A INFLUÊNCIA DO GRAU DE INTANGIBILIDADE NO DESEMPENHO DE EMPRESAS SEDIADAS NOS PAÍSES COM TURBULÊNCIA ECONÔMICA Relationship between performance and intangibility companies based countries with economic turmoil

The study investigates the influence of the degree of intangibility on the economic performance of companies located in Portugal, Ireland, Italy, Greece and Spain, exploring 604 companies from the economic sectors of industry, utilities and transport. Data analysis drew on the SPSS® statistical package, applying a multivariate linear regression technique. As dependent variables, we used the return on assets (ROA), Earnings per Share (EPS), Sales Growth (CV), Asset Turnover (GA) and Return on Equity (ROE). As independent variables, the degree of intangibility (GI) and the dummy variables representing countries and economic sectors. The results demonstrate that the GI has a positive and significant relationship with ROA and a negative and significant one with ROE; in relation to LPA and CV variables, no statistically significant results were found, and as the GA variable, all relationships were positive, alternating between significant – with the companies from Portugal, Italy, Greece and Spain – and not significant, with companies from Ireland and the total sample. It is concluded that there is significant relationship between the degree of intangibility and economic performance of companies from the sample, supporting the theoretical perspectives that the intangible assets have differentiated capability in the value creation to the entities.