Electronic financial markets: cultural characteristics, social relations and financial instruments in the decision making of stockbrokers
DOI:
https://doi.org/10.22481/ccsa.v18i32.9023Keywords:
New Economic Sociology. Stockbrokers. Financial analysis. Social relationships. Decision-making.Abstract
This research, conducted from the perspective of the so-called "New Economic Sociology", investigates stockbrokers, with an emphasis on the professional and cultural characteristics of these fundamental agents in the electronic financial markets. This time, through documentary analysis and twenty structured interviews, carried out in 2018 and in the work environment of these operators, this study has a qualitative nature and brings important contributions to analyze this segment of society. In short, this article analyzes the decision-making process of these brokers, builds a word cloud and builds a solid analysis of feelings, based on the profile of the activities they carry out, amalgamating the predilections for certain financial instruments of analysis in the act of buying and selling shares, as well as the cultural characteristics of the profession and the social relationships maintained by these individuals. The results indicate that the social networks established among professionals in the area are of vital importance in the decision-making process and that the most used tool in the daily lives of brokers is the graphical (technical) analysis, with fundamentalist, macroeconomic and econometric estimates being relegated to a plan smaller. On the other hand, it is noted that the broker will incur conflicts of interest, as it aims to maximize brokerage fees (commissions) and can indicate to investors to “rotate” the portfolio constantly. In addition, the word cloud showed that respondents repeatedly compare nuances of the current electronic financial markets with the times of the open floor and make constant use of finance terms throughout the speech. Regarding the analysis of feelings, there is a prevalence of animosity behavior among stockbrokers, emotions that capture the optimism of these actors with the dizzying growth of the capital market in the country. Finally, it is understood that the culture of Stockbrokers in Brazil, especially in the city of Belo Horizonte, converges to the reality of other countries and financial markets already researched by authors in the area of social finance.
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