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Impact of green product innovation in SMEs on sustainable development

Author

Listed:
  • Tamara Radjenovic

    (University of Nis)

  • Maja Ivanovic-Djukic

    (University of Nis)

  • Vesna Jankovic Milic

    (University of Nis)

Abstract

This paper investigates the contribution of green product innovation implemented by small and medium-sized enterprises (SMEs) in Europe to sustainable development, and the drivers of SMEs to introduce green product innovation. We selected the following groups of drivers: own financial resources, own green technical expertise, and external support, starting from the results of Flash Eurobarometer report. By applying logit regression to a sample of 12,657 SMEs in 34 European countries (European Union and Western Balkans), we examined how these drivers can influence the increase in the number of SMEs offering green products in the future. The results showed that the greatest impact on increase in SMEs offering green products can have external support and increase in own green technical expertise, as well as an increase in green expertise in combination with an increase in internal financing, while an increase in internal financing alone has no significant impact.

Suggested Citation

  • Tamara Radjenovic & Maja Ivanovic-Djukic & Vesna Jankovic Milic, 2026. "Impact of green product innovation in SMEs on sustainable development," E&M Economics and Management, Technical University of Liberec, Faculty of Economics, vol. 29(1), pages 70-83, March.
    • Handle: RePEc:bbl:journl:v:29:y:2026:i:1:p:70-83
    DOI: 10.15240/tul/001/2026-1-005
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    Keywords

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    JEL classification:

    • Q55 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Technological Innovation
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance

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