A inovação no Brasil proporciona retornos financeiros? Um estudo sobre as empresas listadas na Bovespa
The present study aims to verify if the most innovative companies have a superior financial performance to the less innovative companies and to verify if the innovative resources provide persistent performance over time. The companies listed on the Bovespa were selected from the Innoscience 3i ranki...
| Main Authors: | , , |
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| Format: | Article |
| Language: | Portuguese |
| Published: |
Universidade Nove de Julho
2017-01-01
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| Series: | Exacta |
| Online Access: | http://www.redalyc.org/articulo.oa?id=81054651007 |
| Summary: | The present study aims to verify if the most innovative companies have a superior financial performance to the less innovative companies and to verify if the innovative resources provide persistent performance over time. The companies listed on the Bovespa were selected from the Innoscience 3i ranking in the period from March 2009 to March 2016. Through regression with panel data, based on the Villalonga (2004) model, the study identified that the most innovative companies of the sample have statistically higher returns on investments than less innovative firms. The results found reinforced the studies of Joode (2011), Adcock et al. (2014) and Carmona et al. (2016), demonstrating the relevance of investments in innovation in the return of the most innovative companies. However, there was no persistence of the innovation element over time in the return of most innovative companies, nor of the tangibility element in the return of less innovative companies. |
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| ISSN: | 1678-5428 1983-9308 |