d to (in no particular order): “quants,” President Obama and his leadership regarding fiscal policy, the American Jobs Act (and what it attempts to actually achieve), U.S. Secretary of the Treasury Timothy Geithner, Chairman of the Fed in the U.S. Ben Bernanke, the U.S. debt ceiling crisis, and the key players and instigators in the European financial crisis of 2011 (but mainly the UK, Greece, Spain, Italy, Germany, and France). As one can see, there are a plethora of areas which are going to be plumbed in this research, and it is hoped that it will be beneficial to both academics and those working in the financial sector in real-time on the ground.
Many times, people ask, what is the real-world application of academics to accounting and finance regulation. The answer is, many of the real-world applications are entities that spurs infighting within the academic world. “[T]he interests of accountants in what we sometimes call the ‘real world’ have broadened…With regard to academic research…this is driven by the choices of academics themselves…” (Whittington, 2007, pp. 420). Without a doubt, academia is definitely spurred on by what interests people who are studying these fields. If it were not for them, probably the field of academic research in finance and accounting would not necessarily be as prolific. So, that is one view. “[B]oth of the 2008 US presidential candidates, Barack Obama and John McCain, promised greater regulation of the finance industry and to rein in ‘self-interest, greed, irresponsibility and corruption’ “ (Bratton, Denham, & Deutschmann, 2009, pp. 301). Unquestionably, the academic world is—although some may argue to the contrary—concerned about real-world applications of their findings to the world of finance and accounting. It may be difficult to do, but many academics are in favor of trying to extract the lessons that can be learned from real-life scenarios, instead of just working on case