The determinants of value and wealth creation at the firm, industry, and national levels: A conceptual framework and evidence

Pitelis, CN; Vasilaros, V

The determinants of value and wealth creation at the firm, industry, and national levels: A conceptual framework and evidence

Pitelis, CN Vasilaros, V

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Publication Type:: Journal Article
Citation:: Contributions to Political Economy, 2010, 29 (1), pp. 33 - 58
Issue Date:: 2010-04-23

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Field	Value	Language
dc.contributor.author	Pitelis, CN	en_US
dc.contributor.author	Vasilaros, V	en_US
dc.date.issued	2010-04-23	en_US
dc.identifier.citation	Contributions to Political Economy, 2010, 29 (1), pp. 33 - 58	en_US
dc.identifier.issn	0277-5921	en_US
dc.identifier.uri	http://hdl.handle.net/10453/29915
dc.description.abstract	We aim to provide firm-level foundations to the issue of macroeconomic value and wealth creation and capture. We propose a framework for value creation by firms and aggregate it to the industry-sector-region, macroeconomic (nation-wide), and supranational (global) levels. We discuss firm and nation-wide strategies for value capture and analyse their relationship with sustainable value and wealth creation. We construct requisite variables and test our value creation framework for 17 OECD countries using panel data. We find support for our integrative framework. We also explore its implications for managerial practice, corporate governance, public policy, and global governance that foster economic sustainability. © The Author 2010. Published by Oxford University Press on behalf of the Cambridge Political Economy Society. All rights reserved.	en_US
dc.relation.ispartof	Contributions to Political Economy	en_US
dc.relation.isbasedon	10.1093/cpe/bzq003	en_US
dc.subject.classification	Economics	en_US
dc.title	The determinants of value and wealth creation at the firm, industry, and national levels: A conceptual framework and evidence	en_US
dc.type	Journal Article
utslib.citation.volume	1	en_US
utslib.citation.volume	29	en_US
utslib.for	1402 Applied Economics	en_US
utslib.for	1401 Economic Theory	en_US
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Business
pubs.organisational-group	/University of Technology Sydney/Faculty of Business/Management Discipline
utslib.copyright.status	closed_access
pubs.issue	1	en_US
pubs.publication-status	Published	en_US
pubs.volume	29	en_US

Abstract:

We aim to provide firm-level foundations to the issue of macroeconomic value and wealth creation and capture. We propose a framework for value creation by firms and aggregate it to the industry-sector-region, macroeconomic (nation-wide), and supranational (global) levels. We discuss firm and nation-wide strategies for value capture and analyse their relationship with sustainable value and wealth creation. We construct requisite variables and test our value creation framework for 17 OECD countries using panel data. We find support for our integrative framework. We also explore its implications for managerial practice, corporate governance, public policy, and global governance that foster economic sustainability. © The Author 2010. Published by Oxford University Press on behalf of the Cambridge Political Economy Society. All rights reserved.

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http://hdl.handle.net/10453/29915