 Do the ecoinnovation and ecodesign strategies generate value added in munificent environments?Isabel‐María García‐Sánchez, Isabel Gallego‐Álvarez and José‐Luis Zafra‐Gómez Business Strategy and the Environment, 2020, vol. 29, issue 3, 1021-1033 Abstract: Within innovation strategies, ecodesign and ecoinnovation are becoming very relevant in recent years as they seek to reduce the environmental impact of both products and production processes by using new technologies and ways of working that contribute to sustainable development and at the same time help to promote the competitiveness of companies. In this framework, the objective of this paper is to analyze the impact that the strategies of environmental innovation in products and processes have on the profitability and the market value of the companies, considering the moderating role that the munificence of the industry has in this relationship. Using the generalized method of moments, the results obtained from a sample of 6,454 international companies during the period 2002–2017 show that although environmental innovation strategies do not entail higher returns, they are well valued by the capital market. This was especially true in environments with greater economic growth and availability of resources, that is, in munificent environments. Date: 2020 Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:bla:bstrat:v:29:y:2020:i:3:p:1021-1033 Ordering information: This journal article can be ordered from Access Statistics for this article Business Strategy and the Environment is currently edited by Richard Welford More articles in Business Strategy and the Environment from Wiley Blackwell |
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