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Marx In High Technology Era: Globalisation, Capital And Class
Evolution of
the Marx’s Surplus Value Concept in the conditions of the
Transformation of Technological Generation
Elena Tkachenko
Saint Petersburg State University of Economics (St. Petersburg, Russia)
27th of October, 2018 Jesus College , Webb Library, Cambridge, United Kingdom
New Industrial Development Institute (NIDI)
Слайд 2Motivation
According the Marx Theory of the labor value, the
surplus profit is the result of labor value creation
Слайд 3Motivation
The intellectual capital of an enterprise is a very complicated
and dynamic system consisting of interdependent and interpenetrating elements. The
cost of these elements changes under the influence of both internal and external factors of diverse nature and controverse dynamics. Roos, G. Pike, S. and Fernstrom, L. (2005), Dumay (2009) and Bratianu (2018).
Слайд 4Research Methodology
Our research is based on the methods of observation,
data collection, analysis and synthesis, mathematical modeling in economics and
financial modeling.
In addition, polling methods (questioning) and personal interviews have been used in this research.
Слайд 5Dispute of two Cambridge on the capital nature
Piero Sraffa, Joan
Robinson, Luigi Pasinetti, Pierandzhelo Garenyany as representatives of the English
school, Paul Samuelson, Robert Solow, Frank Khan and Christopher Bliss — the American (neoclassical) school.
Dispute essence:
role and, as a result, measurement of the capital in industrial capitalist societies
economic processes don't result in balance, and therefore the analysis of balance can't be considered the adequate tool for a research of processes of growth and accumulation of the capital.
Polemic value of ideological representations in a situation when conclusions from simple models are unstable
Слайд 6Five capitals model
Natural capital,
Social capital,
Human capital,
Manufactured capital
( physical + intellectual),
Finance capital
http://www.forumforthefuture.org/projects/the-five-capitals
Слайд 7Surplus profit method (capitalization of goodwill) is separately identified among
them as a method which the most correctly meets the
conditions of the cost approach to business. It is connected with one more classification of non-material resources of the enterprise which allows to possess:
business goodwill (undivided intangible assets);
personal goodwill;
identifiable intangible assets
Слайд 8To reveal the relationship between intellectual capital investments and companies’
financial performance, we carried out a survey of top managers
of enterprises in St. Petersburg and Leningrad Region from January to May 2018. We selected sectors of shipbuilding industry with high level of innovation activities because these are the sectors where enterprises generally invest in intangibles, including technologies, research and development, human capital, brands etc.
Regression analysis
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Regression analysis
Also we considered whether an intellectual capital management system
or, at least, its elements exist within a company. The
primary sample contained top managers of 87 companies.
At the first stage it revealed that from 87 companies that formed the sample, only 40 private companies approved their interest in IC management and answered negatively at the question on implication of intellectual capital management methods in their practice. We included them at the sample for the second stage of the study.
Слайд 10Regression analysis
Respondents were asked to state how they would estimate
the investments in the following items of intellectual capital for
the previous three years:
1 – investments in technologies
2 – investments in human capital
3 – investments in brands.
The suggested answers were converted into points from 0 to 3, as illustrated in Table 3.
Слайд 12Regression analysis
To estimate financial performance, we asked respondents to express
their opinion on the financial stability of their enterprises and
proposed the following answers:
0 points – financial stability decreased
1 point – financial stability remained unchanged
2 points – financial stability increased. .
Слайд 13Regression analysis
Df Regression statistics
Multiple R 0,802399657
R-squared 0,643845209
Adjusted R-squared 0,614165644
Std. error 0,855047741
Multiple R 40
Observations SS MS F Df
Regression 3 47,58016 15,86005 21,69322 3,3811E-08
Residuals 36 26,31984 0,731107
Total 39 73,9
Coefficients Standard
error t-statistics P-Value Lower 95.0% Upper 95.0%
Y – intersection 0,792142948 0,370499 2,138042 0,039373 0,04073551 1,54355
X 1 – technologies 0,555496875 0,148859 3,731693 0,000654 0,253596369 0,857397
X 2 – human capital 0,337301126 0,239674 1,407335 0,167904 -0,148779439 0,823382
X 3 – brands 0,699372159 0,225428 3,102414 0,003723 0,242182197 1,156562
Слайд 14The modified model of added value
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Conclusion
The dispute on the capital nature in modern conditions can
be resolved by account on the different parties of balance
the financial capital and the production capital including the physical capital, the natural capital and the intellectual capital
The new essence of the surplus value is that intellectual capital becomes her source.
In ideal model of fair strategic development the financial capital must invest the surplus income in development of technologies and respectively has to limit consumption
The value of the intellectual capital can be estimated on the bases of surplus profit creation
Слайд 16Thank you for your attention
Your questions?