The explosion of the rational expectations equilibrium models in the finance literature has occurred when the perfect market assumption of homogeneous information is relaxed and prices play the role of aggregating and transmitting information in the financial market. This paper shows that the...

The purpose of this paper is to provide an overview of the paradigmatic context and structure of the current theories and controversies in mainstream academic finance. It identifies the context among paradigms and the structure within the identified paradigm. The paper is based on the view that...

Masulis and Trueman (1988) investigated corporate investment and dividend decisions under differential personal taxation. They assumed investors in different tax brackets, a state-preference complete market (which includes pure securities for each state) with a ban on short-selling. They...

This paper examines the role of the no-arbitrage condition in financial markets with heterogeneous expectations. We consider a single-period, state-contingent claims model, withM risky securities andS states. There exist two types of heterogeneously informed investors, where the information...

Any adequate analysis of economic globalization necessarily requires fundamental understanding of the worldviews underlying the views expressed with respect to the nature and role of economic globalization. This paper is based on the premise that any worldview can be associated with one of the...

<title>Abstract</title> Any adequate analysis of globalization and state necessarily requires fundamental understanding of the worldviews underlying the views expressed with respect to the nature and role of globalization and state. This paper is based on the premise that any worldview can be associated with...

Purpose – The purpose of this paper is to show how different philosophical schools of thought view the relation between globalization and culture differently. Design/methodology/approach – This paper places the existing philosophical schools of thought into four broad categories:...

Purpose – To see how educational philosophies that underlie lecture and case methods of teaching are related to how faculty perform their teaching, research, and service. Design/methodology/approach – This paper is based on the premise that foundational philosophies, worldviews or paradigms...