Take your time: Examining when green innovation affects financial performance in multinationals
By Lígia de Azevedo Rezende, Ana Claudia Bansi, M. Alves, S. Galina. Journal of Cleaner Production, 2019
235 citations recorded by the source corpus.
Abstract Although green innovation is seen by companies as a way to meet regulatory pressures and customers' needs, there is still no consensus about its impact on performance. This paper examines the role of green innovation intensity on financial performance based on data from 356 multinationals firms using a fixed effect panel regression. We found three main results. First, there is no significant association of green innovation's intensity with firm financial performance in the immediate year. Second, the association is positive, lasts during the subsequent years and becomes expressively higher after 2 years. Third, the degree of internationalization does not moderate this relationship. These findings provide empirical evidence that the return of green innovations is conditional to time but not to how much a multinational firm is internationalized.
Subfields: Economics and Econometrics, Marketing, Strategy and Management
View Paper: https://www.semanticscholar.org/paper/a1186d1fd75bcfdb7eb9ad1a0b8e814e3f38c8b1
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Citations in the corpus
- The Interaction Effect between ESG and Green Innovation and Its Impact on Firm Value from the Perspective of Information Disclosure (2020, background): “When Rezende et al. (2019) studied 356 multinational companies in Brazil, they found that the impact of green innovation on corporate financial performance was not evident within the same year but showed a significant positive impact in the following years [19].”