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hal.structure.identifierInstitut Supérieur de Gestion
dc.contributor.authorOuriemmi, Oussama
hal.structure.identifierDauphine Recherches en Management [DRM]
dc.contributor.authorGérard, Benoît
dc.date.accessioned2022-01-26T13:27:11Z
dc.date.available2022-01-26T13:27:11Z
dc.date.issued2022
dc.identifier.issn1045-2354
dc.identifier.urihttps://basepub.dauphine.psl.eu/handle/123456789/22474
dc.language.isoenen
dc.subjectFrauden
dc.subjectPenal Stateen
dc.subjectNeoliberalismen
dc.subject.ddc332en
dc.subject.classificationjelP.P1.P16en
dc.subject.classificationjelG.G2.G24en
dc.subject.classificationjelG.G1.G15en
dc.titleControl dynamics in rogue trading: Sovereignty and exception-to-the-rule attitudes in the contemporary financial sphereen
dc.typeArticle accepté pour publication ou publié
dc.description.abstractenSovereignty, for Derrida (2005, 2009), is defined by an exception-to-the rule attitude: the sovereign is the one who decides on an exception. A sovereign can thus “go rogue” and behave as an outlaw, transgressing the rules of his own community. This article applies this conception of sovereignty to analysis of the Kerviel-Société Générale (SocGen) rogue trading affair. It examines the exception-to-the-rule attitude found in the actors of the financial sphere (the trader, the bank, the State) and the underlying control dynamics. Our results show that the trader acts as a rogue when he takes the exceptional right to place himself above his bank’s rules on position-taking. The bank is equally rogue when it reserves the exceptional right to place itself above the prudential regulations governing its sector. The State goes rogue too, granting the banking supervisory body the exceptional right to administer criminal justice. Following Boltanski (2011), our analysis explains these exception-to-the-rule behaviors by the contradictory logics that drive them. Two logics are identified in the financial sphere: the market logic, and the prudence logic. We highlight that fraud, and more generally the exception-to-the-rule attitude, result from the ambivalence generated by the coexistence of these contradictory logics of action, which are notably conveyed through control mechanisms. The study concludes that the State has a major role to play in this respect. More specifically, we raise the point that the neoliberal style of the penal State contributes to the occurrence of fraud.en
dc.relation.isversionofjnlnameCritical Perspectives on Accounting
dc.relation.isversionofjnldate2022
dc.relation.isversionofjnlpages102414en
dc.relation.isversionofdoi10.1016/j.cpa.2021.102414en
dc.relation.isversionofjnlpublisherElsevieren
dc.subject.ddclabelChange, Système monétaire internationalen
dc.relation.forthcomingnonen
dc.description.ssrncandidatenon
dc.description.halcandidateouien
dc.description.readershiprechercheen
dc.description.audienceInternationalen
dc.relation.Isversionofjnlpeerreviewedouien
dc.date.updated2022-01-24T11:33:44Z
hal.identifierhal-03544172
hal.version1
dc.subject.classificationjelHALP - Economic Systems::P1 - Capitalist Systems::P16 - Political Economyen
dc.subject.classificationjelHALG - Financial Economics::G2 - Financial Institutions and Services::G24 - Investment Banking; Venture Capital; Brokerage; Ratings and Ratings Agenciesen
dc.subject.classificationjelHALG - Financial Economics::G1 - General Financial Markets::G15 - International Financial Marketsen
hal.date.transferred2022-01-26T13:27:12Z
hal.author.functionaut
hal.author.functionaut


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