IMPACTOS DOS INVESTIMENTOS EM INOVAÇÃO E DA ESTRUTURA DE CAPITAL NO DESEMPENHO ORGANIZACIONAL: UMA ANÁLISE SOB A PERSPECTIVA DA EQUIPE DE ALTO ESCALÃO
DOI:
https://doi.org/10.4270/ruc.2019212Keywords:
Equipe de Alto Escalão, Características, Participação Acionária, Investimentos em Inovação, Estrutura de Capital e Desempenho.Abstract
Os investimentos em inovação e a composição da estrutura de capital podem ser fundamentais para o desempenho organizacional. Neste sentido, o objetivo do estudo é analisar o impacto dos investimentos em inovação e da estrutura de capital no desempenho organizacional, levando em consideração a influência das características e da participação acionária da equipe de alto escalão. Usando dados coletados de 293 empresas europeias da base Amadeus, do ano de 2016. Estes dados foram analisados por meio de equações estruturais, utilizando o software SmartPLS. Os resultados mostram que a composição da estrutura de capital, formada por capital de terceiros e de financiamentos de curto prazo, apresenta relação negativa com o desempenho organizacional. Enquanto, os investimentos em inovação, constituídos por ativo intangível, gastos de Pesquisa e Desenvolvimento-P&D e gastos com pesquisa, apresentam relação positiva com o desempenho organizacional. Além disto, tempo no cargo e participação acionária da equipe de alto escalão têm impacto na relação entre a composição da estrutura de capital e o desempenho organizacional. Entre as possíveis contribuições do estudo pode-se destacar o conhecimento gerado acerca da influência das características e da participação acionária da equipe de alto escalão nas decisões de estrutura de capital. Este estudo também contribuí para entender melhor os fatores que impulsionam as decisões de investimentos em inovação.
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