Examination of the profitability of technical analysis based on moving average strategies in BRICS

In this paper,we investigated the profitability of technical analysis as applied to the stock markets of the BRICS member nations.In addition,we searched for evidence that technical analysis and fundamental analysis can complement each other in these markets.To implement this research,we created a comprehensive portfolio containing the assets traded in the markets of each BRICS member.We developed an automated trading system that simulated transactions in this portfolio using technical analysis techniques.Our assessment updated the findings of previous research by including more recent data and adding South Africa,the latest member included in BRICS.Our results showed that the returns obtained by the automated system,on average,exceeded the value invested.There were groups of assets from each country that performed well above the portfolio average,surpassing the returns obtained using a buy and hold strategy.The returns from the sample portfolio were very strong in Russia and India.We also found that technical analysis can help fundamental analysis identify the most dynamic companies in the stock market.

Innovation and financial performance of companies doing business in Brazil

In this paper,we analyze the relationships among innovation efforts,the impacts of these innovations,and the financial performance of Brazilian companies.We hypothesize that innovation efforts do not directly translate into financial performance.Due to the inherent uncertainty of innovative projects,such efforts must first lead to effective innovation results or impacts before they are capable of contributing to a company's financial performance.Using the Brazilian Institute of Geography and Statistics'(IBGE)comprehensive official databases on innovation and performance,we study 5,025 firms using exploratory factor analysis and structural equation modeling.The results suggest that efforts in innovation possibly generate impacts;however,these impacts do not necessarily imply better financial performance.Therefore,although firms'efforts may lead to new products,they will not contribute to financial gains in the short term,reflecting the risky and costly nature of innovation.The study aims to contribute to the discussion on firm-level impacts of innovation from the context of a large developing country,since empirical results of the literature are mixed.

Assessing business incubation:A review on benchmarking

This paper studies benchmarking on Business Incubators(BIs),aggregating the state of knowledge about benchmarks for BI assessment.Based on 136 papers that evaluate BI performance,this study first investigates all Key Performance Indicators(KPIs)provided by 42 BI assessment studies and the relevant benchmarks for each KPI.The final benchmark list is created by taking seven of the most prominent benchmarking studies as a basis.With this framework,this research contributes to the literature on BI assessment by providing comprehensive and aggregated benchmarks for these important innovation habitats.A final list of 33 benchmarks is provided so that BI assessment,for which no common framework exists,becomes easier.This study suggests that with the difficulty of creating a common assessment framework for BIs,it is more reasonable to create a common benchmarking framework that accounts for regional and industrial differences.The results could be subject to a multiple criteria decision analysis.Our paper is the first to aggregate the diverse information on benchmarking and provide researchers and BI managers with a base list of benchmarks.