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Firms’ growth, green gazelles and eco-innovation: evidence from a sample of European firms

Author

Listed:
  • Alessandra Colombelli

    (GREDEG - Groupe de Recherche en Droit, Economie et Gestion - UNS - Université Nice Sophia Antipolis (1965 - 2019) - CNRS - Centre National de la Recherche Scientifique - UniCA - Université Côte d'Azur)

  • Jackie Krafft

    (GREDEG - Groupe de Recherche en Droit, Economie et Gestion - UNS - Université Nice Sophia Antipolis (1965 - 2019) - CNRS - Centre National de la Recherche Scientifique - UniCA - Université Côte d'Azur)

  • Francesco Quatraro

    (GREDEG - Groupe de Recherche en Droit, Economie et Gestion - UNS - Université Nice Sophia Antipolis (1965 - 2019) - CNRS - Centre National de la Recherche Scientifique - UniCA - Université Côte d'Azur)

Abstract

This paper investigates the impact of eco-innovation, i.e., innovations aimed at improving firms' environmental performances, and environmental policy stringency on firms' growth processes, with a special focus on gazelles, i.e., firms that show higher than average growth rates. In a context shaped by more and more stringent environmental regulatory frameworks, we posit that inducement mechanisms and the regulatory push/pull effect expand the derived demand for eco-innovations suppliers. For these reasons, we expect a positive association between the generation of EIs and sales growth, which is magnified by increasing policy stringency. The empirical analysis is based on firm-level data drawn from the Bureau van Dijk Database, coupled with patent information obtained from OECD Science and Technology Indicators. The results confirm that eco-innovations are likely to augment the effects of generic innovation on firm growth, and this is particularly true for gazelles. Policy stringency is important in moderating the effects of eco-innovation on growth for gazelles, but even more so for slow-growing firms.

Suggested Citation

  • Alessandra Colombelli & Jackie Krafft & Francesco Quatraro, 2021. "Firms’ growth, green gazelles and eco-innovation: evidence from a sample of European firms," Post-Print halshs-02275022, HAL.
    • Handle: RePEc:hal:journl:halshs-02275022
    DOI: 10.1007/s11187-019-00236-8
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    Cited by:

    1. Alba Marino & Francesco Quatraro, 2023. "Leveraging global recombinant capabilities for green technologies: the role of ethnic diversity in MNEs’ dynamics," The Journal of Technology Transfer, Springer, vol. 48(4), pages 1413-1445, August.
    2. Cunha, Paulo & Neves, Sónia Almeida & Marques, António Cardoso & Serrasqueiro, Zélia, 2020. "Adoption of energy efficiency measures in the buildings of micro-, small- and medium-sized Portuguese enterprises11The financial support of the NECE - Research Unit in Business Science and Economics, ," Energy Policy, Elsevier, vol. 146(C).
    3. Bettina Becker, 2023. "Green Innovation Strategies, Innovation Success, and Firm Performance—Evidence from a Panel of Spanish Firms," Sustainability, MDPI, vol. 15(2), pages 1-11, January.
    4. Iztok Palčič & Jasna Prester, 2020. "Impact of Advanced Manufacturing Technologies on Green Innovation," Sustainability, MDPI, vol. 12(8), pages 1-14, April.
    5. Ameer, Farah & Khan, Naveed R., 2023. "Green entrepreneurial orientation and corporate environmental performance: A systematic literature review," European Management Journal, Elsevier, vol. 41(5), pages 755-778.
    6. Donis, Silvia & Gómez, Jaime & Salazar, Idana, 2023. "Economic complexity, property rights and the judicial system as drivers of eco-innovations: An analysis of OECD countries," Technovation, Elsevier, vol. 128(C).
    7. Zhang, Xuan & Hasan, Mohammad Maruf & Waris, Umra, 2024. "Assessing the nexus between natural resources and government effectiveness: Role of green innovation in shaping environmental sustainability of BRICS nations," Resources Policy, Elsevier, vol. 93(C).
    8. Aldieri, Luigi & Bruno, Bruna & Makkonen, Teemu & Vinci, Concetto Paolo, 2023. "Environmental innovations, geographically mediated knowledge spillovers, economic and environmental performance," Resources Policy, Elsevier, vol. 81(C).
    9. Feng Wang & Tayyaba Rani & Asif Razzaq, 2023. "Environmental impact of fiscal decentralization, green technology innovation and institution’s efficiency in developed countries using advance panel modelling," Energy & Environment, , vol. 34(4), pages 1006-1030, June.
    10. Torrecillas, Celia & Fernández, Sara & García-García, Claudia, 2023. "Drivers to increase eco-efficiencies in Uruguay, Peru, and Panama," Energy Policy, Elsevier, vol. 183(C).

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