Financial performance analysis of innovative companies in the food and beverage industry in Colombia.

Abstract

The article presents the findings from the financial evaluation of Colombian

innovating companies of the food and beverage sector conducted

through the study of their efficiency, efficacy and effectiveness

in obtaining and using financial resources, to verify if the basic financial

objective of creating economic value is achieved. The research covers the

2000-2008 periods, and it uses financial indicators based on accounting

and economic value added information.

We found that innovating companies only create value until 2003;

from 2004 onwards they begin to destroy it, without showing any trend

towards recovery or deterioration. This is mainly due to the behavior of

efficiency in their use of assets.

When comparing them to non innovating companies, we found that

the innovating ones destroy less value and are more efficient, but less

effective.