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

Cristina Reis and André Barroso de Souza

Revue d'économie industrielle, 2018, vol. n° 163, issue 3, 229-262

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.

Keywords: global value chains; international political economy; transnational corporations; financial statements; cost structure (search for similar items in EconPapers)
JEL-codes: F14 L80 O14 O33 (search for similar items in EconPapers)
Date: 2018
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