Economics is increasingly adopting the methodological standards and procedures of the naturalsciences. The paper analyzes this ‘naturalistic turn’ from the philosophical perspective onnaturalism, and I discuss the implications for the field of finance. The theory of finance is aninteresting...

Cash flow statements have gained popularity worldwide and are nowmandatory also under German GAAP for listed companies. Based on InternationalAccounting Standard No. 7 we review their analytical value from both ashareholder’s and a creditor’s point of view. Cash flow patterns do vary...