Accounting

capitalist systems

, 132–133

economic democracy

, 138–140

environmental costs

, 134–135

integrative accounting model

, 135–138

politics

, 132–134

relational ecology

, 134–138

self-managed systems

, 132–133

social externality

, 134–135

Soviet-type systems

, 132–133

sustainability

, 134–138

Accretive policies

, 78

Annual right enactment

, 104–106

Annuities

, 104–106

Appraisal factories

, 119–120

Arbitrage opportunities

, 201–202

Aristotle’s model

, 86–87

Articulation donation

, 169–171

Axiomatic rationality

, 206–207

Bank credit

, 19–21

Behavioural finance

axiomatic rationality

, 206–207

behavioural theory

, 210–211

decision utility

, 208

Dodd-Frank Act

, 212

experienced utility

, 208

fast-and-frugal heuristics (FFH) programme

, 206–207, 209

financial activities

, 213

Financial Conduct Authority (FCA)

, 216–217

foundations of

, 206–209

Glass-Steagall Act

, 212

groupthink

, 215–216

heuristics-and-bias (HB) school

, 206–207

homo economicus

, 207–208

investor irrationality

, 210

new regulations basis

, 216–220

nudge marketing

, 219–220

psychological biases

, 211–216

regulators and politicians, psychological biases

, 214–216

Sarbanes-Oxley Act

, 212

source of calls

, 211–213

US Federal Reserve’s monetary policy

, 210

Behavioural theory

, 210–211

Bourghelle, David

, 197

Building leverage effect

, 35–38

Building value

, 123–127

Business-to-business (BtoB)

, 72–73

Business-to-consumer (BtoC)

, 72–73

Capital asset

, 14–19, 21–22

Capital demand price

, 16–17

Capitalisation valuation method

, 119

Capitalism

, 15–22

Capitalist economy

, 26–27

Capitalist systems

, 132–133

Capital supply price

, 16–17

Central bank

, 65–67

Chicago Mercantile Exchange

, 269

Chicago school

, 201

Civil Code

, 89

Coalition for Environmentally Responsible Economies (CERES)

, 186–187

Collective ignorance

, 126

Commodification drift

, 149–150

Comparison method

, 119

Consumer credit market

, 30–31

Contractual approach

, 186–187

Coronavirus

, 258–259

Corporate finance

, 250–251

Corporate governance

, 14–15, 26–29

Corporate profit rate

, 38–39

Corporate social responsibility (CSR)

, 4, 183–184

Corporate strategy

accretive policies

, 78

activities

, 72–75

business-to-business (BtoB)

, 72–73

business-to-consumer (BtoC)

, 72–73

debt relationship

, 82–83

dilutive effect

, 78

diversification vs. specialisation

, 72–73, 81–82

earnings per share (EPS)

, 79

equity/debt ratio

, 77

equity policies

, 77–81

financing

, 75–81

integration

, 73, 75, 82

monetary policies

, 80

outsourcing

, 73–75

public debate

, 71

refocusing

, 82

share buybacks

, 77–81, 83–84

weight average cost of capital (WACC)

, 76

Credit-default swaps

, 89

Crowdfunding

, 149–150

articulation donation

, 169–171

competition

, 177–178

debt-based crowdfunding

, 168

donation

, 170–171

economic theories

, 171–176

equity crowdfunding

, 168

financial intermediation

, 169–170

financing

, 169–171

Keynesian Approach

, 175–176

market and reciprocity hybridisation

, 176–178

market exchanges

, 172–173

Polanyi’s approach

, 173–175

regulation

, 177–178

rewards

, 168

Debt-based crowdfunding

, 168

Deception

, 67–68

Decision-making process

, 249

Decision utility

, 208

Demand model

, 86

Depression

, 257

Digitalisation

, 188–190

Dilutive effect

, 78

Discounted cash flow (DCF) method

, 119, 122

Dodd-Frank Act

, 212

Donation

, 170–171

Dual embedding

, 257–258

Earnings per share (EPS)

, 79

Ecological finance theory

, 263

Economic anthropology

, 86

Economic democracy

, 138–140

Economics

arbitrage opportunities

, 201–202

Chicago school

, 201

finance

, 199–200

financial markets

, 201–202

gross domestic product (GDP)

, 200

interdisciplinarity

, 202–203

mathematical finance

, 200

pluralism

, 202–203

risk-free assets

, 201–202

social consequences

, 202–203

social science

, 201–202

Economic theories

, 171–176

Efficient-market hypothesis (EMH)

, 146

Embedding

, 257

Emotional regime

, 237

Emotions

collective affects

, 227–230

economics

, 225–226

production of

, 226–227

Environmental costs

, 134–135

Environmental, social and governance (ESG)

, 182, 264

Equity crowdfunding

, 168

Equity/debt ratio

, 77

Equity market confidence

, 17–18

Equity markets at international level

, 40–41

Equity policies

, 77–81

Exchange value

, 108–110

Experienced utility

, 208

Façade

, 125–126

Fast-and-frugal heuristics (FFH) programme

, 206–207, 209

Finance and Sustainability (FAS)

, 259–260

Finance conundrum

commodification drift

, 149–150

crowdfunding

, 149–150

efficient-market hypothesis (EMH)

, 146

finance

, 147–148

Global Reporting Initiative (GRI)

, 149

mainstream theories

, 145–146

pay-for-success (PFS)

, 148

principles of responsible investment (PRI)

, 147

random walk theory

, 146

social change

, 147–148

social impact bonds (SIBs)

, 147–148

sustainable and participatory finance

, 150–151

sustainable development (SD) goals

, 147–149

sustainable finance

, 148–149

value-impregnated beliefs

, 146

Financial asset

, 119

Financial behaviours

, 106–108

Financial bubble

, 232–233

Financial Conduct Authority (FCA)

, 216–217

Financial cycles across national economies

, 33–35

Financial decision-making processes

, 2

Financial instability

bank credit

, 19–21

capital demand price

, 16–17

capitalism

, 15–22

capital supply price

, 16–17

equity market confidence

, 17–18

financialised capitalism

, 33–44

financial securities liquidity requirements

, 18–19

general theory

, 21–22

liquidity

, 19–21

marginal capital efficiency

, 17–18

Minsky’s hypothesis

, 22–25

Financial intermediation

, 169–170

Financialisation

, 3–4

capitalism

, 89

Civil Code

, 89

credit-default swaps

, 89

demand model

, 86

dimensions

, 11

economic anthropology

, 86

gambling exception

, 89

return on capital employed (ROCE)

, 10

return on equity (ROE)

, 10

sharecropping

, 88

shareholders

, 10

speculation, perils

, 89

supply model

, 86

Financialised capitalism

, 25, 29, 33, 44

building leverage effect

, 35–38

corporate profit rate

, 38–39

equity markets at international level

, 40–41

financial cycles across national economies

, 33–35

growth regime of

, 35–39

shareholder value

, 35–38

total shareholder return (TSR)

, 39, 41–42, 44

Financial markets

, 201–202, 230, 234

Financial reality mathematical normalisation

, 246–247

Financial securities liquidity requirements

, 18–19

Financial tranquillity paradox

, 24–25

Financial values

economies

, 96

French legislation

, 96–97

innovations

, 96

institutional architecture

, 97

marketisation

, 96

partisans

, 96–97

triple depreciation line

, 97

valuation techniques

, 97

Fintech

, 188–190

French legislation

, 96–97

Gambling exception

, 89

General theory

, 21–22

Glass-Steagall Act

, 212

Globalisation

, 31

Global Reporting Initiative (GRI)

, 149, 186–187

Gross domestic product (GDP)

, 200

Groupthink

, 215–216

Hard law

, 185

Heterodox approaches

, 2

Heuristics-and-bias (HB) school

, 206–207

Homo economicus

, 207–208

Hypothetico-deductive approach

, 4–5

Indetermination

, 122

Inflation disappearance

, 65

Innovation

, 67–68

Institutional architecture

, 97

Integrated reporting

, 188

Integration

, 73, 75, 82

Integrative accounting model

, 135–138

Interdisciplinarity

, 202–203

International Financial Reporting Standards (IFRS)

, 3–4

Investment financing leverage

, 22–23

Investor irrationality

, 210

Investor side

, 120

Keynesian Approach

, 175–176

Kuhn, T. S.

, 195

Legislative framework, offices instability

, 102–104

Legitimisation of value

, 125–127

Liquidity

, 19–21

Macrofoundations

, 262–263

Managerial approach

, 187–188

Manic denial phase

, 235

Marginal capital efficiency

, 17–18

Market exchanges

, 172–173

Market finance over bank finance

, 29–30

Marketisation

, 96

Market price

, 237

Market rental value

, 122

Market value

, 119

Medium-sized enterprises (SMEs)

, 83

Minsky’s hypothesis

, 22–25

capitalist economy

, 26–27

consumer credit market

, 30–31

financialised capitalism

, 25, 29, 33

financial tranquillity paradox

, 24–25

globalisation

, 31

investment financing leverage

, 22–23

market finance over bank finance

, 29–30

real estate

, 30–31

shareholder governance

, 32–33

shareholder return

, 27–28

share prices

, 27

Modern finance

, 195–196

Modern monetary theory

, 67–68

Monetary policies

, 60, 64, 80

Neo-classical financial theory

, 4–5

Normalisation

, 52–54

Nudge marketing

, 219–220

Observation

, 247–251

Officeholders centrality

, 104, 106, 110

exchange value

, 108–110

financial behaviours

, 106–108

office marketisation

, 106–108

partisans

, 108–110

state venality

, 106–107

value

, 108–110

Office marketisation

, 106–108

Organisation for Economic Co-operation and Development (OECD)

, 186–187

Organismes de Placements Collectif en Immobilier (OPCI)

, 117

Orthodox financial theory

, 2

Outsourcing

, 73–75

Panic phase

, 235–236

Partisans

, 108–110

Passion

common affects

, 230–234

emerging to view phase

, 234

emotional regime

, 237

financial bubble

, 232–233

financial markets

, 230–234

manic denial phase

, 235

market price

, 237

panic phase

, 235–236

price dynamics

, 238

proposed methodology

, 236–238

revulsion and blame phase

, 236

rush to possess phase

, 234–235

Pay-for-success (PFS)

, 148

Periodic regulatory appraisals

, 118

Permanent unconventional monetary regime

, 3

Physico-chemical operations

, 196

Plausible value

, 123–125

Pluralism

, 202–203

PoCfiN manifesto

, 261–263

Polanyi’s approach

, 173–175

Politics

, 132–134

Poor siblings

, 120

Portfolio management

, 251–253

Post-Crisis Finance Manifesto

, 261

Post-Crisis Finance Research Network (PoCfiN)

, 262–263

Price dynamics

, 238

Principles of responsible investment (PRI)

, 147

Professional friendships

, 123

Professional networks

, 123

Proposed methodology

, 236–238

Psychological biases

, 211–216

Quantitative skills

, 127

Random walk theory

, 146

Real estate appraisals

, 30–31, 116–117, 119–121

Real rates

, 60–64

Refocusing

, 82

Relational ecology

, 134–138

Return on capital employed (ROCE)

, 10

Return on equity (ROE)

, 10

Revulsion/blame phase

, 236

Risk-free assets

, 201–202

RNA messenger

, 269

Rozin, Philippe

, 197

Rumours

emotions

, 225–227

judgement

, 225–226

nature of

, 226

Sarbanes-Oxley Act

, 212

Self-managed systems

, 132–133

Self-regulating market

, 257

Share buybacks

, 77–81, 83–84

Sharecropping

, 88

Shareholders

, 10

governance

, 32–33

return

, 27–28

value

, 35–38

Share prices

, 27

Social and political construct

, 251–254

Social change

, 147–148

Social consequences

, 202–203

Social externality

, 134–135

Social impact bonds (SIBs)

, 147–148

Socially responsible investments (SRI)

, 4, 184–185

Social science

, 201–202

corporate finance

, 250–251

decision-making process

, 249

financial reality mathematical normalisation

, 246–247

observation

, 247–251

portfolio management

, 251–253

social and political construct

, 251–254

Social security

, 270

Sociétés Civiles de Placement Immobilier (SCPI)

, 117

Sociétés d' Investissement Immobilier Cotée (SIIC)

, 117

Soft law

, 185–188

Soviet-type systems

, 132–133

State finance struggles

annual right enactment

, 104–106

annuities

, 104–106

legislative framework of offices instability

, 102–104

officeholders centrality

, 104, 106, 110

State venality

, 106–107

Stock markets behaviour

, 54–56

Subprime crisis

, 257–258

Supply model

, 86

Sustainability

, 134–138

Sustainable development (SD)

, 147

Sustainable development goals (SDGs)

, 4

Sustainable Development Solutions Network (SDSN)

, 262

Sustainable finance

Coalition for Environmentally Responsible Economies (CERES)

, 186–187

contractual approach

, 186–187

corporate social responsibility (CSR)

, 183–184

digitalisation

, 188–190

environmental, social and governance (ESG)

, 182

Fintech

, 188–190

Global Reporting Initiative (GRI)

, 186–187

hard law

, 185

integrated reporting

, 188

managerial approach

, 187–188

Organisation for Economic Co-operation and Development (OECD)

, 186–187

socially responsible investments (SRI)

, 184–185

soft law

, 185–188

sustainable performance

, 187–188

United Nations Environment Program (UNEP)

, 186–187

Sustainable performance

, 187–188

SWOT analysis

, 126

Symbolic capital

, 127–128

Total shareholder return (TSR)

, 39, 41–42, 44

Triple depreciation line

, 97

Uncertainty

, 123–127

collective ignorance

, 126

façade

, 125–126

legitimisation of value

, 125–127

plausible value

, 123–125

professional networks

, 123

quantitative skills

, 127

signature

, 127

SWOT analysis

, 126

symbolic capital

, 127–128

Unconventional monetary policies

central bank

, 65–67

deception

, 67–68

inflation disappearance

, 65

innovation

, 67–68

leaders expectations

, 56–64

modern monetary theory

, 67–68

monetary policy

, 60–64

normalisation

, 52–54

real rates

, 60–64

research

, 68–69

stock markets behaviour

, 54–56

US stock exchange behaviour

, 54

Unequal power, clients and appraisers

, 118–122

United Nations Environment Program (UNEP)

, 186–187

US Central bank

, 65–67

US Federal Reserve’s monetary policy

, 210

US stock exchange behaviour

, 54

Valuation

building value

, 123–127

indetermination

, 122

market value

, 119

methodology

, 117

methods

, 119

periodic regulatory appraisals

, 118

real estate appraisals

, 116–117

uncertainty

, 123–127

unequal power, clients and appraisers

, 118–122

valuation methods

, 119

Value

, 108–110

Value-impregnated beliefs

, 146

Very small enterprises (VSEs)

, 83

The Wealth of Nations

, 95

Weight average cost of capital (WACC)

, 76

World War

, 270