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Corporate power and global value chains: current approaches for conceptualizing the power of multinationals

Author

Listed:
  • Jakob Kapeller

    (University of Duisburg-Essen
    Johannes Kepler University Linz)

  • Claudius Gräbner-Radkowitsch

    (Johannes Kepler University Linz
    Europa-University Flensburg)

  • Anna Hornykewycz

    (Johannes Kepler University Linz)

Abstract

The influential position of multinational corporations in the global economy of the twenty-first century is a particularly controversial and timely subject. This paper aims to improve our understanding of this phenomenon by focusing on one particular aspect of it: corporate power. To this end, it first puts forth a number of conceptual clarifications that help to distinguish different kinds of power and the distinct analytical levels at which power is executed. It then focuses on corporate power and studies it against the backdrop of the development of global value chains. The aim of this analysis is twofold: firstly, to review the variety of analytical tools and ontological perspectives that coin current research on corporate power, and secondly, to discuss the causes and practical consequences of asymmetrical power constellations among corporations and between corporations and other actors. This discussion is meant to facilitate a better alignment of applied research on corporate power with pluralist approaches towards rethinking economics.

Suggested Citation

  • Jakob Kapeller & Claudius Gräbner-Radkowitsch & Anna Hornykewycz, 2024. "Corporate power and global value chains: current approaches for conceptualizing the power of multinationals," Review of Evolutionary Political Economy, Springer, vol. 5(2), pages 371-397, September.
    • Handle: RePEc:spr:revepe:v:5:y:2024:i:2:d:10.1007_s43253-024-00121-5
    DOI: 10.1007/s43253-024-00121-5
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    Keywords

    Power; Corporations; Corporate power; Globalization; Networks; Race for the best location;
    All these keywords.

    JEL classification:

    • B50 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - General
    • F55 - International Economics - - International Relations, National Security, and International Political Economy - - - International Institutional Arrangements
    • F60 - International Economics - - Economic Impacts of Globalization - - - General
    • F63 - International Economics - - Economic Impacts of Globalization - - - Economic Development
    • P12 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Enterprises

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