Dr Beunza is Assistant Professor of Management. His research in sociology explores the ways in which social relations and technology shape financial value. His award-winning study of a derivatives trading room on a Wall Street bank traces the roots of extraordinary returns to the use of space and internal organisation. His study of financial analysts examined the ways in which social dynamics shaped the valuation of dot-com stocks. Dr Beunza has also conducted a five-year ethnography on the automation of the New York Stock Exchange (profiled in the Wall Street Journal). These articles are part of an emerging literature known as the “social studies of finance.”
Following the financial crisis that started in 2008, Beunza’s research turned to explore the ongoing efforts to reform the financial industry. His study of shareholder engagement received the 2014 Sustainalytics award. He has also examined the standardisation of financial data on environmental and social performance, as well as the role of non-profit and non-governmental organisations in responsible investment. Beunza is currently authoring a book on the role of bank culture in the reform of Wall Street and the City of London.
Beunza’s research has had an impact on practice in the areas of market microstructure and responsible investment. In 2012 he contributed to the Foresight Report on Automated Trading commissioned by the British Government. His Comment Letter to the US Securities and Exchange Commission in August 2013 contributed to changes in the regulation of information exchange between brokers and designated market makers (NYSE Rule 104). Since September 2014, Beunza serves as Chair of the Academic Network of a United Nations-sponsored organisation, the Principles of Responsible Investment Initiative. Since 2007, Beunza has co-edited Socialising Finance, the leading academic blog that disseminates the findings of research on the social studies of finance.
Dr Beunza obtained his PhD from New York University and taught at Columbia Business School in New York City before joining LSE.
View CV (PDF)
Organisational Behaviour Faculty Research Group
“Where do electronic markets come from? Regulation and the transformation of financial exchanges.”
Michael Castelle, Daniel Beunza, Yuval Millo and David Lubin (2016). Forthcoming in Economy and Society.
A Village on Wall Street: Normative Control and Financial Models in a Derivatives Trading Room.
Daniel Beunza (2016) Book manuscript. July 2016.
“A Communicative Action Theory of Dialogue in Shareholder Engagement.”
Fabrizio Ferraro and Daniel Beunza. Winner, Sustainalytics Best Paper Award, 2014.
“Performativity and Institutional Work in Responsible Investment.”
Daniel Beunza and Fabrizio Ferraro. July 2016.
“Agreeable Disagreements: Attunement and Cognitive Alignment in Shareholder Engagement’”
Irene Beccaria, Daniel Beunza, Andreas Hoepner and Fabrizio Ferraro. April 2016.
Blended automation: integrating algorithms on the floor of the New York Stock Exchange
Beunza, Daniel and Millo, Yuval (2015) Blended automation: integrating algorithms on the floor of the New York Stock Exchange. SRC Discussion Paper, No 38. Systemic Risk Centre, The London School of Economics and Political Science, London, UK.
From dissonance to resonance: cognitive interdependence in quantitative finance.
Beunza, Daniel and Stark, David (2012) Economy and Society, 41 (3). pp. 383-417. ISSN 1469-5766
Drilling through the Allegheny mountains: liquidity, materiality and high-frequency trading
MacKenzie, Donald, Beunza, Daniel, Millo, Yuval and Pardo-Guerra, Juan Pablo (2012) Drilling through the Allegheny mountains: liquidity, materiality and high-frequency trading. Journal of Cultural Economy, 5 (3). pp 279-296. ISSN 1753-0350