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  • The role of intangible assets in explaining the investment-profit puzzle 

    Authors:Orhangazi, Özgür
    Publisher and Date:(Oxford Univ Press, 2019)
    Starting around the early 2000s, and especially after the 2008 crisis, the rate of capital accumulation for US nonfinancial corporations has slowed down despite relatively high profitability; indicating a weakening of the link between profitability and investment. While the literature mostly focuses on financialisation and globalisation as the reasons behind this slowdown, I suggest adding another layer to these explanations and argue that, in conjunction with financialisation and globalisation, ...