Social studies of finance
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Social studies of finance is an interdisciplinary research area that combines perspectives from
financial instruments
. Work in social studies of finance emphasizes the social and cultural dimensions of financial activities, but focuses also on technical and economic dimensions such as pricing and trading.
History
Financial markets have been an object for sociological inquiry since, at least,
Karin Knorr-Cetina and Donald A. MacKenzie
started also developing empirical research in this area, with close attention to the role of expert knowledge and technology in financial activities.
Main topics
Research topics in social studies of finance include the cultural world and work habits of professionals in financial markets, the globalization and regulation of financial services, the processes of innovation in the financial industry and the problems of risk and uncertainty that characterize such processes.
Major references
- Adler, Patricia A. and Adler, Peter (eds) (1984) The Social Dynamics of Financial Markets, Greenwich (Connecticut): The JAI Press. ISBN 0-89232-435-X
- Bernstein, Peter (1993) Capital Ideas: The Improbable Origins of Modern Wall Street, New York: The Free Press. ISBN 0-02-903012-9
- Abolafia, Mitchel Y. (1997) Making Markets: Opportunism and Restraint on Wall Street, Cambridge (Massachusetts): Harvard University Press. ISBN 0-674-54324-6
- Hertz, Ellen (1998) The Trading Crowd: An Ethnography of the Shanghai Stock Market, Cambridge: Cambridge University Press. ISBN 0-521-56497-2
- Smith, Charles W. (1999) Success and Survival on Wall Street: Understanding the Mind of the Market, Lanham (Maryland): Rowman & Littlefield. ISBN 0-8476-9490-9
- Godechot, Olivier (2001) Les Traders: Essai de Sociologie des Marchés Financiers, Paris: La Découverte. ISBN 2-7071-3385-X
- Godechot, Olivier (2017) Wages, Bonuses and Appropriation of Profit in the Financial Industry, London: Routledge. ISBN 978-1-138-12396-0
- Knorr Cetina, Karin and Preda, Alex (eds) (2004) The Sociology of Financial Markets, Oxford: Oxford University Press. ISBN 0-19-927559-9
- MacKenzie, Donald (2006) An Engine, not a Camera: How Financial Models Shape Markets, Cambridge (Massachusetts): The MIT Press. ISBN 0-262-13460-8