Abstract
We look at innovation returns in two groups of companies set in Brazil. One group includes innovative companies, referred as 3i’s companies (Innoscence Innovation Index) and listed in the Stock Exchange Values of São Paulo – BOVESPA. The other group is referred as Not 3i’s companies, also listed in Sao Paulo’s BOVESPA. We first did a descriptive and then a regression analysis of performance indicators - net margin, asset profitability, return on equity and on invested capital, with data from companies classified as 3i’s and Not 3i’s in Economatica Report, limited to the period of 2009 to 2013. Results indicate that significant correlation appears between innovation and invested capital (ROI) returns on equity and on assets, as well, for 3i’s companies, as hypothetically projected. Net margin, however, is lower for 3i’s, than for Not 3i’s companies showing that restrained gains in 3i’s companies may be due to higher costs of internal innovation.
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