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A Systematic Review of Eco-Innovation and Performance from the Resource-Based and Stakeholder Perspectives

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  • Russell Tatenda Munodawafa

    (Department of Management and Humanities, Universiti Teknologi PETRONAS, 32610 Seri Iskandar, Perak, Malaysia)

  • Satirenjit Kaur Johl

    (Department of Management and Humanities, Universiti Teknologi PETRONAS, 32610 Seri Iskandar, Perak, Malaysia)

Abstract

The growing concerns surrounding the precarious state of the biosphere have triggered organizations to develop and implement innovations that curb environmental degradation (eco-innovation). However, eco-innovation is a risky proposition for organizations and their stakeholders, due to uncertainty of outcome. Despite the high investment risk of eco-innovation, the literature that assesses eco-innovation outcomes from an organizational performance perspective is scant. Thus, this paper uses a systematic approach to review eco-innovation and performance literature. The eco-innovation and performance literature reviewed in this paper is sourced from the Scopus and Web of Science (WoS) scientific databases. Results from this systematic review suggest that the capital market stakeholder group—an essential stakeholder group—has received little attention in the eco-innovation and performance literature. This is alarming, as this stakeholder group is expected to act in the best interests of the organization—as well as the other stakeholders—especially during strategy formulation and implementation. This paper also finds that the resource-based view and stakeholder theory are frequently utilized in explaining eco-innovation. However, the natural resource-based view is least utilized, despite growing environmental pressures. A multi-theoretical perspective can help to overcome the limitations of one theory, as well as help to unearth additional organizational factors which could potentially catalyze the eco-innovation and performance relationship.

Suggested Citation

  • Russell Tatenda Munodawafa & Satirenjit Kaur Johl, 2019. "A Systematic Review of Eco-Innovation and Performance from the Resource-Based and Stakeholder Perspectives," Sustainability, MDPI, vol. 11(21), pages 1-23, November.
    • Handle: RePEc:gam:jsusta:v:11:y:2019:i:21:p:6067-:d:282350
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    2. Juan Manuel Bucheli-Calvache & Alexander Zuñiga-Collazos & Fabian Osorio-Tinoco & María de los Ángeles Cervantes-Rosas, 2023. "Proposal for an Eco-Innovation Concept for Small- and Medium-Sized Enterprises (SMEs)," Sustainability, MDPI, vol. 15(13), pages 1-15, June.
    3. Mariusz Zieliński & Izabela Jonek-Kowalska, 2021. "Does CSR Affect the Profitability and Valuation of Energy Companies? An Example from Poland," Energies, MDPI, vol. 14(12), pages 1-24, June.
    4. Magdalena Maciaszczyk & Artur Kwasek & Maria Kocot & Damian Kocot, 2022. "Determinants of Purchase Behavior of Young E-Consumers of Eco-Friendly Products to Further Sustainable Consumption Based on Evidence from Poland," Sustainability, MDPI, vol. 14(4), pages 1-16, February.
    5. Lisanne Simons & Martina Ziefle & Katrin Arning, 2024. "How to shape communication for CO2-derived insulation boards considering different accepter profiles," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 26(10), pages 25367-25396, October.
    6. Agnieszka Rzepka & Magdalena Maciaszczyk & Anna Maria Wisniewska & Maria Kocot, 2021. "E-Consumers and their Agile Qualities as Creators of Eco-Innovations: A Case Study," European Research Studies Journal, European Research Studies Journal, vol. 0(2B), pages 23-38.
    7. Maria Kocot & Damian Kocot, 2022. "Internet Prosumer Activity Levels," European Research Studies Journal, European Research Studies Journal, vol. 0(2), pages 104-117.
    8. Cao Thi Mien Thuy & Nguyen Vinh Khuong & Nguyen Thanh Liem, 2021. "Corporate Social Responsibility Disclosure and Its Effect on Firm Risk: An Empirical Research on Vietnamese Firms," Sustainability, MDPI, vol. 13(22), pages 1-13, November.
    9. Melek Yurdakul & Halim Kazan, 2020. "Effects of Eco-Innovation on Economic and Environmental Performance: Evidence from Turkey’s Manufacturing Companies," Sustainability, MDPI, vol. 12(8), pages 1-22, April.
    10. Artur Kwasek & Magdalena Maciaszczyk & Maria Kocot & Agnieszka Rzepka & Damian Kocot & Hubert Gąsiński & Dariusz Prokopowicz, 2023. "Energy Saving Practices in the IT Area as a Factor of Sustainable Development of the Organization: A Case Study of Poland," Energies, MDPI, vol. 16(4), pages 1-14, February.
    11. Paulius Šūmakaris & Deniss Ščeulovs & Renata Korsakienė, 2020. "Current Research Trends on Interrelationships of Eco-Innovation and Internationalisation: A Bibliometric Analysis," JRFM, MDPI, vol. 13(5), pages 1-16, April.
    12. António Abreu, 2021. "Innovation Ecosystems: A Sustainability Perspective," Sustainability, MDPI, vol. 13(4), pages 1-3, February.
    13. Amanda Xavier & Tatiana Reyes & Améziane Aoussat & Leandro Luiz & Lucas Souza, 2020. "Eco-Innovation Maturity Model: A Framework to Support the Evolution of Eco-Innovation Integration in Companies," Sustainability, MDPI, vol. 12(9), pages 1-35, May.
    14. Xiaoran Zheng & Yuzhuo Cai, 2022. "Transforming Innovation Systems into Innovation Ecosystems: The Role of Public Policy," Sustainability, MDPI, vol. 14(12), pages 1-26, June.
    15. Regmi, Rupesh & Zhang, Zhuo & Zhang, Hongpeng, 2023. "Entrepreneurship strategy, natural resources management and sustainable performance: A study of an emerging market," Resources Policy, Elsevier, vol. 86(PB).
    16. Satirenjit Kaur Johl & Md Abu Toha, 2021. "The Nexus between Proactive Eco-Innovation and Firm Financial Performance: A Circular Economy Perspective," Sustainability, MDPI, vol. 13(11), pages 1-25, June.
    17. Paulius Šūmakaris & Renata Korsakienė & Deniss Ščeulovs, 2021. "Determinants of Energy Efficient Innovation: A Systematic Literature Review," Energies, MDPI, vol. 14(22), pages 1-20, November.
    18. Melek Yurdakul & Halim Kazan, 2024. "A Study on Determining the Eco-Innovation Dynamics in Turkey’s Manufacturing Companies," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 15(1), pages 4912-4938, March.
    19. Rafik Abdesselam & Malia Kedjar & Patricia Renou-Maissant, 2024. "What are the drivers of eco-innovation? Empirical evidence from French start-ups," Post-Print hal-04304153, HAL.
    20. Barıs Aksu & Gulsen Akman, 2024. "How Eco-innovation Determinants and Eco-innovation Strategy Influences Sustainability Performance of SMEs? Mediating Role of Eco-innovation Strategy," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 15(2), pages 9368-9392, June.
    21. Nuraddeen Abubakar Nuhu & Kevin Baird & Sophia Su, 2023. "The impact of interactive and diagnostic levers of eco‐control on eco‐innovation: The mediating role of employee environmental citizenship behaviour," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 63(2), pages 2245-2271, June.
    22. Seungyeon Moon & Heesang Lee, 2021. "Shaping a Circular Economy in the Digital TV Industry: Focusing on Ecopreneurship through the Lens of Dynamic Capability," Sustainability, MDPI, vol. 13(9), pages 1-41, April.

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