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Abstract(s)
Este estudo tem como objetivo investigar o impacto da inovação na performance financeira das PME Líder e PME Excelência do setor do Comércio por Grosso, abrangendo 1846 empresas entre 2012 e 2022. A inovação foi medida pela intensidade dos ativos intangíveis, e a performance financeira, através do ROA. O estudo utilizou a metodologia de dados em painel de efeitos fixos e analisou variáveis como a dimensão da empresa, grau de internacionalização, idade, pertença a um grupo económico e endividamento.
Os resultados revelam uma relação complexa e não linear entre inovação e performance financeira, com um padrão de "U invertido" em muitos casos. Nas PME Líder, a inovação tem um impacto positivo nas empresas maiores, não exportadoras e que não pertencem a grupos económicos. Já nas PME Excelência, as empresas de menor dimensão e exportadoras mostram um impacto negativo da inovação, devido a pressões de custos e restrições de recursos.
Os resultados sugerem que o sucesso das iniciativas de inovação depende da capacidade de equilibrar os investimentos inovadores com a estrutura e contexto da empresa. Este estudo contribui para a literatura ao destacar a importância de um equilíbrio estratégico na gestão da inovação e oferece insights práticos para os gestores das PME, mostrando que a inovação, quando bem gerida, pode ser uma ferramenta fundamental para a competitividade e crescimento sustentável no longo prazo.
The object of this study is investigating the impact of the financial performance’s innovation in the SME’s Lider and SME’s Excellence in the wholesale trade, in a total of 1846 enterprises between 2012 and 2022. The innovation was measured by the intensity of the immaterial assets and the financial performance through ROA. The study was supported by the fixed effects of the panel data and analyzed variables such as the dimension of the company, the degree of internationalization, the age, member shipping in a group and its indebtedness. The results indicate a complex relation and not linear between innovation and financial performance with an “U inverted” pattern in many cases. In the SME’s Lider, the innovation has a positive impact in the biggest companies, that don’t export and not belong to economic groups. On the other hand, on the SME’s Excellence, the small dimension non-exporting companies reveal a negative impact of innovation, due to cost pressures and resource constrains. The results indicate that the success of the innovation initiatives depends on the ability of balancing innovation researchers with the structure and context of the company. This study contributes to the literature by highlighting the importance of the strategic balance in the management of the SME’s, showing that the innovation, when well managed can be an essential tool to the competitivity and to a long-term sustainable growth.
The object of this study is investigating the impact of the financial performance’s innovation in the SME’s Lider and SME’s Excellence in the wholesale trade, in a total of 1846 enterprises between 2012 and 2022. The innovation was measured by the intensity of the immaterial assets and the financial performance through ROA. The study was supported by the fixed effects of the panel data and analyzed variables such as the dimension of the company, the degree of internationalization, the age, member shipping in a group and its indebtedness. The results indicate a complex relation and not linear between innovation and financial performance with an “U inverted” pattern in many cases. In the SME’s Lider, the innovation has a positive impact in the biggest companies, that don’t export and not belong to economic groups. On the other hand, on the SME’s Excellence, the small dimension non-exporting companies reveal a negative impact of innovation, due to cost pressures and resource constrains. The results indicate that the success of the innovation initiatives depends on the ability of balancing innovation researchers with the structure and context of the company. This study contributes to the literature by highlighting the importance of the strategic balance in the management of the SME’s, showing that the innovation, when well managed can be an essential tool to the competitivity and to a long-term sustainable growth.
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Keywords
Inovação Performance financeira PME líder PME excelência U invertido Financial performance SME lider U inverted SME excellence