Michael S. Long and Thomas A. Bryant
- Published in print:
- 2007
- Published Online:
- January 2008
- ISBN:
- 9780195301465
- eISBN:
- 9780199867288
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195301465.003.0003
- Subject:
- Economics and Finance, Financial Economics
This chapter discusses situations where a firm cannot be valued as a going concern. In such cases, value of all assets, both tangible and intangible, are viewed as being put to their most productive ...
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This chapter discusses situations where a firm cannot be valued as a going concern. In such cases, value of all assets, both tangible and intangible, are viewed as being put to their most productive alternative uses. In this context, their earning power is assumed to be higher in some applications other than the current business where they are employed, so their effects on the modified income statement are disregarded. The chapter focuses on an extended Balance Sheet that includes all intangibles.Less
This chapter discusses situations where a firm cannot be valued as a going concern. In such cases, value of all assets, both tangible and intangible, are viewed as being put to their most productive alternative uses. In this context, their earning power is assumed to be higher in some applications other than the current business where they are employed, so their effects on the modified income statement are disregarded. The chapter focuses on an extended Balance Sheet that includes all intangibles.
David J. Teece
- Published in print:
- 2002
- Published Online:
- November 2003
- ISBN:
- 9780198295426
- eISBN:
- 9780191596964
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198295421.003.0001
- Subject:
- Economics and Finance, Microeconomics
The core of management in the knowledge economy is the development and deployment and utilization of intangible assets, the most significant being (tacit) knowledge, competence, and intellectual ...
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The core of management in the knowledge economy is the development and deployment and utilization of intangible assets, the most significant being (tacit) knowledge, competence, and intellectual property. Intangible assets are the main basis of competitive differentiation and successful strategies in many sectors, as manifested in the growing literature on issues such as loyalty, intangible assets, complementary assets, appropriability, and technological know‐how. This chapter discusses some of these important issues, the nature and development of dynamic capabilities, and draws implications for understanding the theory of the business firm.Less
The core of management in the knowledge economy is the development and deployment and utilization of intangible assets, the most significant being (tacit) knowledge, competence, and intellectual property. Intangible assets are the main basis of competitive differentiation and successful strategies in many sectors, as manifested in the growing literature on issues such as loyalty, intangible assets, complementary assets, appropriability, and technological know‐how. This chapter discusses some of these important issues, the nature and development of dynamic capabilities, and draws implications for understanding the theory of the business firm.
MICHAEL SPENCE
- Published in print:
- 2007
- Published Online:
- March 2012
- ISBN:
- 9780198765011
- eISBN:
- 9780191695278
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198765011.003.0002
- Subject:
- Law, Intellectual Property, IT, and Media Law
This chapter talks about several justifications for the endowment of intellectual property rights. These justifications are variously focused upon the activities of the creator of an intangible ...
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This chapter talks about several justifications for the endowment of intellectual property rights. These justifications are variously focused upon the activities of the creator of an intangible asset, its would-be user, and the community in which the creator operates. It explains that none of these justifications offers a single over-arching theory of intellectual property law. However, these justifications would altogether encompass the theoretical basis upon which intellectual property rights are granted, and an understanding of their relative strengths is important to the on-going development of the law in a coherent and principled way.Less
This chapter talks about several justifications for the endowment of intellectual property rights. These justifications are variously focused upon the activities of the creator of an intangible asset, its would-be user, and the community in which the creator operates. It explains that none of these justifications offers a single over-arching theory of intellectual property law. However, these justifications would altogether encompass the theoretical basis upon which intellectual property rights are granted, and an understanding of their relative strengths is important to the on-going development of the law in a coherent and principled way.
Hrishikes Bhattacharya
- Published in print:
- 2011
- Published Online:
- September 2012
- ISBN:
- 9780198074106
- eISBN:
- 9780199080861
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198074106.003.0007
- Subject:
- Economics and Finance, Financial Economics
One of the principal objectives of a finance manager is to maintain the dynamic stability of current assets in response to the level of capacity utilisation. The dynamism can be maintained only when ...
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One of the principal objectives of a finance manager is to maintain the dynamic stability of current assets in response to the level of capacity utilisation. The dynamism can be maintained only when the quality of current assets is such as to ensure their fast movement by continuous replacement, so that they remain current. This chapter critically examines the major items of current assets. It discusses in detail cash and bank balances, sundry debtors/receivables, inventory valuation, various types of stocks/inventories, loans and advances, and intangible and fictitious assets.Less
One of the principal objectives of a finance manager is to maintain the dynamic stability of current assets in response to the level of capacity utilisation. The dynamism can be maintained only when the quality of current assets is such as to ensure their fast movement by continuous replacement, so that they remain current. This chapter critically examines the major items of current assets. It discusses in detail cash and bank balances, sundry debtors/receivables, inventory valuation, various types of stocks/inventories, loans and advances, and intangible and fictitious assets.
Daromir Rudnyckyj
- Published in print:
- 2018
- Published Online:
- May 2019
- ISBN:
- 9780226551920
- eISBN:
- 9780226552118
- Item type:
- chapter
- Publisher:
- University of Chicago Press
- DOI:
- 10.7208/chicago/9780226552118.003.0006
- Subject:
- Anthropology, Social and Cultural Anthropology
This chapter contrasts shariah-compliant and shariah-based Islamic finance, arguing that their difference is ground in different methodologies for creating Islamic financial devices. In documenting ...
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This chapter contrasts shariah-compliant and shariah-based Islamic finance, arguing that their difference is ground in different methodologies for creating Islamic financial devices. In documenting debates over the religiosity of intangible assets, the chapter argues that these two approaches reflect fundamentally different conceptualizations of the relationship between Islamic and secular knowledge. The chapter shows how the formalist approach used in shariah-compliant Islamic finance lends itself to relatively easy replication of conventional financial instruments. The chapter also documents contemporary experiments in Islamic finance as experts seek to synthesize shariah-based instruments, which are viewed as having more religious credibility and authenticity.Less
This chapter contrasts shariah-compliant and shariah-based Islamic finance, arguing that their difference is ground in different methodologies for creating Islamic financial devices. In documenting debates over the religiosity of intangible assets, the chapter argues that these two approaches reflect fundamentally different conceptualizations of the relationship between Islamic and secular knowledge. The chapter shows how the formalist approach used in shariah-compliant Islamic finance lends itself to relatively easy replication of conventional financial instruments. The chapter also documents contemporary experiments in Islamic finance as experts seek to synthesize shariah-based instruments, which are viewed as having more religious credibility and authenticity.
Katerina Alexiou, Emma Agusita, Giota Alevizou, Caroline Chapain, Catherine Greene, Dave Harte, Gail Ramster, and Theodore Zamenopoulos
- Published in print:
- 2016
- Published Online:
- January 2017
- ISBN:
- 9781447324942
- eISBN:
- 9781447324966
- Item type:
- chapter
- Publisher:
- Policy Press
- DOI:
- 10.1332/policypress/9781447324942.003.0008
- Subject:
- Society and Culture, Technology and Society
Asset mapping was the most important methodological tool used in the Creative Citizens project. The history and best practice of this technique, is described, along with its adaptation to this ...
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Asset mapping was the most important methodological tool used in the Creative Citizens project. The history and best practice of this technique, is described, along with its adaptation to this project. Initially understood as a tool for capturing the values that drive creative civic actions and the value thereby generated, here the technique is applied for the dual purpose of supporting research and facilitating collaborative creation, with a focus on intangible assets such as knowledge, capabilities and skills, as well as social and cultural relationships. This approach innovated by examining the value of media assets in community and personal asset maps. We concluded that intangible assets around people, groups and organisations are the main carriers of untapped potential.Less
Asset mapping was the most important methodological tool used in the Creative Citizens project. The history and best practice of this technique, is described, along with its adaptation to this project. Initially understood as a tool for capturing the values that drive creative civic actions and the value thereby generated, here the technique is applied for the dual purpose of supporting research and facilitating collaborative creation, with a focus on intangible assets such as knowledge, capabilities and skills, as well as social and cultural relationships. This approach innovated by examining the value of media assets in community and personal asset maps. We concluded that intangible assets around people, groups and organisations are the main carriers of untapped potential.
Peder Inge Furseth and Richard Cuthbertson
- Published in print:
- 2016
- Published Online:
- March 2016
- ISBN:
- 9780198705116
- eISBN:
- 9780191774218
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198705116.003.0003
- Subject:
- Business and Management, Innovation
Chapter 3 discusses the core assets that provide the capacity to innovate. Tangible assets are usually fixed and can provide the firm with the potential to innovate but may also create barriers to ...
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Chapter 3 discusses the core assets that provide the capacity to innovate. Tangible assets are usually fixed and can provide the firm with the potential to innovate but may also create barriers to innovation by their fixed nature. This is the most visible asset that any company has, and can be sold or transferred. Financial assets are the most fluid of the assets discussed. These provide great opportunity for service innovation as they can be transformed into the other assets required as long as they are large enough. Intangible assets, such as intellectual property rights and brand equity, can be hugely influential in the success or failure of innovation within the service economy. Despite the importance of intangible assets they are often difficult to identify and quantify.Less
Chapter 3 discusses the core assets that provide the capacity to innovate. Tangible assets are usually fixed and can provide the firm with the potential to innovate but may also create barriers to innovation by their fixed nature. This is the most visible asset that any company has, and can be sold or transferred. Financial assets are the most fluid of the assets discussed. These provide great opportunity for service innovation as they can be transformed into the other assets required as long as they are large enough. Intangible assets, such as intellectual property rights and brand equity, can be hugely influential in the success or failure of innovation within the service economy. Despite the importance of intangible assets they are often difficult to identify and quantify.
W. Erwin Diewert
- Published in print:
- 2005
- Published Online:
- February 2013
- ISBN:
- 9780226116129
- eISBN:
- 9780226116174
- Item type:
- chapter
- Publisher:
- University of Chicago Press
- DOI:
- 10.7208/chicago/9780226116174.003.0013
- Subject:
- Economics and Finance, Econometrics
This chapter provides a unified framework for the measurement of capital that addresses many of the issues and topics covered in the volume. It discusses some of the problems involved in constructing ...
More
This chapter provides a unified framework for the measurement of capital that addresses many of the issues and topics covered in the volume. It discusses some of the problems involved in constructing price and quantity series for both capital stocks and the associated flows of services when there are general and asset-specific price changes in the economy. This chapter also reviews the standard methods for measuring capital, examines a range of alternatives for the treatment of depreciation, and explores the role of quality change and how intangible assets stocks could be measured.Less
This chapter provides a unified framework for the measurement of capital that addresses many of the issues and topics covered in the volume. It discusses some of the problems involved in constructing price and quantity series for both capital stocks and the associated flows of services when there are general and asset-specific price changes in the economy. This chapter also reviews the standard methods for measuring capital, examines a range of alternatives for the treatment of depreciation, and explores the role of quality change and how intangible assets stocks could be measured.
Peter Birks
- Published in print:
- 2002
- Published Online:
- March 2012
- ISBN:
- 9780198299936
- eISBN:
- 9780191685811
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198299936.003.0002
- Subject:
- Law, Law of Obligations
The things that make up property may be perceived and treated in various ways. There are physical differences between them. There are also different ways in which we regard them. Property law defines ...
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The things that make up property may be perceived and treated in various ways. There are physical differences between them. There are also different ways in which we regard them. Property law defines and classifies particular types of property, and then, depending on their most significant features, lays down the formalities needed for their transfer or acquisition, and provides certain procedures for their protection. An obvious overall division is into tangible objects and intangible assets. Examples of tangible (or material) objects are land, goods, living creatures, while examples of intangible assets are documentary intangibles such as commercial paper, investment securities such as stocks and bonds, undocumented intangibles, intellectual property, money, funds, and capital and income.Less
The things that make up property may be perceived and treated in various ways. There are physical differences between them. There are also different ways in which we regard them. Property law defines and classifies particular types of property, and then, depending on their most significant features, lays down the formalities needed for their transfer or acquisition, and provides certain procedures for their protection. An obvious overall division is into tangible objects and intangible assets. Examples of tangible (or material) objects are land, goods, living creatures, while examples of intangible assets are documentary intangibles such as commercial paper, investment securities such as stocks and bonds, undocumented intangibles, intellectual property, money, funds, and capital and income.
Robert E. Lipsey
- Published in print:
- 2009
- Published Online:
- February 2013
- ISBN:
- 9780226709598
- eISBN:
- 9780226709604
- Item type:
- chapter
- Publisher:
- University of Chicago Press
- DOI:
- 10.7208/chicago/9780226709604.003.0002
- Subject:
- Economics and Finance, International
This chapter discusses issues concerning the measurement of trade in services. It analyzes the size of exports and imports of service, and their composition, by type of service. This chapter also ...
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This chapter discusses issues concerning the measurement of trade in services. It analyzes the size of exports and imports of service, and their composition, by type of service. This chapter also evaluates how fast the growth in service exports and imports has been, relative to trade in goods and to the production of services. It also suggests that the problems in the measurement of service exports and imports are caused by the ambiguities in defining the location of service production, particularly service production based on intangible and financial assets.Less
This chapter discusses issues concerning the measurement of trade in services. It analyzes the size of exports and imports of service, and their composition, by type of service. This chapter also evaluates how fast the growth in service exports and imports has been, relative to trade in goods and to the production of services. It also suggests that the problems in the measurement of service exports and imports are caused by the ambiguities in defining the location of service production, particularly service production based on intangible and financial assets.
Carol Corrado, John Haltiwanger, and Daniel Sichel
- Published in print:
- 2005
- Published Online:
- February 2013
- ISBN:
- 9780226116129
- eISBN:
- 9780226116174
- Item type:
- chapter
- Publisher:
- University of Chicago Press
- DOI:
- 10.7208/chicago/9780226116174.003.0001
- Subject:
- Economics and Finance, Econometrics
This introductory chapter explains the contents of this volume which is about the measurement of capital in the new economy. The chapters in this volume are revised or edited versions of papers ...
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This introductory chapter explains the contents of this volume which is about the measurement of capital in the new economy. The chapters in this volume are revised or edited versions of papers presented at the Conference on Research in Income and Wealth entitled “Measuring Capital in the New Economy” held at the Federal Reserve Board in Washington D.C. on April 26–27, 2002. The topics discussed include the challenges of how to measure physical capital accumulation and the contribution of intangible assets in an economy that is increasingly dominated by high technology capital and undergoing change brought about by advances in information technology.Less
This introductory chapter explains the contents of this volume which is about the measurement of capital in the new economy. The chapters in this volume are revised or edited versions of papers presented at the Conference on Research in Income and Wealth entitled “Measuring Capital in the New Economy” held at the Federal Reserve Board in Washington D.C. on April 26–27, 2002. The topics discussed include the challenges of how to measure physical capital accumulation and the contribution of intangible assets in an economy that is increasingly dominated by high technology capital and undergoing change brought about by advances in information technology.
Paul Sheard
- Published in print:
- 1994
- Published Online:
- October 2011
- ISBN:
- 9780198288152
- eISBN:
- 9780191684579
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198288152.003.0013
- Subject:
- Economics and Finance, South and East Asia
This chapter discusses the interrelatedness of the financial feature of stable shareholding and the internal feature of permanent employment in the context of corporate governance. The chapter notes ...
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This chapter discusses the interrelatedness of the financial feature of stable shareholding and the internal feature of permanent employment in the context of corporate governance. The chapter notes that the interlocking stable shareholding arrangement operates as a take-over insulation device for Japanese firms. This chapter explores the idea that some degree of insulation from competition in the market for corporate control is conducive to the operation of the permanent employment system. By making credible an investor's ex ante promise not to intervene in the ordinary state of business, stable shareholding provides incentives for managers and workers to invest in firm-specific intangible assets. This chapter also makes an interesting observation regarding the role of securities companies acting as intermediaries for stable reciprocal shareholding arrangements, which does not appear to have been written about before. Insulation from take-over may suggest to neoclassical economists enormous scope for managerial moral hazard. However, the chapter argues that the main bank acts as a kind of delegated monitor, particularly in its intervention role with regard to failing firms, analogous to the take-over mechanism. Also, it is argued that within the context of permanent employment system lower-level managers who have stakes in higher-level managers' decisions may be motivated to carry out internal monitoring.Less
This chapter discusses the interrelatedness of the financial feature of stable shareholding and the internal feature of permanent employment in the context of corporate governance. The chapter notes that the interlocking stable shareholding arrangement operates as a take-over insulation device for Japanese firms. This chapter explores the idea that some degree of insulation from competition in the market for corporate control is conducive to the operation of the permanent employment system. By making credible an investor's ex ante promise not to intervene in the ordinary state of business, stable shareholding provides incentives for managers and workers to invest in firm-specific intangible assets. This chapter also makes an interesting observation regarding the role of securities companies acting as intermediaries for stable reciprocal shareholding arrangements, which does not appear to have been written about before. Insulation from take-over may suggest to neoclassical economists enormous scope for managerial moral hazard. However, the chapter argues that the main bank acts as a kind of delegated monitor, particularly in its intervention role with regard to failing firms, analogous to the take-over mechanism. Also, it is argued that within the context of permanent employment system lower-level managers who have stakes in higher-level managers' decisions may be motivated to carry out internal monitoring.
John Mutti and Harry Grubert
- Published in print:
- 2009
- Published Online:
- February 2013
- ISBN:
- 9780226709598
- eISBN:
- 9780226709604
- Item type:
- chapter
- Publisher:
- University of Chicago Press
- DOI:
- 10.7208/chicago/9780226709604.003.0004
- Subject:
- Economics and Finance, International
This chapter investigates the impact of taxes on royalties and the transfer of the intangible assets of U.S.-based multinational corporations (MNCs) abroad. It describes the strategies of MNCs for ...
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This chapter investigates the impact of taxes on royalties and the transfer of the intangible assets of U.S.-based multinational corporations (MNCs) abroad. It describes the strategies of MNCs for relocating their intangible assets abroad and demonstrates how firms have interpreted two important tax regulations to create these new strategies. This chapter also discusses some successful tax-saving strategies of MNCs and explains the concepts of hybrid structures and cost-sharing agreements.Less
This chapter investigates the impact of taxes on royalties and the transfer of the intangible assets of U.S.-based multinational corporations (MNCs) abroad. It describes the strategies of MNCs for relocating their intangible assets abroad and demonstrates how firms have interpreted two important tax regulations to create these new strategies. This chapter also discusses some successful tax-saving strategies of MNCs and explains the concepts of hybrid structures and cost-sharing agreements.
Grahame R. Dowling
- Published in print:
- 2016
- Published Online:
- January 2017
- ISBN:
- 9780262034463
- eISBN:
- 9780262335089
- Item type:
- chapter
- Publisher:
- The MIT Press
- DOI:
- 10.7551/mitpress/9780262034463.003.0010
- Subject:
- Business and Management, Innovation
The scholarly and management consulting literatures routinely tell companies what they should do in order to create a good reputation. However a problem with much of this advice is that it is not ...
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The scholarly and management consulting literatures routinely tell companies what they should do in order to create a good reputation. However a problem with much of this advice is that it is not supported with reliable evidence or it is routinely violated by companies that have a good corporate reputation. This chapter explores myths like corporate transparency and being more socially responsible.Less
The scholarly and management consulting literatures routinely tell companies what they should do in order to create a good reputation. However a problem with much of this advice is that it is not supported with reliable evidence or it is routinely violated by companies that have a good corporate reputation. This chapter explores myths like corporate transparency and being more socially responsible.
Carol Corrado, John Haltiwanger, and Daniel Sichel (eds)
- Published in print:
- 2005
- Published Online:
- February 2013
- ISBN:
- 9780226116129
- eISBN:
- 9780226116174
- Item type:
- book
- Publisher:
- University of Chicago Press
- DOI:
- 10.7208/chicago/9780226116174.001.0001
- Subject:
- Economics and Finance, Econometrics
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 ...
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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. This book offers new approaches for measuring capital in an economy that is increasingly dominated by high-technology capital and intangible assets. As the chapters show, high-tech capital and intangible assets affect the economy in ways that are notoriously difficult to appraise. In this detailed analysis of the problem and its solutions, the chapters 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.Less
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. This book offers new approaches for measuring capital in an economy that is increasingly dominated by high-technology capital and intangible assets. As the chapters show, high-tech capital and intangible assets affect the economy in ways that are notoriously difficult to appraise. In this detailed analysis of the problem and its solutions, the chapters 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.
Peter Cane
- Published in print:
- 1991
- Published Online:
- March 2012
- ISBN:
- 9780198252368
- eISBN:
- 9780191681370
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198252368.003.0004
- Subject:
- Law, Law of Obligations
This chapter discusses financial assets which also receive protection under the tort of law. The assets discussed are expectancies, trade values, and monetary wealth. Expectancies come in two forms: ...
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This chapter discusses financial assets which also receive protection under the tort of law. The assets discussed are expectancies, trade values, and monetary wealth. Expectancies come in two forms: the contractual and the non-contractual. A contractual expectancy consists of the chance or expectation of entering into a financially advantageous contractual agreement in the future. Non-contractual expectancy, on the other hand, consists of the chance or expectation of making a gain in the future by some means other than contractual agreement. The second group of assets discussed herein consists of trade values or intangible assets, the product of someone's effort and skill which can be exploited to make financial gains. The last group of assets is comprised of monetary wealth in all its forms. The interest being protected here is an interest in the preservation of the financial status quo.Less
This chapter discusses financial assets which also receive protection under the tort of law. The assets discussed are expectancies, trade values, and monetary wealth. Expectancies come in two forms: the contractual and the non-contractual. A contractual expectancy consists of the chance or expectation of entering into a financially advantageous contractual agreement in the future. Non-contractual expectancy, on the other hand, consists of the chance or expectation of making a gain in the future by some means other than contractual agreement. The second group of assets discussed herein consists of trade values or intangible assets, the product of someone's effort and skill which can be exploited to make financial gains. The last group of assets is comprised of monetary wealth in all its forms. The interest being protected here is an interest in the preservation of the financial status quo.
Aruna Nair
- Published in print:
- 2018
- Published Online:
- April 2018
- ISBN:
- 9780198813408
- eISBN:
- 9780191851285
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/oso/9780198813408.003.0008
- Subject:
- Law, Trusts
This chapter examines the case law governing the situations where the holder of a common law right in some asset can claim the traceable proceeds of that asset. It analyses the leading cases that ...
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This chapter examines the case law governing the situations where the holder of a common law right in some asset can claim the traceable proceeds of that asset. It analyses the leading cases that recognise such a possibility and argues that these demonstrate that tracing is possible wherever one person has a legal power to deal with the assets of another, a duty not to exercise that power, and an ability to effectively exercise the power in breach of duty.Less
This chapter examines the case law governing the situations where the holder of a common law right in some asset can claim the traceable proceeds of that asset. It analyses the leading cases that recognise such a possibility and argues that these demonstrate that tracing is possible wherever one person has a legal power to deal with the assets of another, a duty not to exercise that power, and an ability to effectively exercise the power in breach of duty.
Marshall Reinsdorf and Matthew J. Slaughter (eds)
- Published in print:
- 2009
- Published Online:
- February 2013
- ISBN:
- 9780226709598
- eISBN:
- 9780226709604
- Item type:
- book
- Publisher:
- University of Chicago Press
- DOI:
- 10.7208/chicago/9780226709604.001.0001
- Subject:
- Economics and Finance, International
Quantitative measures of international exchange have historically focused on trade in tangible products or capital. However, services have recently become a larger portion of developed economies and ...
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Quantitative measures of international exchange have historically focused on trade in tangible products or capital. However, services have recently become a larger portion of developed economies and international trade, and will only increase in the future. This book examines new and emerging patterns of trade, especially the growing importance of transactions involving services or intangible assets such as intellectual property. Chapters here analyzes the challenges involved in measuring trade in intangibles, the comparative advantages enjoyed by United States service industries, and the heightened international competition for jobs, capital investment, economic growth, and tax revenue that results from trade in services.Less
Quantitative measures of international exchange have historically focused on trade in tangible products or capital. However, services have recently become a larger portion of developed economies and international trade, and will only increase in the future. This book examines new and emerging patterns of trade, especially the growing importance of transactions involving services or intangible assets such as intellectual property. Chapters here analyzes the challenges involved in measuring trade in intangibles, the comparative advantages enjoyed by United States service industries, and the heightened international competition for jobs, capital investment, economic growth, and tax revenue that results from trade in services.
