Exploring the role of objects in the transformation of logics: a practice perspective
This article aims to examine the role of objects in the transformation of logics (Thornton & Ocasio, 2008) at the practice level. In particular, it explores how financial actors use, transform and are constrained by their 'market devices' - defined as a range of instruments, models and tools used by financial markets (Callon, Millo, & Muniesa, 2007) - when aiming to (re)design their logics and practices towards more sustainability. It develops a theoretical model based on ever expanding, institutional theory by combining it with practice theories. In particular, the article argues that actors transform their practices, logics and objects, by transforming an epistemic object through a collective inquiry. Empirical support is drawn from a three-year ethnography study of a French asset management company that attempted to (re)design its equity investment process, following new demands for Socially Responsible Investment (SRI). Research methods combine participative observation, semi-structured interviews and documentary evidence. Theoretical andmethodological contributions are outlined for both institutional and practice theories.
|Date of creation:||2011|
|Publication status:||Published in 2011|
|Note:||View the original document on HAL open archive server: https://hal-hec.archives-ouvertes.fr/hal-00633462|
|Contact details of provider:|| Web page: https://hal.archives-ouvertes.fr/|
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- Michel Callon & Yuval Millo & Fabian Muniesa, 2007. "Market Devices," Post-Print halshs-00177891, HAL.
- A. E. Fernández Jilberto, 1991. "Introduction," International Journal of Political Economy, M.E. Sharpe, Inc., vol. 21(1), pages 3-9, April.
- Trevor Hopper & Maria Major, 2007. "Extending Institutional Analysis through Theoretical Triangulation: Regulation and Activity-Based Costing in Portuguese Telecommunications," European Accounting Review, Taylor & Francis Journals, vol. 16(1), pages 59-97.
- Donald MacKenzie, 2006. "An Engine, Not a Camera: How Financial Models Shape Markets," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262134608, March.
- Lounsbury, Michael, 2008. "Institutional rationality and practice variation: New directions in the institutional analysis of practice," Accounting, Organizations and Society, Elsevier, vol. 33(4-5), pages 349-361.
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