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Business as usual in Financial Markets? The creation of incommensurables as institutional maintenance work
- Source :
- Organization Studies, Organization Studies, 2016
- Publication Year :
- 2016
- Publisher :
- HAL CCSD, 2016.
-
Abstract
- International audience; This paper aims to contribute to the literature on "institutional maintenance work". Focusing on the institutional disruption resulting from a regulatory project of market rationalisation, it enriches the description and analysis of the specific institutional maintenance work performed by powerful actors who engage in resistance against what they perceive as a threat to their discretion. Built on an in-depth qualitative study, our case concerns an attempt to change the form of over-the-counter markets as part of a recent financial reform. The paper contributes to the expanding literature on the maintenance of institutions by suggesting, in particular, that the creation of incommensurables should be added to the list of strategies available to powerful incumbents seeking to resist institutional change. Bridging the gap between the literatures on institutional maintenance and commensuration, it also demonstrates that specific institutional changes can usefully be understood as changes in commensuration systems. This innovatively suggests the existence of degrees of commensuration and calls for a finer-grained understanding of the institutional work required to maintain institutions in a context where the degree of commensuration experienced by a field or a market threatens to increase under coercive pressure.
- Subjects :
- Organizational Behavior and Human Resource Management
Strategy and Management
media_common.quotation_subject
Rationalization (economics)
Business as usual
resistance
JEL: M - Business Administration and Business Economics • Marketing • Accounting • Personnel Economics/M.M4 - Accounting and Auditing/M.M4.M40 - General
Market economy
Management of Technology and Innovation
0502 economics and business
Economics
media_common
institutional maintenance
commensuration
business.industry
Institutional change
05 social sciences
Financial market
050201 accounting
Public relations
Discretion
financial derivatives markets
JEL: N - Economic History/N.N2 - Financial Markets and Institutions/N.N2.N20 - General, International, or Comparative
incommensurables
JEL: G - Financial Economics/G.G1 - General Financial Markets/G.G1.G15 - International Financial Markets
[SHS.GESTION]Humanities and Social Sciences/Business administration
financial regulation
business
[SHS.GESTION] Humanities and Social Sciences/Business administration
050203 business & management
Qualitative research
Subjects
Details
- Language :
- French
- Database :
- OpenAIRE
- Journal :
- Organization Studies, Organization Studies, 2016
- Accession number :
- edsair.doi.dedup.....8a512472f72d9fa8ad1e2600c82c62cd