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Drawing value curves: lessons from financial statements of the world’s biggest manufacturing corporations

Author

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  • Cristina Fróes de Borja Reis
  • André Barroso de Souza

Abstract

?The aims of this paper are, first, to discuss the theory and the data for understanding global value chains (GVC); and second, to analyze the financial statements of the top manufacturing transnational corporations (TNC) in order to learn about value curves. The main contribution is the cost analysis through the financial statements of more than 250 public-listed manufacturing TNC. The conclusions are that smiles are not necessarily a fine image for GVC? value-added curves, but more likely in high technology-intensive industries. Companies and industries whose expenditures are more concentrated in intangible activities, investing more in research & development (R&D) and/or in selling, general and administrative expenses (SG&A), tend to present higher margins than average. ? JEL classification: O14, O33, F14, L80.

Suggested Citation

  • Cristina Fróes de Borja Reis & André Barroso de Souza, 2018. "Drawing value curves: lessons from financial statements of the world’s biggest manufacturing corporations," Revue d'économie industrielle, De Boeck Université, vol. 0(3), pages 229-262.
    • Handle: RePEc:cai:reidbu:rei_163_0229
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    More about this item

    Keywords

    global value chains; international political economy; transnational corporations; financial statements; cost structure;
    All these keywords.

    JEL classification:

    • O14 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • L80 - Industrial Organization - - Industry Studies: Services - - - General

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