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Green Production as a Factor of Survival for Innovative Startups: Evidence from Italy

Riccardo Gianluigi Serio (), Maria Michela Dickson (), Diego Giuliani () and Giuseppe Espa ()
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Riccardo Gianluigi Serio: Faculty of Law, University of Trento, 38122 Trento, Italy
Maria Michela Dickson: Department of Economics and Management, University of Trento, 38122 Trento, Italy
Diego Giuliani: Department of Economics and Management, University of Trento, 38122 Trento, Italy
Giuseppe Espa: Department of Economics and Management, University of Trento, 38122 Trento, Italy

Sustainability, 2020, vol. 12, issue 22, 1-12

Abstract: Many studies have analyzed empirically the determinants of survival for innovative startup companies using data about the characteristics of entrepreneurs and management or focusing on firm- and industry-specific variables. However, no attempts have been made so far to assess the role of the environmental sustainability of the production process. Based on data describing the characteristics of the Italian innovative startups in the period 2009–2018, this article studies the differences in survival between green and non-green companies. We show that, while controlling for other confounding factors, startups characterized by a green production process tend to survive longer than their counterparts. In particular, we estimate that a green innovative startup is more than twice as likely to survive than a non-green one. This evidence may support the idea that environmental sustainability can help economic development.

Keywords: newborn companies; Kaplan–Meier; Cox proportional-hazard model (search for similar items in EconPapers)
JEL-codes: Q Q0 Q2 Q3 Q5 Q56 O13 (search for similar items in EconPapers)
Date: 2020
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