The Value of Being Innovative in Information Technology


  • Rodrigo Fernandes Malaquias Fundação Getulio Vargas, Brazil. & Universidade Federal de Uberlândia, Brazil.
  • Alberto Luiz Albertin Fundação Getulio Vargas



IT investments, Latin America, Stock Market, Strategy, Brazil.


We developed this paper in order to better understand the effects of being innovative in the use of Information Technology (IT). Through a measure for listed companies that are innovative in IT use, we developed a quantitative analysis considering the investments made by institutional investors in these companies. As institutional investors, the sample includes observations from 2,880 mutual funds, since managers of these funds are presumed to be experts in choosing good companies to invest financial resources. Regarding the companies’ stocks, the final sample of this study is comprised of 592 observations during the period from 2013 to 2015. The main result obtained in this paper indicates that “innovative companies in IT use” receive more investments from institutional investors when compared with the other firms. These results are robust to other variables presented by academic literature as relevant factors to understand resources allocation in financial market.


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Author Biographies

Rodrigo Fernandes Malaquias, Fundação Getulio Vargas, Brazil. & Universidade Federal de Uberlândia, Brazil.

Rodrigo Fernandes Malaquias is a Full Time Professor at Universidade Federal de Uberlândia (UFU), Brazil. In 2012, he received his PhD in Business Administration from FGV-EAESP, Brazil. In 2015, he was a Visiting Research Scholar at DePaul University in Chicago, USA, where he developed his first pos-doc research. Currently (2016/2017), he is developing his pos-doc research at FGV-EAESP. His papers have been published or accepted for publication by peer-reviewed journals, including Research in International Business and Finance, Computers in Human Behavior, Accounting & Finance Review (USP), Information Development, Information Technology for Development, Technology and Disability, Brazilian Review of Finance, Brazilian Business Review, Journal of Operations and Supply Chain Management, TOJDE, among others.

Alberto Luiz Albertin, Fundação Getulio Vargas

Professor Albertin holds an MsC and a PhD degree in Business Administration from Faculdade de Economia, Administração e Contabilidade da Universidade de São Paulo (FEA-USP). He is a full time Professor at FGV-EAESP and the coordinator of the Center for Applied Information Technology (CIA), of the Programme for Excellence in Business in Digital Age (NED) and of the Post Graduation Programs at FGV-EAESP. He is also a consultant in Administration of Information Technology, Business in Digital Age and Project Management.




How to Cite

Malaquias, R. F., & Albertin, A. L. (2018). The Value of Being Innovative in Information Technology. Journal of Technology Management & Innovation, 13(1), 3–10.



Research Articles