Eco-innovation strategies: a panel data analysis of Spanish manufacturing firms

Identifier:  imarina:5132070

Handle: https://hdl.handle.net/20.500.11797/imarina5132070

Authors:  Jove-Llopis, Elisenda; Segarra-Blasco, Agusti

Abstract:
The dThis paper examines the determinants of eco‐innovation strategy in Spanish manufacturing firms. Using panel data of 3,201 Spanish firms for the period 2008-14, we specify a dynamic random probit model controlling for sample selection. The empirical results confirm that public regulations and R&D efforts encourage firms to place eco‐innovation activities among their strategic priorities, although subsidies are not found to be a distinctive driver. Furthermore, we find that eco‐innovation is highly persistent at the firm level, past eco‐innovation behavior being clearly of key importance in explaining the current state of a firm's eco‐innovation orientation. In contrast, market factors are not found to be a key driver for eco‐innovative firms.