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The multiple worlds of equity analysts: valuation, volume, and volatility

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  • Jesper Blomberg

Abstract

This paper contributes to the increasing research on how experts within financial institutions co-produce and organize financial markets, and in particular how equity analysts enact stock markets characterized by high volume and volatility. The 20 equity analysts studied give qualitatively different accounts of what, from an outsider's perspective, appear to be very similar work. The analysts understand investment objects, equity markets, and what constitutes good analytical work in qualitatively different ways. This heterogeneity, or multiplicity, could be one source of the, unexplained by orthodox financial theory, ‘excess’ volatility and ‘excess’ trading volume on financial markets. Therefore, the paper complements accounts within heterodox finance theory and sociology-based studies of financial market activities.

Suggested Citation

  • Jesper Blomberg, 2016. "The multiple worlds of equity analysts: valuation, volume, and volatility," Journal of Cultural Economy, Taylor & Francis Journals, vol. 9(3), pages 277-295, June.
    • Handle: RePEc:taf:jculte:v:9:y:2016:i:3:p:277-295
    DOI: 10.1080/17530350.2016.1147478
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    References listed on IDEAS

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    1. Donald Mackenzie & Fabian Muniesa & Lucia Siu, 2007. "Do Economists Make Markets? On the Performativity of Economics," Post-Print halshs-00149145, HAL.
    2. Lucien Karpik, 2010. "Valuing the Unique: The Economics of Singularities," Economics Books, Princeton University Press, edition 1, number 9215.
    3. Donald MacKenzie & Fabian Muniesa & Lucia Siu, 2007. "Introduction to Do Economists Make Markets? On the Performativity of Economics," Introductory Chapters, in: Donald MacKenzie & Fabian Muniesa & Lucia Siu (ed.),Do Economists Make Markets? On the Performativity of Economics, Princeton University Press.
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