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S ince the mid-1980s, the growth of computerization in financial markets has been significant. Technological advances have changed the economics of finance and banking. The extant literature shows how the trading process has become increasingly automated, from order entry to trading venue to the back office (Kirilenko and Lo, 2013). Despite vast technological changes over several decades, there are relatively few studies in information systems and management scholarship on the transformation of financial trading and markets which embrace wider issues of the positive and negative aspects of financialized economies (Starkey, 2015). Studies published prior to the financial crisis of 2008 examine topics including, information technology and time-based competition in financial markets (Dewan and Mendelson, 1998), artefacts used in electronic trading and banking (Barrett and Walsham, 1999; Clemons and Weber, 1996) and asymmetric information and insider trading (Marsden and Tung, 1999). Following the financial meltdown, research has considered investor competence and trading (Graham et al., 2009), experimentation in financial markets (Massa and Simonov, 2009), financial objects in investment banking (Muniesa et al., 2011) and regulatory compliance (Bamberger, 2009; Gozman and Currie, 2014). This special issue on financialization and information technology is organized in two parts, with the first introducing themes, issues and critical debates, and the second, discussing the importance of multi-paradigmatic approaches to finance and IT. The issue has three objectives. First, it combines scholarship from social science disciplines (finance, information systems, political economy) on complex theoretical, empirical and practical issues and debates within financialization, in which multiple actors interact via different levels and units of analysis (Krippner, 2005). Second, it situates financialization in the context of financial innovation and technology. More specifically, it considers how technology mediates and shapes financial markets in periods of stability and crisis. Third, it recommends more multidisciplinary theoretical and empirical work to distinguish accounts which treat financialization as a descriptive variable or as a causal variable with wider implications for markets, firms and investors (Casey, 2012; Lapavitsas, 2011). Part I begins with an examination of themes, issues and critical debates in the financialization literature. It then gives examples of how scholars have identified information technology as playing an important role in financial markets and in financialization. This section distinguishes financial innovation from technological innovation – two terms often conflated in the social sciences. A brief overview is then given on methodological considerations to note that correlation and causality require greater transparency in financialization studies which sometimes confuse outcomes as being the direct result of policy decisions or technological change. The editorial continues with a brief discussion on the criticality of problematizing financialization as a phenomenon which requires more refined definitions and disciplinary integration. Finally, a brief overview is given of each of the five papers featured in this issue.

Financialization and Information Technology: Themes, issues and Critical Debates – part I