Long-Term Shareholder Returns: Evidence from 64,000 Global Stocks

Bessembinder, Hendrik; Chen, Te-Feng; Choi, Goeun

doi:10.2139/ssrn.3710251

Cited by 5 publications

(2 citation statements)

References 19 publications

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“…The top 20 US firms in terms of net wealth creation accounted for 14.6 per cent of total global net excess wealth creation, from 1990 to 2020 (calculated from Bessembinder et al, 2020). Of these, the 13 firms largely relying on state-created monopolies in the form of IPRs for profitability account for 10.9 per cent of wealth creation, a further five are financial firms, (2.1 per cent) and one is an oil firm (1.1 per cent).…”

Section: Profits and Powermentioning

confidence: 99%

“…But the Bessembinder data and the extreme inequality of profit volumes suggest reasons to think that some firms persistently escape this levelling. Clearly the bulk of firms confront a relatively similar -and low -profit rate (Bessembinder et al, 2020). But equally so, a handful of firms seem to escape the gravitational pull of the equalisation of profit because their links to the state at the centre of the empire help them construct markets favouring their accumulation.…”

Section: Profits and Powermentioning

confidence: 99%

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What’s missing when we think about Global Political Economy?

Schwartz

2022

Global Political Economy

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Global Political Economy (GPE) and especially International Political Economy (IPE) remain relatively silent about three critical and nested issues: the nature of empire as a form of global order, control over the enterprises that structure much quotidian life, and the distribution of profits. Each issue in different ways also highlights heterogeneity across units and actors in the GPE, providing clues to what should be Critical Political Economy’s object of investigation: the structure of power in the global economy. This commentary connects empire, corporate control and the sources of profits to show the connections in the GPE across macro, meso- and micro-levels and how these relate to the racial and gender hierarchies sustaining that structure of power, in the hope of opening up more systematic debate and treatment.

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Section: Profits and Powermentioning

confidence: 99%

Section: Profits and Powermentioning

confidence: 99%