Abstract

PADILLA-OSPINA, Ana Milena; RIVERA-GODOY, Jorge Alberto  and  OSPINA-HOLGUIN, Javier Humberto. Financial performance of the most innovative companies of the real sector of Colombia. Entramado [online]. 2019, vol.15, n.1, pp.78-97. ISSN 1900-3803.  https://doi.org/10.18041/1900-3803/entramado.1.5347.

This article is aimed at examining the financial performance of twenty-one real sector companies considered the most innovative of Colombia in 2016. For this purpose, a descriptive study was made of the accounting indicators of leverage, asset turnover ratio, net income margin and return on equity in addition to the financial indicators of economic value added and market value added during the period from 2012 to 2016. The results show that, of the twenty-one companies studied, twenty generate a positive return on equity, nine companies generate a positive market value added and only four companies generate a positive economic value added every year The effects of the net operating assets, the cost of capital and the earnings before interest and taxes for the generation of economic value added are also studied in the sample of companies.

JEL Classification: M41, O30, L60, L80.

Keywords : Innovative companies; economic value added; market value added; financial performance..

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