Economía del conocimiento y financiarización: tendencias en inversiones corporativas en I+D en un contexto geográfico

dc.contributorGiraldo, Cesar Augusto
dc.contributorAcosta Losada, Orlando
dc.contributorGrupo de Socioeconomía, Instituciones y Desarrollo
dc.creatorSalazar Guatibonza, Flor Esther
dc.date.accessioned2021-10-12T14:46:48Z
dc.date.available2021-10-12T14:46:48Z
dc.date.created2021-10-12T14:46:48Z
dc.date.issued2021-10-08
dc.identifierhttps://repositorio.unal.edu.co/handle/unal/80509
dc.identifierUniversidad Nacional de Colombia
dc.identifierRepositorio Institucional Universidad Nacional de Colombia
dc.identifierhttps://repositorio.unal.edu.co/
dc.description.abstractLa literatura sobre la financiarización de grandes empresas atribuye a esta tendencia efectos negativos sobre la inversión evidenciada en una caída en la acumulación de capital. Considerando que en empresas de alta tecnología, bajo el concepto de economías basadas en conocimiento, un tipo de inversión relevante es la relacionada con Investigación y desarrollo (I&D), este trabajo investigó la relación entre financiarización de corporaciones no financieras (FCNF) y la inversión I&D. En esta investigación se encontraron algunos hechos que aportan a la discusión sobre la noción de financiarizacion de grandes corporaciones que en algunos sentidos difieren de lo planteado en la literatura empírica precedente. Los hallazgos incluyen la identificación de una tendencia a la caída en la inversión en capital fijo pero no en inversiones en I&D, una concentración de pagos a accionistas y de inversiones en I&D en grandes empresas a la vez que estas se tornan menos intensivas en inversiones mostrando un creciente endeudamiento con un cambio en las estructuras de financiamiento a favor de la deuda. Paralelamente a esta tendencia, junto con el mantenimiento de activos financieros, lo que se encuentra como rasgo distintivo es una creciente participación de intangibles en la estructura de activos de las empresas. Asi mismo, no se encuentra evidencia de mayores rentas financieras en la composición de rentas empresariales. Respecto a estos hechos se analiza cómo pueden estar inmersos en una dinámica donde el reforzamiento de activos financieros e intangibles contribuyen con cada vez mayor poder de monopolio y concentración de rentas en un contexto donde el conocimiento es la principal fuente de creación de valor. También se discute que el capitalismo financiarizado y globalizado ha encontrado apoyo en la desregulación del sistema financiero, de los flujos de capital transfronterizos y el fortalecimiento de la flexibilidad laboral, lo cual ha sido señalado por la literatura como factor determinante en la profundización de la inequidad. (Texto tomado de la fuente)
dc.description.abstractThe literature on financialization of large companies points to this trend as a source of negative effects on investment evidenced by a decline in capital accumulation. Considering high-tech companies within the concept of knowledge-based economies, investment in research and development (R&D) is an essential factor in this work, the relationship between financialization of non-financial corporations (FNFC) and R&D investment was investigated. In this research, some facts were identified that contribute to the discussion on the notion about the financialization of large corporations and that in some ways differ from those raised in previous empirical literature. The findings of this research include the identification of a trend toward a decline in fixed capital investment but not in R&D investments. Likewise, a concentration of payments to shareholders and investments in R&D in large companies is observed, at the same time that these companies become less intensive in R&D investments, showing a growing indebtedness and a change in their financial structures that is characterized by propensity towards indebtedness. Alongside this trend, a maintenance of financial assets is present, in which a distinctive feature is the growing trend towards the share of intangibles in the asset structure of companies. Furthermore, no evidence of higher financial rents was found in the composition of corporate income. The present work discusses how these events may be immersed in a dynamic where the strengthening of financial and intangible assets increasingly contributes to granting greater monopoly power and income concentration in a context where knowledge is the main source of value creation. It is also discussed that financialized and globalized capitalism has found support from State intervention to deregulate the financial system and cross-border capital flows and strengthen labor flexibilization, which has been emphasized by the literature as a determining factor in the deepening of inequality.
dc.languagespa
dc.publisherUniversidad Nacional de Colombia
dc.publisherBogotá - Ciencias Económicas - Doctorado en Ciencias Económicas
dc.publisherEscuela de Economía
dc.publisherFacultad de Ciencias Económicas
dc.publisherBogotá, Colombia
dc.publisherUniversidad Nacional de Colombia - Sede Bogotá
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dc.rightsAtribución-NoComercial-SinDerivadas 4.0 Internacional
dc.rightshttp://creativecommons.org/licenses/by-nc-nd/4.0/
dc.rightsinfo:eu-repo/semantics/openAccess
dc.rightsDerechos reservados al autor, 2021
dc.titleEconomía del conocimiento y financiarización: tendencias en inversiones corporativas en I+D en un contexto geográfico
dc.typeTrabajo de grado - Doctorado


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