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Eco‐innovation strategies: A panel data analysis of Spanish manufacturing firms

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  • Elisenda Jové‐Llopis
  • Agustí Segarra‐Blasco

Abstract

This 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.

Suggested Citation

  • Elisenda Jové‐Llopis & Agustí Segarra‐Blasco, 2018. "Eco‐innovation strategies: A panel data analysis of Spanish manufacturing firms," Business Strategy and the Environment, Wiley Blackwell, vol. 27(8), pages 1209-1220, December.
    • Handle: RePEc:bla:bstrat:v:27:y:2018:i:8:p:1209-1220
    DOI: 10.1002/bse.2063
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