There is a question that both business people and academics the world over ask themselves of each other at least once in their respective careers: how can we utilise for our benefit what you do? The businessman or woman will wonder at all the brain power being put to use to study economics, accounting or management disciplines and think there must be something from their work that could be used to improve business practice. Similarly, academics wonder at all that raw data out their in the real world, and how if only they could get their hands on it how their research would be improved. In his learned article ‘On the theory and practice of finance’, US academic Kavous Ardalan claims that, quite simply, there is already a massive transfer of knowledge from one sphere to the other through the use of finance and economic theory by professionals, picked up in the early part of their careers from a variety of sources. Not only this, but Ardalan argues that these theories in effect have ‘become’ reality as they have been adopted in the financial markets of the world.
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