Taking the Floor (eBook)

Models, Morals, and Management in a Wall Street Trading Room

Daniel Beunza (Autor)

eBook Download: EPUB

2019
344 Seiten
Princeton University Press (Verlag)
978-0-691-18599-6 (ISBN)

Infos

An inside look at a Wall Street trading room and what this reveals about today's financial systemDebates 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 in a bank unit that, within its firm, is widely perceived to be "e;a class act,"e; 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.

Autor

Daniel Beunza is an associate professor in the Cass Business School at City, University of London.

Produkt-Details

• Erscheint lt. Verlag: 3.9.2019
• Zusatzinfo: 27 b/w illus. 1 table.
• Verlagsort: Princeton
• Sprache: englisch
• Themenwelt: Sozialwissenschaften ► Pädagogik
• Themenwelt: Sozialwissenschaften ► Soziologie ► Mikrosoziologie
• Themenwelt: Wirtschaft ► Betriebswirtschaft / Management ► Planung / Organisation
• Themenwelt: Wirtschaft ► Volkswirtschaftslehre ► Finanzwissenschaft
• Schlagworte: Account (accountancy) • algorithmic trading • Arbitrage • Asset Management • Back Office • Bank • Bankruptcy • Bear Stearns • Bloomberg Terminal • Calculation • Career • Collaboration • Commercial Bank • Competition • Credit Default Swap • Credit Derivative • Credit Rating • credit risk • cubicle • Customer • Deregulation • Desk • disaster • Economics • Economic Sociology • economist • electronic markets • Employment • Enron • Equity derivative • Finance • Financial Crisis • Financial crisis of 2007–08 • Financial innovation • Financial institution • Financial Services • Fraud • Funding • Glass–Steagall Legislation • Goldman Sachs • Governance • Hedge Fund • Incentive • income • Insider • interdependence • Investment banking • Investor • J. P. Morgan • Lehman Brothers • Long-Term Capital Management • market liquidity • Market Participant • Materiality (auditing) • mathematical finance • Mergers and acquisitions • Middle Management • Moral disengagement • NASDAQ • New York Stock Exchange • Open outcry • Opportunism • Option (finance) • Options arbitrage • organization • P 500 Index • Partnership • Payment • payout • percentage • performativity • Probability • Profit (economics) • proprietary trading • Provision (accounting) • Rate of return • Rational Choice Theory • Risk • Risk Management • S&amp • S&P 500 Index • Securitization • Senior Management • Shareholder • Share Price • skepticism • social relation • Sociology • Statistical Arbitrage • Stock Market • stock trader • Subsidiary • Supervisor • Swap (finance) • Technology • Trader (finance) • Trading Room • Trading Strategy • Uncertainty • Value at risk • Volcker Rule • Whiteboard
• ISBN-10: 0-691-18599-9 / 0691185999
• ISBN-13: 978-0-691-18599-6 / 9780691185996