TY - JOUR
T1 - Eco-Innovation and Firm Performance
T2 - Evidence from South America
AU - Barriga Medina, Holger Raúl
AU - Guevara, Ruben
AU - Campoverde, Ronald Enrique
AU - Paredes-Aguirre, Milton Ismael
N1 - Publisher Copyright:
© 2022 by the authors.
PY - 2022/8
Y1 - 2022/8
N2 - Eco-innovation has received a great deal of attention in academia and the business sector because it promotes a firm’s sustainable development and seeks to improve its performance. The prime objective of this study was to analyze the effect of the process, organization, and product eco-innovation on the company’s financial and environmental performance. Using a structural equation model estimated by maximum likelihood and a sample from 214 South American manufacturing companies in Colombia, Ecuador, and Perú, we found that organizational eco-innovation (OE) and process eco-innovation (PCE) are positively and significantly associated with the firm’s environmental and financial performance. In contrast, product eco-innovation (PDE) is not significantly associated with the two types of performance described. Likewise, OE has a significant and positive indirect influence on PDE, environmental performance, and financial performance. These findings suggest that OE and PCE positively affect the firm’s performance. On the contrary, PDE does not have this effect, extending the discussion that eco-innovation is specific to the context of the study.
AB - Eco-innovation has received a great deal of attention in academia and the business sector because it promotes a firm’s sustainable development and seeks to improve its performance. The prime objective of this study was to analyze the effect of the process, organization, and product eco-innovation on the company’s financial and environmental performance. Using a structural equation model estimated by maximum likelihood and a sample from 214 South American manufacturing companies in Colombia, Ecuador, and Perú, we found that organizational eco-innovation (OE) and process eco-innovation (PCE) are positively and significantly associated with the firm’s environmental and financial performance. In contrast, product eco-innovation (PDE) is not significantly associated with the two types of performance described. Likewise, OE has a significant and positive indirect influence on PDE, environmental performance, and financial performance. These findings suggest that OE and PCE positively affect the firm’s performance. On the contrary, PDE does not have this effect, extending the discussion that eco-innovation is specific to the context of the study.
KW - South America
KW - environmental performance
KW - financial performance
KW - organizational eco-innovation
KW - process eco-innovation
KW - product eco-innovation
UR - http://www.scopus.com/inward/record.url?scp=85137193415&partnerID=8YFLogxK
U2 - 10.3390/su14159579
DO - 10.3390/su14159579
M3 - Article
AN - SCOPUS:85137193415
SN - 2071-1050
VL - 14
JO - Sustainability (Switzerland)
JF - Sustainability (Switzerland)
IS - 15
M1 - 9579
ER -
