The determinants of value and wealth creation at the firm, industry, and national levels: A conceptual framework and evidence
- Publication Type:
- Journal Article
- Contributions to Political Economy, 2010, 29 (1), pp. 33 - 58
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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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