IDEAS home Printed from https://ideas.repec.org/a/eee/jbrese/v67y2014i4p527-535.html
   My bibliography  Save this article

Innovation efforts and performances of Brazilian firms

Author

Listed:
  • Santos, David Ferreira Lopes
  • Basso, Leonardo Fernando Cruz
  • Kimura, Herbert
  • Kayo, Eduardo Kazuo

Abstract

We analyze the relationship between innovation and firms' performance in Brazil using a comprehensive database that cross-references innovation information by PINTEC (Technological Innovation Research) of the IBGE (Brazilian Institute of Geography and Statistics) and financial information from Serasa and Gazeta Mercantil. Results from the structural equation modeling suggest that variables associating with investments in innovation, which are connected to the innovative effort of a company, do not explain financial performance significantly.

Suggested Citation

  • Santos, David Ferreira Lopes & Basso, Leonardo Fernando Cruz & Kimura, Herbert & Kayo, Eduardo Kazuo, 2014. "Innovation efforts and performances of Brazilian firms," Journal of Business Research, Elsevier, vol. 67(4), pages 527-535.
    • Handle: RePEc:eee:jbrese:v:67:y:2014:i:4:p:527-535
    DOI: 10.1016/j.jbusres.2013.11.009
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0148296313003688
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.jbusres.2013.11.009?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Bronwyn Hall & Alessandro Maffioli, 2008. "Evaluating the impact of technology development funds in emerging economies: evidence from Latin America," The European Journal of Development Research, Taylor and Francis Journals, vol. 20(2), pages 172-198.
    2. David J. TEECE, 2008. "Profiting from technological innovation: Implications for integration, collaboration, licensing and public policy," World Scientific Book Chapters, in: The Transfer And Licensing Of Know-How And Intellectual Property Understanding the Multinational Enterprise in the Modern World, chapter 5, pages 67-87, World Scientific Publishing Co. Pte. Ltd..
    3. Cheng, Cheng-Feng & Chang, Man-Ling & Li, Chu-Shiu, 2013. "Configural paths to successful product innovation," Journal of Business Research, Elsevier, vol. 66(12), pages 2561-2573.
    4. repec:fth:harver:1473 is not listed on IDEAS
    5. Franco Malerba, 2006. "Innovation and the evolution of industries," Journal of Evolutionary Economics, Springer, vol. 16(1), pages 3-23, April.
    6. Julio Raffo & Stephane Lhuillery & Luis Miotti, 2008. "Northern and southern innovativity: a comparison across European and Latin American countries," The European Journal of Development Research, Taylor and Francis Journals, vol. 20(2), pages 219-239.
    7. Crespi, Gustavo & Zuniga, Pluvia, 2012. "Innovation and Productivity: Evidence from Six Latin American Countries," World Development, Elsevier, vol. 40(2), pages 273-290.
    8. Ko, Krista K.B. & To, Chester K.M. & Zhang, Z.M. & Ngai, Eric W.T. & Chan, Theresa L.K., 2011. "Analytic collaboration in virtual innovation projects," Journal of Business Research, Elsevier, vol. 64(12), pages 1327-1334.
    9. Liao, Tung-Shan & Rice, John, 2010. "Innovation investments, market engagement and financial performance: A study among Australian manufacturing SMEs," Research Policy, Elsevier, vol. 39(1), pages 117-125, February.
    10. Jiménez-Jiménez, Daniel & Sanz-Valle, Raquel, 2011. "Innovation, organizational learning, and performance," Journal of Business Research, Elsevier, vol. 64(4), pages 408-417, April.
    11. Wu, Jie, 2011. "Asymmetric roles of business ties and political ties in product innovation," Journal of Business Research, Elsevier, vol. 64(11), pages 1151-1156.
    12. Aija Leiponen, 2002. "Why Do Firms Not Collaborate? The Role of Competencies and Technological Regimes," Palgrave Macmillan Books, in: Alfred Kleinknecht & Pierre Mohnen (ed.), Innovation and Firm Performance, chapter 11, pages 253-277, Palgrave Macmillan.
    13. Hariolf Grupp, 1998. "Foundations of the Economics of Innovation," Books, Edward Elgar Publishing, number 1390.
    14. Albert Guangzhou Hu, 2003. "R&D organization, monitoring intensity, and innovation performance in chinese industry," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 12(2), pages 117-144.
    15. Paul Diederen & Hans Meijl & Arjan Wolters, 2002. "Innovation and Farm Performance: The Case of Dutch Agriculture," Palgrave Macmillan Books, in: Alfred Kleinknecht & Pierre Mohnen (ed.), Innovation and Firm Performance, chapter 4, pages 73-85, Palgrave Macmillan.
    16. Emmanuel Duguet, 2006. "Innovation height, spillovers and tfp growth at the firm level: Evidence from French manufacturing," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 15(4-5), pages 415-442.
    17. Raymond Vernon, 1966. "International Investment and International Trade in the Product Cycle," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 80(2), pages 190-207.
    18. Xu, Bixia, 2009. "R&D innovation and the value of cash in the biotech industry," Journal of Business Research, Elsevier, vol. 62(7), pages 750-755, July.
    19. Paul Geroski & John Reenen & Chris Walters, 2002. "Innovations, Patents and Cash Flow," Palgrave Macmillan Books, in: Alfred Kleinknecht & Pierre Mohnen (ed.), Innovation and Firm Performance, chapter 2, pages 31-55, Palgrave Macmillan.
    20. Hausman, Angela & Stock, James R., 2003. "Adoption and implementation of technological innovations within long-term relationships," Journal of Business Research, Elsevier, vol. 56(8), pages 681-686, August.
    21. Alexandre Cabagnols & Christian Bas, 2002. "Differences in the Determinants of Product and Process Innovations: The French Case," Palgrave Macmillan Books, in: Alfred Kleinknecht & Pierre Mohnen (ed.), Innovation and Firm Performance, chapter 6, pages 112-149, Palgrave Macmillan.
    22. Matsuo, Makoto, 2006. "Customer orientation, conflict, and innovativeness in Japanese sales departments," Journal of Business Research, Elsevier, vol. 59(2), pages 242-250, February.
    23. Pakes, Ariel, 1985. "On Patents, R&D, and the Stock Market Rate of Return," Journal of Political Economy, University of Chicago Press, vol. 93(2), pages 390-409, April.
    24. Weerawardena, Jay & O'Cass, Aron & Julian, Craig, 2006. "Does industry matter? Examining the role of industry structure and organizational learning in innovation and brand performance," Journal of Business Research, Elsevier, vol. 59(1), pages 37-45, January.
    25. Bowen, Frances E. & Rostami, Mahdi & Steel, Piers, 2010. "Timing is everything: A meta-analysis of the relationships between organizational performance and innovation," Journal of Business Research, Elsevier, vol. 63(11), pages 1179-1185, November.
    26. Nathalie Greenan & Emmanuel Duguet, 1997. "Le biais technologique : une analyse économétrique sur données individuelles," Revue Économique, Programme National Persée, vol. 48(5), pages 1061-1089.
    27. Chen, Chung-Jen & Huang, Yi-Fen, 2010. "Creative workforce density, organizational slack, and innovation performance," Journal of Business Research, Elsevier, vol. 63(4), pages 411-417, April.
    28. Bronwyn Hall & Alessandro Maffioli, 2008. "Evaluating the impact of technology development funds in emerging economies: evidence from Latin America," The European Journal of Development Research, Taylor and Francis Journals, vol. 20(2), pages 172-198.
    29. Holmen, Elsebeth & Pedersen, Ann-Charlott & Torvatn, Tim, 2005. "Building relationships for technological innovation," Journal of Business Research, Elsevier, vol. 58(9), pages 1240-1250, September.
    30. Simon Feeny & Mark Rogers, 2003. "Innovation and Performance: Benchmarking Australian Firms," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 36(3), pages 253-264, September.
    31. Zvi Griliches, 1998. "Patent Statistics as Economic Indicators: A Survey," NBER Chapters, in: R&D and Productivity: The Econometric Evidence, pages 287-343, National Bureau of Economic Research, Inc.
    32. Jeroen Hinloopen, 2003. "Innovation performance across Europe," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 12(2), pages 145-161.
    33. Brian Cozzarin, 2004. "Innovation quality and manufacturing firms' performance in Canada," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 13(3), pages 199-216.
    34. Nelson, Richard R & Winter, Sidney G, 1974. "Neoclassical vs. Evolutionary Theories of Economic Growth: Critique and Prospectus," Economic Journal, Royal Economic Society, vol. 84(336), pages 886-905, December.
    35. Giulio Cainelli & Rinaldo Evangelista & Maria Savona, 2004. "The impact of innovation on economic performance in services ?," Post-Print hal-00278629, HAL.
    36. Dosi, Giovanni & Nelson, Richard R, 1994. "An Introduction to Evolutionary Theories in Economics," Journal of Evolutionary Economics, Springer, vol. 4(3), pages 153-172, September.
    37. Giulio Cainelli & Rinaldo Evangelista & Maria Savona, 2004. "The impact of innovation on economic performance in services," The Service Industries Journal, Taylor & Francis Journals, vol. 24(1), pages 116-130, January.
    38. Nelson, Richard R & Winter, Sidney G, 1982. "The Schumpeterian Tradeoff Revisited," American Economic Review, American Economic Association, vol. 72(1), pages 114-132, March.
    39. John Baldwin & Petr Hanel & David Sabourin, 2002. "Determinants of Innovative Activity in Canadian Manufacturing Firms," Palgrave Macmillan Books, in: Alfred Kleinknecht & Pierre Mohnen (ed.), Innovation and Firm Performance, chapter 5, pages 86-111, Palgrave Macmillan.
    40. Ngo, Liem Viet & O'Cass, Aron, 2013. "Innovation and business success: The mediating role of customer participation," Journal of Business Research, Elsevier, vol. 66(8), pages 1134-1142.
    41. Olavarrieta, Sergio & Friedmann, Roberto, 2008. "Market orientation, knowledge-related resources and firm performance," Journal of Business Research, Elsevier, vol. 61(6), pages 623-630, June.
    42. Alfred Kleinknecht & Pierre Mohnen (ed.), 2002. "Innovation and Firm Performance," Palgrave Macmillan Books, Palgrave Macmillan, number 978-0-230-59588-0.
    43. Rodolphe Durand, 1999. "The relative contributions of inimitable, non transferable and non substitutable resources to profitability and market performance," Post-Print hal-00701953, HAL.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Mairesse, Jacques & Mohnen, Pierre, 2010. "Using Innovation Surveys for Econometric Analysis," Handbook of the Economics of Innovation, in: Bronwyn H. Hall & Nathan Rosenberg (ed.), Handbook of the Economics of Innovation, edition 1, volume 2, chapter 0, pages 1129-1155, Elsevier.
    2. Wadho, Waqar & Chaudhry, Azam, 2020. "Innovation Strategies and Productivity Growth in Developing Countries: Evidence from Pakistan," GLO Discussion Paper Series 466, Global Labor Organization (GLO).
    3. Carmen González-Velasco & Marcos González-Fernández & José-Luis Fanjul-Suárez, 2019. "Does innovative effort matter for corporate performance in Spanish companies in a context of financial crisis? A fuzzy-set QCA approach," Empirical Economics, Springer, vol. 56(5), pages 1707-1727, May.
    4. González-Fernández, Marcos & González-Velasco, Carmen, 2018. "Innovation and corporate performance in the Spanish regions," Journal of Policy Modeling, Elsevier, vol. 40(5), pages 998-1021.
    5. Frank, Alejandro Germán & Gerstlberger, Wolfgang & Paslauski, Carolline Amaral & Lerman, Laura Visintainer & Ayala, Néstor Fabián, 2018. "The contribution of innovation policy criteria to the development of local renewable energy systems," Energy Policy, Elsevier, vol. 115(C), pages 353-365.
    6. Andrew Copus & Dimitris Skuras & Kyriaki Tsegenidi, 2006. "Innovation and Peripherality: A Comparative Study in Six EU Member Countries," ERSA conference papers ersa06p295, European Regional Science Association.
    7. Isabel Freitas & Tommy Clausen & Roberto Fontana & Bart Verspagen, 2011. "Formal and informal external linkages and firms’ innovative strategies. A cross-country comparison," Journal of Evolutionary Economics, Springer, vol. 21(1), pages 91-119, February.
    8. Messaoud Zouikri & Mounir Amdaoud, 2018. "Compétences externes et innovation: le cas des firmes de l'industrie manufacturière algérienne," EconomiX Working Papers 2018-37, University of Paris Nanterre, EconomiX.
    9. Wadho, Waqar & Chaudhry, Azam, 2022. "Innovation strategies and productivity growth in developing countries: Firm-level evidence from Pakistani manufacturers," Journal of Asian Economics, Elsevier, vol. 81(C).
    10. Marlenne G. Velazquez-Cazares & Anna M. Gil-Lafuente & Ernesto Leon-Castro & Fabio Blanco-Mesa, 2021. "Innovation capabilities measurement using fuzzy methodologies: a Colombian SMEs case," Computational and Mathematical Organization Theory, Springer, vol. 27(4), pages 384-413, December.
    11. Wittkopp, Antje, 2002. "Marktstruktur, Innovationsaktivität und Profitabilität der deutschen Ernährungswirtschaft: Das Beispiel Functional Food," FE Working Papers 0205, Christian-Albrechts-University of Kiel, Department of Food Economics and Consumption Studies.
    12. Santos, David Ferreira Lopes & Basso, Leonardo Fernando Cruz & Kimura, Herbert, 2018. "The trajectory of the ability to innovate and the financial performance of the Brazilian industry," Technological Forecasting and Social Change, Elsevier, vol. 127(C), pages 258-270.
    13. Hannu Littunen & Timo Tohmo & Esa Storhammar, 2021. "Innovation among SMEs in Finland: The impact of stakeholder engagement and firm-level characteristics," Journal of Entrepreneurship, Management and Innovation, Fundacja Upowszechniająca Wiedzę i Naukę "Cognitione", vol. 17(4), pages 157-196.
    14. Marco Túlio Dinali Viglioni & Mozar José Brito & Cristina Lelis Leal Calegario, 2020. "Innovation and R&D in Latin America and the Caribbean countries: a systematic literature review," Scientometrics, Springer;Akadémiai Kiadó, vol. 125(3), pages 2131-2167, December.
    15. Srinivas Kolluru & Pundarik Mukhopadhaya, 2017. "Empirical Studies on Innovation Performance in the Manufacturing and Service Sectors Since 1995: A Systematic Review," Economic Papers, The Economic Society of Australia, vol. 36(2), pages 223-248, June.
    16. Wadho, Waqar & Chaudhry, Azam, 2018. "Innovation and firm performance in developing countries: The case of Pakistani textile and apparel manufacturers," Research Policy, Elsevier, vol. 47(7), pages 1283-1294.
    17. Emma L. Hitchen & Petra A. Nylund & Eric Viardot, 2017. "The Effectiveness Of Open Innovation: Do Size And Performance Of Open Innovation Groups Matter?," International Journal of Innovation Management (ijim), World Scientific Publishing Co. Pte. Ltd., vol. 21(03), pages 1-24, April.
    18. Paul H. Jensen & Elizabeth Webster, 2004. "Examining Biases in Measures of Firm Innovation," Melbourne Institute Working Paper Series wp2004n10, Melbourne Institute of Applied Economic and Social Research, The University of Melbourne.
    19. Falciola, Justine & Jansen, Marion & Rollo, Valentina, 2020. "Defining firm competitiveness: A multidimensional framework," World Development, Elsevier, vol. 129(C).
    20. Crespi, Gustavo & Zuniga, Pluvia, 2012. "Innovation and Productivity: Evidence from Six Latin American Countries," World Development, Elsevier, vol. 40(2), pages 273-290.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:jbrese:v:67:y:2014:i:4:p:527-535. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/jbusres .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.