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Taking the Floor : Models, Morals, and Management in a Wall Street Trading Room / Daniel Beunza.

By: Material type: TextTextPublisher: Princeton, NJ : Princeton University Press, [2019]Copyright date: ©2019Description: 1 online resource (344 p.) : 27 b/w illus. 1 tableContent type:
Media type:
Carrier type:
ISBN:
  • 9780691162812
  • 9780691185996
Subject(s): DDC classification:
  • 332.640973 23
LOC classification:
  • HG4930.5 .B48 2020
Other classification:
  • online - DeGruyter
Online resources: Available additional physical forms:
  • Issued also in print.
Contents:
Frontmatter -- CONTENTS -- ACKNOWLEDGMENTS -- 1. Introduction -- 2. First Impressions -- 3. Trading Robots and Social Cues -- 4. Animating the Market -- 5. Models and Reflexivity -- 6. Managers -- 7. Performative Spirals -- 8. Norms -- 9. Resonance -- 10. The Global Financial Crisis -- 11. Scandal -- 12. When All Is Said and Done -- 13. Conclusion -- METHODOLOGICAL NOTE -- NOTES -- BIBLIOGRAPHY -- INDEX
Summary: Debates about financial reform have led to the recognition that a healthy financial system doesn't depend solely on how it is structured-organizational culture matters as well. Based on extensive research in a Wall Street derivatives trading room, Taking the Floor considers how the culture of financial organizations might change in order for them to remain healthy, even in times of crises. In particular, Daniel Beunza explores how the extensive use of financial models and trading technologies over the recent decades has exerted a far-ranging and troubling influence on Wall Street. How have models reshaped financial markets? How have models altered moral behavior in organizations?Beunza takes readers behind the scenes into a bank unit that, within its firm, is widely perceived to be "a class act" and he considers how this trading room unit might serve as a blueprint solution for the ills of Wall Street's unsustainable culture. Beunza demonstrates that the integration of traders across desks reduces the danger of blind spots created by models. Warning against the risk of moral disengagement posed by the use of models, he also contends that such disengagement could be avoided by instituting moral norms and social relations.Providing a unique perspective on a complex subject, Taking the Floor profiles what an effective, responsible trading room can and should look like.
Holdings
Item type Current library Call number URL Status Notes Barcode
eBook eBook Biblioteca "Angelicum" Pont. Univ. S.Tommaso d'Aquino Nuvola online online - DeGruyter (Browse shelf(Opens below)) Online access Not for loan (Accesso limitato) Accesso per gli utenti autorizzati / Access for authorized users (dgr)9780691185996

Frontmatter -- CONTENTS -- ACKNOWLEDGMENTS -- 1. Introduction -- 2. First Impressions -- 3. Trading Robots and Social Cues -- 4. Animating the Market -- 5. Models and Reflexivity -- 6. Managers -- 7. Performative Spirals -- 8. Norms -- 9. Resonance -- 10. The Global Financial Crisis -- 11. Scandal -- 12. When All Is Said and Done -- 13. Conclusion -- METHODOLOGICAL NOTE -- NOTES -- BIBLIOGRAPHY -- INDEX

restricted access online access with authorization star

http://purl.org/coar/access_right/c_16ec

Debates about financial reform have led to the recognition that a healthy financial system doesn't depend solely on how it is structured-organizational culture matters as well. Based on extensive research in a Wall Street derivatives trading room, Taking the Floor considers how the culture of financial organizations might change in order for them to remain healthy, even in times of crises. In particular, Daniel Beunza explores how the extensive use of financial models and trading technologies over the recent decades has exerted a far-ranging and troubling influence on Wall Street. How have models reshaped financial markets? How have models altered moral behavior in organizations?Beunza takes readers behind the scenes into a bank unit that, within its firm, is widely perceived to be "a class act" and he considers how this trading room unit might serve as a blueprint solution for the ills of Wall Street's unsustainable culture. Beunza demonstrates that the integration of traders across desks reduces the danger of blind spots created by models. Warning against the risk of moral disengagement posed by the use of models, he also contends that such disengagement could be avoided by instituting moral norms and social relations.Providing a unique perspective on a complex subject, Taking the Floor profiles what an effective, responsible trading room can and should look like.

Issued also in print.

Mode of access: Internet via World Wide Web.

In English.

Description based on online resource; title from PDF title page (publisher's Web site, viewed 29. Jul 2021)