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(p. 587) Index
(p. 587) Index
accounting:
and
asset-liability approach 297
and brand
accounting 303
and creative
accounting 300
and crisis of
confidence in 293–4
as
discipline 304–5
and
economics 305–8
and fair value
accounting 300–3
and historical
cost convention 296–7
and lack of
single optimum method 297–8
and managerial
accounting 293
and
performative character of 308
and political
character of 294
as
profession 304
and purpose
of 296
and social
studies of 308–9
and
sociologists’ interest in 294
and value-added
accounting 309
adventure
capitalism 180
agency
theory 52
and changes in
business practices 69
and corporate
strategy 56
and
dediversification 62–4
and
downsizing 66–8
equity holding
among executives 59
firm
performance 59–60
and industrial
focus 62–3
ratio of CEO
compensation to other employees 61
transfer of
profits to executives 60–2
Alternative Dispute
Resolution (ADR) 413–14
alternative
finance 413, 415
and alternative
currencies 424–5
as big
business 414
and challenge
to the state 423–4
and difficulty
in specifying 418
and illicit and
illegal finance 425–6
and meaning
of 415
and
philanthropy 422–5
and
relationship between scholarship and activism 414
and
religion-based practices 419–21
American Finance
Association 548–9
American Institute
of Certified Public Accountants (AICPA) 293
American Recovery
and Reinvestment Act (USA, 2009) 330
American Stock
Exchange 580
analysts, see financial
analysts
arbitrage 178, 200
and academic
debate about 207
and apparent
losses 194
and
asset-backed securities (ABS) 198–9
and Brazilian
bond market example 189–91
and challenge
of 207–8
and
collateralized debt obligations (CDOs) 198–9
and
consequences of failures 188
and credit
crisis (2007–8) 197–9
and
diversification 196
and economics’
conception of 188–9
and Italian
bonds 187–8
and lack of
academic attention to 188
and market
constitution 187
and materiality
of 191–3
and merger
arbitrage 210–16
and process
of 207–8
and
regulation 216–17
and
requirements of 187
and sociality
of 193–7
and
speculation 194
art,
financialization of 471–2, 482–3
and art price
services 476–7
as contested
process 473–4
and
contradictory definitions of art 473–4
and evolution
of art as investment good 472–3
and expert
opinion 474–5
and future
of 482–3
and limitations
of 479–82
and market
research companies 478
and performance
of art investments 478–9
and price
setting 474
and private
equity funds 477–8
and
rationalization of data provision 476–7
and role of
economists 478–9
and
securitization 476
and size of
art market 471
and stages
of 475–8
and structural
barriers to 475
and structured
finance 477
Art Market
Research 478
Art Trading
Fund 473
asset management
funds 21
Atticus
Global 215–16
auction
markets 134, 136–8
and
decision-making 134–5
and financial
markets, relationship between 135
and format
of 137
and
information and communication technologies (ICTs) 147
and objective
of 137–8
and
repackaging 143–4
automation, seefinancial
automation
balance of payments
deficits 324–5
Banking Act (USA,
1933) 364
Banking Act (USA,
1935) 97
Bank of
England 493
bankruptcy
law 504
banks:
and Bretton
Woods (BW) internationalism 15–16
and central
activity of 342
and
consolidation 45
and
deregulation 350
and expansion
of financial markets 45
and fee-based
business model 348
and finance
capitalism 36–7
and
government 342
and
intermediation 342
and runs
on 540
Barbalet,
Jack 540–1
bargaining, and
private-treaty transactions 136
behavioral
finance 555–6
benign neglect, and
US current account deficits 323–5
Braverman,
Henry 571
Bretton Woods
system:
and dollar as
key currency 318–20
and domestic
economic management 17
and end
of 364–5
and liquidity
creation mechanism 321–3
business
groups:
and activities
of 76
and
agent-based model analysis 85–6
and
clustering 84–5
and
coherence 82
and
comparative study of 84–5
and
coordination 76
and definition
of 75–6
and diversity
of 76–7
and economic
and political power 75
and
function-form efficiency 77–9
and
genealogical rules of culture 85–8
and horizontal
organization 76
and
identification of 82–3
and long-term
investment horizons 76
and moral
economy 89–90
and research
on 75
and sociology
of financial markets 90–1
and the
state 88–9
and vertical
organization 76
central
banks:
and
interpretive techniques 95
and technical
rationality 94
and tension
between technical discourse and expert judgment 94–5
chart
analysis 259–60
Chartered Financial
Analyst (CFA) 250
Chicago Board of
Trade 172
Chicago Mercantile
Exchange (CME) 172
China, and
financial markets 450–1, 458
and ‘Chinese
characteristics’ 466–7
and futures
exchanges 453
construction
of 462–3
Event 327
(1995) 461–2
as flexible
vocational units 456–8
local
government 462–3
ownership
of 456
subjectivity 462
vertical
hierarchy 454–6
and history
of 452–3
and
methodology of study 451
and political
power 465
and ratio of
financial assets to GDP 22
and regional
clusters 458–63
and state's
role 465
and two-tier
economic structure 453–4
China Financial
Futures Exchange (CFFEX) 453
China Securities
Regulatory Commission (CSRC) 458
cities 181–3
Citigroup 477
clearing, and
financial automation 574–6
cognition, and
emotions 160–1
cognitive
frames 377
collateralized debt
obligations (CDOs), and credit crisis (2007–8) 197–9
commercial
papers 332
communitas 383
Companies Act (UK,
1844) 502
complexity, and
science of 75
composite financial
instruments 144
confidence, and
role in finance 529–30, 542
and academic
neglect of 529
and economists
on 530–8
Adam
Smith 532
Alan
Walters 530–2
behavioral
economics 536–7
George
Akerlof and Robert Shiller 536–7
neuroeconomics 537
Walter
Bagehot 532–3
and
signs 543
and
sociologists on 538–42
Jack
Barbalet 540–1
Jocelyn
Pixley 541
Keith
Hart 541–2
Robert K
Merton 540
and types of
actors 543
conglomerates 62
constrictive
individualism 390
consumer
credit 366
contagion, and
financial crisis (2007–9) 47
control, and
financial automation 573–4
corporate
governance 34
and influence
of domestic politics 39
and legal
systems 38
and political
institutions 42–3
Cotation Assistée
en Continu (CAC) 579–80
credit:
and financial
markets 119–21
and
governments’ favoring of expansion of 341–2
and
inequality 503–4
credit-rating
agencies 25
Credit Rating
Agency Reform Act (USA, 2006) 284–5
debt financing:
and agency theory 64–5
and corporate
vulnerability 65–6
and
debt-to-equity ratio 65
and defunding
pension funds 66
debt
servitude 504
decision-making in
financial markets 134–5, 165–6
and judgmental
biases 155
and model
use 164–5
and mutual
obligations 163
and price
anticipation 163
dediversification:
and agency
theory 62–3
and average
level of 63
and firm
performance 63–4
and job
losses 64
derivatives:
and fair value
accounting 302
and growth
of 19
and
pricing 145–6
and value of
traded 20
Deutsche
Bank 349
Deutsche
Börse 173
development, and
financial markets 44–5
developmental
state 37
digital
money 424
diversity:
and
dissonance 205
and
innovation 204–5
and
problem-solving 204
and
regulation 216–17
and trading
rooms:
external
diversity 210–15
internal
diversity 206–10
pattern
recognition at the desks 208–9
re-cognition across principles 209–10
and trading
strategy 215–16
dollar
(US):
and benign
neglect 323–5
and dominance
in post-Bretton Woods period 320–1
(p. 592)
And International Liquidity Creation
Mechanism:
seigniorage
problem 322
United
States’ role 321–3
as
intervention currency 319
as key
currency in Bretton Woods system 318–20
as reserve
currency 319
and threats to
status of 335–6
as transaction
currency 319
as vehicle
currency 319
downsizing 66–8
economic
management 17
economic
performativity theory 147
economy, and
cultural construction of 377–8
econophysics 557–8
efficiency, and
financial automation 573
efficient market
theory 223
and
arbitrage 228
and criticisms
of 552–3
and
difficulties with 228–30
and logic
of 226–8
and marginal
investors 227
and
performativity theory 230
as realist
perspective 233
and
sociologists’ attitudes towards 224
Employee
Retirement Income Security Act (USA, 1974) 54–5
European debt
crisis (2010–11) 1
exchange traded
funds (ETFs) 144
execution of
trades, and financial automation 578–81
executive
compensation 53, 54, 56, 57–62
and changing
form of 58
and earnings
management 60
and equity
holding among executives 59
and firm
performance 59–60
and ratio of
CEO compensation to other employees 61
and
shareholder value 54
and transfer
of profits to executives 60–2
fair value
accounting 300–3
Federal Deposit
Insurance Corporation (FDIC) 344
Federal Home Loan
Bank Act (USA) 363
Federal Home Loan
Mortgage Corporation, see Freddie
Mac
Federal Housing
Administration (FHA) 344
Federal National
Mortgage Association, seeFannie
Mae
Federal Reserve
System (USA) 390
and creation
of 96
and historical
context of control of monetary policy 95–6
bureaucratic control 96–7
market-based control 96
technocratic control 97–8
and inflation
policy in 1970s 97
debates
over 98–102
dialectic
between discourse and judgment 103–5
interpretive techniques 105
rationalizing techniques 105–7
signaling
techniques 107–9
and reform of
(1935) 97
and
responsibilities of 95
and subprime
mortgages 351
Federal Savings
and Loan Insurance Corporation (FSLIC) 344
Fedwire 576
finance:
and bridging
of space-time 360
and ecologies
of 360
and
economics 4–5
and exclusion
from circuits of 360
as fourth
pillar of economy 119–21
and
globalization 2–3
and historical
roots of 1
and
inequality 503–4
and national
economic systems 36–43
and networked
nature of 360
and sociology
of 5
and
sociology's perspective on 3–4
and
specialized function of 4
financial
analysts:
and agency
theory 56
and analysis
as a profession 260–3
conflicts
of interest 262–3
ethical
codes 261–2
expansion
of 264–5
forecasting
performance 260–1
knowledge
codification 260
legitimacy
of 261–2
and
dediversification 63
and historical
emergence of 251–5
financial
economics 254
financialization 253
fundamental
analysis 252–3
globalization of financial professions 254–5
technical
analysis 251–2
and practices
of 255–60
analysts
consensuses 258–9
chart
analysis 259–60
fundamental
analysis 255–9
industry
analysis 255–6
information
sources 256–7
market
analysis 258
stories 258
valuation
methods 257–8
and research
approaches to 250–1
and role
of 250
and
shareholder value 264
and
theoretical shortcomings in studying 265
financial
assets:
and growth in
global value of 22
and growth in
stock of 20
and ratio of
global financial assets to global GDP 21–2
financial
automation 568
and action
coordination 570
and definition
of 571–2
and fragmented
innovation 581–2
and impact
of 570–1
and
incompleteness of 583
and market
information 577–8
and nature of
technological change 570
and
persistence of manual intervention 582–3
and role of
technologists and engineers 583
and sociology
of 569–71
and spheres of
financial activity 572
and
technological transformation 572
and trade
execution 578–81
financial
centers 23–7, 28
and alliances
and takeovers 27
and
competition 14
and
consolidation within countries 25–6
and diverse
functions of 23
and dominance
of leading centers 26
and gateway
functions in less powerful countries 26–7
and incomplete
knowledge problem 23–5
and increasing
power of 360
and
traders 181–2
and urban
knowledge capital 23
financial
crises 385–6, 391,
491
and
accountability 376
and animal
spirits 380
and
characteristics of 376
and cultural
construction of the economy 377–8
and
ideological shifts 378–9
and mania
followed by panic 379
and outcomes
of 387
and piacular
rituals of accountability 388–9
and purity and
danger 384–5
and ritual
nature of 384
and shaping
social time 381
as symbolic
action 378–80
as symbolic
and ritual events 376
financial crisis
(2007–9) 1
and
arbitrage 197–9
and causes
of 317–18
and causes of
mortgage market collapse 353–4
and credit
expansion 2
and global
glut of liquidity 330
and
international contagion 47
and no-fault
society 390
and political
reactions to 33–4
and ratings
agencies 285
and responses
to 389–90
and state's
role in creating 352–3
and unequal
impact of 33
and United
States 46–7
financial
economics 546
and
accounting 298–300
and challenges
to dominant paradigm 552–3
January
effect 553
size
effect 554
social
studies of financial markets 556–7
stock price
volatility 553
weekend
effect 553
winner's
curse 553
and
consolidation of financial centers 551–2
and
constitution of dominant paradigm (1960s & 1970s) 550–2
efficient
markets theory 551–2
mean-variance portfolio optimization 551
option
pricing model 552
and
development of:
capital
asset pricing model (CAPM) 550
efficient
markets theory 549–50
role of
economics 548–50
role of
probability theory 547–8
and emergence
of 254
financial
fraud 393–4
and
alternative finance 426
as condition
of capitalism 404–5
and
criminogenic markets approach 397
and data
(in)adequacy 406
and deception
through non-disclosure 395
and
destructive power of 404
and future
of 404–6
and inadequacy
of regulatory responses to 404
and insider
trading 395–6
and
institutions 401–3
government
institutions 403
government-linked 402–3
offshore
banking 403
pervasiveness in 402
purpose-built for fraud 403
structural
conditions 401–2
and
Internet 396–7
and legal
recognition of 396
and robustness
of financial system 405
and scope and
cost of 394
and
uncertainty 394
financial
history 492, 504–5
and
inequality 503–4
Financial
Institutions Reform Recovery and Enforcement Act (USA, 1989) 369
financial
instruments:
and art
objects as 143
and complexity
of 146
and composite
instruments 144
and
repackaging 144
and
tradability of 143
financial
markets 134
and action
structure of 122
and advantages
of 122
and
architecture of 123–6
exchange
traded markets 123
microsociological institutional foundations 124
organization 123–4
response
system 125
and auction
markets, relationship between 135
as collective
social form 116
and
credit 119–21
and
decision-making 134–5
and definition
of 138
and difference
from primary markets of production economy 116
and diversity
of things traded on 33
and economic
development 120
and economic
growth 44
as fourth
pillar of economy 119–21
and
geographical fragmentation of 569
and historical
influences on 38
and increased
participation in 33
and
information and communication technologies (ICTs) 147
and market
concepts:
form of
exchange 117–18
as
institution 118
price
discovery mechanism 117
spatial
notion of 116–17
and market
flow 128
and material
cultures of 569
and nature
of 121–2
and
neoliberalism 44–5
as
nontraditional markets 116
and
relationship-initiating/ending time transactions 121–2
and social
studies of 556–7
and sociology
of 90–1
and
speculative nature of transactions 122
as structured
and coordinated cultural form 115
and
technological innovation 569
and temporal
nature of 128–9
and traders’
role 127–8
and trading
floors 127
as virtual
societies 173
Financial Services
Agency (FSA) 443
firm, and change
in conception of 300
firm
size 81
fixed-price
transactions 136
Frankfurt 26
fraud, see financial
fraud
Germany:
and bank
lending 1
and
consolidation of financial centers 26
and pension
funds 21
and
shareholder value 46
global capital
market:
and
accountability functions of 18
and
cross-border operational field 19
and
denationalization of state policy 19
and
differences from earlier phases 18
and
digitization 18
and
formalization and institutionalization of 18
and
information and communication technologies (ICTs) 18
and power
of 18
global cities, and
urban knowledge capital 24–5
global
finance 13
and components
of 13
and
constraints on 23–4
and
differentiation from rest of market economy 14
and growth
conditions and patterns 13
and
incorporation of national economies 26
and
interconnections created by 33
and networked
format of 13–14
gold, and key
currencies 318–19
gold
arbitrage 187
Government
National Mortgage Association (Ginnie Mae), see Ginnie
Mae
Gramm-Leach-Bliley
Act (USA, 1999) 317
Great Depression
(1930s), and regulation of finance 363–4
Greece 34
gross domestic
product (GDP), and ratio of global financial assets to global
GDP 21–2
Grossmann,
P 518
Hart,
Keith 541–2
health-care, and
accounting 307
herding
behavior 214
Home Mortgage
Disclosure Act (USA, 1975) 369
homophily 84
identity, and
financial fraud 397–9
implied
volatility 146–7
impression
management 398–9
incorporation, and
regulation of 501–2
industrial policy,
and financial organization 503
inequality:
and
finance 503–4
and growth
of 22
and ratio of
CEO compensation to other employees 61
and top decile
income share (1917–2005) 22
inflation 97
and cost-push
inflation 97
and Federal
Reserve policy in 1970s 97–109
as priority of
macroeconomic policy 365
informational
transparency 174
information and
communication technologies (ICTs):
and
algorithmic processing 174
and auction
markets 147
and electronic
trading 171–3
and global
capital markets 18
and impact on
market narratives and practices 147–8
and
informational transparency 174
information
systems, and financial automation 577–8
institutional
investors:
and central
role of 52
and debt
financing 65
and
downsizing 67
and Employee
Retirement Income Security Act (USA, 1974) 54–5
and executive
compensation 58
and hostile
takeovers 62–3
and rise
of 54
institutionalism 118
Intel 581
interaction, and
financial fraud 399–401
interactions, and
decision-making 153–4, 165–6
and
emotions 160–1
and
face-to-face interactions 153
and model
use 164–5
and mutual
obligations 163
and price
anticipation 163
and trading
decisions 152
international
monetary regime 318
and American
manufacturing industry 333–5
and American
policy autonomy 325–30
International
Society of Financial Analysts (ISFA) 254–5
international
trade, and value of 20
International
Valuations Standards Committee (IVSC) 303
Internet, and
financial fraud 396–7
Interstate
Commerce Commission (ICC) 499
Investment Company
Act (USA, 1940) 277
Islamic banking
and finance 414, 445
and
asset-based bonds 420
and charitable
lending 434
and definition
of 433
and
distinctiveness of 431
and diversity
of Islamic world 433–4
and financial
models 420
and
interpretations of Shariah 434
and productive
activity 420
and
risk-sharing 420
and
Shariah-compliant financial products 436–7
debate
over insurance products 437
debate
over Islamic bonds 437
geographical breakdown of 432
and similarity
to conventional finance 439–41
coercive
isomorphism 443–4
competitive isomorphism 444
critique
of claim 441–3
mimetic
processes 444
reasons
for 443–4
and social
scientists’ disappointment with 437
and structure
of Islamic finance industry 435–6
Islamic Bank of
Britain 443
Islamic
Development Bank 436
Islamic Fiqh
Academy 436
January
effect 553
Jasmine
Revolution 335–6
keiretsu 77
Keynes, John
Maynard 17, 223, 231, 364, 377, 380, 405
and animal
spirits 535
and
credit 119
and finance
motive 119–20
and investment
decisions 232
and
speculative markets 231
large-value
payment systems (LVPS) 576
law and economics,
and financial systems 37–8
Leff
Hypothesis 78
liminality, and
financial crises 381–2
communitas 383
linguistic
shifters 382
structure and
anti-structure 383–4
limited
liability 501–2
London Interbank
Offered Rate (LIBOR) 198
manufacturing
industry, and declining job-creating capacity 333–5
market:
as form of
exchange 117–18
as an
institution 118
as mechanism
of price discovery 117
and spatial
notion of 116–17
and
traditional connotations of 119
market
efficiency:
and definition
of 223
and
integrative approach to 223
and reasons
for sociologists’ concern with 224–6
and
regulation 242
and
self-recursive market hypothesis (SRMH) 231–3
market
information, and financial automation 577–8
mark to
market 194
Married Women's
Property Acts (UK) 512
material
sociology 189
mean-variance
portfolio optimization 551
metaphors, and
economic discourse 377
mobile
money 424–5
Money is Love
movement 421
money market
mutual funds 332
moral economy, and
business groups 89–90
mortgage-backed
securities (MBSs) 330, 344–5,
367
and causes of
mortgage market collapse 353–4
and credit
default obligations (CDOs) 345
and
government-sponsored enterprises (GSEs) 347–8
and investors
in 345
and prepayment
risk 346
and rise of
industrial model of MBS market (1993–2007) 347–50
mortgage
market:
and
banks 348
and capital
mobility 360–1
and causes of
meltdown of 353–4
and complex
financial instruments 351–2
and
convergence of 349–50
and
Countrywide Financial 348–9
and demand for
mortgage finance 364
as engine of
global financial system 357
and expansion
of 367–8
and fee-based
orientation of banks 348
and
geographical nature of 358
and government
as main player in 352–3
under Johnson
Administration 345–6
and nature of
mortgages 361
and origins
of 358
and ownership
of properties 361
and
pervasiveness of 358
and
regulation, Great Depression (1930s) 363–4
and role in
underpinning financialized capitalism 366–8
and spatial
separation from housing market 366–7
and special
purpose vehicles (SPVs) 344–5
and state's
role in creating financial crisis 352–3
and vertical
integration of 339–40, 348–9 see also mortgage-backed
securities (MBSs); subprime mortgage
market
mortgage
securitization 340
municipal bond
ratings 280–1
National
Federation of Financial Analysts (NFAA) 253–4
National Housing
Act (USA, 1934) 344
nationally
recognized statistical rating organizations (NRSROs) 279–81
network
analysis 204
neuroeconomics,
and trust 537
no-fault society,
and financial crisis (2007–9) 390
Office of the
Comptroller of the Currency (USA, OCC) 277
oil crises
(1973–4, 1978–9) 320
optimal
experience 179–80
Organization of
the Islamic Conference (OIC) 436
organizations:
as cognitive
ecologies 205
and
dissonance 205
and diversity
and system performance 203–4
and
organizational change 204
and
organizational ecology 204
outsourcing 334
oxytocin 537
paper
currency 379
Paris
Bourse 579–80
Peau de
L’Ours 472
Pecora
Hearings 388
Penn Central
Transportation Co 278
pension
funds:
and growth in
value of assets 21
and impact of
debt financing 66
and support
for agency theory prescriptions 56
pensions, and
women 518–20
philanthropy, and
alternative finance 422–5
physics, and
econophysics 557–8
Pixley,
Jocelyn 541
politics and
finance 47–9
and collapse
of communism 43–4
and corporate
governance 42–3
and financial
organization 35–6
historical
influences on 38
influence
of domestic politics 39–40
labor
organization 39–40
and law and
economics 37–8
and national
economic development 37
and national
economic systems 36–43
and
neoliberalism 44–5
and political
institutions 41–3
and reactions
to financial crisis 33–4
and state
intervention 37
and structural
organization of finance 34
and varieties
of capitalism 40–1
Ponzi,
Charles 397
Poor, Henry
Varnum 276
power, and global
capital markets 18
(p. 603)
pricing:
and
algorithmic processing 147–8
and
financialization 143
and
fixed-price transactions 136
and marginal
investors 227
and market
practices 141–2
and
narratives 141–2
and
options 145–6
and
private-treaty transactions 136
and
self-recursive market hypothesis (SRMH):
as
constructionist perspective 233
difficulties with 232–3
logic
of 231–2
and social
generation of 142
private debt
securities, and growth of 21
private-treaty
transactions 136
privatization 44
probability
theory, and financial economics 547–8
problem-solving,
and diversity 204
profit, and
regulation of 498–9
ratings
agencies 272–3
as
analysts 284
and capital
requirements tied to ratings 278–9
and chronology
of major events 287
and corporate
governance 284
and credit
rating process 283
and criticisms
of 282–4
and definition
of a rating 272
and financial
crisis (2007–9) 285
and impact of
financial scandals 282–4
and liability
for poor outcomes 285
and municipal
bond ratings 280–1
and nationally
recognized statistical rating organizations (NRSROs):
impact on
business model 279–80
as
political superpowers 280–1
and
nineteenth-century credit reporting 273–4
and
nineteenth-century published ratings 274–5
and origins of
bond rating agencies 276–7
as
participants not reporters 286–8
and profit
margins 286
and
regulation 500–1
and regulation
of 284–5
and regulatory
use of ratings in interwar period 277–8
and structured
finance 286–8
rationalizing
techniques, and technical rationality 105–7
real bills
doctrine 97
reflexive reason,
and traders 175–7
Regan,
Donald 334
Regnault,
Jules 557
regulation 496–503
and
arbitrage 216–17
and
constitutive rules 501–2
and corporate
profitability 498–9
and Great
Depression (1930s) 363–4
and
incorporation 501–2
and
institutional regulation 499
and market
efficiency 242
and
models 217
and private
regulation 499–500
and provision
of financial information 497–8
and regulatory
competition 497
and securities
regulation 499
and
traders 170
retirement income,
and women 518–20
Riegle-Neal
Banking Act (USA, 1994) 369
Russia, and
state-business relationship 89
saving, and
women 519
Schumacher
Society 414
science and
technology studies (STS) 204
screen-based
trading 124, 125,
126, 128,
162, 171–2,
173
and demands of
continual focus 177–8
and global
microstructure 173
and validation
of market 173
securities
analysts, see financial
analysts
securitization:
and art
market 476
and
deregulation 367
and
governments’ pioneering of 341
and mortgage
market 366–8
seigniorage 322
settlement, and
financial automation 574–6
sexism, in
financial services sector 521
Shanghai Futures
Exchange (SHFE) 453
Shanghai
International Securities Co Ltd (SISCO) 461
Shanghai Shenyin
International Securities Ltd (SSIS) 461
Shanghai Stock
Exchange 452
shareholder
value:
and changes in
business practices 69
and debt
financing 64–6
and
dediversification 62–4
and
downsizing 66–8
and financial
analysts 264
and industrial
focus 62–3
and
institutionalization of 263–4
and raising
value by cutting pension contributions 68–9
Singapore, and
ratio of financial assets to GDP 22
size effect, and
financial economics 554
social
entrepreneurship, and alternative finance 422
sociology of
finance 5
sociophysics 557
Sovereign-American
Arts Corporation 476
sovereign
debt 493–5
space, and
traders 181–3
special drawing
rights (SDRs) 320
special purpose
vehicle (SPVs), and mortgages 344–5
stakeholder
theory 52
state,
the:
and
alternative finance 423–4
and
banks 342
and Bretton
Woods (BW) internationalism 15–17
and business
groups 88–9
and continued
centrality of 48
and
denationalization of state policy 19
and global
capital markets 19
and national
economic development 37
and
regulation 361
and role in
creating financial crisis 352–3
and threat of
mobile finance 46
state
intervention, and financial organization 36–7
subprime mortgage
market 340, 357–8
and attraction
of 368
and complex
financial instruments 351–2
and
exploitation of class-monopoly rents 369–71
and
government-sponsored enterprises (GSEs) barred from 351
and growth
of 350–1
and motivation
for creation of 369
and ownership
of properties 361–2
and state's
role in creating financial crisis 352–3
surveillance, and
financial automation 574
susu
associations 417
Tax Reform Act
(USA, 1986) 346
technical
rationality:
and central
banks 94
and dangers of
empowering technical elite 110–11
and definition
of 94
and Federal
Reserve inflation policy in 1970s:
debates
over 98–102
dialectic
between discourse and judgment 103–5
interpretive techniques 105
rationalizing techniques 105–7
signaling
techniques 107–9
and
interpretive power 109–11
and
limitations to 109–10
and objects of
knowledge 102–3
and political
implications 109
and
uncertainty 110
telephone, as
medium of financial fraud 396
trade execution,
and financial automation 578–81
traders:
and adventure
capitalism 180
and commitment
to the market 180–1
and criticisms
of 169
and
discipline 179
and fictional
depictions 180
and financial
markets 127–8
and
independent traders 171
and
institutional settings 170
and lack of
demographic information about 170
and moral
allegiance 180–1
and
nonproprietary traders 171
and
objectification of the market 175
and optimal
experience 179
and physical
skills 192
and
proprietary traders 171
and reflexive
reason 175–7
and regulation
of 170
and skills
of 171
and social
inclusion 182
as
symbols 180
and techniques
for understanding price patterns 175–6
information sources 176–7
physical
location 177
and techniques
of 171
trading
rooms 206
and external
diversity 210–15
and internal
diversity 206
desks 209
pattern
recognition at the desks 208–9
re-cognition across principles 209–10
and
organization of 208–9
and trading
strategy 215–16
trust:
and
arbitrage 195
and economists
on 537–8
and
neuroeconomics 537
and
signs 543
Truth in Lending
Act (USA, 1968) 498
unemployment, and
dediversification 64
Uniform Small Loan
Law (USA) 498
United Arab
Emirates 443
United
Kingdom:
and corporate
finance 2
and financial
markets, development of 36
and pension
funds 21
and political
reactions to financial crisis 33–4
United
States:
and Bretton
Woods (BW) internationalism 15
and
consolidation of financial centers 25–6
and corporate
finance 2
and current
account deficits, benign neglect 323–5
and financial
organization 35, 37,
502
changes
in 38–9
influence
of domestic politics 39
reorganization of 45–6
and financial
regulation, Great Depression (1930s) 363–4
and foreign
direct investment by 333–4
and investment
banks 45
and
manufacturing, declining job-creating capacity of 333–5
and monetary
policy, history of 95–6
bureaucratic control 96–7
market-based control 96
technocratic control 97–8
and pension
funds, growth in value of assets 21
and pension
system 43, 52
Employee
Retirement Income Security Act (1974) 54–5
growth in
defined contribution plans 55
and ratio of
financial assets to GDP 22
and
shareholder value 45
and
takeovers 45
and tax
cuts 326, 327, 328, 329, 330 see also dollar
(US); Federal Reserve System
(USA); mortgage
market
value chain
production 334
value
investing 223, 226
and
difficulties with 235–6
and logic
of 234–5
and
value-based price floor 236–9
venture
capital 76
Victorian
values 515
VISA 424
volatility:
and pricing of
financial instruments 146–7
and stock
prices 553
and traded
commodity 147
Walters,
Alan 530–2
war, and financial
markets 36
War Profits
Control Act (USA) 499
weekend
effect 553
winner's
curse 553
women, and Wall
Street 182–3
