It is shown that logical contradictions are derivable from natural translations into first order logic of the description and background assumptions of the Soros Game, and of other games and social contexts that exhibit conflict and reflexivity. The logical structure of these contexts is...

We describe a unifying theoretical framework for stakeholder analysis, establishing a rigorous mathematical formulation that can be used to frame both qualitative and quantitative research. Stakeholders are modeled as interactive practices; legitimacy arises through a projection mechanism. Five...

Modern Finance has dominated the area of financial economics for at least four decades. Based on a set of strong but highly unrealistic assumptions its advocates have produced a range of very influential theories and models. Nonetheless, in the last two decades a new academic school of thought...

The risk associated with lending to small businesses has become more important since regulations started obliging banks to use separate procedures in assessing SMEs' credit worthiness. However, current accounting-based models for SMEs do not account for the impact of market information on...

This paper introduces an innovative framework for decision making by individuals with inconsistent preferences. Practices, associations of individuals with a preference set shared by its members, provide context and unify preferences across an economy so that decision-makers are situated in...

Previous studies on the overreaction effect in the UK show that prior losers consistently outperform prior winners in the period 1975 to 1990. This paper extends current knowledge by assessing the above phenomenon in the UK market for the period 1987 to 2007. In contrast to earlier research, we...

This study extends UK research on rights issues by examining the link between the post-issue long-term underperformance, pre-SEO security overvaluation and post-SEO investors' under-reaction hypotheses. In contrast to prior UK studies that concentrated on different time-periods, and with results...