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The purpose of this paper is to discuss implications of the global crisis for economic and financial research and policy.

The paper reviews many recent studies on the crisis and offers the author's views on some of the most important lessons to be drawn from the crisis

The review counters views that the crisis reflected a basic failure of economics, but agrees that it undercuts some particular theories and approaches to economics. More attention needs to be given to imperfections in the operation of both markets and governments, drawing on insights from behavioral and neuro economics and finance and political economy analysis and recognizing the importance of limited information and uncertainty about correct models. The creation of perverse incentive structures explain a large part of the financial excesses that led to the crisis. Financial considerations need to be integrated much more closely with macroeconomic analysis and financial risk analysis needs to pay more attention to economic considerations. Useful insights can be drawn from many different theories and approaches and we should not expect any one theory to have all the answers. The excesses observed in the advanced economies do not imply that there are not enormous benefits to be gained from further financial liberalization in emerging market economies, but they do show that great care must be taken in establishing strong supervision of such liberalizations and highlight many of the dangers to look out for.

The paper offers a guide to the literature for those interested in learning more about the causes and effects of the crisis and policy responses and offers a number of suggestions for fruitful research topics and policy strategies.

This study aims to argue that in the case of quantitative security risk assessment, individuals do not estimate probabilities as a likelihood measure of event occurrence.

The study uses the most commonly used quantitative assessment approach, the annualized loss expectancy (ALE), to support the three research hypotheses.

The estimated probabilities used in quantitative models are subjective.

The ALE model used in security risk assessment, although it is presented in the literature as quantitative, is, in fact, qualitative being influenced by bias.

The study provides a factual basis showing that quantitative assessment is neither realistic nor practical to the real world.

A model that cannot be tested experimentally is not a scientific model. In fact, the probability used in ISRM is an empirical probability or estimator of a probability because it estimates probabilities from experience and observation.

The purpose of this paper is to look behind the veil of the concept of Gross National Happiness (GNH), which has been initiated by the fourth King of Bhutan as an alternative to the traditional development concept of gross national product, by analyzing it as an expression of a particular view of leadership originated in the philosophical tradition of Mahayana Buddhism and exploring its relevance for leadership of sustainable development and sustainable (business) organizations.

Review of literature on GNH in a historical and current context, linking it to trends and concepts in sustainability and leadership. Complemented by author’s observations on regular visits to Bhutan since 2003.

The GNH leadership view consists of a set of principles: first, interrelatedness of economy, society and eco-systems; second, the economy, society and eco-systems can flourish if their needs are served; third, governance is the agent for serving these needs by the creation of societal happiness; and fourth, societal happiness should include the enhancement of subjective happiness and well-being of people. By tracing these principles to the philosophy of Mahayana Buddhism, especially the Bodhisattva ideal, and comparing them to the principles driving sustainability, the paper argues that GNH leadership signifies an innovation in leadership for sustainability.

This paper examines how GNH leadership can be applied to organizational and business sustainability, and how it contributes to the emerging theory and practice of sustainability leadership.

The social relevance of the paper lies in the examination of how GNH leadership can be applied to organizational and business sustainability, and how it contributes to the emerging theory and practice of sustainability leadership.

The paper concludes that GNH leadership – as it corresponds to the principles driving sustainability – represents a new model for sustainability leadership.

This study aims to critically review recent contributions to the methodology of financial economics and discuss how they relate to one another and directions for further research.

A critical review of recent literature on new methodologies for financial economics.

Recent books have made important contributions to the study of financial economics. They suggest new approaches that include an emphasis on radical uncertainty, adaptive markets, agent-based modeling and narrative economics, as well as extensions of behavioral finance to include concepts such as diagnostic expectations. Many of these contributions can be seen more as complements than substitutes and provide fruitful directions for further research. Efficient markets can be seen as holding under particular circumstances. A major them of most of these contributions is that the study of financial crises and other aspects of financial economics requires the use of multiple theories and approaches. No one approach will be sufficient.

There are great opportunities for further research in financial economics making use of these new approaches.

These recent contributions can be quite useful for improved analysis by researchers, private participants in the financial sector and macroeconomic and regulatory officials.

Provides an introduction to these new approaches and highlights fruitful areas for their extensions and applications.

Neuroeconomics and neurofinance are emerging as intriguing fields of research, despite sharing ambiguity with the concepts of neuroscience. The relationship among the concepts of economics, finance and neuroscience is not explicitly defined in the past literature, which distorts the use of neuroeconomics and neurofinance approaches in real-world practice for financial decision-making. The purpose of this paper is to consolidate the literature in the field of neuroeconomics and neurofinance to set up the research agenda for the upcoming scholarship in the field.

The purpose of this paper is to consolidates the extant literature in the fields of neuroeconomics and neurofinance by conducting an extensive systematic literature review to investigate the current state and define the relationship between economics, finance and neuroscience.

This paper identifies and explains the explicit relationship between different sub-fields of neuroscience with neuroeconomics and neurofinance and providing instances for future research studies.

The exclusive and extensive literature survey in the form of systematic literature review is undertaken for understanding the fields of neuroeconomics and neurofinance and is the key highlight of this paper. Another, interesting fact lies with matching the literature in neuroeconomics and neurofinance with further sub-fields of neuroscience such as neurophysiology, neuroanatomy, molecular neuroscience and cognitive neuroscience.

This paper presents a comprehensive review of academic research dedicated to the field of Behavioral Strategy. Based on a series of Bibliometric and network analyses, the paper identifies the prominent trend and growth patterns pertaining to the evolution of this important strategic management subfield; it documents which particular journals, articles and authors have most influenced its development, and it maps the intellectual structure and network of authors, publications and countries. Finally, the paper considers the substantive research themes emerging from the analyses reported, in terms of their implications for future work.

The authors undertook a series of Bibliometric and network analyses of 217 relevant articles, published between 1975 and 2020, in journals listed in the Scopus database, using R-studio and VOSviewer. Articles incorporated in the study were selected based on relevant key terms searched from the title, abstract and list of keywords associated with each publication.

The results demonstrate that behavioral strategy has enjoyed robust and sustained growth, with widespread impact across many areas of the heterogeneous business and management field as a whole. Three distinct periods are identified: an infancy stage (prior to 1999); a steady growth stage (1999–2010); and a take-off stage (2011 onwards). The top three journals in terms of content coverage, based on the number of relevant articles published in relation to behavioral strategy, are Strategic Management Journal, Advances in Strategic Management (AiSM) and the Journal of Management, while the top three most influential journals, in terms of citations pertaining to Behavioral Strategy, based on an analysis of citations in the Scopus database, are Strategic Management Journal, Academy of Management Perspectives and Journal of Management Studies. Gerard P. Hodgkinson and Thomas C. Powell are the most prolific authors. The emerging themes based on intellectual structures have been identified as Behavioral Strategy, Behavioral Theory of Firm; Strategic Leadership and Dynamic Capabilities; and Strategic Cognition and Decision Making.

The study contributes to knowledge advancement concerning Behavioral Strategy by opening new possibilities to discover important research areas.

The study is the first of its kind on Behavioral Strategy providing a comprehensive systematic literature review.

The purpose of this paper is to introduce the special issue of Review of Behavioural Finance entitled “Behavioural finance: the role of psychological factors in financial decisions”.

The authors present a brief outline of the origins of behavioural economics; discuss the role that experimental and survey methods play in the study of financial behaviour; summarise the contributions made by the papers in the issue and consider their implications; and assess why research in behavioural finance is important for finance researchers and practitioners.

The primary input to behavioural finance has been from experimental psychology. Methods developed within sociology such as surveys, interviews, participant observation, focus groups have not had the same degree of influence. Typically, these methods are even more expensive than experimental ones and so costs of using them may be one reason for their lack of impact. However, it is also possible that the training of finance academics leads them to prefer methodologies that permit greater control and a clearer causal interpretation.

The paper shows that interdisciplinary research is becoming more widespread and it is likely that greater collaboration between finance and sociology will develop in the future.

This paper aims to, by drawing on two decades of field work on Wall Street, explore the recent evolution in the gendering of Wall Street, as well as the potential effects – including the reproduction of financiers’ power – of that evolution. The 2008 financial crisis was depicted in strikingly gendered terms – with many commentators articulating a divide between masculine, greedy, risk-taking behavior and feminine, conservative, risk-averse approaches for healing the crisis. For a time, academics, journalists and women on Wall Street appeared to be in agreement in identifying women’s feminine styles as uniquely suited to lead – even repair – the economic debacle.

The article is based on historical research, in-depth interviews and fieldwork with the first generation of Wall Street women from the 1970s up until 2013.

In this article, it is argued that the preoccupation in feminine styles of leadership in finance primarily reproduces the power of white global financial elites rather than changes the culture of Wall Street or breaks down existent structures of power and inequality.

The research focuses primarily on the ways American global financial elites maintain power, and does not examine the ways in which the power of other international elites working in finance is reproduced in a similar or different manner.

The findings of the article provide practical implications for understanding the gendering of financial policy making and how that gendering maintains or reproduces the economic system.

The paper provides an understanding of how the gendered rhertoric of the financial crisis maintains not only the economic power of global financial elites in finance but also their social and cultural power.

The paper is based on original, unique, historical ethnographic research on the first generation of women on Wall Street.