Par Claude Serfati
A basic hypthosesis of the paper is that non-financial transnational corporations can be defined as centers with industrial activities, or as “an organisational modality of finance capital”. The increase in financialisation affects the distribution and appropriation of value in the global value chain. The incredible rise in the value of their intangible assets, which adds a layer to financialisation, exerts deep impact on their innovative activities.
JEL Codes: L22, L24, L14