Os efeitos das expansões internacionais e regionais no desempenho das empresas brasileiras: uma contribuição a partir dos gastos com pesquisa e desenvolvimento e dos períodos de crise

Abstract

The purpose is to analyze the effect of international and regional expansion and spending on research and development (R&D) on the performance of Brazilian firms, in the short and long term, in periods of economic crisis, supported by the Resource-Based Vision Theory (RBV). This work is divided into two studies, one dealing with international expansion and R&D (Chapter 2) and the other with regional expansion and R&D (Chapter 3). A sample of 722 companies listed on B3 in the years 2008 to 2020 was considered, among these, companies with headquarters and/or branches in the regions of Triângulo Mineiro, Alto Parnaíba, South of Goiás and eastern Mato Grosso do Sul. The performance measures was ROA and Q of Tobin. The years 2008, 2009 and 2020 were selected as external crisis, and 2015, 2016 and 2020 as internal crisis. Regarding expansion, in the first study, DOI and exports were used as internationalization variables; and, for the second study, a proxy for the regionalization of companies. Ten hypotheses were stipulated in each study and the multiple linear regression technique was used for the analyses. In Chapter 2, we investigated the hypotheses that internationalization has a positive effect on performance, in the short (H1) and long term (H2); R&D has a negative effect on performance in the short term (H3) and positive in the long term (H4); the interaction of internationalization and R&D has a positive effect on performance, in the short (H5) and long term (H6); and periods of crisis affect the relationship between internationalization and R&D in performance, being analyzed internal crisis in the short (H7) and long term (H8); and the external crisis in the short (H9) and long term (H10). H4 was confirmed; H5 and H9 with a positive relationship and H8 showed a negative relationship. As for Chapter 3, hypotheses related to regionality were investigated, proposing that regional expansion positively affects performance in the short (H1) and long term (H2); R&D has a negative effect on short-term performance (H3) and a positive effect on the long-term (H4); the interaction of regional expansion and R&D has a positive effect on performance, in the short (H5) and long term (H6); and which periods of crisis affect the relationship between regional expansion and R&D in performance, being analyzed internal crisis in the short (H7) and long term (H8); and the external crisis in the short (H9) and long term (H10). Only H10 was confirmed. The study contributes to the literature by evaluating the effects of expansion and performance from the RBV, by proposing that international or regional expansions, combined with R&D expenditures, can guarantee new strategies and competitive advantages for organizations, as these allied resources can generate better performance in times of crisis.