2023/42 | LEM Working Paper Series | ||||||||||||||||
![]() |
|||||||||||||||||
There are different shades of green: heterogeneous environmental innovations and their effects on firm performance |
|||||||||||||||||
Gianluca Biggi, Andrea Mina and Federico Tamagni |
|||||||||||||||||
Keywords | |||||||||||||||||
![]() |
![]() |
||||||||||||||||
Environmental Innovation; Green Investments, Resource-saving, Pollution-reduction, Environmental compliance; Firm performance.
|
|||||||||||||||||
JEL Classifications | |||||||||||||||||
![]() |
![]() |
||||||||||||||||
|
|||||||||||||||||
Abstract | |||||||||||||||||
![]() |
![]() |
||||||||||||||||
Using a firm-level dataset from the Spanish Technological Innovation
Panel (2003-2016), this study explores the characteristics of
environmentally innovative firms and quantifies the effects of
pursuing different types of environmental innovation strategies
(resource-saving, pollution-reducing, and regulation-driven
innovations) on sales, employment, and productivity dynamics. The
results indicate, first, that environmental innovations tend to be
highly correlated with firms’ technological capabilities, although to
varying degrees across types of environmental innovation, whereas
structural characteristics are less significant. Second, we observe
heterogeneous effects of different types of environmental innovation
on performance outcomes. We find no evidence that any type of
environmental innovation fosters sales growth while pollution-reducing
and regulation-driven innovations boost employment growth. Moreover,
both resource-saving and pollution-reducing innovations bring about
productivity advantage.
|
Downloads
|
![]() ![]() |
|
![]()
|
![]() |