IDEAS home Printed from https://ideas.repec.org/a/gam/jsusta/v16y2024i14p6203-d1439152.html
   My bibliography  Save this article

The Role of Demographic Changes and Digitalization in Eco-Innovations and Their Effects on the Growth of Companies

Author

Listed:
  • Jasna Auer Antončič

    (Faculty of Management, University of Primorska, Izolska vrata 2, SI-6000 Koper, Slovenia)

  • Jana Hojnik

    (Faculty of Management, University of Primorska, Izolska vrata 2, SI-6000 Koper, Slovenia)

  • Mitja Ruzzier

    (Faculty of Management, University of Primorska, Izolska vrata 2, SI-6000 Koper, Slovenia)

  • Maja Konečnik Ruzzier

    (School of Economics and Business, University of Ljubljana, Kardeljeva pl. 17, SI-1000 Ljubljana, Slovenia)

  • Brandon Soltwisch

    (Freeman School of Business, Tulane University, 7 McAlister Dr, New Orleans, LA 70118, USA)

Abstract

This research explores the role of demographic changes and digitalization in fostering eco-innovations and their subsequent effects on company growth. Employing a quantitative approach, the study investigates how shifts in demographics and the adoption of digital technologies influence eco-innovative practices across companies. The findings reveal that demographic changes are driving the adoption of various eco-innovations, which indirectly contributes to company growth. Additionally, digitalization shows a significant positive relationship with organizational eco-innovations, but its impact on product and process innovations is less pronounced. These results underscore the importance of both demographic factors and strategic digitalization in promoting eco-innovations that yield environmental and economic benefits. This research addresses a crucial gap in the existing literature by uncovering how demographic and digital changes influence eco-innovation and growth, specifically within the context of Slovenian enterprises.

Suggested Citation

  • Jasna Auer Antončič & Jana Hojnik & Mitja Ruzzier & Maja Konečnik Ruzzier & Brandon Soltwisch, 2024. "The Role of Demographic Changes and Digitalization in Eco-Innovations and Their Effects on the Growth of Companies," Sustainability, MDPI, vol. 16(14), pages 1-14, July.
    • Handle: RePEc:gam:jsusta:v:16:y:2024:i:14:p:6203-:d:1439152
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2071-1050/16/14/6203/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/2071-1050/16/14/6203/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Sylvia Grewatsch & Ingo Kleindienst, 2017. "When Does It Pay to be Good? Moderators and Mediators in the Corporate Sustainability–Corporate Financial Performance Relationship: A Critical Review," Journal of Business Ethics, Springer, vol. 145(2), pages 383-416, October.
    2. Oleksii Lyulyov & Olena Chygryn & Tetyana Pimonenko & Aleksy Kwilinski, 2023. "Stakeholders’ Engagement in the Company’s Management as a Driver of Green Competitiveness within Sustainable Development," Sustainability, MDPI, vol. 15(9), pages 1-15, April.
    3. Ronald Lee & Andrew Mason, 2010. "Some macroeconomic aspects of global population aging," Demography, Springer;Population Association of America (PAA), vol. 47(1), pages 151-172, March.
    4. Yu-Shan Chen, 2008. "The Driver of Green Innovation and Green Image – Green Core Competence," Journal of Business Ethics, Springer, vol. 81(3), pages 531-543, September.
    5. Yu-Shan Chen & Shyh-Bao Lai & Chao-Tung Wen, 2006. "The Influence of Green Innovation Performance on Corporate Advantage in Taiwan," Journal of Business Ethics, Springer, vol. 67(4), pages 331-339, September.
    6. Kirchherr, Julian & Reike, Denise & Hekkert, Marko, 2017. "Conceptualizing the circular economy: An analysis of 114 definitions," Resources, Conservation & Recycling, Elsevier, vol. 127(C), pages 221-232.
    7. Sohail Ahmad Javeed & Boon Heng Teh & Tze San Ong & Lee Lee Chong & Mohd Fairuz Bin Abd Rahim & Rashid Latief, 2022. "How Does Green Innovation Strategy Influence Corporate Financing? Corporate Social Responsibility and Gender Diversity Play a Moderating Role," IJERPH, MDPI, vol. 19(14), pages 1-22, July.
    8. Rennings, Klaus, 2000. "Redefining innovation -- eco-innovation research and the contribution from ecological economics," Ecological Economics, Elsevier, vol. 32(2), pages 319-332, February.
    9. Thomas L. Saaty & Luis G. Vargas, 2012. "Models, Methods, Concepts & Applications of the Analytic Hierarchy Process," International Series in Operations Research and Management Science, Springer, edition 2, number 978-1-4614-3597-6, March.
    10. Horbach, Jens, 2008. "Determinants of environmental innovation--New evidence from German panel data sources," Research Policy, Elsevier, vol. 37(1), pages 163-173, February.
    11. Paul Shrivastava, 1995. "Environmental technologies and competitive advantage," Strategic Management Journal, Wiley Blackwell, vol. 16(S1), pages 183-200.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Jana Hojnik, 2017. "In Pursuit of Eco-innovation," UPP Monograph Series, University of Primorska Press, number 978-961-7023-53-4.
    2. Palmer, Mark & Truong, Yann, 2017. "The Impact of Technological Green New Product Introductions on Firm Profitability," Ecological Economics, Elsevier, vol. 136(C), pages 86-93.
    3. Tariq, Adeel & Badir, Yuosre F. & Tariq, Waqas & Bhutta, Umair Saeed, 2017. "Drivers and consequences of green product and process innovation: A systematic review, conceptual framework, and future outlook," Technology in Society, Elsevier, vol. 51(C), pages 8-23.
    4. Eduardo Duque‐Grisales & Javier Aguilera‐Caracuel & Jaime Guerrero‐Villegas & Encarnación García‐Sánchez, 2020. "Does green innovation affect the financial performance of Multilatinas? The moderating role of ISO 14001 and R&D investment," Business Strategy and the Environment, Wiley Blackwell, vol. 29(8), pages 3286-3302, December.
    5. Dante I. Leyva-de la Hiz & Vera Ferron-Vilchez & J. Alberto Aragon-Correa, 2019. "Do Firms’ Slack Resources Influence the Relationship Between Focused Environmental Innovations and Financial Performance? More is Not Always Better," Journal of Business Ethics, Springer, vol. 159(4), pages 1215-1227, November.
    6. Jana Hojnik & Mitja Ruzzier & Tatiana Manolova, 2017. "Eco-Innovation and Firm Efficiency: Empirical Evidence from Slovenia," Foresight and STI Governance (Foresight-Russia till No. 3/2015), National Research University Higher School of Economics, vol. 11(3), pages 103-111.
    7. Alexandra Rese & Anke Kutschke & Daniel Baier, 2016. "Analyzing The Relative Influence Of Supply Side, Demand Side And Regulatory Factors On The Success Of Collaborative Energy Innovation Projects," International Journal of Innovation Management (ijim), World Scientific Publishing Co. Pte. Ltd., vol. 20(02), pages 1-43, February.
    8. Ying Guo & Lifang Wang, 2022. "Environmental Entrepreneurial Orientation and Firm Performance: The Role of Environmental Innovation and Stakeholder Pressure," SAGE Open, , vol. 12(1), pages 21582440211, February.
    9. Werner Bönte & Christian Dienes, 2013. "Environmental Innovations and Strategies for the Development of New Production Technologies: Empirical Evidence from Europe," Business Strategy and the Environment, Wiley Blackwell, vol. 22(8), pages 501-516, December.
    10. Francesco Calza & Adele Parmentola & Ilaria Tutore, 2017. "Types of Green Innovations: Ways of Implementation in a Non-Green Industry," Sustainability, MDPI, vol. 9(8), pages 1-16, July.
    11. Pinget, Amandine, 2016. "Spécificités des déterminants des innovations environnementales : une approche appliquée aux PME [Specificities of determinants for environmental innovation : an approach applied to SMEs]," MPRA Paper 80108, University Library of Munich, Germany.
    12. Bönte, Werner & Dienes, Christian, 2012. "Energy and Material Efficiency Innovations: The Relevance of Innovation Strategies," Schumpeter Discussion Papers sdp12001, Universitätsbibliothek Wuppertal, University Library.
    13. Wang, Haiyan & Masi, Donato & Dhamotharan, Lalitha & Day, Steven & Kumar, Ajay & Li, Tong & Singh, Gurmeet, 2022. "Unconventional path dependence: How adopting product take-back and recycling systems contributes to future eco-innovations," Journal of Business Research, Elsevier, vol. 142(C), pages 707-717.
    14. Ammar Masood & Mohsin Altaf & Mohsin Raza Khan & Tanveer Illahi & Abdul Qayyum, 2021. "Industrial Environmental Performance: Mapping And Systematic Literature Review," Bulletin of Business and Economics (BBE), Research Foundation for Humanity (RFH), vol. 10(4), pages 76-100, December.
    15. Vitaliy Roud & Thomas Wolfgang Thurner, 2018. "The Influence of State‐Ownership on Eco‐Innovations in Russian Manufacturing Firms," Journal of Industrial Ecology, Yale University, vol. 22(5), pages 1213-1227, October.
    16. Durán-Romero, Gemma & López, Ana M. & Beliaeva, Tatiana & Ferasso, Marcos & Garonne, Christophe & Jones, Paul, 2020. "Bridging the gap between circular economy and climate change mitigation policies through eco-innovations and Quintuple Helix Model," Technological Forecasting and Social Change, Elsevier, vol. 160(C).
    17. Yu Wang & Yetaotao Qiu & Yi Luo, 2022. "CEO foreign experience and corporate sustainable development: Evidence from China," Business Strategy and the Environment, Wiley Blackwell, vol. 31(5), pages 2036-2051, July.
    18. Justin Doran & Geraldine Ryan, 2016. "The Importance of the Diverse Drivers and Types of Environmental Innovation for Firm Performance," Business Strategy and the Environment, Wiley Blackwell, vol. 25(2), pages 102-119, February.
    19. Rizwan Raheem Ahmed & Grigorios L. Kyriakopoulos & Dalia Streimikiene & Justas Streimikis, 2021. "Drivers of Proactive Environmental Strategies: Evidence from the Pharmaceutical Industry of Asian Economies," Sustainability, MDPI, vol. 13(16), pages 1-28, August.
    20. Ángela Triguero & María C. Cuerva & Francisco J. Sáez‐Martínez, 2022. "Closing the loop through eco‐innovation by European firms: Circular economy for sustainable development," Business Strategy and the Environment, Wiley Blackwell, vol. 31(5), pages 2337-2350, July.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jsusta:v:16:y:2024:i:14:p:6203-:d:1439152. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.