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dc.contributor.authorKoehn, Juliaen_US
dc.description.abstractIt is shown that early research in modern financial economics had substantially been driven by the application of the research strategy of economics and the use of newly developed mathematical methods. For this purpose the professionalization of business education as a consequence of changes in the U.S. economy after Word War II is presented. The emergence of professional Journals in financial economics, similar to the academic culture including the trend of applying abstract mathematical reasoning and during the war developed methods like linear programming are highlighted. Also the meaning of Milton Friedman's 1953 essay The Methodology of Positive Economics for the dominance of abstract and prediction driven research in modern financial economics gets discussed. Finally, the emergence of Harry Markowitz's paper Portfolio Selection (1952) is used to substantiate the hypothesis.en_US
dc.publisher|aUniv. Witten, Herdecke, Wirtschaftswiss. Fak. |cWittenen_US
dc.relation.ispartofseries|aDiskussionspapiere // Wirtschaftwissenschaftliche Fakultät, Universität Witten, Herdecke |x16/2011en_US
dc.subject.keywordhistory of financeen_US
dc.subject.keywordportfolio theoryen_US
dc.subject.keywordbusiness schoolsen_US
dc.subject.keywordmodern financial economicsen_US
dc.subject.keywordtheories of modern financial economicsen_US
dc.subject.keywordrisk managementen_US
dc.subject.keywordmethodology of financeen_US
dc.titleFrom tools to theories: The emergence of modern financial economicsen_US
dc.typeWorking Paperen_US

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