IDEAS home Printed from
MyIDEAS: Log in (now much improved!) to save this paper

The financial performance of green prospector firms: a contingent approach

Listed author(s):
  • Javier Aguilera-Caracuel


    (Department of Business Organization and Marketing, Universidad Pablo de Olavide)

  • Natalia Ortiz-de-Mandojana

    (Department of Management, Universidad de las Islas Baleares.)

Registered author(s):

    Innovation is central to improving economic productivity, human well-being and environmental conservation. Firm-level green innovation includes technological improvements that save energy, prevent pollution, or make it possible to recycle waste. Such innovation also includes green product design and corporate environmental management. This type of innovation contributes to business sustainability as it potentially has a positive effect on the firms’ financial, social and environmental outcomes. However, the specific effect of green innovation on firms’ outcomes can be highly influenced by the context in which firms develops their activities. Using a contingent approach and employing a sample of 88 green prospector firms from 14 different countries, we observe that the intensity of green innovation is positively related to firm profitability. We also show that stringent environmental regulations keep firms from taking the financial advantage of the benefits of green innovation. However, the environmental normative conditions in a country do not have any significant impact on the way firms take advantage of green innovation to increase their level of financial performance. Finally, we also discuss implications for academia, managers and policy-makers.

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

    File URL:
    File Function: First version, 2013
    Download Restriction: no

    Paper provided by Universidad Pablo de Olavide, Department of Business Organization and Marketing (former Department of Business Administration) in its series Working Papers with number 13.02.

    in new window

    Length: 28 pages
    Date of creation: Jan 2013
    Handle: RePEc:pab:wpboam:13.02
    Contact details of provider: Postal:
    Carretera de Utrera km.1, 41013 Sevilla

    Phone: + 34 954 34 9866
    Fax: + 34 954 34 8353
    Web page:

    More information through EDIRC

    No references listed on IDEAS
    You can help add them by filling out this form.

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    When requesting a correction, please mention this item's handle: RePEc:pab:wpboam:13.02. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Publicación Digital - UPO)

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.