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Eco-Innovation and Corporate Environmental Performance: Evidence from G20 countries

Date

2023-12-11

Authors

Nguyen, Huu Thanh

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Abstract

This study examines the impact of eco-innovation on corporate environmental performance by using a sample of publicly listed firms from G20 countries during the period 2002–2022. My research provides a comprehensive analysis by examining four aspects of corporate environmental performance, including energy consumption, water withdrawal, carbon emission, and waste generation, and using four alternative measures of eco-innovation, namely R&D investment, environmental innovation score, process innovation, and product innovation proposed in the recent literature. Overall, I find that at the firm level, eco-innovation has a positive impact on corporate environmental performance by reducing all its four aspects. In addition, the findings are more pronounced for R&D investment, environmental innovation score and product innovation suggesting their relative effectiveness in measuring eco-innovation and reducing firms’ environmental impacts. The findings are robust to alternative model specifications, econometric methods, and the addition of control variables such as country and board characteristics.

Description

This study examines the impact of eco-innovation on corporate environmental performance by using a sample of publicly listed firms from G20 countries during the period 2002–2022.

Keywords

eco-innovation, corporate environmental performance, G20 countries

Citation