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The Sociological Approach To Financial Markets


  • Alex Preda


As a part of the renaissance and growth of economic sociology during the past two decades, and in response to processes such as economic globalization, financial markets have been increasingly scrutinized by sociologists. Their investigation is seen as relevant with respect to understanding the structure and dynamics of advanced societies, the dynamics of social development, as well as fundamental aspects of human behaviour. This paper charts recent developments in the sociology of financial markets; its starting point is the treatment of the concept of information within three sociological orientations: the social-structural approach, sociological neo-institutionalism and the newer social studies of finance. By highlighting their different assumptions about information and market behaviour, I discuss how these approaches conceptualize financial markets, the methodological implications and the ways in which they contribute to the study of financial exchanges. Copyright 2007 The Author Journal compilation © 2007 Blackwell Publishing Ltd.

Suggested Citation

  • Alex Preda, 2007. "The Sociological Approach To Financial Markets," Journal of Economic Surveys, Wiley Blackwell, vol. 21(3), pages 506-533, July.
  • Handle: RePEc:bla:jecsur:v:21:y:2007:i:3:p:506-533

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    References listed on IDEAS

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    2. Sheila C. Dow, 2013. "Framing finance: A methodological account," Working Papers PKWP1308, Post Keynesian Economics Study Group (PKSG).
    3. Norberg, Peter, 2009. "Trading Trust - Post-Aristocratic Finance in the City of Stockholm," SSE/EFI Working Paper Series in Business Administration 2009:8, Stockholm School of Economics.
    4. Sheila C. Dow, 2012. "The methodology of finance," Chapters,in: Handbook of Critical Issues in Finance, chapter 30, pages i-ii Edward Elgar Publishing.
    5. Fredrik Hansen, 2013. "The efficient-markets hypothesis after the crisis: a methodological analysis of the evidence," Chapters,in: Before and Beyond the Global Economic Crisis, chapter 3, pages 55-71 Edward Elgar Publishing.
    6. Goldstein, Adam & Fligstein, Neil, 2010. "The Rise and Fall of the Nonconventional Mortgage Industry," Institute for Research on Labor and Employment, Working Paper Series qt1dm808j6, Institute of Industrial Relations, UC Berkeley.
    7. Andrikopoulos, Andreas & Economou, Labriana, 2016. "Coauthorship and subauthorship patterns in financial economics," International Review of Financial Analysis, Elsevier, vol. 46(C), pages 12-19.
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    10. Williams, James W., 2013. "Regulatory technologies, risky subjects, and financial boundaries: Governing ‘fraud’ in the financial markets," Accounting, Organizations and Society, Elsevier, vol. 38(6), pages 544-558.

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