Intangibility, internationalization and performance: an analysis for Brazilian companies

• Autor(a) principal: Sant Ana, Renata Pereira de
• Data de Publicação: 2022
• Outros Autores: Carvalho, Luciana, Ribeiro, Kárem Cristina de Sousa
• Tipo de documento: Artigo
• Idioma: por
• Título da fonte: Internext
• Texto Completo: https://internext.espm.br/internext/article/view/674
• topic: Intangibilidade. Internacionalização. Exportação. Desempenho.; Finance

Objective: To investigate the effect of intangibility on the performance of exporting and non-exporting companies in Brazil. Method: Financial and accounting data from publicly traded companies listed in Brasil, Bolsa e Balcão (B3) and published in the Thomson database and in the Ministry of Industry, Foreign Trade and Services database, in the period of 2014 to 2019, were used. As an econometric model, panel data regression models were estimated. Main Results: The results suggest a significant and negative relationship between intangible assets and the ROA and the ROE for exporting companies. As for the degree of intangibility, there was a negative significance only with the ROE. For the group of non-exporting companies, there was no significance. Thus, it was found that when exporting companies increase their investment rate in intangibles and their degree of intangibility, their profitability decreases. Relevance / Originality: This research is relevant since the studies on the theme are inconclusive. Theoretical / Methodological Contributions: The work intended to bring academic assistance by analyzing the intangibility-performance relationship for exporting and non-exporting companies in Brazil. Social / Management Contributions: With this study, we intended to assist the managers of Brazilian exporting companies in investment decisions in intangible assets and in strategies of competitiveness in the international markets.