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‘Better late than never’: the interplay between green technology and age for firm growth

Author

Listed:
  • Riccardo Leoncini

    (University of Bologna
    University of Freiburg
    IRCrES-CNR)

  • Alberto Marzucchi

    (University of Sussex)

  • Sandro Montresor

    (Kore University of Enna)

  • Francesco Rentocchini

    (University of Milan
    University of Southampton)

  • Ugo Rizzo

    (University of Ferrara)

Abstract

This paper investigates the relationship between green/non-green technologies and firm growth. By combining the literature on eco-innovations, industrial organisation and entrepreneurial studies, we examine the dependence of this relationship on the pace at which firms grow and the age of the firm. From a dataset of 5498 manufacturing firms in Italy for the period of 2000–2008, longitudinal fixed effects quantile models are estimated, in which the firm’s age is set to moderate the effects of green and non-green patents on employment growth. We find that the positive effect of green technologies on growth is greater than that of non-green technologies. However, this result does not apply to struggling and rapidly growing firms. With fast-growing (above the median) firms, age moderates the growth effect of green technologies. Inconsistent with the extant literature, this moderation effect is positive: firm experience appears important for the growth benefits of green technologies, possibly relative to the complexity of their management.

Suggested Citation

  • Riccardo Leoncini & Alberto Marzucchi & Sandro Montresor & Francesco Rentocchini & Ugo Rizzo, 2019. "‘Better late than never’: the interplay between green technology and age for firm growth," Small Business Economics, Springer, vol. 52(4), pages 891-904, April.
  • Handle: RePEc:kap:sbusec:v:52:y:2019:i:4:d:10.1007_s11187-017-9939-6
    DOI: 10.1007/s11187-017-9939-6
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    4. Andrea Bastianin & Paolo Castelnovo & Massimo Florio & Anna Giunta, 2019. "Technological Learning and Innovation Gestation Lags at the Frontier of Science: from CERN Procurement to Patent," Papers 1905.09552, arXiv.org.
    5. Ángela Triguero & María C. Cuerva & Carlos Álvarez-Aledo, 2017. "Environmental Innovation and Employment: Drivers and Synergies," Sustainability, MDPI, Open Access Journal, vol. 9(11), pages 1-22, November.
    6. Sandro Montresor & Francesco Quatraro, 2020. "Green technologies and Smart Specialisation Strategies: a European patent-based analysis of the intertwining of technological relatedness and key enabling technologies," Regional Studies, Taylor & Francis Journals, vol. 54(10), pages 1354-1365, October.
    7. Galina Besstremyannaya & Sergei Golovan, 2019. "Reconsideration of a simple approach to quantile regression for panel data: a comment on the Canay (2011) fixed effects estimator," Working Papers w0249, Center for Economic and Financial Research (CEFIR).
    8. Galina Besstremyannaya & Sergei Golovan, 2019. "Reconsideration of a simple approach to quantile regression for panel data: a comment on the Canay (2011) fixed effects estimator," Working Papers w0249, New Economic School (NES).

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    More about this item

    Keywords

    Green technology; Firm growth; Age; Quantile fixed effects;
    All these keywords.

    JEL classification:

    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • Q55 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Technological Innovation

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