Corporate power and global value chains: current approaches for conceptualizing the power of multinationals

Jakob Kapeller, Claudius Gräbner-Radkowitsch () and Anna Hornykewycz ()
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Claudius Gräbner-Radkowitsch: Johannes Kepler University Linz
Anna Hornykewycz: Johannes Kepler University Linz

Review of Evolutionary Political Economy, 2024, vol. 5, issue 2, 371-397

Abstract: Abstract The influential position of multinational corporations in the global economy of the twenty-first century is a particularly controversial and timely subject. This paper aims to improve our understanding of this phenomenon by focusing on one particular aspect of it: corporate power. To this end, it first puts forth a number of conceptual clarifications that help to distinguish different kinds of power and the distinct analytical levels at which power is executed. It then focuses on corporate power and studies it against the backdrop of the development of global value chains. The aim of this analysis is twofold: firstly, to review the variety of analytical tools and ontological perspectives that coin current research on corporate power, and secondly, to discuss the causes and practical consequences of asymmetrical power constellations among corporations and between corporations and other actors. This discussion is meant to facilitate a better alignment of applied research on corporate power with pluralist approaches towards rethinking economics.

Keywords: Power; Corporations; Corporate power; Globalization; Networks; Race for the best location (search for similar items in EconPapers)
JEL-codes: B50 F55 F60 F63 P12 (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1007/s43253-024-00121-5

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