How Organizations, Communities and Individuals Manage Overflows
Edited by Barbara Czarniawska and Orvar Löfgren
Chapter 6: Taking Michel Callon to the Istanbul Stock Exchange: frames, overflows and storytelling
In this chapter, I describe the role of storytelling as a framing device for helping to manage information flows in financial markets. In doing so, I draw on Michel Callon’s conceptual discussion of the importance of framing to the success of market-based exchange relationships. Callon has argued that frames imposed on phenomena and their relationships can disentangle things and render them calculable. To summarize his arguments, I begin with Callon’s discussion on framing in financial markets (1998b, 1999), in order to highlight the neglected role of storytelling in the framing of market phenomena and overflow management in financial markets. I then take this theoretical conversation with Callon to Istanbul, where I have conducted fieldwork research on the ways in which investors and brokerage firms have made sense of financial markets. I thereby demonstrate how storytelling has served to manage flows of information by generating and maintaining shared frames and interpretive templates (Czarniawska, 2008), and how these frames were subjected to occasional overflows. Callon has suggested that a market is a coordination device by which individuals can enter and leave the economic exchange as strangers (1998b, 1999). Frames, a notion Callon borrowed from Goffman (1974), can be seen as brackets or stabilizing devices which create ‘a clear and precise boundary’ (Callon, 1999: 187) among connections to be considered, and connections which can be ignored by actors in their calculations on market exchanges.
You are not authenticated to view the full text of this chapter or article.
Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.
Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.
Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.