Financial economics grew up in business schools, not economics departments

Evidence

The academic base of financial economics was not in economics departments; it remained primarily in business schools. This often brought higher salaries,” but it also meant an institutional separation from the wider discipline and a culture that differed from it in some respects. Nevertheless, by the 1990s finance had moved from the margins of economics to become one of the discipline’s central topics. Five of the finance theorists discussed in this book Harry Markowitz, Merton Miller, William Sharpe, Robert C. Merton, and Myron Scholes became Nobel laureates as a result of their work in finance theory, and other economists who won Nobel Prizes for their wider research also contributed to finance theory. — Donald MacKenzie, An Engine, Not a Camera, 35

Categorization

• XREF: Links to the broader sociology-of-finance literature and economic-sociology debates (e.g. Callon, Granovetter) on how disciplinary location shapes theory. — connects to: Modern financial economics took root in business schools rather than economics departments — Donald MacKenzie, An Engine, Not a Camera: How Financial…, 320; Academicization opened finance jobs beyond the Chicago and MIT schools — Donald MacKenzie, An Engine, Not a Camera: How Financial…, 323; Finance was institutionally relegated to business schools and dismissed by academic economists as unscientific — Donald MacKenzie, An Engine, Not a Camera: How Financial…, 319 (+2 more)

Broader Connections

• Modern financial economics took root in business schools rather than economics departments #corroborates (1.00) — Donald MacKenzie, An Engine, Not a Camera, 320
• Finance was institutionally relegated to business schools and dismissed by academic economists as unscientific #corroborates (0.80) — Donald MacKenzie, An Engine, Not a Camera, 319
• Business school institutional structure determines whether theoretical finance thrives #expands (0.80) — Donald MacKenzie, An Engine, Not a Camera, 1095
• Finance scholarship rose from business-school marginality to Nobel-level prominence by the 1990s #expands (0.80)
• Academicization opened finance jobs beyond the Chicago and MIT schools #expands (0.75) — Donald MacKenzie, An Engine, Not a Camera, 323