英语翻译Thereader should be aware that a survey of this nature i

英语翻译
Thereader should be aware that a survey of this nature is likely to suffer fromthe ex-post selection bias that plagues many empirical studies:it willconcentrate on what turned out to be successful and of enduring interest.Thehistorian of science is likely to be as interested in those avenues of endeavorthat were subsequently abandoned or became moribund.It is therefore worthrecalling that in 1970 the term "financial economics" was not yet incommon usage,and the battle between finance as a subfield of management scienceand as a subfield of economics was not yet over.Major research topics at thattime included the use of linear programming to design capital budgets,modelsof cash management based on inventory theory,models for accounts receivablemanagement based on credit scoring,and Markov Chain models of credit losses.All of these topics have since been abandoned by most scholars in finance andnow find only occasional mention in the standard textbooks.Other topics suchas leasing,bond refunding,and the estimation of discount rates for capitalbudgeting,once the focus of considerable research effort,have fallen out offashion,either because the problems are deemed to have been "solved" or to be intractable so that further progress seems impossible or becausethe research paradigms that are of most interest today have little or nothingto say about them.