scholarly journals Replicating Silicon Valley? Law and Human Capital in the Making of China's Tech Startups

2020 ◽  
pp. 1-29
Author(s):  
Li-Wen LIN
Keyword(s):  
Human Capital ◽  
Political Institutions ◽  
High Velocity ◽  
Stock Options ◽  
Global Economy ◽  
Silicon Valley ◽  
Policy Debate ◽  
Global Policy ◽  
The Common ◽  
Innovation Economy

Abstract The rise of China's tech companies in the global economy raises an urgent need to understand how China incubates its tech startups. China's tech startup ecosystem presents two puzzling legal arrangements for human capital in light of Silicon Valley's experience, the co-existence of enforceable non-compete agreements and the high-velocity labour market, and the common use of stock options with a buyback norm. This article delves into the peculiarities of China's legal and political institutions to resolve these legal puzzles. This article also speaks to a global policy debate about the replicability of Silicon Valley and the necessity of such replication. The Chinese experience offers opposite examples showing the replication complexity: replication yet with deformed practices, and non-replication yet with similar outcomes. The findings suggest that there is unlikely to be a one-size-fits-all model for creating an innovation economy.

Neoliberal Capitalism

Send Lazarus ◽  
2020 ◽  
pp. 65-93
Author(s):  
Matthew T. Eggemeier ◽  
Peter Joseph Fritz
Keyword(s):  
Human Capital ◽  
Everyday Life ◽  
Common Sense ◽  
Political Institutions ◽  
Global Economy ◽  
Global Capitalism ◽  
Neoliberal Capitalism ◽  
Life Itself

This chapter’s verdict on neoliberalism both corroborates the papal diagnosis and makes it more damning. Neoliberalism, both in the principles of its major theorists and in the facts of its execution, is devotion to the global economy as an inscrutable deity, which must be protected by legal and political institutions. The neoliberal project was first conceived in the 1930s, out of a desire by theorists and businesspeople to stave off the threat to global capitalism posed by the demos, the mass of the world’s population. It was first broadly enacted in the 1970s as a strategy of class warfare. Gradually neoliberalism became common sense, a standard for judging what reality is, via a transformation of human self-understanding as human capital. As such, neoliberalism came to constitute a comprehensive ethos of sacrifice, including even everyday life itself, that now stands in fundamental conflict with the Catholic ethos of mercy.

Transformation of the intellectual capital structure and a growth in the significance of its components – human capital and intellectual property – in today's economy

2020 ◽  
Vol 16 (4) ◽  
pp. 745-758
Author(s):  
S.N. Larin ◽  
E.Yu. Khrustalev ◽  
N.V. Noakk
Keyword(s):  
Human Capital ◽  
Economic Development ◽  
Intellectual Property ◽  
Intellectual Capital ◽  
Global Economy ◽  
Information Technologies ◽  
Economic Community ◽  
Intellectual Activity ◽  
Accelerated Growth ◽  
Definition Of

Subject. Currently, as the global economy evolves, its innovative components should demonstrate a tendency of accelerated growth as intellectual capital, information technologies, increasing knowledge and digitization of mushrooming production processes. Nowadays, intellectual capital is one of the economic development drivers. However, the economic community is found to have no generally accepted wording of the concept, thus laying the basis for this article. Objectives. The study sums up the analysis of approaches used by the Russian and foreign economists to determining the economic substance of intellectual capital. We also identify the importance of human capital as its components and specify the definition of the concept. Methods. The article overviews and analyzes proceedings by the most renowned authors, which substantiate how the economic substance of intellectual capital should be unveiled, and suggest its definitions. Results. We specified the definition of intellectual capital concerning the current economic development. We suggest integrating a new component into intellectual capital, such as intellectual property, which includes products of intellectual activity and intangible assets. They can be owned by the entity or other legal entities and individuals, including some employees of the entity. Conclusions and Relevance. The specified definition of intellectual capital will help address issues of sustainable economic development and ensure the competitiveness of the Russian entities nationwide and worldwide, since it directly contributes to intellectual capital and its components.

Accounting for Employee Stock Options

2004 ◽  
Vol 18 (2) ◽  
pp. 135-156 ◽  
Author(s):  
Michael Kirschenheiter ◽  
Rohit Mathur ◽  
Jacob K. Thomas
Keyword(s):  
Stock Options ◽  
Financial Statements ◽  
Cash Flows ◽  
Stock Option ◽  
Share Price ◽  
Employee Stock Options ◽  
Deferred Taxes ◽  
Recommended Treatment ◽  
Option Values ◽  
The Common

Accounting for employee stock options is affected by whether outstanding options are viewed as equity or liabilities. The common perception is that the FASB's recommended treatment (per SFAS No. 123), which is based on the options-as-equity view, results in representative financial statements. We argue that this treatment distorts performance measures for three reasons. First, the deferred taxes associated with nonqualified options should also be included as equity, but are not. Second, since unexpected share price changes affect optionholders and equityholders differently, combining their interests provides an average earnings effect that is not representative for either group. We show that efforts to isolate the interests of common stockholders via diluted earning per share calculations (per SFAS No. 128) are inherently incapable of identifying wealth transfers between stockholders and optionholders. Finally, projections of future cash flow statements prepared under SFAS No. 95 overstate cash flows to current equityholders by the pretax value of projected option grants. We show that these distortions can be avoided simply by accounting for options as liabilities at grant and thereafter recognizing changes in option values (similar to the accounting for stock appreciation rights). Our analysis of stock option accounting leads to two, more general implications: (1) all securities other than common shares should be treated as liabilities, thereby simplifying the equity versus liability distinction, and (2) these liabilities should be recorded at fair values, thereby obviating the need to consider earnings dilution.

Development within the limits of order, 1820–70

2017 ◽  
Author(s):  
John Toye
Keyword(s):  
French Revolution ◽  
Political Institutions ◽  
Common Good ◽  
Natural Rights ◽  
The Common Good ◽  
The Poor ◽  
Nineteenth Century France ◽  
The Common ◽  
State List ◽  
The French Revolution

After the upheavals of the French Revolution, Enlightenment thinkers were blamed for loosening the bonds of society. In nineteenth-century France, Saint-Simon advocated a social compromise whereby scientists and artists planned the path of progress while the propertied classes retained political power albeit acting as trustees for the interests of the poor. Comte called for a scientific sociology to inform the design of political institutions. In Britain, Bentham rejected the doctrine of natural rights in favour of the principle of utility, while J. S. Mill flirted with Comte’s positivism briefly. Marx made little impact and socialism came in the guise of Fabianism and middle-class trusteeship for the poor. In Germany, Hegel interpreted the French Revolution as a phase in a moral struggle for freedom and called for freedom to be reconciled with the idea of the common good embodied in the state. List envisaged the common good as protectionist trade policy.

Human Capital and International Capital Flows: Evidence from China

2021 ◽  
pp. 016001762198942
Author(s):  
Zhenshan Yang ◽  
Yinghao Pan ◽  
Dongqi Sun ◽  
Li Ma
Keyword(s):  
Human Capital ◽  
Capital Flows ◽  
Global Economy ◽  
Global Market ◽  
International Capital Flows ◽  
International Capital ◽  
Outward Fdi ◽  
Local Economies ◽  
Vector Autoregressive ◽  
External Resources

The pattern of international capital flows has changed dramatically in the process of globalization. In this study, we argue that human capital (HC) facilitates a region’s reversal from being a net recipient of external resources to being an active contributor in the global market. Using a panel vector autoregressive regression method, we examine the relationships among regional HC, foreign direct investment (FDI), and outward FDI during 2004–2015 in China. Our results show that HC plays a key role in both attracting FDI and generating outward FDI. The findings contribute to research on the dynamic capacity building of regions participating in the global economy, especially strengthening HC for local economies participating in the global economy as either investment recipients or contributors.

scholarly journals International Trade and Human Capital Investment with Heterogeneous Firms and Workers: Modeling and Analysis

Mathematics ◽  
2021 ◽  
Vol 9 (10) ◽  
pp. 1106
Author(s):  
Jaewon Jung
Keyword(s):  
Human Capital ◽  
International Trade ◽  
Organizational Behavior ◽  
Capital Accumulation ◽  
Global Economy ◽  
Capital Investment ◽  
Investment Decision ◽  
Heterogeneous Firms ◽  
Modeling And Analysis ◽  
Trade Model

Though the importance of organizational behavior and human decision processes within firms for the firm performance has largely been recognized in the business and management literature, much less attention has been devoted to studying such implications in the international trade context. This paper develops a general-equilibrium trade model in which heterogeneous workers make an investment decision in acquiring advanced managerial skills and choose their optimal effort level based on their comparative advantage. In doing so, we show how globalization-induced human capital accumulation within firms leads to sustainable economic growth. We also show that workers’ organizational belief and CEO’s managerial vision may be an important element for the human capital formation within firms and for the performance of firms in a global economy.

Społeczne i kulturowe determinanty funkcjonowania państwa u progu XXI wieku

1970 ◽  
Vol 21 (282) ◽  
pp. 3-18
Author(s):  
Michał Strzelecki
Keyword(s):  
Political Institutions ◽  
Common Good ◽  
The State ◽  
Political Conflicts ◽  
Role Of The State ◽  
Macro Scale ◽  
The Common ◽  
Civic Awareness ◽  
Political Scene

The contemporary state crisis is a derivative of complex economic and social processes. His indicators include not only the visible increase in the intensity of political conflicts (both on a micro and macro scale), the revival and development of separatist tendencies, and the weakening of the role of the state as the basic instrument of organizing collective life. It is also increasing fragmentation of the political scene, the development of particularisms, weakening and progressive dysfunctionality of existing political institutions, increasing economic rivalry and the collapse of the generally accepted axiological system, which is accompanied by increasingly clear questioning of the idea of the common good and progressing pragmatism and egoism. An important element is therefore the disappearance of civic awareness and activity. The intensification of these disturbing tendencies is certainly not supported by the modern education system, whose hallmarks are commercialization and economization, withdrawal of the state and professionalization.

scholarly journals The Impact of Human Capital on Stocks Performance in Emerging Markets: Evidence From Egypt

2020 ◽  
Vol 10 (1) ◽  
pp. 73
Author(s):  
Walid Abouzeid ◽  
Sharihan Mohamed Aly
Keyword(s):  
Human Capital ◽  
Emerging Markets ◽  
Banking Sector ◽  
The Other ◽  
Common Stock ◽  
General Tendency ◽  
Other Hand ◽  
The Common ◽  
The Impact ◽  
Statistical Results

This study attempts to investigate the impact of human capital on the common stock's return. The population of the study is Egyptian companies listed at the Egyptian exchange (EGX) due to 2014-2018. The statistical results indicate that there is a general tendency to change common stock's hold return to the corporation's human capital, and it is significant at 0.01 levels. In other terms, it can be stated that the corporation's human capital has a significant impact on common stock's hold return in the Egyptian corporation, and according to Adjusted R-squared the corporation's human capital explain a 57.8% from the change common stock's hold return.so; led to the impact of human capital on creating value of common stock. This can be traced back to investing in "the development and researches" on the other hand besides training, therefore medicine and technology companies get affected through these fields of development researches areas; however companies in industrial and banking sector get impacted by training field.

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