The concept of transdisciplinarity is becoming very popular with the increased complexity of problems and solutions that require strong collaboration and expertise across different sciences and disciplines. We can see strong integration trends between various areas of science, arts, technology, and humanities, building up new areas of research and practice in the process...
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In the major journals concerned with Investment Management - FAJ (the principal journal of the CFA Society), Journal of Portfolio Management, and J. Investment Management, it is routine to see the co-mingling of Finance, Economics, Econometrics, and Behavioral Psychology. What is surprising is the lack of interdisciplinary work between { Finance, Economics } and { Computer Science, EE Signals / Systems / Controls, and Operations Research } over the last forty years.
Transdisciplinarity in research especially in economics and finance is quite common these days. There is not lack of interdisciplinary work between finance, economics & computer science, EE signals & Operations research, although I agree that there is less work involving integration with these disciplines. Transdisciplinarity has helped better understand many phenomena in finance as explanations to them were based on an understanding of economics. Inter-disciplinary approach has helped better analysis of data, with integration of finance & econometrics (financial econometrics); development of newer analysis models like use of wavelet analysis etc. in finance, which were previously used only in science for analysis of signals. Use of operations research to solve problems & model situations in financial services has helped researchers in this area develop real-life models & improve the robustness of their research.
As an Administrative Specialist I believe it is necessity indeed in finding proper solutions. Ofcourse it is found that the management is as a transdisciplinary study which tries to solve organizational problems.
By looking at the matrix issued by BCG, it is obvious that a transdisciplinary is conducted to offer the solutions.
It is very interesting that the Financial Balance is also existed in culture, policy, economy and society which was pointed in the book "Organizational Behavior" written by Robbins.
Dear Colleagues,
Thank you very much for your comments.
The concept of transdisciplinarity was introduced five (or, even, six) decades ago as a further development of interdisciplinarity. In general, scientific cooperation involves the readiness to engage in cooperation in science, and interdisciplinarity means concrete cooperation with a finite duration. However, transdisciplinarity is intended to imply that cooperation will lead to an enduring and systematic scientific order that will change the outlook of subject matters and disciplines (economics is not an exception, e.g. behavioural finance). It addresses a range of issues (and solutions) which could not sensibly be attributed to any particular academic discipline or field.
As I have read, transdisciplinary research deals, among other things, with socially relevant real-world, aptly labbeled wicked problems, and creates knowledge that is solution-oriented in a way that it generates results that are relevant to both science and practice. They represent a new thought style and a promising possibility for advanced future education, instead of current uni-disciplinary education in almost all universities.
Best regards from Tuzla,
Emira.
Dear Mr. Levin,
Thank you for your contribution to the issue.
With kind regards,
Emira.
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