Return on investing in innovative activities: the brazilian manufacturing industry




innovation, investment, technological innovation


Objective of the study: This study analyses the relationship between innovation investment and the number of firms that innovate in various sectors of the Brazilian manufacturing industry.

Methodology/approach: The estimated multiple linear regression model with panel data based on triennial investments covering 1998–2017 was considered.

Originality/Relevance: This study indicates that investment in R&D, both internal and external, does not influence the number of companies that have implemented certain types of innovation.

Main results: Investment in training and machinery/equipment acquisition showed a positive and significant relationship with the number of companies implementing some type of innovation in the analyzed sector.

Theoretical/methodological contributions: These findings contribute to better management of resources spent on innovation activities while filling a theoretical gap in the impacts of different innovative activities, considering the Brazilian manufacturing industry.

Social/management contributions: The return on innovation investment is uncertain in the organizational context. Understanding the return on investment in innovation activities contributes to decision-making regarding resource allocation, especially in organizations with financial constraints.


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Author Biographies

Túlio Silva Oliveira, Federal University of Goiás (UFG), Goiânia (Goiás)

Management, MSc

Cândido Vieira Borges Júnior, Federal University of Goiás (UFG), Goiânia (Goiás)

Management, Ph.D.

Mauro Caetano, Aeronautics Institute of Technology (ITA) / São José dos Campos, São Paulo

Aeronautics Infrastructure Engineering, Post-Doc


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How to Cite

Oliveira, T. S., Borges Júnior, C. V., & Caetano, M. (2023). Return on investing in innovative activities: the brazilian manufacturing industry. International Journal of Innovation, 11(1), e22797.




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