Chance no doubt played a role, but Whitley (1986a,b) is surely right to see the academicization of American business schools as having facilitated the development of modern financial economics in the United States. As he points out, the slow development in the U.K. of business schools comparable to those in the United States, and the fact that in the U.K. finance was often taught in departments of accounting and finance that were dominated by accountants, created an institutional context that was much less supportive of theoretical, mathematical approaches to the subject.

Donald MacKenzie, An Engine, Not a Camera, loc. 1095