TY - JOUR
T1 - On the "essential condition" of intellectual capital: labour!
AU - O'Donnell, David
AU - Tracey, Mairead
AU - Henriksen, Lars Bo
AU - Bontis, Nick
AU - Cleary, Peter
AU - Kennedy, Tom
AU - O'Regan, Philip
PY - 2006
Y1 - 2006
N2 - Following Marx and Engels' identification of the "essential condition of capital", the purpose of this paper is to begin an initial critical exploration of the essential condition of intellectual capital, particularly the ownership rights of labor. Adopting a critically modernist stance on unitarist HR and OB discourse, and contextualized within a background on the stock option phenomenon and recent accounting regulation, the paper argues that the fundamental nature of capital-labor relation continues resiliently into the IC labor (intellectual capital-labor) relation. There is strong evidence that broad-based employee stock options have become institutionalized in certain firms and sectors -- but the future of such schemes is very uncertain. Overly unitarist HR/OB arguments are challenged here with empirical evidence on capital's more latently strategic purposes such as conserving cash, reducing reported accounting expense in order to boost reported earnings, deferring taxes, and attracting, retaining and exploiting key elements of labor.
AB - Following Marx and Engels' identification of the "essential condition of capital", the purpose of this paper is to begin an initial critical exploration of the essential condition of intellectual capital, particularly the ownership rights of labor. Adopting a critically modernist stance on unitarist HR and OB discourse, and contextualized within a background on the stock option phenomenon and recent accounting regulation, the paper argues that the fundamental nature of capital-labor relation continues resiliently into the IC labor (intellectual capital-labor) relation. There is strong evidence that broad-based employee stock options have become institutionalized in certain firms and sectors -- but the future of such schemes is very uncertain. Overly unitarist HR/OB arguments are challenged here with empirical evidence on capital's more latently strategic purposes such as conserving cash, reducing reported accounting expense in order to boost reported earnings, deferring taxes, and attracting, retaining and exploiting key elements of labor.
KW - Intellectual capital
KW - Stock options
KW - Labour
M3 - Journal article
SN - 1469-1930
VL - 7
SP - 111
EP - 128
JO - Journal of Intellectual Capital
JF - Journal of Intellectual Capital
IS - 1
ER -