The determinants of value and wealth creation at the firm, industry, and national levels

A conceptual framework and evidence

Christos N. Pitelis, Vasilis Vasilaros

Research output: Contribution to journalArticle

12 Citations (Scopus)

Abstract

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.
Original languageEnglish
Pages (from-to)33-58
Number of pages26
JournalContributions to Political Economy
Volume29
Issue number1
DOIs
Publication statusPublished - 23 Apr 2010

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determinants
firm
macroeconomics
industry
evidence
Values
global governance
corporate governance
OECD
public policy
sustainability
economics
Conceptual framework
Industry
Value creation
Wealth creation
Macroeconomics
Public policy
Sustainable value
Economic sustainability

Cite this

The determinants of value and wealth creation at the firm, industry, and national levels : A conceptual framework and evidence. / Pitelis, Christos N.; Vasilaros, Vasilis.

In: Contributions to Political Economy, Vol. 29, No. 1, 23.04.2010, p. 33-58.

Research output: Contribution to journalArticle

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