The Intangible Economy
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Author | : Jonathan Haskel |
Publisher | : Princeton University Press |
Total Pages | : 292 |
Release | : 2018-10-16 |
Genre | : Business & Economics |
ISBN | : 0691183295 |
Early in the twenty-first century, a quiet revolution occurred. For the first time, the major developed economies began to invest more in intangible assets, like design, branding, and software, than in tangible assets, like machinery, buildings, and computers. For all sorts of businesses, the ability to deploy assets that one can neither see nor touch is increasingly the main source of long-term success. But this is not just a familiar story of the so-called new economy. Capitalism without Capital shows that the growing importance of intangible assets has also played a role in some of the larger economic changes of the past decade, including the growth in economic inequality and the stagnation of productivity. Jonathan Haskel and Stian Westlake explore the unusual economic characteristics of intangible investment and discuss how an economy rich in intangibles is fundamentally different from one based on tangibles. Capitalism without Capital concludes by outlining how managers, investors, and policymakers can exploit the characteristics of an intangible age to grow their businesses, portfolios, and economies.
Author | : Jonathan Haskel |
Publisher | : Princeton University Press |
Total Pages | : 320 |
Release | : 2022-04-05 |
Genre | : Business & Economics |
ISBN | : 0691211582 |
"Restarting the Future argues that the big economic challenges facing the world are the result of our failure to deal with the implications of an economy dependent on knowledge, ideas and relationships. It examines why making this transition is so hard, and looks at ways forward in the fields of public policy, business and finance. The troubling state of rich-world economies (low productivity growth, high inequality, populist instability, climate crisis) is significantly the result of the troubled and incomplete shift to a new type of economy - specifically, the move from an economy dependent on tangible capital to one dependent on intangible capital. At the heart of the problem is a significant slowdown in the pace of intangible investment since the financial crisis. (There were some early signs of this at the time the authors were writing their previous book, Capitalism without Capital, but new data now makes the severity and persistence of this slowdown clear.) This slowdown has happened because we lack the right institutions and strategies to encourage intangible investment and channel it effectively. What is more, there are significant groups with an interest in stopping these new institutions emerging. Contrary to the dominant narrative that focuses on the tension between a successful, future-facing "elite" and a mass of low-status "left-behinds", the authors argue that many of the people and organisations with an interest in holding back the future are affluent and high-status, including affluent retirees, established financial institutions and graduate knowledge workers. Haskel & Westlake survey attempts to fix these institutional problems, explaining how they work in the context of the intangible economy, and what the upside to solving them might be. They describe interesting and topical policy experiments and business strategies (such as Preston's Local Economic Strategy, or topical new business models like WeWork and CloudKitchens) and set them in a novel economic context. (Specifically, these sections look at city policy, business finance and investment, public investment, competition policy, monetary policy, mitigating climate change and business strategies for tangible-based firms. The authors close the book with a political programme for how to get over the teething troubles of the new economy"--
Author | : Carol Corrado |
Publisher | : University of Chicago Press |
Total Pages | : 602 |
Release | : 2009-02-15 |
Genre | : Business & Economics |
ISBN | : 0226116174 |
As the accelerated technological advances of the past two decades continue to reshape the United States' economy, intangible assets and high-technology investments are taking larger roles. These developments have raised a number of concerns, such as: how do we measure intangible assets? Are we accurately appraising newer, high-technology capital? The answers to these questions have broad implications for the assessment of the economy's growth over the long term, for the pace of technological advancement in the economy, and for estimates of the nation's wealth. In Measuring Capital in the New Economy, Carol Corrado, John Haltiwanger, Daniel Sichel, and a host of distinguished collaborators offer new approaches for measuring capital in an economy that is increasingly dominated by high-technology capital and intangible assets. As the contributors show, high-tech capital and intangible assets affect the economy in ways that are notoriously difficult to appraise. In this detailed and thorough analysis of the problem and its solutions, the contributors study the nature of these relationships and provide guidance as to what factors should be included in calculations of different types of capital for economists, policymakers, and the financial and accounting communities alike.
Author | : David Kline |
Publisher | : |
Total Pages | : |
Release | : 2016-04-01 |
Genre | : |
ISBN | : 9780997542622 |
Author | : Stefano Zambon |
Publisher | : Routledge |
Total Pages | : 283 |
Release | : 2016-02-11 |
Genre | : Business & Economics |
ISBN | : 131700115X |
Despite the now widely recognized importance of intangible assets and intellectual capital, they still appear to be poorly understood by both academics and practitioners. Indeed, the necessity for adopting a fresh approach to their reporting, measurement and management is today generally clear and accepted. This book gives room to new perspectives which broaden the scope and depth of the investigation, whilst also opening up innovative methods and opportunities for practice.
Author | : Baruch Lev |
Publisher | : John Wiley & Sons |
Total Pages | : 268 |
Release | : 2016-06-14 |
Genre | : Business & Economics |
ISBN | : 1119191084 |
An innovative new valuation framework with truly useful economic indicators The End of Accounting and the Path Forward for Investors and Managers shows how the ubiquitous financial reports have become useless in capital market decisions and lays out an actionable alternative. Based on a comprehensive, large-sample empirical analysis, this book reports financial documents' continuous deterioration in relevance to investors' decisions. An enlightening discussion details the reasons why accounting is losing relevance in today's market, backed by numerous examples with real-world impact. Beyond simply identifying the problem, this report offers a solution—the Value Creation Report—and demonstrates its utility in key industries. New indicators focus on strategy and execution to identify and evaluate a company's true value-creating resources for a more up-to-date approach to critical investment decision-making. While entire industries have come to rely on financial reports for vital information, these documents are flawed and insufficient when it comes to the way investors and lenders work in the current economic climate. This book demonstrates an alternative, giving you a new framework for more informed decision making. Discover a new, comprehensive system of economic indicators Focus on strategic, value-creating resources in company valuation Learn how traditional financial documents are quickly losing their utility Find a path forward with actionable, up-to-date information Major corporate decisions, such as restructuring and M&A, are predicated on financial indicators of profitability and asset/liabilities values. These documents move mountains, so what happens if they're based on faulty indicators that fail to show the true value of the company? The End of Accounting and the Path Forward for Investors and Managers shows you the reality and offers a new blueprint for more accurate valuation.
Author | : Mr.Giovanni Dell'Ariccia |
Publisher | : International Monetary Fund |
Total Pages | : 45 |
Release | : 2017-11-07 |
Genre | : Business & Economics |
ISBN | : 1484324897 |
We study bank portfolio allocations during the transition of the real sector to a knowledge economy in which firms use less tangible capital and invest more in intangible assets. We show that, as firms shift toward intangible assets that have lower collateral values, banks reallocate their portfolios away from commercial loans toward other assets, primarily residential real estate loans and liquid assets. This effect is more pronounced for large and less well capitalized banks and is robust to controlling for real estate loan demand. Our results suggest that increased firm investment in intangible assets can explain up to 20% of bank portfolio reallocation from commercial to residential lending over the last four decades.
Author | : Baruch Lev |
Publisher | : Rowman & Littlefield |
Total Pages | : 236 |
Release | : 2000-12-01 |
Genre | : Business & Economics |
ISBN | : 9780815798095 |
This book is the first comprehensive, scientifically based study of the nature and impact of intangibles. Weaving case studies and real-world examples with contemporary business theory, Baruch Lev - establishes an economic framework to analyze managerial and investment issues concerning intangibles; - surveys the impact of intangibles on corporate performance and market values, including management difficulties, risk, questions of property rights, marketability, and cost structure; - analyzes information deficiencies associated with intangibles, including the major economic principles governing intangible investments, limits of management information systems, and recommendations for improved accounting disclosure; - sets forth a comprehensive information system—aimed at satisfying the needs of both internal and external decision makers—to reflect the impact and value of intangibles within the context of enterprise performance.
Author | : Bartłomiej Biga |
Publisher | : Routledge |
Total Pages | : 114 |
Release | : 2021-04-05 |
Genre | : Business & Economics |
ISBN | : 1000381544 |
This book focuses on the economic aspects of intellectual property (IP). It includes considerations of the wider category of intangible assets. However, the primary focus is devoted to patents which the author argues are the most vivid example of the Tragedy of Intangible Abundance (TIA). TIA touches upon a key issue in the contemporary economy. On the one hand, there is an enormous supply of IP, yet, on the other hand, such an abundance does not necessarily solve existing issues but rather creates new ones as well. This book elaborates on the reasons for the emergence of TIA and its consequences. The author uses clear metaphors to explain very complex issues. The book provides a valuable and interdisciplinary analysis of the field and offers practical solutions. It is based on the data collected by the author during the qualitative research he conducted among a group of start-ups. It presents guidance on determining which instrument is the most efficient for a particular situation. It also provides arguments for decision-makers and their advisors as to why a more open approach towards intellectual property would be more beneficial under many circumstances in the contemporary economy. While universal issues are addressed, the author distinguishes the European perspective too. The book is written in a clear and concise style and covers all of the crucial aspects of IP management. It will find an audience among scholars of economics and business.
Author | : Andrew J. Sherman |
Publisher | : AMACOM Div American Mgmt Assn |
Total Pages | : 289 |
Release | : 2012 |
Genre | : Business & Economics |
ISBN | : 0814416993 |
Attorney and author Andrew J. Sherman approaches business using a simple, attractive metaphor: Businesspeople are farmers - or, at least, they should be. Entrepreneurs and executives should take a long-range, comprehensive approach to their endeavors, and recognize that time and acquired knowledge play large roles in profitability. Sherman overworks his symbolism, threatening to exhaust its soil, but his images of planting, toiling and reaping succeed as reminders of the approach he wants readers to take. getAbstract recommends his counsel to innovators and those managing innovation, and to leaders seeking a unified organizational vision.