The relationship between innovation disclosures and information asymmetry in brazil
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Data de Publicação: | 2022 |
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Tipo de documento: | Artigo |
Idioma: | por |
Título da fonte: | Future Studies Research Journal: Trends and Strategies |
Texto Completo: | https://www.revistafuture.org/FSRJ/article/view/489 |
Resumo: | Objective: The study sought to analyze the innovation disclosure strategies carried out by publicly traded Brazilian companies and verify their impacts on information asymmetry. Method: Innovation disclosure strategies were analyzed through 71 annual reports issued by Brazilian companies traded on B3, identifying six categories of analysis: Strategy focused on innovation, Innovation goals, Alliances made, Financial planning, Innovation results and Awards obtained. The relationship between the categories and information asymmetry was analyzed using structural equation modeling. Main results: The results indicated that disclosures about innovations strategies, alliances made, financial planning and the awards obtained can reduce information asymmetry. Relevance/originality: Previous studies seek to analyze the dissemination of information, and do not specifically address innovation. However, even if such disclosures are permeated by secrecy, they may be reflected in the trading of assets. Theoretical/methodological contributions: The study stands out for presenting a model for analyzing the quality of innovation dissemination, allowing the evaluation of the extent of information. In contrast, previous studies seek to assess the volume of information disclosed. Furthermore, it draws a direct relationship on information asymmetry. |
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The relationship between innovation disclosures and information asymmetry in brazilA relação entre a divulgação de inovação e assimetria de informação no BrasilDivulgação da inovaçãoAssimetria de informaçãoProbabilidade de negociação informadaModelagem de equações estruturaisInnovation disclosureInformation asymmetryProbability of Informed TradingStructural equation modelingObjective: The study sought to analyze the innovation disclosure strategies carried out by publicly traded Brazilian companies and verify their impacts on information asymmetry. Method: Innovation disclosure strategies were analyzed through 71 annual reports issued by Brazilian companies traded on B3, identifying six categories of analysis: Strategy focused on innovation, Innovation goals, Alliances made, Financial planning, Innovation results and Awards obtained. The relationship between the categories and information asymmetry was analyzed using structural equation modeling. Main results: The results indicated that disclosures about innovations strategies, alliances made, financial planning and the awards obtained can reduce information asymmetry. Relevance/originality: Previous studies seek to analyze the dissemination of information, and do not specifically address innovation. However, even if such disclosures are permeated by secrecy, they may be reflected in the trading of assets. Theoretical/methodological contributions: The study stands out for presenting a model for analyzing the quality of innovation dissemination, allowing the evaluation of the extent of information. In contrast, previous studies seek to assess the volume of information disclosed. Furthermore, it draws a direct relationship on information asymmetry.Objetivo: O estudo buscou analisar as estratégias de divulgação da inovação realizada pelas companhias brasileiras de capital aberto e verificar seus impactos sobre a assimetria de informação. Método: As estratégias de divulgação da inovação foram analisadas através de 71 relatórios anuais emitidos por companhias brasileiras negociadas na B3, identificando-se seis categorias de análise: Estratégia focada em inovação, Objetivos da inovação, Alianças realizadas, Planejamento financeiro, Resultados da inovação e Prêmios obtidos. A relação entre as categorias e a assimetria de informação foi analisada por meio de modelagem de equações estruturais. Principais resultados: Os resultados indicaram que as divulgações sobre estratégias referentes às inovações, alianças realizadas, planejamento financeiro e os prêmios obtidos podem reduzir a assimetria de informação. Relevância/originalidade: Estudo anteriores buscam analisar a divulgação da informação, e não tratam especificamente, da inovação. Contudo, ainda que tais divulgações sejam permeadas por um sigilo, elas podem serem refletidas na negociação dos ativos. Contribuições teóricas/metodológicas: O estudo se destaca ao apresentar um modelo para análise da qualidade da divulgação da inovação, permitindo avaliar a extensão das informações. Diferentemente, estudos anteriores procuram avaliar o volume de informações divulgadas. Ademais, traça uma relação direta sobre a assimetria de informação Future Studies Research Journal: Trends and Strategies2022-01-01info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionPeer-reviewed Articleapplication/pdfhttps://www.revistafuture.org/FSRJ/article/view/48910.24023/FutureJournal/2175-5825/2022.v14i1.489Future Studies Research Journal: Trends and Strategies; Vol. 14 No. 1 (2022): Janeiro - Dezembro; e0489Future Studies Research Journal: Trends and Strategies [FSRJ]; v. 14 n. 1 (2022): Janeiro - Dezembro; e04892175-5825reponame:Future Studies Research Journal: Trends and Strategiesinstname:Fundação Instituto de Administração (FIA)instacron:FIAporhttps://www.revistafuture.org/FSRJ/article/view/489/504Copyright (c) 2022 Future Studies Research Journal: Trends and Strategieshttps://creativecommons.org/licenses/by-nc/4.0info:eu-repo/semantics/openAccessVasconcelos, Renata Braga Berenguer deSantos, Joséte Florencio dos2023-08-05T05:38:48Zoai:ojs.future.emnuvens.com.br:article/489Revistahttps://www.revistafuture.org/FSRJ/oai2175-58252175-5825opendoar:2023-08-05T05:38:48Future Studies Research Journal: Trends and Strategies - Fundação Instituto de Administração (FIA)false |
dc.title.none.fl_str_mv |
The relationship between innovation disclosures and information asymmetry in brazil A relação entre a divulgação de inovação e assimetria de informação no Brasil |
title |
The relationship between innovation disclosures and information asymmetry in brazil |
spellingShingle |
The relationship between innovation disclosures and information asymmetry in brazil Vasconcelos, Renata Braga Berenguer de Divulgação da inovação Assimetria de informação Probabilidade de negociação informada Modelagem de equações estruturais Innovation disclosure Information asymmetry Probability of Informed Trading Structural equation modeling |
title_short |
The relationship between innovation disclosures and information asymmetry in brazil |
title_full |
The relationship between innovation disclosures and information asymmetry in brazil |
title_fullStr |
The relationship between innovation disclosures and information asymmetry in brazil |
title_full_unstemmed |
The relationship between innovation disclosures and information asymmetry in brazil |
title_sort |
The relationship between innovation disclosures and information asymmetry in brazil |
author |
Vasconcelos, Renata Braga Berenguer de |
author_facet |
Vasconcelos, Renata Braga Berenguer de Santos, Joséte Florencio dos |
author_role |
author |
author2 |
Santos, Joséte Florencio dos |
author2_role |
author |
dc.contributor.author.fl_str_mv |
Vasconcelos, Renata Braga Berenguer de Santos, Joséte Florencio dos |
dc.subject.por.fl_str_mv |
Divulgação da inovação Assimetria de informação Probabilidade de negociação informada Modelagem de equações estruturais Innovation disclosure Information asymmetry Probability of Informed Trading Structural equation modeling |
topic |
Divulgação da inovação Assimetria de informação Probabilidade de negociação informada Modelagem de equações estruturais Innovation disclosure Information asymmetry Probability of Informed Trading Structural equation modeling |
description |
Objective: The study sought to analyze the innovation disclosure strategies carried out by publicly traded Brazilian companies and verify their impacts on information asymmetry. Method: Innovation disclosure strategies were analyzed through 71 annual reports issued by Brazilian companies traded on B3, identifying six categories of analysis: Strategy focused on innovation, Innovation goals, Alliances made, Financial planning, Innovation results and Awards obtained. The relationship between the categories and information asymmetry was analyzed using structural equation modeling. Main results: The results indicated that disclosures about innovations strategies, alliances made, financial planning and the awards obtained can reduce information asymmetry. Relevance/originality: Previous studies seek to analyze the dissemination of information, and do not specifically address innovation. However, even if such disclosures are permeated by secrecy, they may be reflected in the trading of assets. Theoretical/methodological contributions: The study stands out for presenting a model for analyzing the quality of innovation dissemination, allowing the evaluation of the extent of information. In contrast, previous studies seek to assess the volume of information disclosed. Furthermore, it draws a direct relationship on information asymmetry. |
publishDate |
2022 |
dc.date.none.fl_str_mv |
2022-01-01 |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
https://www.revistafuture.org/FSRJ/article/view/489 10.24023/FutureJournal/2175-5825/2022.v14i1.489 |
url |
https://www.revistafuture.org/FSRJ/article/view/489 |
identifier_str_mv |
10.24023/FutureJournal/2175-5825/2022.v14i1.489 |
dc.language.iso.fl_str_mv |
por |
language |
por |
dc.relation.none.fl_str_mv |
https://www.revistafuture.org/FSRJ/article/view/489/504 |
dc.rights.driver.fl_str_mv |
Copyright (c) 2022 Future Studies Research Journal: Trends and Strategies https://creativecommons.org/licenses/by-nc/4.0 info:eu-repo/semantics/openAccess |
rights_invalid_str_mv |
Copyright (c) 2022 Future Studies Research Journal: Trends and Strategies https://creativecommons.org/licenses/by-nc/4.0 |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
Future Studies Research Journal: Trends and Strategies |
publisher.none.fl_str_mv |
Future Studies Research Journal: Trends and Strategies |
dc.source.none.fl_str_mv |
Future Studies Research Journal: Trends and Strategies; Vol. 14 No. 1 (2022): Janeiro - Dezembro; e0489 Future Studies Research Journal: Trends and Strategies [FSRJ]; v. 14 n. 1 (2022): Janeiro - Dezembro; e0489 2175-5825 reponame:Future Studies Research Journal: Trends and Strategies instname:Fundação Instituto de Administração (FIA) instacron:FIA |
instname_str |
Fundação Instituto de Administração (FIA) |
instacron_str |
FIA |
institution |
FIA |
reponame_str |
Future Studies Research Journal: Trends and Strategies |
collection |
Future Studies Research Journal: Trends and Strategies |
repository.name.fl_str_mv |
Future Studies Research Journal: Trends and Strategies - Fundação Instituto de Administração (FIA) |
repository.mail.fl_str_mv |
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1808843615626067968 |