Book Review: Daniel Beunza, Taking the Floor: Models, Morals, and Management in a Wall Street Trading Room
Organization Studies, Forthcoming
10 Pages Posted: 25 Jun 2020
Date Written: May 27, 2020
Drawing on research initiated in September 1999, Taking the Floor reports on a mixed-methods study of a Wall Street trading room, research that ultimately concluded in 2015. The key pivot for the book is the 2008 global financial crisis. Beunza’s jumping off point is “the recognition that the moral standards on Wall Street, and not simply the standards set by law, are critical to a healthy financial system” (p. 1). On this diagnosis, morals are essential to both the practice and study of finance. But such a conclusion only raises further questions: first, how is morality related to the crises experienced by banks and other financial organizations; and second, how can moral standards be improved on Wall Street?
Keywords: Financial Crisis, Valuation, Morals, Wall Street, Book Review
JEL Classification: G01, G21, G24, G28, B26
Suggested Citation: Suggested Citation