文章基本信息

标题：Statement by the Editors
本地全文：下载
作者：Victor Dragota ; Bogdan Negrea
期刊名称：Review of Finance and Banking
印刷版ISSN：2067-2713
电子版ISSN：2067-3825
出版年度：2009
卷号：1
期号：1
出版社：Bucharest Academy of Economic Studies
摘要：At the moment of launching this first issue of The Review of Finance and Banking, the financial crisis, that reached the level of economic crisis, is a known fact. What is not yet known (or even acknowledged) is the causal factor that generated the present crisis. Perhaps there is no single causal factor, but a series of factors, most probably interconnected. Among these factors, maybe it is worth analyzing one: the crisis of values. For many decades, Finances have recognized certain behaviors that take us farther from Adam Smith’s assertions in his Wealth of Nations. Nowadays, the agency problems or the asymmetry of information are already classic topics, although many times signalling is taken for premises of the discrimination. On another hand, this crisis maintains in fact as possible generating factors the absence or the incapacity of monitoring information; the defective transfer or even the incapacity of interpreting the information. Well-recognized studies have been supporting these ideas for decades. Akerlof, Spence and Stiglitz are winners of Noble award in Economics even since 2001. While infatuated practitioners are emphasizing the gap between theory and practice, Financial science offer us answers towards what we should do so that we might not reach this point. To discuss about what we should do is useless unless we realize that if we do not know our past, we do not deserve our future. Moreover, as Schopenhauer said: .A major hostile barrier to humanity progress comes from the fact that people do not listen to those who speak wise, but those who shout louder.” We