Green Image and Incentives: Unraveling Their Moderating Impact on Green Innovations, Investor Perception and Financial Performance

Mayank Jain
Additional contact information
Mayank Jain: Vellore Institute of Technology, John F. Kennedy Block, Vellore, India

CECCAR Business Review, 2023, vol. 4, issue 6, 47-59

Abstract: This study examines the linkages between technological green innovations, financial performance and investor enthusiasm in listed Indian manufacturing firms, a context under-represented in extant literature. It aims to address the gap in understanding how investor enthusiasm drives the adoption of green innovation practices and their subsequent impact on financial performance. Moreover, the study investigates the moderating effects of green image and green production incentives, providing comprehensive insights into adopting environmentally sustainable practices. Using a quantitative analysis approach, the research uncovers that green process innovation positively influences green product innovation, contributing to financial performance and investor enthusiasm. However, it also reveals that macroeconomic factors and consumer purchasing power challenge green process innovation. Unexpectedly, no empirical evidence supports the moderation effect of green image between green production incentives and investor enthusiasm. Overall, the study contributes to a better understanding of the complex interplay between green innovation, financial performance and investor enthusiasm in the Indian manufacturing context. The findings hold significant implications for practitioners, policymakers and investors towards fostering a more sustainable future for the Indian manufacturing sector. Future research directions include further exploring dynamic relationships, incorporating other types of green innovations, and considering additional metrics for financial performance and investor enthusiasm.

Keywords: technological green innovations; financial performance; investor enthusiasm; listed Indian manufacturing firms; green image; green production incentives (search for similar items in EconPapers)
JEL-codes: L25 M14 O14 O39 Q56 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.ceccarbusinessreview.ro/green-image-an ... -a315d/download-PDF/ (application/pdf)
https://www.ceccarbusinessreview.ro/green-image-an ... ance-a315a/abstract/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ahd:journl:v:4:y:2023:i:6:p:47-59

DOI: 10.37945/cbr.2023.06.06

Access Statistics for this article

CECCAR Business Review is currently edited by Robert-Aurelian ȘOVA

More articles in CECCAR Business Review from Body of Expert and Licensed Accountants of Romania (CECCAR)
Bibliographic data for series maintained by Radu CIOBANU ().