Karin Knorr Cetina – The Sociology of Financial Markets

Economists see financial markets as efficient mechanisms that fulfill vital functions. Do financial markets operate in a straightforward manner? The Sociology of Financial Markets looks at financial markets from a sociological perspective. It seeks to provide an adequate sociological conceptualization of financial markets, and examine who the actors within them are, how they operate within which networks, and under which cognitive and cultural assumptions. We can better understand how markets work and the types of reasoning behind them by studying patterns of trading, trading room coordination, and global interaction. Financial markets affect the governance of social and economic institutions. Sociology has looked at governance mostly with respect to the legal framework of financial transactions. The ways in which financial markets shape the inner working and structure of corporations are highlighted in this book. The symbolic aspects of financial markets are explored in the book. Financial markets affect both economic and social structures. Barbara Czarniawska shows how representations of gender relationships are made. Financial markets are not neutral with respect to questions of gender but enhance certain images and interpretations of men and women. This book is a must read for academics, researchers, and advanced students of financial markets in Business, Management, Economics, Finance and Sociology.