The Sociology Of Financial Markets

Paperback | June 20, 2006

EditorKarin Knorr Cetina, Alex Preda

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Financial markets have often been seen by economists as efficient mechanisms that fulfill vital functions within economies. But do financial markets really operate in such a straightforward manner? The Sociology of Financial Markets approaches financial markets from a sociological perspective. It seeks to provide an adequate sociological coneptualization of financial markets, and examine who the actors within them are, how they operate, within which networks, and how these networks arestructured. Patterns of trading, trading room coordination, and global interaction are studied to help us better understand how markets work and the types of reasoning behind these trends. Financial markets also have a structural impact on the governance of social and economic institutions. Until now, sociologists have examined issues of governance mostly with respect to the legal framework of financial transactions. Contributions in this book highlight the ways in which financialmarkets shape the inner working and structure of corporations and their governance. Finally the book seeks to investigate the symbolic aspects of financial markets. Financial markets affect not only economic and social structures but also societal cultural images and frameworks of meaning. Barbara Czarniawska demonstrates how representations of gender relationships are a case inpoint. Arguing that financial markets are not simply neutral with respect to questions of gender but enhance certain images and interpretations of men and women. Addressing many important topics from a sociological perspective for the first time, this book will be key reading for academics, researchers, and advanced students of financial markets in Business, Management, Economics, Finance, and Sociology.

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Financial markets have often been seen by economists as efficient mechanisms that fulfill vital functions within economies. But do financial markets really operate in such a straightforward manner? The Sociology of Financial Markets approaches financial markets from a sociological perspective. It seeks to provide an adequate sociologic...

Karin Knorr Cetina is Professor of Sociology at the University of Constance, and member of the Institute for Global Society Studies, University of Bielefeld, Germany. She was Professor of Sociology at the University of Bielefeld, is a former president of the International Society for Social Studies of Science, a former member of the ...

other books by Karin Knorr Cetina

Format:PaperbackDimensions:336 pages, 9.21 × 6.14 × 0.74 inPublished:June 20, 2006Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0199296928

ISBN - 13:9780199296927

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Table of Contents

Karin Knorr Cetina and Alex Preda: IntroductionSection I: Inside Financial Markets1. Saskia Sassen: The Embeddedness of Electronic Markets: The Case of Global Capital Markets2. Karin Knorr Cetina: How Are Global Markets Global? The Architecture of a Flow World3. Donald MacKenzie: How a Super-Portfolio Emerges: Long Term Capital Management and the Sociology of Arbitrage4. Daniel Beunza and David Stark: How to Recognize Opportunities: Heterarchical Search in a Trading Room5. Jean-Pierre Hassoun: Emotions on the Trading Floor: Social and Symbolic Expressions6. Barbara Czarniawska: Women in Financial Services: Fiction and More FictionSection II: The Age of the Investor7. Alex Preda: The Investor as a Cultural Figure of Global Capitalism8. Walter De Bondt: The Values and Beliefs of European Investors9. Richard Swedberg: Conflicts of Interest in the US Brokerage IndustrySection III: Finance and Governance10. Mitchel Y. Abolafia: Interpretive Politics at the Federal Reserve11. Gordon Clark and Nigel Thrift: The Return of Bureaucracy: Managing Dispersed Knowledge in Global Finance12. Michael Power: Enterprise Risk Management and the Organization of Uncertainty in Financial Institutions13. Dirk Zorn, Frank Dobbin, Julian Dierkes, and Man-shan Kwok: Managing Investors: How Financial Markets Reshaped the American Firm14. Gerald Davis and Gregory Robbins: Nothing But Net? Networks and Status in Corporate Governance

Editorial Reviews

`The Sociology of Financial Markets documents [the] intriguingly fresh perspectives [which] are emerging on personal interactions in such settings as trading floors, corporate boards of directors, and central bank policy-making committees.'Financial Analysts Journal