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La logique financiaro-rentière des sociétés transnationales

Author

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  • Serfati, Claude

    (IRES, Noisy-le-Grand)

Abstract

A basic hypothesis of this paper is that TNCs constitute a category of their own, based upon a centralisation of financial assets and a specific organisational structure (with the core role held by the holding company). TNCs can be defined as financial groups with industrial activities. Their business model has been deeply reshaped, as regards both their strategy and the management of their assets. Intangible assets, which make up the bulk of large TNCs’ stock capitalization, are analysed in this paper with the concept of goodwill (Veblen) and fictitious capital (Marx).

Suggested Citation

  • Serfati, Claude, 2011. "La logique financiaro-rentière des sociétés transnationales," European Journal of Economic and Social Systems, Lavoisier, vol. 24(1-2), pages 153-178.
    • Handle: RePEc:ris:ejessy:0032
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    More about this item

    Keywords

    transnational companies; rent; intangible assets; goodwill; Marx; Veblen;
    All these keywords.

    JEL classification:

    • B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian
    • D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights
    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
    • P12 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Enterprises

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