Asset value derives from future earnings rather than intrinsic commodity value
Evidence
Generally, an asset is valued in terms of the expected benefits a business will derive from it in the future (i.e., future earnings), worked out through specific valuation practices such as DCF analyses (Doganova 2011), or other methods (Bratic, Blok, and Gostola 2014). In this way, value is constituted by valuation practices focused on an organizational entity (i.e., firm) and not on the value latent or inherent in a commodity. — Kean Birch, Rethinking Value in the Bio-economy, 73
Categorization
- DEFINE: Clarifies the core assetization shift: value is constituted by valuation practices on a firm, not latent in a commodity.
- XREF: connects to: One’s debt is always another’s asset and income stream — Mark Blyth, Austerity: The History of a Dangerous…, 44; An asset is property yielding an income stream, unlike a commodity for sale. — Kean Birch, Rethinking Value in the Bio-economy:…, 40; Analyzing bio-economy value requires focusing on assets rather than commodities — Kean Birch, Rethinking Value in the Bio-economy:…, 68 (+7 more)
Related
- Analyzing bio-economy value requires focusing on assets rather than commodities (similarity 0.88)
- Understanding value requires studying the assets underpinning firm valuation, not commodity production. (similarity 0.88)
- Value in the bio-economy is produced through valuation practices, not intrinsic to biological matter. (similarity 0.87)
- Value is not inherent in things but achieved through capitalization practices. (similarity 0.86)
- Value in the bio-economy is better theorized through assetization than commodification. (similarity 0.85)
- Asset value is constituted by active management within organizations, not by biological properties. (similarity 0.85)
- Value in the bio-economy is managed through asset governance, not product sales. (similarity 0.84)
- Bio-economy valuation practices are not peculiar to that sector. (similarity 0.83)
- Value is constituted by knowledge and practice, not merely hype. (similarity 0.83)
- Asset value is actively managed, including downward, and its constructedness is obscured. (similarity 0.83)
- An asset is property yielding an income stream, unlike a commodity for sale. (similarity 0.83)
- Understanding value as assetization requires analyzing political economy, not just applying STS to finance. (similarity 0.83)
- In the bioeconomy, informational signaling about assets, not product sales, constitutes firm value. (similarity 0.82)
- Assetization constitutes a distinct logic of investment irreducible to speculation or rentiership (similarity 0.82)
- Accounting for biological assets reflects chosen methods, not intrinsic biological qualities (similarity 0.82)
Broader Connections
- Financial asset prices reflect speculative circulation, not underlying real value
#corroborates(0.85) — Max Haiven, Cultures of Financialization, 80 - Stock valuation discounts future dividends because present money earns interest.
#expands(0.85) — Donald MacKenzie, An Engine, Not a Camera, 205 - Two dominant frames treat financial wealth as either real value or pure illusion
#corroborates(0.80) — Max Haiven, Cultures of Financialization, 41 - Efficient-market theory still assumed securities had intrinsic value rooted in corporate fundamentals
#complicates(0.75) — Donald MacKenzie, An Engine, Not a Camera, 342