On the Role of Paradigms in Finance: 1st Edition (Hardback) book cover

On the Role of Paradigms in Finance

1st Edition

By Kavous Ardalan


190 pages

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Hardback: 9780754645245
pub: 2008-08-07
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eBook (VitalSource) : 9781315598871
pub: 2016-05-13
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Social theory can usefully be conceived in terms of four key paradigms: functionalist, interpretive, radical humanist and radical structuralist. The four paradigms are founded upon different assumptions about the nature of society and each generates distinctive theories, concepts and analytical tools. Finance theory is based on the functionalist paradigm and for the most part finance theorists are unaware of the philosophical tradition to which they belong. By relating finance to the four paradigms, Ardalan's work offers a concise understanding of the multifaceted nature of finance. He recommends theorists adopt a diversity of paradigms and discusses its benefits by application to the following phenomena: the development of academic finance, the mathematical language of academic finance, the mathematics of academic finance, money, corporate governance, markets, technology and education.


'On the Role of Paradigms in Finance advances a new and comprehensive view of the research process in finance. This effort is essential reading for all students of financial economics.' Bob G. Wood, Tennessee Technological University, USA 'In general, I believe that this is a useful book for graduate students in finance and in economics. I also think that this is particularly useful for those finance specialists who are convinced that philosophy of science and methodology have nothing to do with their subject.' South Eastern Europe Journal of Economics

About the Author

Kavous Ardalan is Professor of Finance at the School of Management, Marist College, USA.

About the Series

Alternative Voices in Contemporary Economics

Alternative Voices in Contemporary Economics
The Alternative Voices in Contemporary Economics series provides an important platform for new and innovative approaches to economic analysis within the following traditions: Post-Keynesian, Feminist, Institutional, Marxian, Sraffian, Radical, Austrian, and Behavioural. This series offers researchers working in these heterodox traditions the opportunity to address methodological, theoretical or empirical issues. The series editor works closely with authors and editors to ensure the quality of all published works.

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Subject Categories

BISAC Subject Codes/Headings:
BUSINESS & ECONOMICS / Economics / General