After decades of deregulation and innovation, contemporary financial markets remain firmly anchored in law and legal institutions. The idea that private financial actors simply want to escape government oversight and regulation is simplistic as private interests find the coercive powers of the state too useful to forgo. Instead, such actors engage law selectively to create a more certain environment for themselves and their profit-seeking activities. Contract law adds certainty to financial transactions; law shapes how financial actors use information and exploit information technology; law constitutes financial values; and law allows financial institutions to be turned into assets. Law’s application is shaped by changing conceptions of risk, as well as by new business models for financial institutions.

中文翻译：

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法律、治理和金融：理论与社会导论特刊

经过数十年的放松管制和创新，当代金融市场仍然牢牢地扎根于法律和法律制度。私人金融行为者只是想逃避政府监督和监管的想法很简单，因为私人利益认为国家的强制力太有用了，不能放弃。相反，这些行为者有选择地参与法律，为他们自己和他们的营利活动创造一个更确定的环境。合同法增加了金融交易的确定性；法律决定了金融参与者如何使用信息和利用信息技术；法律构成财务价值；法律允许金融机构变成资产。法律的应用受到不断变化的风险概念以及金融机构新业务模式的影响。