Finance: The Discreet Regulator

LAURENT DEVILLE EDHEC Business School, FranceISABELLE HUAULT Paris Dauphine University and DRM Management Research Center, FranceANNE JENY-CAZAVAN ESSEC Business School, Paris, FrancePAUL LAGNEAU-YMONET Paris Dauphine University, FranceEMMANUEL LAZEGA Paris Dauphine University and a member of IRISSO-CNRS, FranceMARC LENGLET European Business School Paris, FranceJEREMY MORALES ESCP-EuropeLISE MOUNIER Centre Maurice Halbwachs (CNRS), FranceMOHAMED OUBENAL Paris Dauphine University, FranceELISE PENALVA-ICHER Paris Dauphine University and member of IRISSO Social Sciences Research Center, FranceANNE PEZET HEC-Montréal, CanadaMICHAEL POWER Centre for the Analysis of Risk and Regulation (CARR) at the London School of Economics, UKHELENE RAINELLI-WEISS Sorbonne Graduate Business School, FranceCARLOS RAMIREZ HEC Paris, FranceChrystelle RICHARD ESSEC Business School, FranceANGELO RIVA European Business SchoolBenjamin TAUPIN Pôle Universitaire Léonard de Vinci and Dauphine Recherches en Management (DRM), France

• Foreword; M.Power Introduction: Finance: The Discreet Regulator; I.Huault , E.Lazega   C.Richard PART I: POLYMORPHIC ACTORS AS NETWORKS OF INFLUENCE Financialization through Hybridisation: the Subtle Power of Financial Controlling; J.Morales  A.Pezet How Big Four audit firms control standard setting in accounting and auditing; C.Ramirez Ambivalence and ambiguity: The interpretative role of compliance officers; M.Lenglet Maintaining the regulative order in the credit rating agency industry; B.Taupin PART II: MARKETS AND STATES: FORMS OF JOINT REGULATION Banks as Masters of Debt, Cost Calculators, and Risk-sharing Mediators: A Discreet Regulatory Role in the Case of French Public-Private Partnerships; E.Penalva-Icher , C.Richard , A.Jeny-Cazavan  E.Lazega Market Information as a Public Good. The Political Economy of the Revision of the Markets in Financial Instruments Directive (MiFID); P.Lagneau-Ymonet  A.Riva Finance in Public Service: Discreet Joint Regulation and Institutional Capture at the Commercial Court of Paris; E.Lazega  L.Mounier PART III: THE PROCESS OF RULES' PRODUCTION How finance regulates trade union involvement in French SRI; E.Penalva-Icher Constructing the Market for Credit Derivatives. How Major Investment Banks Handle Ambiguities; I.Huault  H.Rainelli-Weiss Legitimizing an Ambiguous Financial Innovation: the case of Exchange Traded Funds in France; L.Deville  M.Oubenal