Innovation, financial performance and value creation: an analysis of Brazilian agribusiness companies
DOI:
https://doi.org/10.6008/CBPC2179-684X.2021.002.0026Keywords:
Agribusiness, Innovation Management, Investment, Corporate IncomeAbstract
Understand the effects of innovation on organizational performance is a major theoretical challenges in this area; also, the business practice lacks management models of the innovation process-oriented strategy. Recent empirical research to the Brazilian reality report difficulty in pointing out the effects of innovation on business results. This study examined the influence of investment in innovation in the financial and economic performance of the leading companies in the Brazilian capital market that integrate agribusiness chains for the period 2010-2013 through regression with panel data. The sample tallied 41 companies whose information relating to spending on innovation were achieved through disclousure the financial statements. The results reported that companies in the agribusiness in Brazil invest more in innovation than the national average and that spending on innovative nature activities have a positive and significant impact on economic and financial performance of companies. These results confirm the importance of innovation to the competitiveness of the most prominent sector in Brazil and provides a different perspective of the relationship between innovation and performance against other empirical research in the country.
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