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Storytelling and structural incoherence in financial markets

Research output: Contribution to Journal/Magazine › Journal article › peer-review

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Storytelling and structural incoherence in financial markets. / Tarim, Emre.
In: Journal of Interdisciplinary Economics, Vol. 24, No. 2, 01.06.2012, p. 115-144.

Research output: Contribution to Journal/Magazine › Journal article › peer-review

Harvard

Tarim, E 2012, 'Storytelling and structural incoherence in financial markets', Journal of Interdisciplinary Economics, vol. 24, no. 2, pp. 115-144. https://doi.org/10.1177/0260107913503931

APA

Tarim, E. (2012). Storytelling and structural incoherence in financial markets. Journal of Interdisciplinary Economics, 24(2), 115-144. https://doi.org/10.1177/0260107913503931

Vancouver

Tarim E. Storytelling and structural incoherence in financial markets. Journal of Interdisciplinary Economics. 2012 Jun 1;24(2):115-144. doi: 10.1177/0260107913503931

Author

Tarim, Emre. / Storytelling and structural incoherence in financial markets. In: Journal of Interdisciplinary Economics. 2012 ; Vol. 24, No. 2. pp. 115-144.

Bibtex

@article{27bb635ac5794ca6955fc790a7e607c7,
title = "Storytelling and structural incoherence in financial markets",
abstract = "This article presents a sociological-narrative approach to studying sensemaking and legitimation in financial markets, and applies this to the Istanbul Stock Exchange (ISE). The sociological-narrative approach taken here differs from standard economics and psychology theories on market behaviour and outcomes. It draws on the existing literature on sensemaking and legitimation in organizations and financial markets, and postulates that financial markets, as realms of meaning and practice, are prone to be structurally incoherent. The incoherence is argued to stem from positionality of market actors. By positionality, I refer to an actor's position in division of labour in market organizations and to an investor's place in market-specific investor classifications. These imply different epistemic resources at the disposal of different actors, and hence structural incoherence in meanings and practices in financial markets. The article demonstrates an example of this incoherence in the case of the ISE by looking at sensemaking and legitimation stories and practices of brokers, investment analysts, media figures and regulators in this market.",
keywords = "Financial markets, Istanbul Stock Exchange, Legitimacy, Narrative, Sensemaking, Storytelling, Structural incoherence",
author = "Emre Tarim",
year = "2012",
month = jun,
day = "1",
doi = "10.1177/0260107913503931",
language = "English",
volume = "24",
pages = "115--144",
journal = "Journal of Interdisciplinary Economics",
issn = "0260-1079",
publisher = "A B Academic Publishers",
number = "2",

}

RIS

TY - JOUR

T1 - Storytelling and structural incoherence in financial markets

AU - Tarim, Emre

PY - 2012/6/1

Y1 - 2012/6/1

N2 - This article presents a sociological-narrative approach to studying sensemaking and legitimation in financial markets, and applies this to the Istanbul Stock Exchange (ISE). The sociological-narrative approach taken here differs from standard economics and psychology theories on market behaviour and outcomes. It draws on the existing literature on sensemaking and legitimation in organizations and financial markets, and postulates that financial markets, as realms of meaning and practice, are prone to be structurally incoherent. The incoherence is argued to stem from positionality of market actors. By positionality, I refer to an actor's position in division of labour in market organizations and to an investor's place in market-specific investor classifications. These imply different epistemic resources at the disposal of different actors, and hence structural incoherence in meanings and practices in financial markets. The article demonstrates an example of this incoherence in the case of the ISE by looking at sensemaking and legitimation stories and practices of brokers, investment analysts, media figures and regulators in this market.

AB - This article presents a sociological-narrative approach to studying sensemaking and legitimation in financial markets, and applies this to the Istanbul Stock Exchange (ISE). The sociological-narrative approach taken here differs from standard economics and psychology theories on market behaviour and outcomes. It draws on the existing literature on sensemaking and legitimation in organizations and financial markets, and postulates that financial markets, as realms of meaning and practice, are prone to be structurally incoherent. The incoherence is argued to stem from positionality of market actors. By positionality, I refer to an actor's position in division of labour in market organizations and to an investor's place in market-specific investor classifications. These imply different epistemic resources at the disposal of different actors, and hence structural incoherence in meanings and practices in financial markets. The article demonstrates an example of this incoherence in the case of the ISE by looking at sensemaking and legitimation stories and practices of brokers, investment analysts, media figures and regulators in this market.

KW - Financial markets

KW - Istanbul Stock Exchange

KW - Legitimacy

KW - Narrative

KW - Sensemaking

KW - Storytelling

KW - Structural incoherence

U2 - 10.1177/0260107913503931

DO - 10.1177/0260107913503931

M3 - Journal article

AN - SCOPUS:84889771726

VL - 24

SP - 115

EP - 144

JO - Journal of Interdisciplinary Economics

JF - Journal of Interdisciplinary Economics

SN - 0260-1079

IS - 2

ER -