So according to the International Labor Organization, in the field of
telecommunication TNC, employment remained constant. However, the number of
employees in technological TNCs increases by about 5% annually over the past 5 years.
Operating revenues in such TNCs are likely to increase, but in total assets there is a
11% decrease annually. All these trends show that TNCs create significant volumes of
jobs, but the cost of a corporation still depends on physical capital.
It should be noted that the market capitalization of technological
megacorporations is three times higher than other TNCs. At the end of 2015, 10
technical TNCs took roughly 26% of the total market capitalization of the top 100
TNCs. For comparison, this is twice as high as for assets and operating income. All
this is a consequence of the fact that intangible assets have a fairly high value, such as:
brands, know-how, and other intellectual property [2; 8].
Also, the investment activity of TNCs in the field of innovation and information
development is less vulnerable to the impact of high capital expenditures, debt,
liquidity loss, high cost of fixed costs. Investing in the information sphere is less costly,
since for the creation of the necessary conditions in the host countries only need to be
connected to the Internet, as well as Internet platforms, e-commerce, digital content
were available. Technological and informational TNCs are entering new markets
faster, because they require small assets and a small number of employees. But in turn,
they are quite limited by the location of headquarters of parent companies.
Also, along with the increase of digital development in host countries, the strategy of
internationalization of TNCs and investment behavior in general [3, 4] is changing.
It follows that the digital economy of the host countries is developing in two
directions, namely:
- through online markets (TNCs connect with consumers online and often with
third-party channels, within the small TNC markets only have a local corporate office);
- with the introduction of a digital network in the host countries' economic
activities (digital development of production and operations, namely: fully digital
goods and services (Internet platforms, digital physical goods (digital content) and
informatization of a certain part of the production process).
Technologies that transform the investment behavior of TNCs. In this context,
some traditional motives for investing in TNCs, namely in FDI, are weakening, and
TNC's managerial staff changes the investment strategy in the direction of intellectual
property and in general into intangible assets. Thus, TNCs are beginning to seek
knowledge and develop new technologies for host and home countries, which in turn
reduces the cost of taxing the fixed asset in cases of tangible assets. Investing in
intangible assets is competitive compared to tangible assets.
But in 2017, TNCs invested significant financial resources in the new five
technologies that triggered a heated discussion and controversy between scientists from
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