THE RELATIONSHIP BETWEEN TECHNOLOGICAL INTENSITY AND INTANGIBILITY DEGREE IN FINANCIAL PERFORMANCE OF BRAZILIAN INDUSTRY

Abstract

This study aimed to verify the influence of technological intensity in the relationship between the intangibility degree and economic-financial performance in the Brazilian industry. Therefore, we used the classification of Organization for Economic Cooperation and Development (OECD). The sample involved Brazilian companies listed on the BM&FBovespa from 2011 to 2015. The statistical technique relied on panel data with fixed and random effects, as Hausman test. Regarding the variables, to translate the intangible dimension of organizations, intangibility degree was used as the dependent variable, while return on assets (ROA), return on equity (ROE) and return were used as independent variables representing economic-financial performance. The results revealed that there is no significant difference in the intangibility-performance ratio among sectors with high and medium-high technological intensity and low and medium-low technology. Furthermore, it was observed that the Intangibility degree does not exert significant influence on indicators such as ROA, ROE, and Return for the sample and period investigated.