section_path: Financial theory
section_name: Financial theory
paragraph_text: Financial theory
  
  Financial theory is studied and developed within the disciplines of management, (financial) economics, accountancy and applied mathematics.Abstractly, finance is concerned with the investment and deployment of assets and liabilities over "space and time"; i.e., it is about performing valuation and asset allocation today, based on the risk and uncertainty of future outcomes while appropriately incorporating the time value of money. Determining the present value of these future values, "discounting", must be at the risk-appropriate discount rate, in turn, a major focus of finance-theory. As financial theory has roots in many disciplines, including mathematics, statistics, economics, physics, and psychology, it can be considered a mix of an art and science, and there are ongoing related efforts to organize a list of unsolved problems in finance.