By adopting a political economy perspective to accounting, this paper provides an overall post-implementation assessment of International Financial Reporting Standards (IFRS) adoption relative to the European Union's (EU's) fundamental goal of sustainable development. The paper questions the...

According to behavioral finance theory, investors are not the rational actors that economic theory describes. Rather, they are human beings whose decision-making can be driven by cognitive and emotional factors. Research evidence shows innumerable examples of investors behaving in ways that are...

Whether an accounting entity is the individual, the household, the corporation or the nation, the construction and analysis of financial statements pertinent to that entity allow stakeholders to assess its financial position and performance. We describe a simple method for constructing a balance...

Counterfactual conditionals are cognitive tools that we incessantly use during our lives for judgments, evaluations, decisions. Counterfactuals are used for defining concepts as well; an instance of this is attested by the notions of opportunity cost and excess profit, two all-pervasive notions...

The notion of risk encompasses a wide range of meanings across different disciplines, notably the social sciences and business administration fields. Within academic finance, the focal point of traditional (or standard) finance researchers involves the objective nature of risk. This traditional...

Investor behaviour often deviates from logic and reason, and investors display many behaviour biases that influence their investment decision-making processes. The authors describe some common behavioural biases and suggest how to mitigate them

This is a PDF file of ‘Behavioral Finance Curriculum – What Topics and Teaching Approaches to Utilize in a Course?' slides from a presentation at the Fourth Annual Meeting of the Academy of Behavioral Finance & Economics, September 18-21, 2012, Polytechnic Institute of New York University,...

The current measurement focus in municipal financial report­ing is "revenue minus expenditure" or the inflow and outflow of liquid financial resources on a modified accrual basis. One of the issues raised, in the FASB Discussion Memorandum on a concep­tual framework for reporting by...

This chapter focuses on the attitude of investors toward financial gains and losses and their decisions on wealth allocation, and how these changes are subject to behavioral factors. The focal point is the integration of behavioral elements into the classic portfolio optimization. Individual...

Asset allocation and portfolio diversification decisions have important welfare and policy implications. This chapter reviews studies that examine three key aspects of financial investing: participation in stock markets, portfolio diversification, and trading behavior. Standard finance theory...